942 Emmett St · Schenectady, NY 12307

$65,000

6 bd · 2.0 ba · 2,172 sqft · MultiFamily public records · 102 Days on market

Built 1920 3,920 sqft lot ↓ 3% since listing

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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 +15.0/30.0
• Appreciation +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Schenectady City Owned opportunity! This 2-story multi-unit property in Schenectady offers strong potential for an investor or experienced renovator. Exterior features include classic architectural lines, front porches, and off-street potential with room for improvement. Interior spaces need full rehab—kitchen, bath, flooring, walls, and mechanical systems all require replacement or modernization. Ideal for those looking to restore and add value in a revitalizing neighborhood. Sold strictly as-is. Buyer responsible for all renovations and code compliance and reserves.

Key facts

• Front porches
• Full rehab
• Multi-unit property

Tags

• MULTI-UNIT PROPERTY
• FRONT PORCHES
• OFF-STREET POTENTIAL
• FULL REHAB
• REVITALIZING NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 39.6% 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: Dr Martin Luther King School Jr Elementary School (math 5% / reading 24%, grade F, #2,024 of 2,108 statewide, top 97%, 389 students, 79% FRL); 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 49% at this address vs 36% district-wide (+13 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: 33 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 4.58% ✓
• Cap rate: 39.59%
• Cash-on-cash: 118.93%
• DSCR: 6.29
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $262,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Hawk St	0.25mi	6/2.0	2,294 (+6%)	1mo	$325,000	$142	78
21 Hawk St	0.30mi	6/2.0	2,294 (+6%)	0mo	$334,750	$146	76
44 Elm St	0.49mi	6/2.0	2,198 (+1%)	4mo	$290,000	$132	72
1321 State St	0.54mi	6/2.0	2,196 (+1%)	2mo	$240,000	$109	71
106 Elm St	0.54mi	6/2.0	2,172 (0%)	6mo	$296,500	$137	69
309 Division St	0.59mi	6/2.0	2,232 (+3%)	4mo	$275,000	$123	64
82 Robinson St	0.66mi	6/2.0	2,222 (+2%)	3mo	$170,000	$77	63
147 Linden St	0.62mi	6/2.0	2,308 (+6%)	5mo	$262,500	$114	57
16 Paulding St	0.71mi	6/2.0	2,078 (-4%)	5mo	$205,000	$99	56
1 Chestnut St	0.48mi	6/3.0	2,406 (+11%)	2mo	$290,000	$121	54
634 Hamilton St	0.68mi	5/2.0 (-1)	2,024 (-7%)	0mo	$210,000	$104	52
434 Division St	0.71mi	5/2.0 (-1)	2,400 (+10%)	7mo	$170,000	$71	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.26×
• Total profit: $150,393
• Equity at exit: $58,557

10-year hold

• IRR: —
• Equity multiple: 20.38×
• Total profit: $352,741
• Equity at exit: $126,281

Cash invested: $18,200 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,974 high
• Mortgage (P&I): −$341
• Tax from tax record: −$178 /mo · $2,132/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $1,804

Break-even live

Break-even rent $691

Max offer price $65,000

Occupancy floor 34%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,974
Total (2 units)			$2,974

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-02-28
   status Pending
2. 2025-11-18
   listed $65,000 Active
3. 2022-04-05
   historical
4. 2022-02-24
   status Pending
5. 2022-02-23
   listed $67,000 Active

ⓘ 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: $2,132 · $178/mo
• Projected year-2 tax: $2,132 · $178/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 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: $35,688
• − Mortgage interest: −$3,641
• − Property taxes: −$2,132
• − Insurance: −$325
• − Repairs & maintenance: −$2,855
• − Management: −$2,855
• − Depreciation: −$1,891
• Taxable income: $21,989
• Est. tax owed @ 24.0%: −$5,277
• After-tax cash flow: $16,369/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): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

-3.0% since first listed

5 events — show timeline

• 2026-02-28 Pending — Global MLS
• 2025-11-18 Listed $65,000 Global MLS
• 2022-04-05 Listing Removed — Global MLS
• 2022-02-24 Pending — Global MLS
• 2022-02-23 Listed $67,000 Global MLS

Property tax history

-3.0%/yr

Latest (2025): $2,132 · -31.1% YoY. Source: county tax records.