52 Park Ave

Albany, NY 12202

$329,777A

6 bd · 3.0 ba · 3,300 sqft · Built 1866 · MultiFamily · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,384/mo
• Mortgage (P&I): −$1,729
• Tax + insurance: −$646
• HOA: −$0
• Vac / Maint / Mgmt: −$921
• Net cashflow: $1,088/mo
• Annual: $13,055/yr
• Cap rate: 10.25%
• Cash-on-cash: 14.14%
• DSCR: 1.63
• 1% rule: 1.33%
• Cash to close: $92,338

Investor read

• This is a 6-bed/3.0-bath multifamily listed at $330k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• It's been on market 103 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $300k (9.0% below list) — sets the bar for market timing.
• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Location reads 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1866 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.7%/yr); 102 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 23y 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 $188k; list at $330k implies a 75% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $92k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1866 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding shows signs of wear and tear, with some areas appearing to be peeling or damaged.
• Minor: flooring — The flooring appears to be in average condition, with some areas showing signs of wear.
• Minor: interior walls — The interior walls appear to be in average condition, with some areas showing signs of wear.
• Major: HVAC system — The HVAC system appears to be in poor condition, with visible signs of wear and tear.