250 Yates St · Albany, NY 12208

$289,000

5 bd · 3.0 ba · 2,640 sqft · MultiFamily public records · 34 Days on market

Built 1885 2,178 sqft lot $109/sqft · 41% below area Est $493k · 41% 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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 MLS

“Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

Key facts

• Reliable tenant
• Income potential
• 2-unit property

Tags

• 2-UNIT PROPERTY
• VACANT UNIT
• RELIABLE TENANT
• INCOME POTENTIAL

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Flat roof
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Bedrooms: Unit 1 has 4 bedrooms; Unit 2 has 2 bedrooms
• Bathrooms: Three full bathrooms total (full baths located on 1st, 2nd, and 3rd levels); Unit 1 has 2 full baths; Unit 2 has 1 full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement apartment

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive. Per door: $470/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $280k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 (+5.0%/yr); 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $9k 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 + 5.0% rent growth), your $81k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $63k; list at $289k implies a 359% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $280,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.40% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.93%
• DSCR: 1.62
• GRM: 6.0

CMA / ARV

• ARV (median comp): $493,375
• List price: $289,000
• Delta: -41.42%
• 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
113 S Lake Ave	0.06mi	5/4.5	2,608 (-1%)	4mo	$525,000	$201	86
459 Hudson Ave	0.26mi	6/2.0 (+1)	2,584 (-2%)	3mo	$235,000	$91	73
466 Hudson Ave	0.25mi	6/2.0 (+1)	2,712 (+3%)	3mo	$235,000	$87	72
2 Maple Ave	0.41mi	5/2.0	2,688 (+2%)	8mo	$352,000	$131	67
380-382 Morris St	0.07mi	6/2.0 (+1)	2,344 (-11%)	3mo	$300,000	$128	66
189-B Quail St	0.33mi	6/2.0 (+1)	2,512 (-5%)	3mo	$185,000	$74	65
4 Edison Ave	0.70mi	6/2.0 (+1)	2,640 (0%)	6mo	$410,000	$155	53
260 Partridge St	0.42mi	6/2.0 (+1)	2,312 (-12%)	8mo	$320,000	$138	44
847 Myrtle Ave	0.75mi	6/2.0 (+1)	2,736 (+4%)	8mo	$295,000	$108	44
24 Kent St	0.63mi	6/2.0 (+1)	2,364 (-10%)	4mo	$210,000	$89	40
409 Elk St	0.66mi	5/2.0	2,312 (-12%)	8mo	$126,000	$54	38
789 Park Ave	0.61mi	6/2.0 (+1)	3,000 (+14%)	6mo	$359,000	$120	35

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.27×
• Total profit: $21,701
• Equity at exit: $43,091

10-year hold

• IRR: 18.0%
• Equity multiple: 2.65×
• Total profit: $133,130
• Equity at exit: $24,987

Cash invested: $80,920 (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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 99
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $4,033 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$611 /mo · $7,329/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$847
• Net cashflow: $939

Break-even live

Break-even rent $2,844

Max offer price $289,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,032
Total (2 units)			$4,033

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	44d	1	0.14mi
57 S Main Ave Albany, NY	4.0	1.0	2695	$1,600	$0.59	44d	1	0.71mi
69 Winthrop Ave Albany, NY	6.0	2.0	2800	$2,795	$1.00	23d	1	1.18mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	44d	1	1.35mi

Listing history 36 events

1. 2026-06-18
   days on market $289,000 Active 34 DOM
2. 2026-06-17
   days on market $289,000 Active 33 DOM
3. 2026-06-16
   days on market $289,000 Active 32 DOM
4. 2026-06-15
   days on market $289,000 Active 31 DOM
5. 2026-06-14
   days on market $289,000 Active 29 DOM
6. 2026-06-10
   days on market $289,000 Active 26 DOM
7. 2026-06-08
   days on market $289,000 Active 24 DOM
8. 2026-06-07
   days on market $289,000 Active 23 DOM
9. 2026-06-03
   days on market $289,000 Active 19 DOM
10. 2026-06-02
    days on market $289,000 Active 18 DOM
11. 2026-06-01
    days on market $289,000 Active 17 DOM
12. 2026-05-31
    days on market $289,000 Active 16 DOM
13. 2026-05-31
    days on market $289,000 Active 15 DOM
14. 2026-05-13
    listed $289,000 Active 509-char remark
15. 2018-08-01
    historical
16. 2018-06-19
    price $199,900
17. 2018-05-24
    listed $219,900 New
18. 2017-11-01
    status Pend (Under Cntr)

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

19. 2017-10-31
    soldstatus $62,999 Closed (Final Sale)

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

20. 2017-09-26
    price $62,900

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

21. 2017-09-15
    status Back On Market

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

22. 2017-08-12
    price $72,900

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

23. 2017-08-11
    status Pend (Under Cntr)

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

24. 2017-07-08
    price $82,900

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

25. 2017-06-08
    price $92,900

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

26. 2017-06-07
    status Price Change

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

27. 2017-03-20
    status Pend (Under Cntr)

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

28. 2017-02-25
    listed $119,500 New

    Show marketing remark (234 chars)

    “Listing Broker and Seller assume no responsibility and make no guarantees, representations, warranties (express, implied or otherwise) as to the availability or accuracy of information contained herein.” -- Good Condition

29. 2005-06-16
    soldstatus $132,500
30. 2004-11-30
    soldstatus $125,000
31. 2004-11-10
    historical
32. 2004-11-03
    listed $129,150
33. 2004-03-09
    soldstatus $100,000
34. 2004-02-27
    soldstatus $100,000
35. 2003-12-31
    historical
36. 2003-10-16
    listed $115,500

ⓘ 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: $7,329 · $611/mo
• Projected year-2 tax: $7,329 · $611/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: $48,396
• − Mortgage interest: −$16,188
• − Property taxes: −$7,329
• − Insurance: −$1,445
• − Repairs & maintenance: −$3,872
• − Management: −$3,872
• − Depreciation: −$8,407
• Taxable income: $7,283
• Est. tax owed @ 24.0%: −$1,748
• After-tax cash flow: $9,524/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): 23,289
• Household income: $70,413
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1952.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 12% Asian 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Italian 3% Scotch-Irish 3%
• Foreign-born: 16% · Canada, China, Philippines
• Languages at home: 83% English-only · Other Indo-European 4% Other Asian/Pacific 3% French/Haitian/Cajun 2%

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: ▼ -120.46%
• Current HPI: 279.716
• Rent YoY: ▲ 5.05%
• 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

+150.2% since first listed

23 events — show timeline

• 2026-05-13 Listed $289,000 Global MLS
• 2018-08-01 Listing Removed — Global MLS
• 2018-06-19 Price Changed $199,900 Global MLS
• 2018-05-24 Listed $219,900 Global MLS
• 2017-11-01 Pending — Global MLS
• 2017-10-31 Sold (MLS) $62,999 Global MLS
• 2017-09-26 Price Changed $62,900 Global MLS
• 2017-09-15 Relisted — Global MLS
• 2017-08-12 Price Changed $72,900 Global MLS
• 2017-08-11 Pending — Global MLS
• 2017-07-08 Price Changed $82,900 Global MLS
• 2017-06-08 Price Changed $92,900 Global MLS
• 2017-06-07 Relisted — Global MLS
• 2017-03-20 Pending — Global MLS
• 2017-02-25 Listed $119,500 Global MLS
• 2005-06-16 Sold (Public Records) $132,500 Public Records
• 2004-11-30 Sold (MLS) $125,000 Global MLS
• 2004-11-10 Listing Removed — Global MLS
• 2004-11-03 Listed $129,150 Global MLS
• 2004-03-09 Sold (Public Records) $100,000 Public Records
• 2004-02-27 Sold (MLS) $100,000 Global MLS
• 2003-12-31 Listing Removed — Global MLS
• 2003-10-16 Listed $115,500 Global MLS

Property tax history

+2.6%/yr

Latest (2025): $7,329 · -1.5% YoY. Source: county tax records.