347 Hulett St · Schenectady, NY 12307

$290,000

6 bd · 2.0 ba · 2,360 sqft · MultiFamily public records · 360 Days on market

Built 1900 8,712 sqft lot $123/sqft · 22% below area Est $389k · 25% 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 +22.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.2/10.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +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 MLS

This up-to-date property is a fantastic investment opportunity in a vibrant and convenient location. With easy access to shopping, bus lines and other amenities, this property is perfect for rental income or owner occupancy. Don't miss out - schedule a showing today and discover the potential of this charming home.

Key facts

• Bus lines
• Vibrant location
• Rental income

Tags

• INVESTMENT OPPORTUNITY
• VIBRANT LOCATION
• EASY ACCESS TO SHOPPING
• BUS LINES
• RENTAL INCOME
• OWNER OCCUPANCY

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 6.3% 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: schools C-, 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.
• Market conditions: 33 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $290k implies a 779% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $255,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.05% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• GRM: 8.0

CMA / ARV

• ARV (median comp): $388,775
• List price: $290,000
• Delta: -25.41%
• 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
1 Chestnut St	0.29mi	6/3.0	2,406 (+2%)	2mo	$290,000	$121	78
1013 Delamont Ave	0.17mi	6/2.0	2,576 (+9%)	1mo	$111,500	$43	76
510 Mumford St	0.26mi	6/2.0	2,544 (+8%)	2mo	$15,000	$6	74
5 Hawk St	0.46mi	6/2.0	2,294 (-3%)	1mo	$325,000	$142	73
21 Hawk St	0.50mi	6/2.0	2,294 (-3%)	0mo	$334,750	$146	72
421 Summit Ave	0.24mi	6/2.0	2,600 (+10%)	2mo	$308,000	$118	70
25 Steuben St	0.26mi	6/3.0	2,640 (+12%)	1mo	$265,000	$100	63
222 Duane Ave	0.26mi	6/2.0	2,700 (+14%)	1mo	$329,900	$122	63
634 Hamilton St	0.18mi	5/2.0 (-1)	2,024 (-14%)	0mo	$210,000	$104	63
16 Hawk St	0.47mi	6/2.0	2,584 (+10%)	0mo	$370,000	$143	62
762 Eastern Ave	0.67mi	6/2.0	2,205 (-7%)	3mo	$269,900	$122	55
316 Georgetta Dix Plz	0.28mi	6/4.0	2,664 (+13%)	4mo	$262,500	$99	54

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 3.32×
• Total profit: $188,769
• Equity at exit: $261,255

10-year hold

• IRR: 25.6%
• Equity multiple: 7.55×
• Total profit: $531,625
• Equity at exit: $563,406

Cash invested: $81,200 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $3,035 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$272 /mo · $3,262/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$637
• Net cashflow: $484

Break-even live

Break-even rent $2,422

Max offer price $290,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,034
Total (2 units)			$3,035

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $290,000 Active 360 DOM
2. 2026-06-17
   days on market $290,000 Active 359 DOM
3. 2026-06-16
   days on market $290,000 Active 358 DOM
4. 2026-06-15
   days on market $290,000 Active 357 DOM
5. 2026-06-14
   days on market $290,000 Active 355 DOM
6. 2026-06-13
   days on market $290,000 Active 354 DOM
7. 2026-06-10
   days on market $290,000 Active 352 DOM
8. 2026-06-09
   days on market $290,000 Active 351 DOM
9. 2026-06-08
   days on market $290,000 Active 350 DOM
10. 2026-06-07
    days on market $290,000 Active 349 DOM
11. 2026-06-03
    days on market $290,000 Active 345 DOM
12. 2026-06-02
    days on market $290,000 Active 344 DOM
13. 2026-06-01
    days on market $290,000 Active 343 DOM
14. 2026-05-31
    days on market $290,000 Active 342 DOM
15. 2026-05-31
    days on market $290,000 Active 341 DOM
16. 2026-05-13
    price $290,000 316-char remark

    Show marketing remark (316 chars)

    This up-to-date property is a fantastic investment opportunity in a vibrant and convenient location. With easy access to shopping, bus lines and other amenities, this property is perfect for rental income or owner occupancy. Don't miss out - schedule a showing today and discover the potential of this charming home.

17. 2026-03-15
    price $320,000 316-char remark

    Show marketing remark (316 chars)

    This up-to-date property is a fantastic investment opportunity in a vibrant and convenient location. With easy access to shopping, bus lines and other amenities, this property is perfect for rental income or owner occupancy. Don't miss out - schedule a showing today and discover the potential of this charming home.

18. 2025-06-23
    listed $330,000 Active 316-char remark

    Show marketing remark (316 chars)

    This up-to-date property is a fantastic investment opportunity in a vibrant and convenient location. With easy access to shopping, bus lines and other amenities, this property is perfect for rental income or owner occupancy. Don't miss out - schedule a showing today and discover the potential of this charming home.

19. 2025-03-09
    historical
20. 2025-03-06
    price $285,000
21. 2025-01-08
    listed $299,900 Active
22. 2008-02-13
    soldstatus $33,000
23. 2005-02-22
    soldstatus $19,900
24. 2005-02-07
    historical
25. 2005-01-25
    listed $19,900
26. 2000-02-10
    soldstatus $20,000

ⓘ 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: $3,262 · $272/mo
• Projected year-2 tax: $4,082 · $340/mo
• Expected delta: +$819/yr (+$68/mo · 25.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $36,420
• − Mortgage interest: −$16,245
• − Property taxes: −$3,262
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,914
• − Management: −$2,914
• − Depreciation: −$8,436
• Taxable income: $1,200
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $5,522/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
• City population: 141,369
• Population (ZIP): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

+1350.0% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $290,000 Global MLS
• 2026-03-15 Price Changed $320,000 Global MLS
• 2025-06-23 Listed $330,000 Global MLS
• 2025-03-09 Listing Removed — Global MLS
• 2025-03-06 Price Changed $285,000 Global MLS
• 2025-01-08 Listed $299,900 Global MLS
• 2008-02-13 Sold (Public Records) $33,000 Public Records
• 2005-02-22 Sold (MLS) $19,900 Global MLS
• 2005-02-07 Listing Removed — Global MLS
• 2005-01-25 Listed $19,900 Global MLS
• 2000-02-10 Sold (Public Records) $20,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,262 · +5.7% YoY. Source: county tax records.