1905 Hamburg St · Rotterdam, NY 12304

$299,000

3 bd · 2.0 ba · 1,615 sqft · MultiFamily public records · 89 Days on market

Built 1920 7,405 sqft lot $185/sqft · 22% below area Est $383k · 22% under

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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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.6/10.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• 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 MLS

Brick two-family home offering great owner-occupant or investment potential. Each unit features remodeled interiors with hardwood floors throughout. The 1st floor unit includes an additional space that can be used as a den, office, or potential 2nd bedroom. Both units have access to a full unfinished basement, providing ample storage. Included is a large driveway accommodating up to 6 vehicles. a 2-car garage, and a shared backyard space for outdoor enjoyment. Conveniently located in the Mohonasen School District and close to shopping, restaurants, and other local amenities. A well-maintained property with a functional layout and off-street parking.

Key facts

• Large driveway
• Remodeled interiors
• 2 car garage

Tags

• REMODELED INTERIORS
• HARDWOOD FLOORS
• FULL UNFINISHED BASEMENT
• LARGE DRIVEWAY
• 2 CAR GARAGE
• SHARED BACKYARD SPACE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive. Per door: $80/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (3.8% below list).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.0% in Rotterdam — 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 (#161 in NY, #2,455 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment B+; Watch: schools D+, crime F.
• Rotterdam-Mohonasen Central School District (suburban): math 48% / reading 56% proficiency, ranked #333 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 106 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 6 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 $250k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1920 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
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: 0.96% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 8.7

CMA / ARV

• ARV (median comp): $383,386
• List price: $299,000
• Delta: -22.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1762 Hamburg St	0.24mi	3/2.0	1,514 (-6%)	18mo	$173,000	$114	63
117 Henry St	0.42mi	4/2.0 (+1)	1,600 (-1%)	18mo	$190,000	$119	59
1355 Chrisler Ave	0.66mi	3/2.0	1,661 (+3%)	14mo	$254,900	$153	52
1414 Chrisler Ave	0.64mi	4/2.0 (+1)	1,820 (+13%)	1mo	$240,000	$132	44
1041 Strong St	0.73mi	4/2.0 (+1)	1,400 (-13%)	4mo	$160,000	$114	35
103 Frank St	0.53mi	3/2.0	1,396 (-14%)	23mo	$150,000	$107	34
1339 Santa Fe St	0.68mi	2/2.0 (-1)	1,462 (-10%)	19mo	$152,000	$104	32

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: -12.6%
• Equity multiple: 0.54×
• Total profit: $-38,207
• Equity at exit: $44,582

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-19,883
• Equity at exit: $25,852

Cash invested: $83,720 (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: 17.3×

Monthly cashflow live

• Estimated rent: $2,875 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$419 /mo · $5,028/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $160

Break-even live

Break-even rent $2,673

Max offer price $299,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,874
Total (2 units)			$2,875

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	43d	1	1.07mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	23d	1	1.16mi
103 Kings Rd Unit 106 Schenectady, NY	2.0	2.0	1100	$1,450	$1.32	14d	1	1.19mi
830 Plymouth Ave Schenectady, NY	2.0	1.0	1200	$1,700	$1.42	19d	1	1.43mi
2810 Consaul Rd Schenectady, NY	2.0	2.0	1450	$2,700	$1.86	14d	1	1.44mi
2971 Hamburg St Schenectady, NY	3.0	2.0	1949	$650	$0.33	23d	1	1.48mi

Listing history 21 events

1. 2026-05-31
   days on market $299,000 Active 89 DOM
2. 2026-05-31
   days on market $299,000 Active 88 DOM
3. 2026-03-03
   listed $299,000 Active 657-char remark

   Show marketing remark (657 chars)

   Brick two-family home offering great owner-occupant or investment potential. Each unit features remodeled interiors with hardwood floors throughout. The 1st floor unit includes an additional space that can be used as a den, office, or potential 2nd bedroom. Both units have access to a full unfinished basement, providing ample storage. Included is a large driveway accommodating up to 6 vehicles. a 2-car garage, and a shared backyard space for outdoor enjoyment. Conveniently located in the Mohonasen School District and close to shopping, restaurants, and other local amenities. A well-maintained property with a functional layout and off-street parking.

4. 2022-08-26
   soldstatus $250,000
5. 2022-07-13
   status Pending 477-char remark

   Show marketing remark (477 chars)

   Brick 2 Family in Great shape with 2 Car Garage. Property is fully rented with Excellent tenants. 1st Floor has updated Bath, Gourmet Kitchen with Shaker Cabinets, Tin ceilings, Built ins, Hardwood Floors, Decorative Non working Fireplace. Den/Office on 1st Floor could possibly be used as an extra Bedroom. Long Term tenant on 2nd Floor. Separate Utilities, Newer Furnace, Newer Roof on Garage, Plenty of Off Street Parking and in a Convenient Location with Mohanasen Schools.

6. 2022-05-17
   price $239,000 477-char remark

   Show marketing remark (477 chars)

   Brick 2 Family in Great shape with 2 Car Garage. Property is fully rented with Excellent tenants. 1st Floor has updated Bath, Gourmet Kitchen with Shaker Cabinets, Tin ceilings, Built ins, Hardwood Floors, Decorative Non working Fireplace. Den/Office on 1st Floor could possibly be used as an extra Bedroom. Long Term tenant on 2nd Floor. Separate Utilities, Newer Furnace, Newer Roof on Garage, Plenty of Off Street Parking and in a Convenient Location with Mohanasen Schools.

7. 2022-05-12
   listed $249,000 Active 477-char remark

   Show marketing remark (477 chars)

   Brick 2 Family in Great shape with 2 Car Garage. Property is fully rented with Excellent tenants. 1st Floor has updated Bath, Gourmet Kitchen with Shaker Cabinets, Tin ceilings, Built ins, Hardwood Floors, Decorative Non working Fireplace. Den/Office on 1st Floor could possibly be used as an extra Bedroom. Long Term tenant on 2nd Floor. Separate Utilities, Newer Furnace, Newer Roof on Garage, Plenty of Off Street Parking and in a Convenient Location with Mohanasen Schools.

8. 2022-05-12
   listed $239,000

   Show marketing remark (477 chars)

   Brick 2 Family in Great shape with 2 Car Garage. Property is fully rented with Excellent tenants. 1st Floor has updated Bath, Gourmet Kitchen with Shaker Cabinets, Tin ceilings, Built ins, Hardwood Floors, Decorative Non working Fireplace. Den/Office on 1st Floor could possibly be used as an extra Bedroom. Long Term tenant on 2nd Floor. Separate Utilities, Newer Furnace, Newer Roof on Garage, Plenty of Off Street Parking and in a Convenient Location with Mohanasen Schools.

9. 2018-01-25
   soldstatus $137,500
10. 2017-12-27
    soldstatus $137,500 Closed (Final Sale)
11. 2017-10-31
    status Pend (Under Cntr)
12. 2017-10-28
    price $139,900
13. 2017-10-12
    listed $145,000 New
14. 2014-05-05
    soldstatus $132,500
15. 2014-05-01
    soldstatus $132,500
16. 2014-03-24
    historical
17. 2014-03-17
    listed $139,900
18. 2009-02-06
    soldstatus $125,000
19. 2008-12-23
    soldstatus $125,000
20. 2008-11-11
    historical
21. 2008-07-25
    listed $134,900

ⓘ 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: $5,028 · $419/mo
• Projected year-2 tax: $5,040 · $420/mo
• Expected delta: +$13/yr (+$1/mo · 0.3%)

ⓘ 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 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: $34,500
• − Mortgage interest: −$16,749
• − Property taxes: −$5,028
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,760
• − Management: −$2,760
• − Depreciation: −$8,698
• Taxable loss: −$2,989
• Est. tax savings @ 24.0%: +$717
• After-tax cash flow: $2,634/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: Rotterdam-Mohonasen Central School District
• NCES district ID: 3600004
• Math proficiency: 48% ▼ -4.00%
• Reading proficiency: 56% ▲ 9.00%
• Median HH income: $59,640
• Composite: 45.34/100
• National rank: #2638
• State rank: #333 of 590 in NY

Livability — Rotterdam

• Score: 78/100
• State rank: #161
• US rank: #2455

Category grades

Amenities C Commute B Cost of living B Crime F Employment B+ Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rotterdam, NY
• 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

+121.6% since first listed

19 events — show timeline

• 2026-03-03 Listed $299,000 Global MLS
• 2022-08-26 Sold (MLS) $250,000 HVCRMLS
• 2022-07-13 Pending — Global MLS
• 2022-05-17 Price Changed $239,000 Global MLS
• 2022-05-12 Listed $239,000 HVCRMLS
• 2022-05-12 Listed $249,000 Global MLS
• 2018-01-25 Sold (Public Records) $137,500 Public Records
• 2017-12-27 Sold (MLS) $137,500 Global MLS
• 2017-10-31 Pending — Global MLS
• 2017-10-28 Price Changed $139,900 Global MLS
• 2017-10-12 Listed $145,000 Global MLS
• 2014-05-05 Sold (MLS) $132,500 Global MLS
• 2014-05-01 Sold (Public Records) $132,500 Public Records
• 2014-03-24 Listing Removed — Global MLS
• 2014-03-17 Listed $139,900 Global MLS
• 2009-02-06 Sold (Public Records) $125,000 Public Records
• 2008-12-23 Sold (MLS) $125,000 Global MLS
• 2008-11-11 Listing Removed — Global MLS
• 2008-07-25 Listed $134,900 Global MLS

Property tax history

-2.7%/yr

Latest (2025): $5,028 · +2.0% YoY. Source: county tax records.