123 Lomasney Ave · Schenectady, NY 12308

$279,900

4 bd · 2.0 ba · 1,820 sqft · MultiFamily public records · 39 Days on market

Built 1920 4,791 sqft lot $154/sqft · 18% below area Est $342k · 18% under ↓ 8% 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).

• Cash flow +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Excellent Opportunity to own Nice 2 Family in the thriving City of Schenectady. Great for Owner Occupied or Investment. 2 Bedrooms over 2 Bedrooms. Completely Vacant so you can move right in. Located on a Dead End Street, next to Beautiful Vale Park, in a desirable neighborhood. Freshly Painted. Stunning Hardwood Floors. Many more Updates throughout. Big Backyard space to relax and entertain. 2 Car Garage for Parking and Storage. Close to Shopping, Restaurants, Schools, Parks, Bus Line and more. Check it out today before it's gone!

Key facts

• Big backyard
• Dead end street
• 2 car garage

Tags

• DEAD END STREET
• BIG BACKYARD
• 2 CAR GARAGE

Property features AI

Exterior

• Parking: Detached garage with storage; Two off-street paved parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex; Two-story
• Construction: Aluminum siding; Slate roof
• Exterior features: Front porch; Garden

Interior

• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood
• Bathrooms: Two full bathrooms total (one full bath on the 1st level, one full bath on the 2nd level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Hardwood floors; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive. Per door: $94/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.

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: 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 82% at this address vs 36% district-wide (+46 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: 79 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $2,840/mo this rent would consume 54% of the median local household income ($63k/yr) (locally 1016% 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 $8k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $271,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.01% ✓
• Cap rate: 7.10%
• Cash-on-cash: 2.88%
• DSCR: 1.13
• GRM: 8.2

CMA / ARV

• ARV (median comp): $342,026
• List price: $279,900
• Delta: -18.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Swan St	0.33mi	4/2.0	1,768 (-3%)	6mo	$240,000	$136	75
1039 Wendell Ave	0.30mi	4/2.0	1,984 (+9%)	4mo	$220,000	$111	68
11 Mynderse St	0.44mi	4/2.0	1,686 (-7%)	1mo	$140,000	$83	66
1156-1158 Hilderbrandt Ave	0.36mi	4/2.0	1,768 (-3%)	17mo	$20,000	$11	65
136 Elmer Ave	0.13mi	3/2.0 (-1)	1,646 (-10%)	11mo	$228,000	$139	64
35 Swan St	0.34mi	4/2.0	1,548 (-15%)	5mo	$2,570	$2	55
212 Hulett St	0.57mi	4/2.0	1,892 (+4%)	19mo	$90,000	$48	51
34 Columbia St	0.09mi	5/3.0 (+1)	1,600 (-12%)	20mo	$250,000	$156	50
84 N Brandywine Ave	0.47mi	4/2.0	2,000 (+10%)	14mo	$165,000	$83	50
112 Porter St	0.40mi	4/2.0	1,556 (-14%)	12mo	$255,000	$164	47
348 Duane Ave	0.71mi	5/2.0 (+1)	1,728 (-5%)	15mo	$190,000	$110	41
1016 Stanley St	0.69mi	4/2.0	2,048 (+12%)	20mo	$233,200	$114	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-33,270
• Equity at exit: $41,734

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-13,082
• Equity at exit: $24,201

Cash invested: $78,372 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 79
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $2,840 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$471 /mo · $5,655/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $188

Break-even live

Break-even rent $2,602

Max offer price $279,900

Occupancy floor 88%

Sensitivity live

Price	-10% $346	-5% $267	+0% $188	+5% $109	+10% $29
Rent	-10% $-36	-5% $76	+0% $188	+5% $300	+10% $412
Rate	-1.0pp $329	-0.5pp $259	base $188	+0.5pp $115	+1.0pp $42

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,840
Total (2 units)			$2,840

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	44d	1	0.42mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	24d	1	0.79mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	44d	1	0.86mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	44d	1	1.01mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	44d	1	1.01mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	15d	1	1.02mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	15d	9	1.26mi

Listing history 17 events

1. 2026-06-21
   days on market $279,900 Active 39 DOM
2. 2026-06-18
   days on market $279,900 Active 36 DOM
3. 2026-06-17
   days on market $279,900 Active 35 DOM
4. 2026-06-16
   days on market $279,900 Active 34 DOM
5. 2026-06-15
   pricedays on market $279,900 Active 33 DOM
6. 2026-06-14
   days on market $284,900 Active 31 DOM
7. 2026-06-13
   days on market $284,900 Active 30 DOM
8. 2026-06-10
   days on market $284,900 Active 28 DOM
9. 2026-06-09
   days on market $284,900 Active 27 DOM
10. 2026-06-08
    days on market $284,900 Active 26 DOM
11. 2026-06-07
    days on market $284,900 Active 25 DOM
12. 2026-06-03
    days on market $284,900 Active 21 DOM
13. 2026-06-02
    days on market $284,900 Active 20 DOM
14. 2026-06-01
    days on market $284,900 Active 19 DOM
15. 2026-05-31
    days on market $284,900 Active 18 DOM
16. 2026-05-31
    pricedays on market $284,900 Active 17 DOM
17. 2026-05-13
    listed $304,900 Active 548-char remark

ⓘ 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: $5,655 · $471/mo
• Projected year-2 tax: $5,655 · $471/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $34,080
• − Mortgage interest: −$15,679
• − Property taxes: −$5,655
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,726
• − Management: −$2,726
• − Depreciation: −$8,143
• Taxable loss: −$2,248
• Est. tax savings @ 24.0%: +$540
• After-tax cash flow: $2,795/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: 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

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 · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 1%

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: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

-8.2% since first listed

3 events — show timeline

• 2026-06-15 Price Changed $279,900 Global MLS
• 2026-05-30 Price Changed $284,900 Global MLS
• 2026-05-13 Listed $304,900 Global MLS

Property tax history

+0.6%/yr

Latest (2025): $5,655 · +3.5% YoY. Source: county tax records.