2 Sand St · Albany, NY 12209

$175,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 90 Days on market

Built 1934 4,791 sqft lot Est $192k · 9% under

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Why this score? — see what drove the C- 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 +17.5/30.0
• ARV discount +11.4/15.0
• 1% rule +5.5/10.0
• DSCR +5.5/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newer windows, siding, and kitchen cabinets, groomed lot, off street parking, great starter home. Will not last! Star exemption applies to school taxes. Excellent Condition

Key facts

• Newer siding
• New refrigerator
• Newer windows

Tags

• NEW REFRIGERATOR
• RANGE OVEN
• NEWER WINDOWS
• NEWER SIDING
• NEWER KITCHEN CABINETS
• FLEXIBLE LIVING SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 5.7% in Albany — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 47 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago 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.
• Current owner paid $68k; list at $175k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $191,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 O Connell St	0.09mi	2/2.0 (-1)	1,038 (+2%)	2mo	$90,000	$87	82
72 Grandview Ter	0.32mi	4/1.0 (+1)	972 (-5%)	2mo	$226,000	$233	71
19 W Van Vechten St	0.20mi	3/1.5	1,145 (+12%)	4mo	$215,000	$188	65
326 Mountain St	0.52mi	3/1.5	1,080 (+6%)	4mo	$205,000	$190	60
175 Broad St	0.59mi	3/1.5	1,080 (+6%)	2mo	$150,000	$139	59
134 2nd Ave	0.30mi	3/1.5	1,144 (+12%)	8mo	$219,900	$192	58
11 Norfolk St	0.58mi	3/1.5	1,080 (+6%)	6mo	$255,000	$236	56
15 Alden Ave	0.41mi	4/1.5 (+1)	1,132 (+11%)	6mo	$220,000	$194	51
415 Second Ave	0.53mi	3/1.5	1,168 (+14%)	1mo	$209,000	$179	48
310 Mccarty Ave	0.43mi	2/1.5 (-1)	1,154 (+13%)	4mo	$184,000	$159	47
38 Southern Blvd	0.64mi	3/1.0	1,132 (+11%)	6mo	$175,000	$155	47
484 Delaware Ave	0.69mi	2/2.0 (-1)	1,132 (+11%)	2mo	$160,000	$141	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-19,730
• Equity at exit: $26,093

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-5,802
• Equity at exit: $15,131

Cash invested: $49,000 (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 12209

• Home prices YoY: -7.3%
• Active inventory: 47
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$918
• Tax from tax record: −$332 /mo · $3,983/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $134

Break-even live

Break-even rent $1,674

Max offer price $175,000

Occupancy floor 88%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Hurlbut St Albany, NY	3.0	1.0	1209	$2,050	$1.70	43d	1	0.26mi
31 Bertha St Albany, NY	4.0	1.0	1116	$2,000	$1.79	23d	1	0.29mi
86 Hackett Blvd Albany, NY	2.0	1.0	1100	$1,900	$1.73	23d	1	0.55mi
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	43d	1	0.59mi
98 Mount Hope Dr Albany, NY	2.0	1.5	1200	$2,000	$1.67	14d	1	0.62mi
50 Southern Blvd Albany, NY	3.0	1.0	1200	$1,650	$1.38	14d	1	0.62mi
132 4th Ave Albany, NY	3.0	1.0	770	$1,800	$2.34	21d	1	0.63mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	21d	1	0.65mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	14d	1	0.65mi
4 Irving St Unit 2nd Floor Albany, NY	3.0	1.0	1000	$1,695	$1.70	43d	1	0.73mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	44d	1	0.79mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	43d	1	0.84mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.84mi
364 Madison Ave Albany, NY	2.0	2.0	1150	$1,850	$1.61	21d	1	0.85mi
17 Ash Grove Pl Albany, NY	2.0	1.0	800	$1,400	$1.75	43d	1	0.85mi
341 Madison Ave Albany, NY	2.0	1.0	1000	$1,800	$1.80	14d	1	0.86mi
103 Grand St Unit 1 Albany, NY	2.0	1.0	800	$1,250	$1.56	14d	1	0.86mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	23d	1	0.90mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	43d	1	0.91mi
151 Madison Ave Unit C Albany, NY	2.0	1.0	750	$1,125	$1.50	23d	1	0.94mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	43d	1	0.94mi
168 S Pearl St Albany, NY	3.0	1.5	1044	$1,800	$1.72	23d	1	0.95mi
31 Van Zandt St Albany, NY	2.0	1.0	850	$1,700	$2.00	43d	1	0.96mi
135 Madison Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,400	$1.40	43d	1	0.97mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	0.97mi
151 S Pearl St Albany, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.97mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	43d	1	0.97mi
149 Jay St Albany, NY	2.0	1.0	1000	$1,750	$1.75	43d	1	1.02mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	23d	1	1.04mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	21d	1	1.12mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	23d	1	1.13mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	43d	1	1.13mi
155 Chestnut St Albany, NY	2.0	1.0	850	$2,000	$2.35	14d	1	1.14mi
521 Warren St Albany, NY	2.0	1.0	850	$2,300	$2.71	14d	1	1.14mi
42 Harris Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	1.15mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	1.16mi
352 State St Albany, NY	2.0	2.0	1143	$2,500	$2.19	23d	1	1.17mi
199 Lark St Albany, NY	3.0	1.0	1000	$1,800	$1.80	43d	1	1.21mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	43d	1	1.30mi
37 Maiden Ln Albany, NY	2.0	1.0	700	$1,515	$2.16	14d	1	1.31mi

Listing history 11 events

1. 2025-12-06
   status Pending
2. 2025-10-27
   status Active
3. 2025-08-26
   status Pending
4. 2025-07-07
   listed $175,000 Active
5. 2004-12-07
   soldstatus $68,500 172-char remark

   Show marketing remark (172 chars)

   Newer windows, siding, and kitchen cabinets, groomed lot, off street parking, great starter home. Will not last! Star exemption applies to school taxes. Excellent Condition

6. 2004-11-15
   soldstatus $78,500
7. 2004-08-11
   historical 172-char remark

   Show marketing remark (172 chars)

   Newer windows, siding, and kitchen cabinets, groomed lot, off street parking, great starter home. Will not last! Star exemption applies to school taxes. Excellent Condition

8. 2004-07-26
   listed $79,900 172-char remark

   Show marketing remark (172 chars)

   Newer windows, siding, and kitchen cabinets, groomed lot, off street parking, great starter home. Will not last! Star exemption applies to school taxes. Excellent Condition

9. 2002-05-20
   soldstatus $53,228
10. 2002-05-09
    soldstatus $51,500 295-char remark

    Show marketing remark (295 chars)

    WHY RENT WHEN YOU CAN BUILD A LITTLE SWEAT EQUITY HERE! DEEP YARD FOR A HAMMOCK, SWING SET OR A BALL GAME! LIKE THE IDEA OF CLOSETS IN THE RIGHT PLACES? FLEXIBLE LIVING SPACES! COME SEE THIS HOME-NEAR THE ALBANY CIVIC THEATER 2 SAND STREET VIEW THIS LISTING ON REALTOR.COM -- Very Good Condition

11. 2001-08-14
    listed $49,800 295-char remark

    Show marketing remark (295 chars)

    WHY RENT WHEN YOU CAN BUILD A LITTLE SWEAT EQUITY HERE! DEEP YARD FOR A HAMMOCK, SWING SET OR A BALL GAME! LIKE THE IDEA OF CLOSETS IN THE RIGHT PLACES? FLEXIBLE LIVING SPACES! COME SEE THIS HOME-NEAR THE ALBANY CIVIC THEATER 2 SAND STREET VIEW THIS LISTING ON REALTOR.COM -- Very Good Condition

ⓘ 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: $3,983 · $332/mo
• Projected year-2 tax: $3,983 · $332/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $22,123
• − Mortgage interest: −$9,803
• − Property taxes: −$3,983
• − Insurance: −$875
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$5,091
• Taxable loss: −$1,168
• Est. tax savings @ 24.0%: +$280
• After-tax cash flow: $1,887/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
• City population: 116,921
• Population (ZIP): 10,754

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 46% Black 23% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Serbian 1%
• Foreign-born: 18% · Canada, Philippines, South Korea
• Languages at home: 77% English-only · Spanish 13% Other Asian/Pacific 3% Tagalog/Filipino 1%

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: ▼ -24.91%
• Current HPI: 318.0191
• Rent YoY: —
• Metro: —
• 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

+251.4% since first listed

11 events — show timeline

• 2025-12-06 Pending — Global MLS
• 2025-10-27 Relisted — Global MLS
• 2025-08-26 Pending — Global MLS
• 2025-07-07 Listed $175,000 Global MLS
• 2004-12-07 Sold (MLS) $68,500 Global MLS
• 2004-11-15 Sold (Public Records) $78,500 Public Records
• 2004-08-11 Listing Removed — Global MLS
• 2004-07-26 Listed $79,900 Global MLS
• 2002-05-20 Sold (Public Records) $53,228 Public Records
• 2002-05-09 Sold (MLS) $51,500 Global MLS
• 2001-08-14 Listed $49,800 Global MLS

Property tax history

+2.9%/yr

Latest (2025): $3,983 · -12.5% YoY. Source: county tax records.