3209 7th Ave · Troy, NY 12180

$150,000

6 bd · 3.0 ba · 3,504 sqft · MultiFamily public records · 84 Days on market

Built 1888 4,356 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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 MLS

This is a great opportunity for the experienced rehabber or developer.Building has a new roof! Shell Condition

Key facts

• Next to park
• Two parcels
• Next to garden

Tags

• TWO PARCELS
• NEXT TO GARDEN
• NEXT TO PARK

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive. Per door: $298/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: schools C-, employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• This rent runs 33% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 4.9% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $40k; list at $150k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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 1888 — 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. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $322,368
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 6th Ave	0.47mi	6/3.0	3,596 (+3%)	2mo	$329,900	$92	72
148 5th Ave	0.53mi	6/3.0	3,336 (-5%)	5mo	$310,000	$93	63
732 River St	0.22mi	7/4.0 (+1)	3,177 (-9%)	15mo	$307,000	$97	52
456-458 8th St	0.45mi	7/4.0 (+1)	3,252 (-7%)	16mo	$230,000	$71	45
224 5th Ave	0.73mi	7/3.5 (+1)	3,192 (-9%)	8mo	$242,000	$76	38
130 5th Ave	0.48mi	7/4.0 (+1)	3,194 (-9%)	20mo	$241,000	$75	37

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.42×
• Total profit: $17,687
• Equity at exit: $22,365

10-year hold

• IRR: 21.0%
• Equity multiple: 2.94×
• Total profit: $81,418
• Equity at exit: $12,969

Cash invested: $42,000 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,067 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $596

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$2,066
Total (2 units)			$2,067

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2025-09-22
   status Pending
2. 2025-08-18
   status Active
3. 2025-07-16
   status Pending
4. 2025-05-28
   listed $150,000 Active
5. 2019-06-20
   soldstatus $40,000 Closed (Final Sale) 110-char remark

   Show marketing remark (110 chars)

   This is a great opportunity for the experienced rehabber or developer.Building has a new roof! Shell Condition

6. 2019-03-06
   status Pend (Under Cntr) 110-char remark

   Show marketing remark (110 chars)

   This is a great opportunity for the experienced rehabber or developer.Building has a new roof! Shell Condition

7. 2019-01-23
   status Back On Market 110-char remark

   Show marketing remark (110 chars)

   This is a great opportunity for the experienced rehabber or developer.Building has a new roof! Shell Condition

8. 2018-07-27
   status Pend (Under Cntr) 110-char remark

   Show marketing remark (110 chars)

   This is a great opportunity for the experienced rehabber or developer.Building has a new roof! Shell Condition

9. 2018-04-29
   listed $40,000 New 110-char remark

   Show marketing remark (110 chars)

   This is a great opportunity for the experienced rehabber or developer.Building has a new roof! Shell Condition

10. 2010-06-23
    soldstatus $25,000 304-char remark

    Show marketing remark (304 chars)

    Large Six Unit Brick Apartment Building - Needs Full Rehab. Gut work has been completed. Could be a great monthly cash flow generator after rehab is completed. Property sold as is. Must close by March 31, 2010. See Virtual Tour Below. Broker has interest in property. Fair Condition, Unfinished Condition

11. 2010-03-05
    historical 304-char remark

    Show marketing remark (304 chars)

    Large Six Unit Brick Apartment Building - Needs Full Rehab. Gut work has been completed. Could be a great monthly cash flow generator after rehab is completed. Property sold as is. Must close by March 31, 2010. See Virtual Tour Below. Broker has interest in property. Fair Condition, Unfinished Condition

12. 2010-03-02
    listed $30,000 304-char remark

    Show marketing remark (304 chars)

    Large Six Unit Brick Apartment Building - Needs Full Rehab. Gut work has been completed. Could be a great monthly cash flow generator after rehab is completed. Property sold as is. Must close by March 31, 2010. See Virtual Tour Below. Broker has interest in property. Fair Condition, Unfinished Condition

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,804
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − Depreciation: −$4,364
• Taxable income: $5,069
• Est. tax owed @ 24.0%: −$1,217
• After-tax cash flow: $5,939/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 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
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

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 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

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: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+400.0% since first listed

12 events — show timeline

• 2025-09-22 Pending — Global MLS
• 2025-08-18 Relisted — Global MLS
• 2025-07-16 Pending — Global MLS
• 2025-05-28 Listed $150,000 Global MLS
• 2019-06-20 Sold (MLS) $40,000 Global MLS
• 2019-03-06 Pending — Global MLS
• 2019-01-23 Relisted — Global MLS
• 2018-07-27 Pending — Global MLS
• 2018-04-29 Listed $40,000 Global MLS
• 2010-06-23 Sold (MLS) $25,000 Global MLS
• 2010-03-05 Listing Removed — Global MLS
• 2010-03-02 Listed $30,000 Global MLS