9 Jackson Pl · Schenectady, NY 12308

$169,900

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 106 Days on market

Built 1927 1,742 sqft lot $109/sqft · 33% below area Est $254k · 33% under

---

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 +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: 1 unit. estimate disagrees with records

Listing remarks MLS

Astounding investment property located in Schenectady's Union St neighborhood two blocks from Union College. This property has a ton of charm and character that is seen from corner to corner. 2 residential units making this a great addition to any investors portfolio. Don't miss out on this property!

Key facts

• 1,742 sq ft lot
• Built 1927
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $2,876/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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $80k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $170k implies a 209% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.69% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.71%
• DSCR: 1.97
• GRM: 4.9

CMA / ARV

• ARV (median comp): $254,233
• List price: $169,900
• Delta: -33.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Porter St	0.13mi	4/2.0	1,556 (-0%)	12mo	$255,000	$164	83
701 Windsor Ter	0.09mi	4/2.0	1,560 (0%)	22mo	$45,100	$29	77
11 Mynderse St	0.40mi	4/2.0	1,686 (+8%)	1mo	$140,000	$83	67
35 Swan St	0.62mi	4/2.0	1,548 (-1%)	5mo	$2,570	$2	65
136 Elmer Ave	0.51mi	3/2.0 (-1)	1,646 (+6%)	11mo	$228,000	$139	53
34 Columbia St	0.47mi	5/3.0 (+1)	1,600 (+3%)	20mo	$250,000	$156	48
629 Lang St	0.72mi	4/2.0	1,692 (+8%)	6mo	$201,100	$119	48
37 Swan St	0.62mi	4/2.0	1,768 (+13%)	6mo	$240,000	$136	44
1156-1158 Hilderbrandt Ave	0.51mi	4/2.0	1,768 (+13%)	17mo	$20,000	$11	40
1524 Devine St	0.56mi	4/2.0	1,728 (+11%)	22mo	$165,000	$95	37
321 Front St	0.71mi	4/2.0	1,744 (+12%)	15mo	$220,000	$126	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.58×
• Total profit: $27,472
• Equity at exit: $25,333

10-year hold

• IRR: 23.2%
• Equity multiple: 3.00×
• Total profit: $95,273
• Equity at exit: $14,690

Cash invested: $47,572 (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: 9.8×

Monthly cashflow live

• Estimated rent: $2,876 high
• Mortgage (P&I): −$891
• Tax from tax record: −$450 /mo · $5,396/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $861

Break-even live

Break-even rent $1,787

Max offer price $169,900

Occupancy floor 65%

Sensitivity live

Price	-10% $957	-5% $909	+0% $861	+5% $813	+10% $764
Rent	-10% $633	-5% $747	+0% $861	+5% $974	+10% $1,088
Rate	-1.0pp $946	-0.5pp $904	base $861	+0.5pp $817	+1.0pp $772

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,876
Total (2 units)			$2,876

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	44d	1	0.19mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	44d	1	0.54mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	24d	1	0.61mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	44d	1	0.71mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	24d	1	0.74mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	44d	1	0.78mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	44d	1	0.81mi
1755 Avenue B Unit B Schenectady, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	0.91mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	14d	9	0.96mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	14d	1	1.03mi
1165 Cresse Ave Schenectady, NY	3.0	1.0	1196	$2,800	$2.34	14d	1	1.40mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,445	$2.21	14d	1	1.48mi

Listing history 19 events

1. 2026-05-18
   status Pending 301-char remark

   Show marketing remark (301 chars)

   Astounding investment property located in Schenectady's Union St neighborhood two blocks from Union College. This property has a ton of charm and character that is seen from corner to corner. 2 residential units making this a great addition to any investors portfolio. Don't miss out on this property!

2. 2026-05-07
   price $169,900 301-char remark

   Show marketing remark (301 chars)

   Astounding investment property located in Schenectady's Union St neighborhood two blocks from Union College. This property has a ton of charm and character that is seen from corner to corner. 2 residential units making this a great addition to any investors portfolio. Don't miss out on this property!

3. 2026-03-26
   price $189,900 301-char remark

   Show marketing remark (301 chars)

   Astounding investment property located in Schenectady's Union St neighborhood two blocks from Union College. This property has a ton of charm and character that is seen from corner to corner. 2 residential units making this a great addition to any investors portfolio. Don't miss out on this property!

4. 2026-02-11
   price $219,900 301-char remark

   Show marketing remark (301 chars)

   Astounding investment property located in Schenectady's Union St neighborhood two blocks from Union College. This property has a ton of charm and character that is seen from corner to corner. 2 residential units making this a great addition to any investors portfolio. Don't miss out on this property!

5. 2026-01-30
   listed $250,000 Active 301-char remark

   Show marketing remark (301 chars)

   Astounding investment property located in Schenectady's Union St neighborhood two blocks from Union College. This property has a ton of charm and character that is seen from corner to corner. 2 residential units making this a great addition to any investors portfolio. Don't miss out on this property!

6. 2024-12-22
   status Pending
7. 2024-12-21
   historical
8. 2024-09-12
   listed $159,900 Active
9. 2024-07-12
   historical
10. 2024-04-11
    listed $159,900 Active
11. 2024-01-01
    historical
12. 2023-09-12
    listed $175,000 Active
13. 2017-12-29
    soldstatus $55,000
14. 2017-12-28
    soldstatus $55,000 Closed (Final Sale)
15. 2017-11-24
    status Pend (Under Cntr)
16. 2017-11-07
    price $65,000
17. 2017-06-06
    listed $70,000 New
18. 2011-07-02
    historical
19. 2010-10-14
    listed $56,900

ⓘ 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: $5,396 · $450/mo
• Projected year-2 tax: $5,396 · $450/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: $34,512
• − Mortgage interest: −$9,517
• − Property taxes: −$5,396
• − Insurance: −$850
• − Repairs & maintenance: −$2,761
• − Management: −$2,761
• − Depreciation: −$4,943
• Taxable income: $8,285
• Est. tax owed @ 24.0%: −$1,988
• After-tax cash flow: $8,339/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

+198.6% since first listed

19 events — show timeline

• 2026-05-18 Pending — Global MLS
• 2026-05-07 Price Changed $169,900 Global MLS
• 2026-03-26 Price Changed $189,900 Global MLS
• 2026-02-11 Price Changed $219,900 Global MLS
• 2026-01-30 Listed $250,000 Global MLS
• 2024-12-22 Pending — Global MLS
• 2024-12-21 Listing Removed — Global MLS
• 2024-09-12 Listed $159,900 Global MLS
• 2024-07-12 Listing Removed — Global MLS
• 2024-04-11 Listed $159,900 Global MLS
• 2024-01-01 Listing Removed — Global MLS
• 2023-09-12 Listed $175,000 Global MLS
• 2017-12-29 Sold (Public Records) $55,000 Public Records
• 2017-12-28 Sold (MLS) $55,000 Global MLS
• 2017-11-24 Pending — Global MLS
• 2017-11-07 Price Changed $65,000 Global MLS
• 2017-06-06 Listed $70,000 Global MLS
• 2011-07-02 Listing Removed — Global MLS
• 2010-10-14 Listed $56,900 Global MLS

Property tax history

+0.7%/yr

Latest (2025): $5,396 · +3.7% YoY. Source: county tax records.