43 Myrtle Ave · Albany, NY 12202

$369,900

3 bd · 3.0 ba · 2,376 sqft · MultiFamily public records · 20 Days on market

Built 1880 2,613 sqft lot Est $347k · 7% over

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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 +13.6/30.0
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• ARV discount +4.5/15.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

This duplex is conveniently located in the historic Mansion neighborhood. The bedrooms are spacious and each unit has washer and dryer hookups. The two-story unit has a full bathroom on the first floor. The second floor has two bedrooms and a full bathroom. This property also has a two car driveway! The backyard has a large deck for relaxing or entertaining. The basement unit has one bedroom.

Key facts

• Turnkey investment
• Two car parking lot
• 2,613 sq ft lot

Tags

• INCOME PRODUCING BROWNSTONE
• HISTORIC MANSION NEIGHBORHOOD
• CHARMING GARDEN APARTMENT
• TWO CAR PARKING LOT
• TURNKEY INVESTMENT

Property features AI

Exterior

• Parking: Private driveway with space for 2 vehicles
• Utilities: Public water; Sewer: Other
• Home design: Duplex; Living area approximately 2,376
• Construction: Construction materials: Other
• Exterior features: Other exterior features

Interior

• Bedrooms: Unit 1 has 3 bedrooms; Unit 2 has 1 bedroom
• Bathrooms: Three full bathrooms total (one on the 1st floor, one on the 2nd floor, one in the basement); Unit 1 has 2 full bathrooms; Unit 2 has 1 full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Basement contains an apartment

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $20 ($243/yr) — positive. Per door: $10/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $319k (13.8% below list).
• Recommended offer: $319k (13.8% below list) — sets the bar for 1% rule.

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 (+8.7%/yr); 58 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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

• In year one you build about $40k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $104k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $250k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $318,800 (13.8% below list)

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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.86% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $346,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
184 Elm St	0.34mi	4/2.0 (+1)	2,394 (+1%)	7mo	$375,000	$157	68
208 Elm St	0.39mi	4/3.0 (+1)	2,508 (+6%)	3mo	$420,000	$167	65
369 Madison Ave	0.47mi	3/2.0	2,280 (-4%)	4mo	$230,000	$101	64
148 Dove St	0.45mi	2/2.0 (-1)	2,400 (+1%)	9mo	$239,999	$100	60
314 Hudson Ave	0.56mi	3/3.5	2,350 (-1%)	12mo	$470,000	$200	59
285.5 Hudson Ave	0.51mi	4/4.0 (+1)	2,478 (+4%)	5mo	$430,000	$174	56
8 Avondale Ter	0.61mi	4/2.0 (+1)	2,296 (-3%)	2mo	$189,000	$82	55
48 Second Ave	0.54mi	2/2.0 (-1)	2,334 (-2%)	13mo	$150,000	$64	52
279 Lark St	0.65mi	4/3.0 (+1)	2,309 (-3%)	13mo	$325,000	$141	49
242 Elm St	0.48mi	3/2.5	2,112 (-11%)	11mo	$304,000	$144	48
144 Jay St	0.49mi	4/2.0 (+1)	2,220 (-7%)	14mo	$325,000	$146	46
339 Hudson Ave	0.62mi	3/2.0	2,160 (-9%)	14mo	$370,000	$171	40

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 3.12×
• Total profit: $219,609
• Equity at exit: $333,235

10-year hold

• IRR: 24.3%
• Equity multiple: 7.64×
• Total profit: $687,459
• Equity at exit: $718,634

Cash invested: $103,572 (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 12202

• Home prices YoY: 14.3%
• Rents YoY: 8.7%
• Active inventory: 58
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $3,188 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$404 /mo · $4,852/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$669
• Net cashflow: $20

Break-even live

Break-even rent $3,162

Max offer price $369,900

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,188
Total (2 units)			$3,188

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	43d	1	0.15mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	43d	1	0.36mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	14d	17	0.56mi
41 Dove St Albany, NY	2.0	2.5	2400	$2,350	$0.98	14d	1	0.59mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	43d	1	0.63mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	21d	1	0.81mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	43d	1	0.83mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	14d	1	1.17mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	43d	1	1.39mi
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	43d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   status $369,900 Pending 20 DOM
2. 2026-06-18
   days on market $369,900 Active 20 DOM
3. 2026-06-17
   days on market $369,900 Active 19 DOM
4. 2026-06-16
   days on market $369,900 Active 18 DOM
5. 2026-06-15
   days on market $369,900 Active 17 DOM
6. 2026-06-14
   days on market $369,900 Active 15 DOM
7. 2026-06-10
   days on market $369,900 Active 12 DOM
8. 2026-06-08
   days on market $369,900 Active 10 DOM
9. 2026-06-07
   days on market $369,900 Active 9 DOM
10. 2026-06-03
    days on market $369,900 Active 5 DOM
11. 2026-06-02
    days on market $369,900 Active 4 DOM
12. 2026-06-01
    days on market $369,900 Active 3 DOM
13. 2026-05-31
    days on market $369,900 Active 2 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    listed $369,900 Active 1 DOM

ⓘ 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: $4,852 · $404/mo
• Projected year-2 tax: $5,552 · $463/mo
• Expected delta: +$700/yr (+$58/mo · 14.4%)

ⓘ 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 ≥98°F today · 17 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: $38,256
• − Mortgage interest: −$20,720
• − Property taxes: −$4,852
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,060
• − Management: −$3,060
• − Depreciation: −$10,761
• Taxable loss: −$6,047
• Est. tax savings @ 24.0%: +$1,451
• After-tax cash flow: $1,695/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): 10,166
• Household income: $52,868
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 935.0

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 0.73)
• Race & ethnicity: Black 40% White 28% Hispanic / Latino 15% Two or more races 14% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 5%
• Common ancestry: Iranian 2% Romanian 1% Serbian 1%
• Foreign-born: 14% · Canada, Philippines, China
• Languages at home: 80% English-only · Spanish 10% Other Asian/Pacific 4% Arabic 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: ▲ 38.05%
• Current HPI: 303.8939
• Rent YoY: ▲ 8.70%
• 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

+28.4% since first listed

6 events — show timeline

• 2026-05-29 Listed $369,900 Global MLS
• 2024-04-02 Sold (Public Records) $250,000 Public Records
• 2024-03-27 Sold (MLS) $250,000 Global MLS
• 2023-12-13 Pending — Global MLS
• 2023-11-15 Price Changed $270,000 Global MLS
• 2023-10-23 Listed $288,000 Global MLS

Property tax history

-0.6%/yr

Latest (2025): $4,852 · +12.6% YoY. Source: county tax records.