235 6th Ave · Troy, NY 12180

$205,000

6 bd · 2.0 ba · 2,608 sqft · MultiFamily public records · 7 Days on market

Built 1890 3,920 sqft lot Est $258k · 21% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Schools +2.8/10.0
• 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

Sharp, well maintained, and fully rented 2-family near Knickerbocker Park. Excellent tenants, off-street parking, many updates. $32,290 current gross annual rental income w/ minimal expenses. Investor is unloading portfolio...great opportunities for a package deal or two. Check 31 Bond St (Troy) and 138 President St (Troy)

Key facts

• Solid bones
• Classic architecture
• Off-street parking

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• OFF-STREET PARKING
• CLASSIC ARCHITECTURE
• SOLID BONES
• ESTABLISHED TROY NEIGHBORHOOD

Property features AI

Finance

• Financial info: Property configured as a 2-unit multifamily; tenants pay hot water, heat, internet, cable TV, and electricity

Exterior

• Parking: Detached tandem garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; 2,608 total living area; Vinyl and wood siding
• Construction: Shingle/asphalt roof
• Exterior features: Deck; Level lot

Interior

• Bedrooms: Two units each with 3 bedrooms
• Flooring: Hardwood
• Bathrooms: Each unit has 1 full bathroom; One full bath on the 1st level and one full bath on the 2nd level (overall property total: 2 full baths)
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: Hardwood floors; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $512/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Cap rate 12.6% 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.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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 $3,389/mo this rent would consume 54% 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 $1k of loan paydown is wiped out by about $6k 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 $57k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y 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 $175k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,000

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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.65% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.57%
• DSCR: 2.00
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $258,192
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 6th Ave	0.17mi	6/2.0	2,454 (-6%)	1mo	$220,000	$90	81
83 2nd Ave	0.40mi	6/3.0	2,608 (0%)	2mo	$375,000	$144	75
146 6th Ave	0.24mi	6/2.5	2,770 (+6%)	5mo	$265,000	$96	72
137 2nd Ave	0.29mi	6/2.0	2,396 (-8%)	3mo	$220,000	$92	71
33 Second Ave	0.50mi	6/2.0	2,620 (+0%)	7mo	$150,000	$57	70
343 4th Ave	0.33mi	6/4.0	2,652 (+2%)	8mo	$290,000	$109	67
288 5th Ave	0.15mi	6/2.0	2,216 (-15%)	4mo	$140,000	$63	64
145 7th Ave	0.26mi	6/2.0	2,292 (-12%)	8mo	$264,250	$115	61
58 6th Ave	0.46mi	6/2.0	2,424 (-7%)	8mo	$270,000	$111	60
57 5th Ave	0.46mi	7/2.0 (+1)	2,418 (-7%)	4mo	$240,000	$99	58
48 5th Ave	0.47mi	6/2.0	2,238 (-14%)	2mo	$236,500	$106	53
872 River St	0.63mi	5/2.0 (-1)	2,472 (-5%)	8mo	$140,000	$57	50

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: 16.3%
• Equity multiple: 1.67×
• Total profit: $38,733
• Equity at exit: $30,566

10-year hold

• IRR: 26.4%
• Equity multiple: 3.55×
• Total profit: $146,361
• Equity at exit: $17,725

Cash invested: $57,400 (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: 10.1×

Monthly cashflow live

• Estimated rent: $3,389 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$437 /mo · $5,247/yr
• Insurance: −$85
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$712
• Net cashflow: $1,024

Break-even live

Break-even rent $2,093

Max offer price $205,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,390
Total (2 units)			$3,389

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-04-15
   status Pending
2. 2026-04-08
   listed $205,000 Active
3. 2022-04-26
   soldstatus $175,000
4. 2022-02-21
   status Pending 324-char remark

   Show marketing remark (324 chars)

   Sharp, well maintained, and fully rented 2-family near Knickerbocker Park. Excellent tenants, off-street parking, many updates. $32,290 current gross annual rental income w/ minimal expenses. Investor is unloading portfolio...great opportunities for a package deal or two. Check 31 Bond St (Troy) and 138 President St (Troy)

5. 2022-02-12
   historical

   Show marketing remark (324 chars)

   Sharp, well maintained, and fully rented 2-family near Knickerbocker Park. Excellent tenants, off-street parking, many updates. $32,290 current gross annual rental income w/ minimal expenses. Investor is unloading portfolio...great opportunities for a package deal or two. Check 31 Bond St (Troy) and 138 President St (Troy)

6. 2022-02-12
   listed $175,000 Active 324-char remark

   Show marketing remark (324 chars)

   Sharp, well maintained, and fully rented 2-family near Knickerbocker Park. Excellent tenants, off-street parking, many updates. $32,290 current gross annual rental income w/ minimal expenses. Investor is unloading portfolio...great opportunities for a package deal or two. Check 31 Bond St (Troy) and 138 President St (Troy)

7. 2021-08-11
   listed $175,000 New
8. 2019-07-10
   soldstatus $125,000
9. 2019-06-28
   soldstatus $125,000 Closed (Final Sale)
10. 2019-05-21
    status Pend (Under Cntr)
11. 2019-05-13
    listed $130,000 New
12. 2011-03-28
    soldstatus $105,000
13. 2011-03-23
    soldstatus $105,000
14. 2011-02-23
    historical
15. 2011-01-23
    listed $114,900
16. 2010-12-28
    historical
17. 2010-05-14
    listed $114,800
18. 2008-03-12
    historical
19. 2007-08-31
    listed $61,600
20. 1997-08-04
    soldstatus $100,352

ⓘ 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: $5,247 · $437/mo
• Projected year-2 tax: $5,247 · $437/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 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 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: $40,668
• − Mortgage interest: −$11,483
• − Property taxes: −$5,247
• − Insurance: −$1,692
• − Repairs & maintenance: −$3,253
• − Management: −$3,253
• − Depreciation: −$5,964
• Taxable income: $9,776
• Est. tax owed @ 24.0%: −$2,346
• After-tax cash flow: $9,943/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 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

+104.3% since first listed

20 events — show timeline

• 2026-04-15 Pending — Global MLS
• 2026-04-08 Listed $205,000 Global MLS
• 2022-04-26 Sold (Public Records) $175,000 Public Records
• 2022-02-21 Pending — Global MLS
• 2022-02-12 Listing Removed — Global MLS
• 2022-02-12 Listed $175,000 Global MLS
• 2021-08-11 Listed $175,000 Global MLS
• 2019-07-10 Sold (Public Records) $125,000 Public Records
• 2019-06-28 Sold (MLS) $125,000 Global MLS
• 2019-05-21 Pending — Global MLS
• 2019-05-13 Listed $130,000 Global MLS
• 2011-03-28 Sold (Public Records) $105,000 Public Records
• 2011-03-23 Sold (MLS) $105,000 Global MLS
• 2011-02-23 Listing Removed — Global MLS
• 2011-01-23 Listed $114,900 Global MLS
• 2010-12-28 Listing Removed — Global MLS
• 2010-05-14 Listed $114,800 Global MLS
• 2008-03-12 Listing Removed — Global MLS
• 2007-08-31 Listed $61,600 Global MLS
• 1997-08-04 Sold (Public Records) $100,352 Public Records

Property tax history

+1.5%/yr

Latest (2025): $5,247 · +17.2% YoY. Source: county tax records.