2422 Lavin Ct · Troy, NY 12180

$309,000

6 bd · 2.0 ba · 2,612 sqft · MultiFamily public records · 6 Days on market

Built 1940 5,227 sqft lot Est $293k · 6% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +5.0/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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

Investor opportunity! This spacious multifamily property is being sold as-is and offers strong potential for rental income or owner-occupant use. Featuring 3 bedrooms and 1 bathroom per floor, large square footage, and a 1-car garage. Located just a short walk to Frear Park and minutes from RPI, downtown Troy, and highways. Recent updates include a new 200-amp electrical panel, separate water and electrical meters, new gas meter, high-efficiency hot air furnace on the first floor, new front steps, rear deck steps, and several updated windows on the second floor. With some finishing touches, this property could be a great addition to any investment portfolio.

Key facts

• Quartz countertops
• Updated windows
• Modern finishes

Tags

• BRIGHT OPEN INTERIORS
• MODERN FINISHES
• UPDATED KITCHENS
• QUARTZ COUNTERTOPS
• NEW CABINETRY
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $309k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $309k).
• Cap rate 11.1% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $4,442/mo this rent would consume 70% of the median local household income ($76k/yr) (locally 2698% 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 $9k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $87k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $186k; list at $309k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $309,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.44% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.16%
• DSCR: 1.76
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $292,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2415 Lavin Ct	0.05mi	6/2.0	2,448 (-6%)	9mo	$300,000	$123	80
2347 17th St	0.16mi	6/2.0	2,672 (+2%)	13mo	$340,000	$127	78
2333 15th St	0.21mi	7/2.0 (+1)	2,784 (+7%)	6mo	$300,000	$108	69
31 N Lake Ave	0.66mi	6/2.0	2,674 (+2%)	1mo	$300,000	$112	65
281 10th St	0.40mi	7/2.0 (+1)	2,536 (-3%)	9mo	$386,000	$152	64
301 8th St	0.50mi	6/3.0	2,720 (+4%)	8mo	$405,000	$149	59
374 8th St	0.43mi	5/2.0 (-1)	2,348 (-10%)	2mo	$197,000	$84	57
22 N Lake Ave	0.69mi	6/2.0	2,702 (+3%)	11mo	$245,000	$91	53
380 8th St	0.42mi	7/2.0 (+1)	2,420 (-7%)	12mo	$224,000	$93	53
179 9th St	0.47mi	6/2.0	2,300 (-12%)	11mo	$290,000	$126	49
747 River St	0.74mi	5/2.0 (-1)	2,508 (-4%)	9mo	$115,000	$46	47
850 Peoples Ave	0.64mi	7/2.0 (+1)	2,804 (+7%)	10mo	$290,000	$103	45

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.43×
• Total profit: $37,424
• Equity at exit: $46,073

10-year hold

• IRR: 21.3%
• Equity multiple: 2.98×
• Total profit: $171,151
• Equity at exit: $26,717

Cash invested: $86,520 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $4,442 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$523 /mo · $6,276/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $1,237

Break-even live

Break-even rent $2,876

Max offer price $309,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,412	-5% $1,324	+0% $1,237	+5% $1,150	+10% $1,062
Rent	-10% $886	-5% $1,062	+0% $1,237	+5% $1,412	+10% $1,588
Rate	-1.0pp $1,393	-0.5pp $1,316	base $1,237	+0.5pp $1,157	+1.0pp $1,075

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,443
Total (3 units)			$4,442

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-23
   status Pending
2. 2026-04-16
   listed $309,000 Active
3. 2025-09-16
   soldstatus $186,000
4. 2025-08-27
   soldstatus $186,000 Closed 666-char remark

   Show marketing remark (666 chars)

   Investor opportunity! This spacious multifamily property is being sold as-is and offers strong potential for rental income or owner-occupant use. Featuring 3 bedrooms and 1 bathroom per floor, large square footage, and a 1-car garage. Located just a short walk to Frear Park and minutes from RPI, downtown Troy, and highways. Recent updates include a new 200-amp electrical panel, separate water and electrical meters, new gas meter, high-efficiency hot air furnace on the first floor, new front steps, rear deck steps, and several updated windows on the second floor. With some finishing touches, this property could be a great addition to any investment portfolio.

5. 2025-07-19
   historical Contingent 666-char remark

   Show marketing remark (666 chars)

   Investor opportunity! This spacious multifamily property is being sold as-is and offers strong potential for rental income or owner-occupant use. Featuring 3 bedrooms and 1 bathroom per floor, large square footage, and a 1-car garage. Located just a short walk to Frear Park and minutes from RPI, downtown Troy, and highways. Recent updates include a new 200-amp electrical panel, separate water and electrical meters, new gas meter, high-efficiency hot air furnace on the first floor, new front steps, rear deck steps, and several updated windows on the second floor. With some finishing touches, this property could be a great addition to any investment portfolio.

6. 2025-07-13
   listed $174,900 Active 666-char remark

   Show marketing remark (666 chars)

   Investor opportunity! This spacious multifamily property is being sold as-is and offers strong potential for rental income or owner-occupant use. Featuring 3 bedrooms and 1 bathroom per floor, large square footage, and a 1-car garage. Located just a short walk to Frear Park and minutes from RPI, downtown Troy, and highways. Recent updates include a new 200-amp electrical panel, separate water and electrical meters, new gas meter, high-efficiency hot air furnace on the first floor, new front steps, rear deck steps, and several updated windows on the second floor. With some finishing touches, this property could be a great addition to any investment portfolio.

7. 2007-04-17
   soldstatus $147,500

ⓘ 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: $6,276 · $523/mo
• Projected year-2 tax: $6,276 · $523/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 · 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 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,304
• − Mortgage interest: −$17,309
• − Property taxes: −$6,276
• − Insurance: −$1,545
• − Repairs & maintenance: −$4,264
• − Management: −$4,264
• − Depreciation: −$8,989
• Taxable income: $10,656
• Est. tax owed @ 24.0%: −$2,558
• After-tax cash flow: $12,286/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+109.5% since first listed

7 events — show timeline

• 2026-04-23 Pending — Global MLS
• 2026-04-16 Listed $309,000 Global MLS
• 2025-09-16 Sold (Public Records) $186,000 Public Records
• 2025-08-27 Sold (MLS) $186,000 Global MLS
• 2025-07-19 Contingent — Global MLS
• 2025-07-13 Listed $174,900 Global MLS
• 2007-04-17 Sold (Public Records) $147,500 Public Records

Property tax history

+15.6%/yr

Latest (2025): $6,276 · -8.7% YoY. Source: county tax records.