1114 Forest Rd · Schenectady, NY 12303

$179,900

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 1 Days on market

Built 1920 4,356 sqft lot Est $206k · 13% 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 +16.6/30.0
• ARV discount +13.2/15.0
• DSCR +5.1/10.0
• 1% rule +3.9/10.0
• 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

Listing remarks

Well maintained bungalow in a convenient location. 3 bedroom, 1 bath. Beautiful woodwork and built ins. Open back deck and enclosed front porch. Huge unfinished attic that can easily be converted into additional living space. Close to schools and downtown. Make this adorable home yours today!

Key facts

• Woodwork
• Built ins
• Bungalow

Tags

• BUNGALOW
• WOODWORK
• BUILT INS
• OPEN BACK DECK
• ENCLOSED FRONT PORCH
• HUGE UNFINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (11.3% below list).
• Recommended offer: $160k (11.3% below list) — sets the bar for 1% rule.

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: Pleasant Valley Elementary School (math 5% / reading 34%, grade F, #1,972 of 2,108 statewide, top 94%, 357 students, 79% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Market conditions: 164 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $159,534 (11.3% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $206,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1114 Forest Rd	0.00mi	3/1.0	1,152 (0%)	0mo	$218,000	$189	100
822 Sargent Pl	0.46mi	3/1.5	1,115 (-3%)	6mo	$125,000	$112	66
1133 Cutler St	0.61mi	4/1.0 (+1)	1,142 (-1%)	3mo	$190,000	$166	63
1337 8th Ave	0.52mi	4/2.0 (+1)	1,193 (+4%)	1mo	$132,500	$111	60
1020 Pearl St	0.28mi	2/1.5 (-1)	1,295 (+12%)	0mo	$152,500	$118	59
962 Florence Ave	0.61mi	2/2.0 (-1)	1,150 (-0%)	4mo	$280,000	$243	59
1084 Webster St	0.47mi	3/2.0	1,282 (+11%)	2mo	$230,000	$179	54
818 Cutler St	0.73mi	3/1.5	1,224 (+6%)	0mo	$165,000	$135	53
1517 Rutgers St	0.45mi	3/1.0	980 (-15%)	2mo	$178,000	$182	53
1221 Houlton Ave	0.68mi	3/1.0	1,232 (+7%)	5mo	$245,000	$199	53
269 Altamont Ave	0.61mi	3/1.0	1,260 (+9%)	5mo	$110,000	$87	52
1420 Nelson St	0.72mi	3/1.0	1,057 (-8%)	4mo	$230,000	$218	49

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-22,289
• Equity at exit: $26,824

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-10,662
• Equity at exit: $15,554

Cash invested: $50,372 (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 12303

• Active inventory: 164
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$943
• Tax from tax record: −$134 /mo · $1,604/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $108

Break-even live

Break-even rent $1,458

Max offer price $179,900

Occupancy floor 88%

Sensitivity live

Price	-10% $210	-5% $159	+0% $108	+5% $57	+10% $6
Rent	-10% $-18	-5% $45	+0% $108	+5% $171	+10% $234
Rate	-1.0pp $199	-0.5pp $154	base $108	+0.5pp $62	+1.0pp $14

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	16d	1	0.39mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	45d	1	0.39mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	25d	1	0.45mi
1121 10th Ave Schenectady, NY	2.0	1.0	800	$1,250	$1.56	25d	1	0.46mi
922 State St Schenectady, NY	1.0–2.0	1.0	855	$1,390	$1.63	16d	6	0.66mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,500	$1.63	21d	1	0.78mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	21d	1	1.07mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	25d	1	1.08mi
120 De Graff St Schenectady, NY	4.0	1.0	1022	$1,600	$1.57	45d	1	1.08mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	16d	1	1.12mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	16d	1	1.15mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	25d	1	1.16mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$1,515	$1.47	16d	9	1.17mi
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	21d	1	1.20mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	16d	1	1.26mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	16d	1	1.28mi
1729 Ferguson St Schenectady, NY	2.0	1.0	850	$1,730	$2.04	16d	1	1.31mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	45d	1	1.33mi
830 Plymouth Ave Schenectady, NY	2.0	1.0	1200	$1,700	$1.42	21d	1	1.40mi

Listing history 2 events

1. 2026-03-20
   status Pending
2. 2026-03-19
   listed $179,900 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: $1,604 · $134/mo
• Projected year-2 tax: $2,322 · $194/mo
• Expected delta: +$718/yr (+$60/mo · 44.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $19,144
• − Mortgage interest: −$10,077
• − Property taxes: −$1,604
• − Insurance: −$900
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$5,233
• Taxable loss: −$1,734
• Est. tax savings @ 24.0%: +$416
• After-tax cash flow: $1,715/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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -151.01%
• Current HPI: 280.3886
• Rent YoY: —
• 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

2 events — show timeline

• 2026-03-20 Pending — Global MLS
• 2026-03-19 Listed $179,900 Global MLS

Property tax history

+2.5%/yr

Latest (2025): $1,604 · +7.9% YoY. Source: county tax records.