471 7th Ave · Troy, NY 12182

$145,000

3 bd · 2.0 ba · 2,016 sqft · SingleFamily public records · 59 Days on market

Built 1930 3,484 sqft lot $72/sqft · 44% below area Est $261k · 44% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 bedroom, 2 bath home offering 2,016 sq ft on a corner lot in the Lansingburgh School District. Situated on a .08 acre parcel, this property needs work but offers great potential for investors or owner occupants looking to add value. Conveniently located near schools, shopping, and major roadways. A great opportunity to restore and customize to your liking! - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the m

Key facts

• 3,484 sq ft lot
• Parking
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.5% 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: schools C-, 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.
• Market conditions: 75 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.46% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.78%
• DSCR: 1.61
• GRM: 5.7

CMA / ARV

• ARV (median comp): $260,861
• List price: $145,000
• Delta: -44.41%
• 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
65 109th St	0.27mi	3/2.5	2,108 (+5%)	2mo	$350,000	$166	76
562 3rd Ave	0.33mi	3/2.0	1,920 (-5%)	5mo	$295,000	$154	72
592 5th Ave	0.34mi	4/2.0 (+1)	2,044 (+1%)	5mo	$253,000	$124	72
426 8th Ave	0.16mi	3/2.0	1,872 (-7%)	12mo	$240,000	$128	71
463 8th Ave	0.07mi	3/2.0	1,873 (-7%)	19mo	$195,000	$104	69
562 2nd Ave	0.38mi	4/1.5 (+1)	2,200 (+9%)	5mo	$110,000	$50	56
397 7th Ave	0.23mi	4/2.0 (+1)	1,890 (-6%)	23mo	$255,000	$135	55
226 6th Ave	0.69mi	3/1.5	1,878 (-7%)	3mo	$214,000	$114	52
714 3rd Ave	0.69mi	3/2.0	1,829 (-9%)	8mo	$85,000	$46	45
594 3rd Ave	0.40mi	2/1.5 (-1)	1,852 (-8%)	20mo	$145,000	$78	44
302 6th Ave	0.48mi	3/1.5	1,725 (-14%)	16mo	$255,000	$148	38
660 5th Ave	0.52mi	2/1.0 (-1)	1,750 (-13%)	12mo	$250,000	$143	34

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $6,355
• Equity at exit: $21,620

10-year hold

• IRR: 13.6%
• Equity multiple: 2.09×
• Total profit: $44,411
• Equity at exit: $12,537

Cash invested: $40,600 (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: 75
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$760
• Tax from tax record: −$386 /mo · $4,631/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $466

Break-even live

Break-even rent $1,527

Max offer price $145,000

Occupancy floor 73%

Sensitivity live

Price	-10% $548	-5% $507	+0% $466	+5% $425	+10% $384
Rent	-10% $299	-5% $383	+0% $466	+5% $550	+10% $634
Rate	-1.0pp $539	-0.5pp $503	base $466	+0.5pp $429	+1.0pp $390

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	22d	1	0.58mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	15d	13	0.75mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,711	$1.44	15d	1	0.77mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	15d	1	0.79mi
131 6th Ave Troy, NY	4.0	1.0	1400	$2,325	$1.66	15d	1	0.96mi
11 Parker Ln Unit 5 Waterford, NY	2.0	2.5	1500	$2,800	$1.87	15d	1	1.17mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	15d	4	1.30mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	20d	1	1.41mi

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 59 DOM
2. 2026-06-17
   days on market $145,000 Active 58 DOM
3. 2026-06-16
   days on market $145,000 Active 57 DOM
4. 2026-06-15
   days on market $145,000 Active 56 DOM
5. 2026-06-14
   days on market $145,000 Active 54 DOM
6. 2026-06-10
   days on market $145,000 Active 51 DOM
7. 2026-06-09
   days on market $145,000 Active 50 DOM
8. 2026-06-08
   days on market $145,000 Active 49 DOM
9. 2026-06-07
   days on market $145,000 Active 48 DOM
10. 2026-06-05
    days on market $145,000 Active 45 DOM
11. 2026-06-03
    days on market $145,000 Active 44 DOM
12. 2026-06-02
    days on market $145,000 Active 43 DOM
13. 2026-06-01
    days on market $145,000 Active 42 DOM
14. 2026-05-31
    days on market $145,000 Active 41 DOM
15. 2026-05-31
    days on market $145,000 Active 40 DOM
16. 2026-04-17
    listed $150,000 Active 502-char remark

    Show marketing remark (502 chars)

    Spacious 3 bedroom, 2 bath home offering 2,016 sq ft on a corner lot in the Lansingburgh School District. Situated on a .08 acre parcel, this property needs work but offers great potential for investors or owner occupants looking to add value. Conveniently located near schools, shopping, and major roadways. A great opportunity to restore and customize to your liking! - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the m

ⓘ 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: $4,631 · $386/mo
• Projected year-2 tax: $4,631 · $386/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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $25,412
• − Mortgage interest: −$8,122
• − Property taxes: −$4,631
• − Insurance: −$725
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$4,218
• Taxable income: $3,650
• Est. tax owed @ 24.0%: −$876
• After-tax cash flow: $4,719/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

1 event — show timeline

• 2026-04-17 Listed $150,000 Global MLS

Property tax history

+12.6%/yr

Latest (2025): $4,631 · +2.2% YoY. Source: county tax records.