1931 Jerome Ave · Schenectady, NY 12306

$169,000

3 bd · 1.5 ba · 1,221 sqft · SingleFamily · 8 Days on market

Built 1925 3,920 sqft lot Est $233k · 28% 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• 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 MLS

Look at this gorgeously amazing Bungalow with lots of updates! Everything is done! Just move right in and enjoy! Expanded kitchen! Large living room! Two generously sized bedrooms on first floor! Large Master Suite with updated full bath on 2nd floor! New Front porch, front door and back deck, with hot tub! Must see! Priced to sell now! Excellent Condition

Key facts

• Private driveway
• Full basement
• Back deck

Tags

• FULL BASEMENT
• PRIVATE DRIVEWAY
• LARGE COVERED FRONT PORCH
• BACK DECK
• FENCED-IN BACKYARD

Property features AI

Exterior

• Parking: Driveway with space for 3 vehicles
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area approximately 1,221
• Construction: Vinyl siding; Shingle (asphalt) roof
• Exterior features: Deck; Enclosed porch; Front porch; Porch; Paved driveway; Wood backyard fencing; Other exterior features

Interior

• Kitchen: Convection oven; Range; Refrigerator
• Bedrooms: Primary bedroom on the first floor
• Flooring: Tile; Wood; Bamboo; Concrete; Hardwood
• Bathrooms: One full bathroom on the first floor; One half bathroom on the first floor
• Heating & cooling: Hot water heating (natural gas); Central air conditioning
• Interior features: Full unfinished basement; 5 total rooms
• Laundry & utility: Washer and dryer in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 8.4% 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: 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 82% at this address vs 36% district-wide (+46 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: 181 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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 $65k; list at $169k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,000

Questions for the listing agent

1. Built in 1925 — 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: 1.09% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.39%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $233,211
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 Cutler St	0.45mi	3/1.5	1,224 (+0%)	0mo	$165,000	$135	79
1201 Helderberg Ave Ave	0.22mi	3/2.0	1,271 (+4%)	2mo	$252,000	$198	79
417 Cora St	0.45mi	3/1.0	1,248 (+2%)	0mo	$185,000	$148	73
1337 8th Ave	0.53mi	4/2.0 (+1)	1,193 (-2%)	1mo	$132,500	$111	64
577 Ontario St	0.35mi	3/1.0	1,100 (-10%)	2mo	$255,000	$232	64
1084 Webster St	0.57mi	3/2.0	1,282 (+5%)	2mo	$230,000	$179	61
1100 Laura St	0.52mi	3/1.5	1,100 (-10%)	0mo	$295,000	$268	59
837 Harrison Ave	0.41mi	3/2.0	1,377 (+13%)	0mo	$240,000	$174	58
1067 Cutler St	0.43mi	2/1.5 (-1)	1,352 (+11%)	2mo	$100,000	$74	56
473 Bruno St	0.72mi	3/1.0	1,144 (-6%)	2mo	$246,500	$215	52
338 Eleanor St	0.61mi	3/1.5	1,366 (+12%)	1mo	$261,000	$191	51
2110 Nahant St	0.75mi	4/2.0 (+1)	1,400 (+15%)	0mo	$332,400	$237	33

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,809
• Equity at exit: $25,198

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $16,327
• Equity at exit: $14,612

Cash invested: $47,320 (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 12306

• Home prices YoY: -23.8%
• Active inventory: 181
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,847 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $291

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 79%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	18d	1	0.27mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	13d	1	0.45mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	13d	1	0.47mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	13d	1	0.52mi
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	14d	1	0.67mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	43d	1	0.67mi
611 Cramer Ave Schenectady, NY	3.0	1.0	1100	$2,295	$2.09	13d	1	0.67mi
1121 10th Ave Schenectady, NY	2.0	1.0	800	$1,250	$1.56	23d	1	0.82mi
1729 Ferguson St Schenectady, NY	2.0	1.0	850	$1,730	$2.04	14d	1	1.02mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	23d	1	1.35mi

Listing history 12 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   listed $169,000 Active
3. 2015-08-07
   soldstatus $65,000 358-char remark

   Show marketing remark (358 chars)

   Look at this gorgeously amazing Bungalow with lots of updates! Everything is done! Just move right in and enjoy! Expanded kitchen! Large living room! Two generously sized bedrooms on first floor! Large Master Suite with updated full bath on 2nd floor! New Front porch, front door and back deck, with hot tub! Must see! Priced to sell now! Excellent Condition

4. 2015-05-24
   historical 358-char remark

   Show marketing remark (358 chars)

   Look at this gorgeously amazing Bungalow with lots of updates! Everything is done! Just move right in and enjoy! Expanded kitchen! Large living room! Two generously sized bedrooms on first floor! Large Master Suite with updated full bath on 2nd floor! New Front porch, front door and back deck, with hot tub! Must see! Priced to sell now! Excellent Condition

5. 2015-01-13
   listed $69,900 358-char remark

   Show marketing remark (358 chars)

   Look at this gorgeously amazing Bungalow with lots of updates! Everything is done! Just move right in and enjoy! Expanded kitchen! Large living room! Two generously sized bedrooms on first floor! Large Master Suite with updated full bath on 2nd floor! New Front porch, front door and back deck, with hot tub! Must see! Priced to sell now! Excellent Condition

6. 2014-11-19
   historical
7. 2014-10-28
   listed $99,900
8. 2009-10-01
   soldstatus $95,000
9. 2009-08-17
   historical
10. 2009-05-24
    listed $107,500
11. 2001-08-13
    soldstatus $58,500
12. 2000-11-28
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $22,164
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − Depreciation: −$4,916
• Taxable income: $855
• Est. tax owed @ 24.0%: −$205
• After-tax cash flow: $3,290/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): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 629.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -91.35%
• Current HPI: 292.1229
• 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

+182.1% since first listed

12 events — show timeline

• 2026-05-01 Pending — Global MLS
• 2026-04-23 Listed $169,000 Global MLS
• 2015-08-07 Sold (MLS) $65,000 Global MLS
• 2015-05-24 Listing Removed — Global MLS
• 2015-01-13 Listed $69,900 Global MLS
• 2014-11-19 Listing Removed — Global MLS
• 2014-10-28 Listed $99,900 Global MLS
• 2009-10-01 Sold (MLS) $95,000 Global MLS
• 2009-08-17 Listing Removed — Global MLS
• 2009-05-24 Listed $107,500 Global MLS
• 2001-08-13 Sold (MLS) $58,500 Global MLS
• 2000-11-28 Listed $59,900 Global MLS