1333 Broadway · Watervliet, NY 12189

$205,000

6 bd · 2.0 ba · 2,430 sqft · MultiFamily public records · 125 Days on market

Built 1880 3,049 sqft lot $84/sqft · 48% below area Est $397k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• 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

Opportunity awaits with this two-family property ideal for investors or owner-occupants. Each unit features a living room, eat-in kitchen, full bathroom, laundry closet with hookups, and three spacious bedrooms. The upper unit includes an additional alcove suitable for a nursery, office, workout space, or playroom. The first-floor unit is heated by electric, while the upstairs unit offers natural gas forced heat. Both units were most recently rented for approximately $1,500 per month each. Based on prior rents and the sellers expenses, the property reflects an estimated 12.3% capitalization rate (buyer to verify all income and expenses). AS-IS - Bring your imagination, paint brush and get ready to start collecting your cash flow. Off-street parking is available via the rear alleyway behind the building.

Key facts

• Full bathroom
• Living room
• Laundry closet

Tags

• TWO-FAMILY PROPERTY
• LIVING ROOM
• EAT-IN KITCHEN
• FULL BATHROOM
• LAUNDRY CLOSET
• THREE SPACIOUS BEDROOMS

🏷️ Possibly a rental listed for sale. The $205,000 price doesn't fit this home's estimated sale value (~$397,286) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive. Per door: $469/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 5.9% in Watervliet — 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 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,680/mo this rent would consume 68% of the median local household income ($65k/yr) (locally 1224% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $57k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; list at $205k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D 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?
10. 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.
11. 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.
12. 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: 1.80% ✓
• Cap rate: 14.48%
• Cash-on-cash: 29.25%
• DSCR: 2.30
• GRM: 4.6

CMA / ARV

• ARV (median comp): $397,286
• List price: $205,000
• Delta: -48.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1525 6th Ave	0.39mi	5/2.0 (-1)	2,464 (+1%)	2mo	$240,000	$97	73
1316 5th Ave	0.29mi	5/2.0 (-1)	2,346 (-4%)	5mo	$280,000	$119	71
25 13th St	0.05mi	5/2.0 (-1)	2,106 (-13%)	1mo	$289,900	$138	70
301 2nd St	0.43mi	7/2.0 (+1)	2,500 (+3%)	3mo	$239,900	$96	68
1266 5th Ave	0.60mi	6/2.0	2,540 (+4%)	1mo	$240,000	$94	64
412 2nd St	0.64mi	6/2.0	2,256 (-7%)	2mo	$240,000	$106	57
1834 6th Ave	0.53mi	6/2.0	2,680 (+10%)	3mo	$250,000	$93	56
902 19th St	0.73mi	6/2.5	2,560 (+5%)	2mo	$250,000	$98	54
1801 9th Ave	0.62mi	6/3.0	2,244 (-8%)	2mo	$340,000	$152	53
2344 Broadway	0.71mi	6/2.0	2,582 (+6%)	6mo	$215,000	$83	52
327 4th St	0.51mi	5/2.0 (-1)	2,720 (+12%)	4mo	$215,000	$79	48
96 Hanover St	0.71mi	6/3.0	2,768 (+14%)	4mo	$160,000	$58	36

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 · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.71×
• Total profit: $40,806
• Equity at exit: $30,566

10-year hold

• IRR: 28.3%
• Equity multiple: 4.05×
• Total profit: $175,336
• Equity at exit: $17,725

Cash invested: $57,400 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,680 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$348 /mo · $4,173/yr
• Insurance: −$85
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$773
• Net cashflow: $939

Break-even live

Break-even rent $2,492

Max offer price $205,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,055	-5% $997	+0% $939	+5% $881	+10% $823
Rent	-10% $648	-5% $793	+0% $939	+5% $1,084	+10% $1,229
Rate	-1.0pp $1,042	-0.5pp $991	base $939	+0.5pp $885	+1.0pp $831

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,680
Total (2 units)			$3,680

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 14th St Unit 2 Troy, NY	5.0	2.0	1600	$625	$0.39	19d	1	1.11mi

Listing history 36 events

1. 2026-06-18
   days on market $205,000 Active 125 DOM
2. 2026-06-17
   days on market $205,000 Active 124 DOM
3. 2026-06-16
   days on market $205,000 Active 123 DOM
4. 2026-06-15
   days on market $205,000 Active 122 DOM
5. 2026-06-14
   days on market $205,000 Active 120 DOM
6. 2026-06-10
   days on market $205,000 Active 117 DOM
7. 2026-06-09
   days on market $205,000 Active 116 DOM
8. 2026-06-08
   days on market $205,000 Active 115 DOM
9. 2026-06-07
   days on market $205,000 Active 114 DOM
10. 2026-06-05
    days on market $205,000 Active 111 DOM
11. 2026-06-03
    days on market $205,000 Active 110 DOM
12. 2026-06-02
    days on market $205,000 Active 109 DOM
13. 2026-06-01
    days on market $205,000 Active 108 DOM
14. 2026-05-31
    days on market $205,000 Active 107 DOM
15. 2026-05-31
    pricestatus $205,000 Active 106 DOM
16. 2026-05-15
    status Pending 822-char remark

    Show marketing remark (822 chars)

    Opportunity awaits with this two-family property ideal for investors or owner-occupants. Each unit features a living room, eat-in kitchen, full bathroom, laundry closet with hookups, and three spacious bedrooms. The upper unit includes an additional alcove suitable for a nursery, office, workout space, or playroom. The first-floor unit is heated by electric, while the upstairs unit offers natural gas forced heat. Both units were most recently rented for approximately $1,500 per month each. Based on prior rents and the sellers expenses, the property reflects an estimated 12.3% capitalization rate (buyer to verify all income and expenses). AS-IS - Bring your imagination, paint brush and get ready to start collecting your cash flow. Off-street parking is available via the rear alleyway behind the building.

17. 2026-05-04
    price $220,000 822-char remark

    Show marketing remark (822 chars)

    Opportunity awaits with this two-family property ideal for investors or owner-occupants. Each unit features a living room, eat-in kitchen, full bathroom, laundry closet with hookups, and three spacious bedrooms. The upper unit includes an additional alcove suitable for a nursery, office, workout space, or playroom. The first-floor unit is heated by electric, while the upstairs unit offers natural gas forced heat. Both units were most recently rented for approximately $1,500 per month each. Based on prior rents and the sellers expenses, the property reflects an estimated 12.3% capitalization rate (buyer to verify all income and expenses). AS-IS - Bring your imagination, paint brush and get ready to start collecting your cash flow. Off-street parking is available via the rear alleyway behind the building.

18. 2026-01-29
    listed $229,999 Active 822-char remark

    Show marketing remark (822 chars)

    Opportunity awaits with this two-family property ideal for investors or owner-occupants. Each unit features a living room, eat-in kitchen, full bathroom, laundry closet with hookups, and three spacious bedrooms. The upper unit includes an additional alcove suitable for a nursery, office, workout space, or playroom. The first-floor unit is heated by electric, while the upstairs unit offers natural gas forced heat. Both units were most recently rented for approximately $1,500 per month each. Based on prior rents and the sellers expenses, the property reflects an estimated 12.3% capitalization rate (buyer to verify all income and expenses). AS-IS - Bring your imagination, paint brush and get ready to start collecting your cash flow. Off-street parking is available via the rear alleyway behind the building.

19. 2024-04-12
    historical $1,500
20. 2024-01-17
    listed $1,500
21. 2022-03-07
    status Pending 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

22. 2022-03-07
    status Active 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

23. 2022-03-01
    historical 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

24. 2022-01-11
    price $169,999 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

25. 2021-12-22
    price $179,999 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

26. 2021-12-13
    price $189,999 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

27. 2021-12-02
    price $194,999 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

28. 2021-11-12
    listed $199,999 New 495-char remark

    Show marketing remark (495 chars)

    MULTIPLE OFFERS. H&B BY 8PM 2/27/22! Own a house for only $400 per month!! Fully renovated 2 family ready for investment or owner occupant purchase. Both units have 3 bedrooms, eat in kitchen, living room and dedicated laundry room. New appliances and furnace on 1st floor. 2nd floor has all new windows. Easy to show. Broker is owner. One or both units can be rented prior to closing if desired. In a flood zone. Flood insurance required for all financed offers. Excellent Condition

29. 2021-08-01
    historical
30. 2021-06-03
    listed $199,000 New
31. 2012-04-09
    soldstatus $71,000
32. 2012-04-05
    soldstatus $71,000
33. 2012-02-27
    historical
34. 2011-11-21
    listed $80,000
35. 2011-10-18
    historical
36. 2011-04-17
    listed $89,900

ⓘ 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: $4,173 · $348/mo
• Projected year-2 tax: $4,173 · $348/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,160
• − Mortgage interest: −$11,483
• − Property taxes: −$4,173
• − Insurance: −$6,550
• − Repairs & maintenance: −$3,533
• − Management: −$3,533
• − Depreciation: −$5,964
• Taxable income: $8,925
• Est. tax owed @ 24.0%: −$2,142
• After-tax cash flow: $9,121/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: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, NY
• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 2%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

+144.7% since first listed

21 events — show timeline

• 2026-05-15 Pending — Global MLS
• 2026-05-04 Price Changed $220,000 Global MLS
• 2026-01-29 Listed $229,999 Global MLS
• 2024-04-12 Rental Removed $1,500 GLOBALMLS
• 2024-01-17 Listed for Rent $1,500 GLOBALMLS
• 2022-03-07 Pending — Global MLS
• 2022-03-07 Relisted — Global MLS
• 2022-03-01 Listing Removed — Global MLS
• 2022-01-11 Price Changed $169,999 Global MLS
• 2021-12-22 Price Changed $179,999 Global MLS
• 2021-12-13 Price Changed $189,999 Global MLS
• 2021-12-02 Price Changed $194,999 Global MLS
• 2021-11-12 Listed $199,999 Global MLS
• 2021-08-01 Listing Removed — Global MLS
• 2021-06-03 Listed $199,000 Global MLS
• 2012-04-09 Sold (Public Records) $71,000 Public Records
• 2012-04-05 Sold (MLS) $71,000 Global MLS
• 2012-02-27 Listing Removed — Global MLS
• 2011-11-21 Listed $80,000 Global MLS
• 2011-10-18 Listing Removed — Global MLS
• 2011-04-17 Listed $89,900 Global MLS

Property tax history

+4.3%/yr

Latest (2025): $4,173 · +0.7% YoY. Source: county tax records.