331 7th Ave · Troy, NY 12182

$270,000

6 bd · 2.0 ba · 2,300 sqft · MultiFamily public records · 37 Days on market

Built 1931 5,227 sqft lot Est $223k · 21% over

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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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Move right in as owner occupied! Superior condition. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attick. Yard backs up to alley, fenced with shed. On quiet boulevard near school and Knickerbocker Park. Just a gem! (Water expense figure is combined water and sewer expense total for both floors). Superior Condition

Key facts

• Fully renovated
• Turnkey property
• Modern kitchens

Tags

• FULLY RENOVATED
• TURNKEY PROPERTY
• IMMEDIATE INCOME POTENTIAL
• NEW FURNACES
• NEW HOT WATER TANKS
• MODERN KITCHENS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive. Per door: $352/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: 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.
• Zoned schools: Turnpike Elementary School (534 students, 61% FRL); Knickerbacker Middle School (math 15% / reading 35%, grade F, #601 of 729 statewide, top 82%, 471 students, 75% FRL); Lansingburgh Senior High School (math 92%, 638 students, 75% FRL) — zoned schools average 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

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.
• 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 + 3.0% rent growth), your $76k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $136k; list at $270k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $261,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1931 — 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: 1.21% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $223,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
288 5th Ave	0.15mi	6/2.0	2,216 (-4%)	4mo	$140,000	$63	84
416 7th Ave	0.25mi	6/2.0	2,112 (-8%)	2mo	$205,000	$97	73
172 6th Ave	0.42mi	6/2.0	2,454 (+7%)	1mo	$220,000	$90	68
137 2nd Ave	0.55mi	6/2.0	2,396 (+4%)	3mo	$220,000	$92	65
145 6th Ave	0.50mi	6/2.0	2,154 (-6%)	2mo	$210,000	$97	64
500 3rd Ave	0.53mi	7/2.0 (+1)	2,240 (-3%)	4mo	$250,000	$112	63
48 5th Ave	0.73mi	6/2.0	2,238 (-3%)	2mo	$236,500	$106	60
106 Continental Ave	0.72mi	6/2.0	2,388 (+4%)	1mo	$250,000	$105	59
70 6th Ave	0.68mi	6/2.5	2,104 (-8%)	0mo	$179,900	$86	52
79 6th Ave	0.66mi	6/2.0	2,048 (-11%)	2mo	$80,000	$39	49
57 5th Ave	0.72mi	7/2.0 (+1)	2,418 (+5%)	4mo	$240,000	$99	49
83 2nd Ave	0.67mi	6/3.0	2,608 (+13%)	2mo	$375,000	$144	40

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,139
• Equity at exit: $40,258

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $58,968
• Equity at exit: $23,345

Cash invested: $75,600 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 76
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,278 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$357 /mo · $4,288/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $704

Break-even live

Break-even rent $2,387

Max offer price $270,000

Occupancy floor 74%

Sensitivity live

Price	-10% $857	-5% $780	+0% $704	+5% $627	+10% $551
Rent	-10% $445	-5% $574	+0% $704	+5% $833	+10% $963
Rate	-1.0pp $840	-0.5pp $773	base $704	+0.5pp $634	+1.0pp $563

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,278
Total (2 units)			$3,278

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-02
   status Pending
2. 2026-02-23
   listed $270,000 Active
3. 2024-04-17
   historical $1,500
4. 2024-03-15
   listed $1,500
5. 2013-08-05
   soldstatus $136,000
6. 2013-07-22
   soldstatus $142,500 377-char remark

   Show marketing remark (377 chars)

   Move right in as owner occupied! Superior condition. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attick. Yard backs up to alley, fenced with shed. On quiet boulevard near school and Knickerbocker Park. Just a gem! (Water expense figure is combined water and sewer expense total for both floors). Superior Condition

7. 2013-05-10
   historical 377-char remark

   Show marketing remark (377 chars)

   Move right in as owner occupied! Superior condition. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attick. Yard backs up to alley, fenced with shed. On quiet boulevard near school and Knickerbocker Park. Just a gem! (Water expense figure is combined water and sewer expense total for both floors). Superior Condition

8. 2013-01-30
   listed $149,900 377-char remark

   Show marketing remark (377 chars)

   Move right in as owner occupied! Superior condition. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attick. Yard backs up to alley, fenced with shed. On quiet boulevard near school and Knickerbocker Park. Just a gem! (Water expense figure is combined water and sewer expense total for both floors). Superior Condition

9. 2008-04-16
   soldstatus $140,000
10. 2008-04-14
    soldstatus $140,000 275-char remark

    Show marketing remark (275 chars)

    Don't miss this one! Move right in as owner occupied! Superior condition, both units. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attic. Just a Gem!!!Yard backs up to alley,fenced yard w/shed -- Superior Condition

11. 2008-02-26
    historical 275-char remark

    Show marketing remark (275 chars)

    Don't miss this one! Move right in as owner occupied! Superior condition, both units. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attic. Just a Gem!!!Yard backs up to alley,fenced yard w/shed -- Superior Condition

12. 2008-02-21
    listed $139,900 275-char remark

    Show marketing remark (275 chars)

    Don't miss this one! Move right in as owner occupied! Superior condition, both units. Separate utilities, new kitchens and updated baths. All natural woodwork, front and rear porches, walk-up attic. Just a Gem!!!Yard backs up to alley,fenced yard w/shed -- Superior Condition

13. 2005-06-27
    soldstatus $111,000

ⓘ 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: $4,288 · $357/mo
• Projected year-2 tax: $4,426 · $369/mo
• Expected delta: +$137/yr (+$11/mo · 3.2%)

ⓘ 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 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: $39,336
• − Mortgage interest: −$15,124
• − Property taxes: −$4,288
• − Insurance: −$1,350
• − Repairs & maintenance: −$3,147
• − Management: −$3,147
• − Depreciation: −$7,855
• Taxable income: $4,425
• Est. tax owed @ 24.0%: −$1,062
• After-tax cash flow: $7,384/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
• City population: 53,479
• Population (ZIP): 14,273

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 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

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: ▼ -50.58%
• Current HPI: 273.5758
• Rent YoY: —
• Metro: —
• 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

+143.2% since first listed

13 events — show timeline

• 2026-04-02 Pending — Global MLS
• 2026-02-23 Listed $270,000 Global MLS
• 2024-04-17 Rental Removed $1,500 RENTEC
• 2024-03-15 Listed for Rent $1,500 RENTEC
• 2013-08-05 Sold (Public Records) $136,000 Public Records
• 2013-07-22 Sold (MLS) $142,500 Global MLS
• 2013-05-10 Listing Removed — Global MLS
• 2013-01-30 Listed $149,900 Global MLS
• 2008-04-16 Sold (Public Records) $140,000 Public Records
• 2008-04-14 Sold (MLS) $140,000 Global MLS
• 2008-02-26 Listing Removed — Global MLS
• 2008-02-21 Listed $139,900 Global MLS
• 2005-06-27 Sold (Public Records) $111,000 Public Records

Property tax history

+16.9%/yr

Latest (2025): $4,288 · +15.8% YoY. Source: county tax records.