103 Porter St · Schenectady, NY 12308

$234,000

4 bd · 2.0 ba · 1,768 sqft · MultiFamily public records · 126 Days on market

Built 1910 3,920 sqft lot $132/sqft · 13% below area Est $270k · 13% 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 +26.1/30.0
• ARV discount +13.6/15.0
• DSCR +8.8/10.0
• 1% rule +7.3/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• 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 MLS

Whether you're an investor looking to expand your portfolio or an owner-occupant hoping to offset your mortgage, this freshly updated two-family checks all of the boxes. Each unit offers 2 bedrooms, 1 bathroom, hardwood floors, fresh paint, updated fixtures and new appliances. Located in the heart of the city close to bus lines, schools, shopping, grocery stores and the casino- a prime rental location with strong appeal. A large yard offers added outdoor space for tenants or owners alike.

Key facts

• Fresh paint
• Large yard
• New appliances

Tags

• HARDWOOD FLOORS
• FRESH PAINT
• UPDATED FIXTURES
• NEW APPLIANCES
• PRIME RENTAL LOCATION
• LARGE YARD

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $234k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive. Per door: $293/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $234k).
• Recommended offer: $206k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.3% in Schenectady — 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 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: schools C-, employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 78 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $2,872/mo this rent would consume 54% of the median local household income ($63k/yr) (locally 1016% 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 $7k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.23% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 6.8

CMA / ARV

• ARV (median comp): $270,470
• List price: $234,000
• Delta: -13.48%
• 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
11 Mynderse St	0.30mi	4/2.0	1,686 (-5%)	1mo	$140,000	$83	77
37 Swan St	0.57mi	4/2.0	1,768 (0%)	6mo	$240,000	$136	68
112 Porter St	0.03mi	4/2.0	1,556 (-12%)	12mo	$255,000	$164	68
1156-1158 Hilderbrandt Ave	0.44mi	4/2.0	1,768 (0%)	17mo	$20,000	$11	66
1039 Wendell Ave	0.38mi	4/2.0	1,984 (+12%)	4mo	$220,000	$111	59
206 Front St	0.73mi	4/2.0	1,880 (+6%)	2mo	$299,000	$159	54
212 Hulett St	0.42mi	4/2.0	1,892 (+7%)	19mo	$90,000	$48	53
321 Front St	0.73mi	4/2.0	1,744 (-1%)	15mo	$220,000	$126	51
136 Elmer Ave	0.52mi	3/2.0 (-1)	1,646 (-7%)	11mo	$228,000	$139	50
35 Swan St	0.58mi	4/2.0	1,548 (-12%)	5mo	$2,570	$2	48
634 Hamilton St	0.60mi	5/2.0 (+1)	2,024 (+14%)	0mo	$210,000	$104	43
117 N College St	0.73mi	3/2.0 (-1)	1,944 (+10%)	3mo	$170,000	$87	42

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-467
• Equity at exit: $34,890

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $48,048
• Equity at exit: $20,232

Cash invested: $65,520 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 78
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $2,872 high
• Mortgage (P&I): −$1,227
• Tax from tax record: −$358 /mo · $4,291/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $587

Break-even live

Break-even rent $2,129

Max offer price $234,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,872
Total (2 units)			$2,872

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	43d	1	0.61mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	23d	1	0.70mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	43d	1	0.74mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	43d	1	0.87mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	43d	1	0.89mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	14d	9	0.92mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	14d	1	1.11mi

Listing history 29 events

1. 2026-06-18
   days on market $234,000 Active 126 DOM
2. 2026-06-17
   days on market $234,000 Active 125 DOM
3. 2026-06-16
   days on market $234,000 Active 124 DOM
4. 2026-06-15
   days on market $234,000 Active 123 DOM
5. 2026-06-14
   days on market $234,000 Active 121 DOM
6. 2026-06-13
   days on market $234,000 Active 120 DOM
7. 2026-06-10
   days on market $234,000 Active 118 DOM
8. 2026-06-09
   days on market $234,000 Active 117 DOM
9. 2026-06-08
   days on market $234,000 Active 116 DOM
10. 2026-06-07
    days on market $234,000 Active 115 DOM
11. 2026-06-03
    days on market $234,000 Active 111 DOM
12. 2026-06-02
    days on market $234,000 Active 110 DOM
13. 2026-06-01
    days on market $234,000 Active 109 DOM
14. 2026-05-31
    days on market $234,000 Active 108 DOM
15. 2026-05-31
    days on market $234,000 Active 107 DOM
16. 2026-05-19
    price $234,000 493-char remark

    Show marketing remark (493 chars)

    Whether you're an investor looking to expand your portfolio or an owner-occupant hoping to offset your mortgage, this freshly updated two-family checks all of the boxes. Each unit offers 2 bedrooms, 1 bathroom, hardwood floors, fresh paint, updated fixtures and new appliances. Located in the heart of the city close to bus lines, schools, shopping, grocery stores and the casino- a prime rental location with strong appeal. A large yard offers added outdoor space for tenants or owners alike.

17. 2026-03-26
    price $239,000 493-char remark

    Show marketing remark (493 chars)

    Whether you're an investor looking to expand your portfolio or an owner-occupant hoping to offset your mortgage, this freshly updated two-family checks all of the boxes. Each unit offers 2 bedrooms, 1 bathroom, hardwood floors, fresh paint, updated fixtures and new appliances. Located in the heart of the city close to bus lines, schools, shopping, grocery stores and the casino- a prime rental location with strong appeal. A large yard offers added outdoor space for tenants or owners alike.

18. 2026-03-07
    price $245,000 493-char remark

    Show marketing remark (493 chars)

    Whether you're an investor looking to expand your portfolio or an owner-occupant hoping to offset your mortgage, this freshly updated two-family checks all of the boxes. Each unit offers 2 bedrooms, 1 bathroom, hardwood floors, fresh paint, updated fixtures and new appliances. Located in the heart of the city close to bus lines, schools, shopping, grocery stores and the casino- a prime rental location with strong appeal. A large yard offers added outdoor space for tenants or owners alike.

19. 2026-02-12
    listed $255,000 Active 493-char remark

    Show marketing remark (493 chars)

    Whether you're an investor looking to expand your portfolio or an owner-occupant hoping to offset your mortgage, this freshly updated two-family checks all of the boxes. Each unit offers 2 bedrooms, 1 bathroom, hardwood floors, fresh paint, updated fixtures and new appliances. Located in the heart of the city close to bus lines, schools, shopping, grocery stores and the casino- a prime rental location with strong appeal. A large yard offers added outdoor space for tenants or owners alike.

20. 2025-07-30
    soldstatus $165,000
21. 2025-05-30
    soldstatus $165,000 Closed 414-char remark

    Show marketing remark (414 chars)

    This two-family home in Schenectady offers great potential for investors or homeowners looking for a project, being sold as-is. Featuring two separate units, each with its own kitchen, living room, dining room and bedrooms, this property is perfect for rental income or multi-generational living. While it requires updating and repairs, this is a fantastic opportunity to invest in a property with great potential.

22. 2025-04-24
    status Pending 414-char remark

    Show marketing remark (414 chars)

    This two-family home in Schenectady offers great potential for investors or homeowners looking for a project, being sold as-is. Featuring two separate units, each with its own kitchen, living room, dining room and bedrooms, this property is perfect for rental income or multi-generational living. While it requires updating and repairs, this is a fantastic opportunity to invest in a property with great potential.

23. 2025-04-07
    listed $159,900 Active 414-char remark

    Show marketing remark (414 chars)

    This two-family home in Schenectady offers great potential for investors or homeowners looking for a project, being sold as-is. Featuring two separate units, each with its own kitchen, living room, dining room and bedrooms, this property is perfect for rental income or multi-generational living. While it requires updating and repairs, this is a fantastic opportunity to invest in a property with great potential.

24. 2025-02-12
    historical
25. 2025-01-01
    listed $153,700 Active
26. 2012-07-18
    soldstatus $35,000
27. 2012-07-13
    soldstatus $35,000
28. 2012-05-25
    historical
29. 2010-07-16
    listed $44,900

ⓘ 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: $4,291 · $358/mo
• Projected year-2 tax: $4,291 · $358/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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $34,464
• − Mortgage interest: −$13,108
• − Property taxes: −$4,291
• − Insurance: −$1,170
• − Repairs & maintenance: −$2,757
• − Management: −$2,757
• − Depreciation: −$6,807
• Taxable income: $3,574
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $6,183/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: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

+421.2% since first listed

14 events — show timeline

• 2026-05-19 Price Changed $234,000 Global MLS
• 2026-03-26 Price Changed $239,000 Global MLS
• 2026-03-07 Price Changed $245,000 Global MLS
• 2026-02-12 Listed $255,000 Global MLS
• 2025-07-30 Sold (Public Records) $165,000 Public Records
• 2025-05-30 Sold (MLS) $165,000 Global MLS
• 2025-04-24 Pending — Global MLS
• 2025-04-07 Listed $159,900 Global MLS
• 2025-02-12 Listing Removed — Global MLS
• 2025-01-01 Listed $153,700 Global MLS
• 2012-07-18 Sold (Public Records) $35,000 Public Records
• 2012-07-13 Sold (MLS) $35,000 Global MLS
• 2012-05-25 Listing Removed — Global MLS
• 2010-07-16 Listed $44,900 Global MLS

Property tax history

+2.0%/yr

Latest (2025): $4,291 · +8.5% YoY. Source: county tax records.