167 N Allen St · Albany, NY 12206

$250,000

5 bd · 2.0 ba · 2,384 sqft · MultiFamily public records · 12 Days on market

Built 1930 3,049 sqft lot $105/sqft · 46% below area Est $464k · 46% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Opportunity knocks in Albany! Ideally located between Central and Washington Ave, this two-family property offers strong upside potential with separate utilities, a newer roof, and long-term occupants already in place. Both units feature some updated vinyl flooring, and the month-to-month tenancy provides added flexibility. The spacious first-floor unit offers 4 bedrooms and 1 bath, while the second floor includes 2 bedrooms and 1 bath. Conveniently located near shopping, restaurants, and everyday amenities, with convenient access to public transportation and readily available street parking.

Key facts

• Separate utilities
• Newer roof
• Two-family property

Tags

• TWO-FAMILY PROPERTY
• SEPARATE UTILITIES
• NEWER ROOF
• UPDATED VINYL FLOORING

Property features AI

Finance

• Financial info: 2 total units; Tenants pay hot water, heat, electricity, and gas; Owner pays trash collection, sewer, and water

Exterior

• Utilities: 100 amp electric service; Public sewer; Public water; Cable available
• Home design: Duplex; Flat roof; Block foundation; Built with aluminum and vinyl siding
• Construction: Block foundation; Aluminum siding; Vinyl siding; Flat roof
• Exterior features: Front porch; Garden; Cleared lot

Interior

• Kitchen: Solid surface counters
• Bedrooms: Unit 1: 4 bedrooms (includes rooms on multiple levels); Unit 2: 2 bedrooms
• Flooring: Vinyl; Carpet; Hardwood
• Bathrooms: 2 full bathrooms total; Full bath on the 1st level; Full bath on the 2nd level; Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: Solid surface counters; High-speed internet; Wood frame windows

🏷️ Possibly a rental listed for sale. The $250,000 price doesn't fit this home's estimated sale value (~$463,675) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $529/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 11.4% vs local median 5.7% in Albany — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,823/mo this rent would consume 110% of the median local household income ($42k/yr) (locally 2035% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.14%
• DSCR: 1.81
• GRM: 5.4

CMA / ARV

• ARV (median comp): $463,675
• List price: $250,000
• Delta: -46.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 N Allen St	0.21mi	4/3.0 (-1)	2,504 (+5%)	6mo	$350,000	$140	68
24 Kent St	0.55mi	6/2.0 (+1)	2,364 (-1%)	5mo	$210,000	$89	64
77 S Pine Ave	0.72mi	6/2.0 (+1)	2,368 (-1%)	1mo	$375,000	$158	59
115 Homestead Ave	0.46mi	5/2.0	2,641 (+11%)	2mo	$380,000	$144	59
75 S Pine Ave	0.72mi	6/2.0 (+1)	2,356 (-1%)	2mo	$390,000	$166	58
627 3rd St	0.48mi	4/2.0 (-1)	2,200 (-8%)	5mo	$225,000	$102	56
857 Livingston Ave	0.43mi	6/2.0 (+1)	2,668 (+12%)	3mo	$207,480	$78	52
116 Homestead Ave	0.49mi	6/2.0 (+1)	2,640 (+11%)	6mo	$240,000	$91	50
265 Western Ave	0.73mi	6/2.0 (+1)	2,240 (-6%)	6mo	$220,000	$98	46
563 Morris St	0.73mi	6/2.0 (+1)	2,224 (-7%)	6mo	$275,000	$124	45
531 Hamilton St	0.69mi	5/3.0	2,112 (-11%)	5mo	$284,750	$135	41
685 Clinton Ave	0.69mi	4/2.0 (-1)	2,032 (-15%)	6mo	$190,000	$94	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.52×
• Total profit: $36,417
• Equity at exit: $37,276

10-year hold

• IRR: 23.5%
• Equity multiple: 3.28×
• Total profit: $159,510
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,823 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$547 /mo · $6,562/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$803
• Net cashflow: $1,058

Break-even live

Break-even rent $2,484

Max offer price $250,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,200	-5% $1,129	+0% $1,058	+5% $987	+10% $917
Rent	-10% $756	-5% $907	+0% $1,058	+5% $1,209	+10% $1,360
Rate	-1.0pp $1,184	-0.5pp $1,122	base $1,058	+0.5pp $993	+1.0pp $927

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,824
Total (2 units)			$3,823

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 Winthrop Ave Albany, NY	6.0	2.0	2800	$2,795	$1.00	24d	1	0.49mi
57 S Main Ave Albany, NY	4.0	1.0	2695	$1,600	$0.59	44d	1	0.73mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	44d	1	0.89mi
726 Western Ave Albany, NY	4.0	2.5	1900	$2,800	$1.47	44d	1	0.97mi
830 Western Ave Albany, NY	4.0	2.5	1600	$2,700	$1.69	15d	1	1.07mi

Listing history 2 events

1. 2026-05-18
   status Pending 599-char remark
2. 2026-05-06
   listed $250,000 Active 599-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,562 · $547/mo
• Projected year-2 tax: $6,562 · $547/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,876
• − Mortgage interest: −$14,004
• − Property taxes: −$6,562
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,670
• − Management: −$3,670
• − Depreciation: −$7,273
• Taxable income: $9,447
• Est. tax owed @ 24.0%: −$2,267
• After-tax cash flow: $10,430/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

4 events — show timeline

• 2026-06-12 Pending — Global MLS
• 2026-06-12 Relisted — Global MLS
• 2026-05-18 Pending — Global MLS
• 2026-05-06 Listed $250,000 Global MLS

Property tax history

+2.2%/yr

Latest (2025): $6,562 · +2.8% YoY. Source: county tax records.