161.5 Lark St · Albany, NY 12210

$50,000

9 bd · 3.0 ba · 3,300 sqft · Townhouse public records · 1 Days on market

Built 1895 871 sqft lot ↓ 44% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks MLS

Opportunity awaits in the heart of Albany's Lark Street Historic District! Situated on a corner lot, this classic red brick rowhouse is ready for its next chapter. Offered as-is and requiring a full renovation, this property is ideal for investors, contractors, or ambitious buyers looking to build equity and unlock its full potential. R-T zoning allows for use as a Single Family Home, Two Family home, or 3 Family (depending on basement details). Perfect opportunity to flip or BRRRR! STATE TAX CREDITS AVAILABLE. Original hardwood floors, stained glass, and gorgeous ivy provide a glimpse of the character that could be restored, while the finished basement offers additional living space for a family room, office, or even bedroom. Located walking distance to everything Lark Street has to offer, Washington park, Center Square, the Armory, coffee shops, restaurants and more. Whether you're looking for your next fix-and-flip project, airBNB, long-term rental investment, or a chance to create something truly special in one of Albany's most vibrant and walkable neighborhoods, this property presents an exciting opportunity. Bring your vision, tools, and creativity. Properties with this location, character, and upside potential don't come along often. Restore, renovate, and reap the rewards in Albany's sought-after Lark Street neighborhoods.

Key facts

• Walking distance
• Stained glass
• Finished basement

Tags

• CORNER LOT
• FULL RENOVATION
• ORIGINAL HARDWOOD FLOORS
• STAINED GLASS
• FINISHED BASEMENT
• WALKING DISTANCE

Property features AI

Finance

• Other: Lot dimensions approximately 18.8 x 54.9
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: 100 amp electrical service; Public water; Public sewer
• Home design: Townhouse; Living area above a finished below-grade area; Property faces unspecified direction
• Construction: Brick construction; Brick/mortar foundation; Below-grade finished area present (basement finished)
• Exterior features: Flat roof; Back yard fencing; Corner lot

Interior

• Kitchen: Main-level kitchen; Basement kitchen; Includes unspecified/other appliances
• Bedrooms: Primary bedroom on the second level; Additional bedroom(s) on the second level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the second level; Two half bathrooms: one on the first level and one in the basement
• Heating & cooling: Hot water heating (natural gas); Window cooling units
• Interior features: Finished full basement with walk-out access; 10 total rooms; Hardwood flooring; Other kitchen appliances (unspecified)
• Laundry & utility: Washer hookup on the main level

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 41.9% vs local median 5.7% in Albany — 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 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 (+6.9%/yr); 70 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,317/mo this rent would consume 50% of the median local household income ($56k/yr) (locally 1211% 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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1895 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.63% ✓
• Cap rate: 41.93%
• Cash-on-cash: 127.29%
• DSCR: 6.66
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.86% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.85×
• Total profit: $95,861
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 18.64×
• Total profit: $246,942
• Equity at exit: $4,323

Cash invested: $14,000 (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 →

ZIP-level market 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,317 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $1,485

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 31%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark

   Show marketing remark (1352 chars)

   Opportunity awaits in the heart of Albany's Lark Street Historic District! Situated on a corner lot, this classic red brick rowhouse is ready for its next chapter. Offered as-is and requiring a full renovation, this property is ideal for investors, contractors, or ambitious buyers looking to build equity and unlock its full potential. R-T zoning allows for use as a Single Family Home, Two Family home, or 3 Family (depending on basement details). Perfect opportunity to flip or BRRRR! STATE TAX CREDITS AVAILABLE. Original hardwood floors, stained glass, and gorgeous ivy provide a glimpse of the character that could be restored, while the finished basement offers additional living space for a family room, office, or even bedroom. Located walking distance to everything Lark Street has to offer, Washington park, Center Square, the Armory, coffee shops, restaurants and more. Whether you're looking for your next fix-and-flip project, airBNB, long-term rental investment, or a chance to create something truly special in one of Albany's most vibrant and walkable neighborhoods, this property presents an exciting opportunity. Bring your vision, tools, and creativity. Properties with this location, character, and upside potential don't come along often. Restore, renovate, and reap the rewards in Albany's sought-after Lark Street neighborhoods.

2. 2026-06-17
   listed $50,000 Active 1 DOM

   Show marketing remark (1352 chars)

   Opportunity awaits in the heart of Albany's Lark Street Historic District! Situated on a corner lot, this classic red brick rowhouse is ready for its next chapter. Offered as-is and requiring a full renovation, this property is ideal for investors, contractors, or ambitious buyers looking to build equity and unlock its full potential. R-T zoning allows for use as a Single Family Home, Two Family home, or 3 Family (depending on basement details). Perfect opportunity to flip or BRRRR! STATE TAX CREDITS AVAILABLE. Original hardwood floors, stained glass, and gorgeous ivy provide a glimpse of the character that could be restored, while the finished basement offers additional living space for a family room, office, or even bedroom. Located walking distance to everything Lark Street has to offer, Washington park, Center Square, the Armory, coffee shops, restaurants and more. Whether you're looking for your next fix-and-flip project, airBNB, long-term rental investment, or a chance to create something truly special in one of Albany's most vibrant and walkable neighborhoods, this property presents an exciting opportunity. Bring your vision, tools, and creativity. Properties with this location, character, and upside potential don't come along often. Restore, renovate, and reap the rewards in Albany's sought-after Lark Street neighborhoods.

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

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 ≥97°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: $27,806
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$2,224
• − Management: −$2,224
• − Depreciation: −$1,455
• Taxable income: $18,101
• Est. tax owed @ 24.0%: −$4,344
• After-tax cash flow: $13,476/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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

-44.4% since first listed

18 events — show timeline

• 2026-06-17 Listed $50,000 HVCRMLS
• 2026-06-17 Listed $50,000 Global MLS
• 2022-01-07 Sold (Public Records) $200,000 Public Records
• 2016-02-23 Sold (Public Records) $103,571 Public Records
• 2016-01-26 Sold (MLS) $98,615 Global MLS
• 2015-09-25 Pending — Global MLS
• 2015-09-10 Listed $115,000 Global MLS
• 2014-02-13 Listing Removed — Global MLS
• 2013-08-12 Listed $50,000 Global MLS
• 2009-11-24 Sold (Public Records) $390,000 Public Records
• 2009-08-26 Sold (MLS) $170,000 Global MLS
• 2009-08-19 Listing Removed — Global MLS
• 2009-08-17 Sold (Public Records) $48,000 Public Records
• 2009-06-15 Listed $170,000 Global MLS
• 2009-05-15 Sold (MLS) $47,500 Global MLS
• 2009-03-12 Listing Removed — Global MLS
• 2009-02-25 Listed $40,000 Global MLS
• 1998-11-19 Sold (Public Records) $90,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $4,726 · -30.1% YoY. Source: county tax records.