None · Schenectady, NY 12305

$375,000

3 bd · 2.0 ba · 2,578 sqft · MultiFamily · 97 Days on market

Built 1900 Good condition 3,920 sqft lot $145/sqft · 10% below area Est $419k · 10% under ↓ 7% since listing

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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).

• ARV discount +12.2/15.0
• Cash flow +11.8/30.0
• Appreciation +6.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Endless potential at 703 Union Street. This fully vacant mixed-use property is ready for its next owner and offers the flexibility to fit a variety of business or investment opportunities. The first floor features a commercial space with a full kitchen, hood system, and code-compliant ventilation, while the second floor offers a renovated three-bedroom apartment. Located just minutes from Union College with excellent visibility, off-street parking, and handicap-accessible entry, this is a prime location in an area seeing continued growth and redevelopment.

Key facts

• Full kitchen
• Commercial space
• Renovated apartment

Tags

• MIXED-USE PROPERTY
• COMMERCIAL SPACE
• FULL KITCHEN
• HOOD SYSTEM
• CODE-COMPLIANT VENTILATION
• RENOVATED APARTMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $375k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $360k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (15.9% below list).
• Recommended offer: $315k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.5% 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: 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.
• Zoned schools: Howe Elementary School (math 44% / reading 54%, grade D, #1,085 of 2,108 statewide, top 56%, 363 students, 69% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 49% at this address vs 36% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 38 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $3,152/mo this rent would consume 71% of the median local household income ($53k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($3k loan paydown + $12k appreciation (3.2% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $315,200 (15.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.84% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (median comp): $418,753
• List price: $375,000
• Delta: -10.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113-115 S Ferry St	0.52mi	2/4.5 (-1)	2,558 (-1%)	0mo	$310,000	$121	59
18 N Jay St	0.14mi	4/2.0 (+1)	2,290 (-11%)	15mo	$257,500	$112	57
124 Front St	0.48mi	2/2.0 (-1)	2,490 (-3%)	20mo	$149,900	$60	50
615 Nott St	0.49mi	4/2.0 (+1)	2,668 (+4%)	20mo	$196,000	$73	50
836 Union St	0.36mi	4/4.0 (+1)	2,209 (-14%)	1mo	$375,000	$170	46
708 Westover Pl	0.64mi	4/4.0 (+1)	2,348 (-9%)	21mo	$230,000	$98	24

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

Projected returns pro-forma

3.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.41×
• Total profit: $42,765
• Equity at exit: $172,877

10-year hold

• IRR: 9.7%
• Equity multiple: 2.49×
• Total profit: $156,492
• Equity at exit: $269,784

Cash invested: $105,000 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 4 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $265,000 ($118/sqft)
• Median days on market: 45 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +37.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12305

• Home prices YoY: 1.2%
• Active inventory: 38
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $3,152 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $-101

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,679
1× unit	0	1	$1,474
Total (2 units)			$3,152

Break-even live

Break-even rent $3,280

Max offer price $360,318

Occupancy floor 98%

Sensitivity live

Price	-10% $158	-5% $28	+0% $-101	+5% $-231	+10% $-361
Rent	-10% $-350	-5% $-226	+0% $-101	+5% $23	+10% $148
Rate	-1.0pp $87	-0.5pp $-6	base $-101	+0.5pp $-199	+1.0pp $-297

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: $93,750
• Closing costs: $11,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
602 Union St Apt 11 Schenectady, NY	1.0	1.0	—	$1,000	—	25d	1	0.07mi
27 Lafayette St Apt 5 Schenectady, NY	1.0	1.0	—	$950	—	35d	1	0.10mi
1059 Barrett St Unit 2 Schenectady, NY	1.0	1.0	1100	$1,525	$1.39	107d	1	0.11mi
1102 Barrett St Schenectady, NY	1.0	1.0	—	$1,294	—	10d	1	0.12mi
1102 Barrett St Schenectady, NY	2.0	1.0	—	$1,294	—	164d	1	0.12mi
1102 Barrett St Schenectady, NY	1.0	1.0	—	$1,144	—	107d	1	0.12mi
101 Nott Ter #304 Schenectady, NY	2.0	1.0	1250	$1,795	$1.44	10d	1	0.19mi
101 Nott Ter #109 Schenectady, NY	2.0	1.0	1070	$1,645	$1.54	27d	1	0.20mi
101 Nott Ter #307 Schenectady, NY	2.0	1.0	1100	$1,595	$1.45	10d	1	0.20mi
101 Nott Ter #109 Schenectady, NY	2.0	1.0	1070	$1,645	$1.54	10d	1	0.20mi
404 Union St Apt 7 Schenectady, NY	2.0	1.0	—	$1,350	—	184d	1	0.22mi
118 Jay St Apt -09 Schenectady, NY	1.0	1.0	560	$1,195	$2.13	51d	1	0.26mi
123 Jay St Unit 2 Schenectady, NY	1.0	1.0	400	$875	$2.19	37d	1	0.28mi
23 Monroe St Unit 23 2R Schenectady, NY	2.0	1.0	800	$1,325	$1.66	155d	1	0.31mi
13 John St Unit 2 Schenectady, NY	2.0	1.0	1000	$1,600	$1.60	2d	1	0.34mi
13 John St Unit 1 Schenectady, NY	2.0	1.0	1000	$1,900	$1.90	2d	1	0.34mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	160d	1	0.35mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	164d	1	0.36mi
251 Green St Unit 2C Schenectady, NY	1.0	1.0	—	$1,350	—	155d	1	0.37mi
304 Front St Fl Left Schenectady, NY	1.0	1.0	750	$1,550	$2.07	155d	1	0.37mi
834 Union St Apt 3 Schenectady, NY	2.0	1.0	700	$1,175	$1.68	2d	1	0.37mi
253 Park Pl #1 Schenectady, NY	2.0	1.0	—	$1,500	—	160d	1	0.37mi
838 Union St Unit 1F Schenectady, NY	1.0	1.0	600	$1,045	$1.74	0d	1	0.39mi
838 Union St Apt 5 Schenectady, NY	1.0	1.0	900	$1,095	$1.22	6d	1	0.39mi
126 N College St #2 Schenectady, NY	1.0	1.0	780	$1,325	$1.70	5d	1	0.39mi
126 N College St #2 Schenectady, NY	1.0	1.0	780	$1,325	$1.70	0d	1	0.39mi
101 Prospect St Schenectady, NY	2.0	1.0	1092	$1,800	$1.65	10d	1	0.39mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	164d	1	0.40mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	10d	1	0.40mi
225 Green St Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	0d	1	0.44mi
852 Union St Schenectady, NY	2.0	1.0	—	$1,394	—	164d	1	0.44mi
1053 Gillespie St #2 Schenectady, NY	2.0	1.0	—	$2,000	—	2d	1	0.45mi
192 Erie Blvd Apt 706 Schenectady, NY	1.0	1.0	889	$1,600	$1.80	164d	1	0.46mi
192 Erie Blvd Apt 607 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	184d	1	0.46mi
192 Erie Blvd Apt 401 Schenectady, NY	1.0	1.0	819	$1,595	$1.95	184d	1	0.46mi
192 Erie Blvd Schenectady, NY	1.0	1.0	895	$1,595	$1.78	162d	1	0.46mi
192 Erie Blvd Apt 408 Schenectady, NY	1.0	1.0	902	$1,695	$1.88	10d	1	0.46mi
192 Erie Blvd Apt 405 Schenectady, NY	1.0	1.0	926	$1,595	$1.72	37d	1	0.46mi
192 Erie Blvd Unit 508 Schenectady, NY	1.0	1.0	932	$1,715	$1.84	184d	1	0.46mi
192 Erie Blvd Apt 502 Schenectady, NY	1.0	1.0	915	$1,495	$1.63	155d	1	0.46mi

Property features AI

Finance

• Financial info: Two total units

Exterior

• Parking: 6 parking spaces
• Utilities: Public waterPublic sewer
• Home design: Duplex2,578 living area
• Construction: Brick and vinyl siding construction
• Exterior features: Other exterior features

Interior

• Bedrooms: One unit has 3 bedrooms
• Bathrooms: One full bathroom and two half bathrooms (three total)
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: Full basement

Listing history 50 events

1. 2026-11-08
   days on market $375,000 Active 97 DOM
2. 2026-11-07
   days on market $375,000 Active 96 DOM
3. 2026-11-06
   days on market $375,000 Active 95 DOM
4. 2026-11-05
   days on market $375,000 Active 94 DOM
5. 2026-11-04
   days on market $375,000 Active 93 DOM
6. 2026-11-02
   days on market $375,000 Active 91 DOM
7. 2026-11-01
   days on market $375,000 Active 90 DOM
8. 2026-10-31
   days on market $375,000 Active 89 DOM
9. 2026-10-30
   days on market $375,000 Active 88 DOM
10. 2026-10-29
    days on market $375,000 Active 87 DOM
11. 2026-10-28
    days on market $375,000 Active 86 DOM
12. 2026-10-27
    days on market $375,000 Active 85 DOM
13. 2026-10-26
    days on market $375,000 Active 84 DOM
14. 2026-10-25
    days on market $375,000 Active 83 DOM
15. 2026-10-24
    days on market $375,000 Active 82 DOM
16. 2026-10-23
    days on market $375,000 Active 81 DOM
17. 2026-10-22
    days on market $375,000 Active 80 DOM
18. 2026-10-21
    days on market $375,000 Active 79 DOM
19. 2026-10-20
    days on market $375,000 Active 78 DOM
20. 2026-10-19
    days on market $375,000 Active 77 DOM
21. 2026-10-18
    days on market $375,000 Active 76 DOM
22. 2026-10-17
    days on market $375,000 Active 75 DOM
23. 2026-10-16
    days on market $375,000 Active 74 DOM
24. 2026-10-15
    days on market $375,000 Active 73 DOM
25. 2026-10-14
    days on market $375,000 Active 72 DOM
26. 2026-10-13
    days on market $375,000 Active 71 DOM
27. 2026-10-12
    days on market $375,000 Active 70 DOM
28. 2026-10-11
    days on market $375,000 Active 69 DOM
29. 2026-10-10
    days on market $375,000 Active 68 DOM
30. 2026-10-09
    days on market $375,000 Active 67 DOM
31. 2026-10-08
    days on market $375,000 Active 66 DOM
32. 2026-10-07
    days on market $375,000 Active 65 DOM
33. 2026-10-06
    days on market $375,000 Active 64 DOM
34. 2026-10-05
    days on market $375,000 Active 63 DOM
35. 2026-10-04
    days on market $375,000 Active 62 DOM
36. 2026-10-03
    days on market $375,000 Active 61 DOM
37. 2026-10-02
    days on market $375,000 Active 60 DOM
38. 2026-10-01
    days on market $375,000 Active 59 DOM
39. 2026-09-30
    days on market $375,000 Active 58 DOM
40. 2026-09-29
    days on market $375,000 Active 57 DOM
41. 2026-09-28
    days on market $375,000 Active 56 DOM
42. 2026-09-27
    days on market $375,000 Active 55 DOM
43. 2026-09-25
    days on market $375,000 Active 53 DOM
44. 2026-09-24
    days on market $375,000 Active 52 DOM
45. 2026-09-23
    days on market $375,000 Active 51 DOM
46. 2026-09-22
    days on market $375,000 Active 50 DOM
47. 2026-09-21
    days on market $375,000 Active 49 DOM
48. 2026-09-20
    days on market $375,000 Active 48 DOM
49. 2026-09-19
    days on market $375,000 Active 47 DOM
50. 2026-09-18
    days on market $375,000 Active 46 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,824
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,026
• − Management: −$3,026
• − Depreciation: −$10,909
• Taxable loss: −$7,643
• Est. tax savings @ 24.0%: +$1,834
• After-tax cash flow: $617/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $12,890–$38,670 screening

This multi-family property offers a successful restaurant on the ground floor and a fully updated apartment above. The property is in good condition with minor repairs needed, and has the potential for significant value increases through cosmetic updates and landscaping improvements.

Repairs flagged

• Minor Kitchen cabinets — Paint may need touch-ups.
• Minor Kitchen countertops — Paint may need touch-ups.
• Minor Kitchen appliances — No visible damage, but may need cleaning or minor repairs.

Value-add opportunities

• Both Paint touch-ups — Fresh paint can improve the overall appearance and value of the property. ↑
• Both Replace outdated kitchen appliances — Modern appliances can increase the appeal and functionality of the kitchen. ↑
• Both Landscaping improvements — A well-maintained landscape can enhance curb appeal and property value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Yates Elementary School F NY #1,972/2,108 Nat'l #33,508/41,679 Middle Oneida Middle School F NY #611/729 Nat'l #10,474/14,009 High Schenectady High School A NY #446/1,100 Nat'l #889/17,239

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

B Composite livability gradescore 78/100

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 · 155,046 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 7,356
• Household income: $53,326
• Rent vs Own: 85.4% rent · 14.6% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Black 20% Two or more races 14% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Russian/Polish/Slavic 1%

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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: ▲ 3.20%
• Current HPI: 276.7183
• Rent YoY: —
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Financial info: Two total units

Exterior

• Parking: 6 parking spaces
• Utilities: Public waterPublic sewer
• Home design: Duplex2,578 living area
• Construction: Brick and vinyl siding construction
• Exterior features: Other exterior features

Interior

• Bedrooms: One unit has 3 bedrooms
• Bathrooms: One full bathroom and two half bathrooms (three total)
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: Full basement

Price history

-7.4% since first listed

6 events — show timeline

• 2026-08-03 Listed $375,000 Global MLS
• 2026-08-01 Listing Removed — Global MLS
• 2026-05-04 Price Changed $375,000 Global MLS
• 2026-03-31 Listed $405,000 Global MLS
• 2025-12-09 Listing Removed — Global MLS
• 2025-12-08 Listed $405,000 Global MLS