13 Odell St · Schenectady, NY 12304

$23,500

2 bd · 2.0 ba · 1,818 sqft · MultiFamily public records · 159 Days on market

Built 1800 3,049 sqft lot ↓ 2% 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
• 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

CITY OWNED PROPERTY CODE ESTIMATE $59,500 2 Family 1BR 1Ba in each unit. Close to bus line, local shops and thruway. This property is n need of a renovation and could be a great opportunity for an investor or owner occupant.

Key facts

• 3,049 sq ft lot
• 2 parking spots
• Built 1800

What this means for you Summary

Snapshot

• This is a 2 × 1.0-bed/1.0-bath units multifamily listed at $24k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $24k).
• Recommended offer: $21k (12.0% below list) — sets the bar for market timing.
• Cap rate 108.7% 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: 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: 106 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $162 of loan paydown is wiped out by about $705 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $500; list at $24k implies a 4600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% 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 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 11.68% ✓
• Cap rate: 108.73%
• Cash-on-cash: 365.86%
• DSCR: 17.28
• GRM: 0.7

CMA / ARV

• ARV (on-the-fly): $252,702
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1180 Van Cortland St	0.72mi	3/2.0 (+1)	1,820 (+0%)	10mo	$222,000	$122	52
136 Elmer Ave	0.66mi	3/2.0 (+1)	1,646 (-10%)	11mo	$228,000	$139	39

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: —
• Equity multiple: 19.85×
• Total profit: $124,006
• Equity at exit: $3,504

10-year hold

• IRR: —
• Equity multiple: 42.44×
• Total profit: $272,678
• Equity at exit: $2,032

Cash invested: $6,580 (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 12304

• Home prices YoY: -25.5%
• Active inventory: 106
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $2,745 high
• Mortgage (P&I): −$123
• Tax est. 1.5%: −$29 /mo · $352/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $2,006

Break-even live

Break-even rent $206

Max offer price $23,500

Occupancy floor 22%

Sensitivity live

Price	-10% $2,022	-5% $2,014	+0% $2,006	+5% $1,998	+10% $1,990
Rent	-10% $1,789	-5% $1,898	+0% $2,006	+5% $2,115	+10% $2,223
Rate	-1.0pp $2,018	-0.5pp $2,012	base $2,006	+0.5pp $2,000	+1.0pp $1,994

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

Units	Beds	Baths	Est. rent
▸ 2× units	1.0	1	$2,744
Total (2 units)			$2,745

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$867	$0.84	14d	9	1.48mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	24d	1	1.50mi

Listing history 15 events

1. 2023-03-29
   status Pending
2. 2023-03-17
   status Pending
3. 2022-12-11
   status Active
4. 2022-11-17
   status Pending
5. 2022-11-03
   status Active
6. 2022-09-23
   status Pending
7. 2022-08-04
   listed $23,500 Active
8. 2022-07-29
   historical
9. 2021-12-14
   status Pending
10. 2021-11-03
    status Pend (Under Cntr)
11. 2021-05-31
    listed $23,500 New
12. 2019-06-12
    historical
13. 2018-06-19
    listed $24,000 New
14. 2018-02-28
    soldstatus $500
15. 2017-09-01
    soldstatus $500

ⓘ 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 ≥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: $32,940
• − Mortgage interest: −$1,316
• − Property taxes: −$352
• − Insurance: −$118
• − Repairs & maintenance: −$2,635
• − Management: −$2,635
• − Depreciation: −$684
• Taxable income: $25,200
• Est. tax owed @ 24.0%: −$6,048
• After-tax cash flow: $18,026/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): 22,027

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 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% 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: ▼ -113.18%
• Current HPI: 331.0288
• 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

-2.1% since first listed

15 events — show timeline

• 2023-03-29 Pending — Global MLS
• 2023-03-17 Pending — Global MLS
• 2022-12-11 Relisted — Global MLS
• 2022-11-17 Pending — Global MLS
• 2022-11-03 Relisted — Global MLS
• 2022-09-23 Pending — Global MLS
• 2022-08-04 Listed $23,500 Global MLS
• 2022-07-29 Listing Removed — Global MLS
• 2021-12-14 Pending — Global MLS
• 2021-11-03 Pending — Global MLS
• 2021-05-31 Listed $23,500 Global MLS
• 2019-06-12 Listing Removed — Global MLS
• 2018-06-19 Listed $24,000 Global MLS
• 2018-02-28 Sold (Public Records) $500 Public Records
• 2017-09-01 Sold (Public Records) $500 Public Records

Property tax history

-6.0%/yr

Latest (2025): $2,071 · +68.9% YoY. Source: county tax records.