546 Summit Ave · Schenectady, NY 12307

$139,000

6 bd · 2.0 ba · 2,216 sqft · Townhouse public records · 96 Days on market

Built 2026 Good condition 3,484 sqft lot $63/sqft · 54% below area Est $165k · 16% under

---

Why this score? — see what drove the A 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 +29.4/30.0
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0

Listing remarks

This newly constructed townhome, offered through the Affordable Homeownership Opportunity Program (AHOP), provides a modern and affordable path to homeownership for moderate-income first-time buyers. Designed with contemporary finishes and quality craftsmanship, the home offers both comfort and style at a budget-conscious price making it an ideal choice for those seeking long-term stability and equity in a growing community. Let us help you get into your dream home! This home is currently under construction and slated to be finished by the end of the Month (April). Pictures are what the home will look like.

Key facts

• 2 parking spots
• Built 2026
• Listed 95 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $139k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.6% 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: Van Corlaer Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 436 students, 78% 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: 41 active listings in the ZIP; lower-income renter base — watch delinquency; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $1,841/mo this rent would consume 67% of the median local household income ($33k/yr) (locally 26% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.

Recommended offer $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.32% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.22%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $165,000
• List price: $139,000
• Delta: -15.76%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1065 Willett St	0.50mi	6/2.0	2,260 (+2%)	0mo	$305,000	$135	74
634 Hamilton St	0.24mi	5/2.0 (-1)	2,024 (-9%)	2mo	$210,000	$104	68
1047 Gillespie St	1.08mi	6/2.0	2,254 (+2%)	1mo	$327,000	$145	61
534 N Brandywine Ave	1.39mi	6/2.0	2,332 (+5%)	0mo	$400,000	$172	56
126 Elmer Ave	1.18mi	6/2.0	2,355 (+6%)	0mo	$330,000	$140	54
938 Park Ave	1.06mi	6/3.0	2,380 (+7%)	1mo	$355,000	$149	48
828 Harrison Ave	1.48mi	6/2.0	2,486 (+12%)	0mo	$247,200	$99	45
885 Emmett St	0.68mi	5/2.0 (-1)	1,963 (-11%)	2mo	$184,900	$94	43
261 Altamont Ave	1.10mi	5/2.0 (-1)	1,988 (-10%)	2mo	$275,000	$138	42
16 Hawk St	0.83mi	6/2.0	2,584 (+17%)	2mo	$370,000	$143	38
2328 Turner Ave	1.44mi	5/2.0 (-1)	1,744 (-21%)	1mo	$233,000	$134	34
609 Mcclellan St	1.42mi	5/6.0 (-1)	2,542 (+15%)	0mo	$350,000	$138	20

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: 35.5%
• Equity multiple: 3.75×
• Total profit: $107,170
• Equity at exit: $125,222

10-year hold

• IRR: 30.6%
• Equity multiple: 8.48×
• Total profit: $290,929
• Equity at exit: $270,046

Cash invested: $38,920 (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: 41
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,841 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $494

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 68%

Sensitivity live

Price	-10% $590	-5% $542	+0% $494	+5% $446	+10% $398
Rent	-10% $348	-5% $421	+0% $494	+5% $566	+10% $639
Rate	-1.0pp $564	-0.5pp $529	base $494	+0.5pp $458	+1.0pp $421

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: $34,750
• Closing costs: $4,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Approximately 0.08-acre lot

Exterior

• Parking: Two off-street paved driveway parking spaces
• Security: Carbon monoxide detectorsFire alarm
• Utilities: Public waterPublic sewerCable available
• Home design: TownhouseNew construction
• Construction: Drywall interiorVinyl siding exteriorShingle roofConcrete perimeter and permanent foundation; slab
• Exterior features: Paved drivewayPaved exterior driveCleared and landscaped lot

Interior

• Kitchen: RangeRange hoodDishwasherENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second floor
• Flooring: CarpetLinoleum
• Bathrooms: One full bathroom (second level)One half bathroom (first level)
• Heating & cooling: Ductless heatingElectric heatingHeat pumpDuctless cooling
• Interior features: High-speed internetRadon mitigation systemInstant hot waterTankless water heaterENERGY STAR qualified appliances and windowsLow-E windows with screens and blindsEgress window
• Laundry & utility: Washer hookupElectric dryer hookupLaundry closet on upper level

Listing history 50 events

1. 2026-08-08
   days on market $139,000 Active 96 DOM
2. 2026-08-07
   days on market $139,000 Active 95 DOM
3. 2026-08-06
   days on market $139,000 Active 94 DOM
4. 2026-08-05
   days on market $139,000 Active 93 DOM
5. 2026-08-04
   days on market $139,000 Active 92 DOM
6. 2026-08-03
   days on market $139,000 Active 91 DOM
7. 2026-07-31
   days on market $139,000 Active 88 DOM
8. 2026-07-30
   days on market $139,000 Active 87 DOM
9. 2026-07-29
   days on market $139,000 Active 86 DOM
10. 2026-07-27
    days on market $139,000 Active 84 DOM
11. 2026-07-25
    days on market $139,000 Active 82 DOM
12. 2026-07-24
    days on market $139,000 Active 81 DOM
13. 2026-07-23
    days on market $139,000 Active 80 DOM
14. 2026-07-22
    days on market $139,000 Active 79 DOM
15. 2026-07-21
    days on market $139,000 Active 78 DOM
16. 2026-07-18
    days on market $139,000 Active 75 DOM
17. 2026-07-16
    days on market $139,000 Active 73 DOM
18. 2026-07-16
    days on market $139,000 Active 72 DOM
19. 2026-07-14
    days on market $139,000 Active 71 DOM
20. 2026-07-13
    days on market $139,000 Active 70 DOM
21. 2026-07-12
    days on market $139,000 Active 69 DOM
22. 2026-07-11
    days on market $139,000 Active 68 DOM
23. 2026-07-10
    days on market $139,000 Active 67 DOM
24. 2026-07-09
    days on market $139,000 Active 66 DOM
25. 2026-07-07
    days on market $139,000 Active 64 DOM
26. 2026-07-06
    days on market $139,000 Active 63 DOM
27. 2026-07-05
    days on market $139,000 Active 62 DOM
28. 2026-07-04
    days on market $139,000 Active 61 DOM
29. 2026-07-03
    days on market $139,000 Active 60 DOM
30. 2026-07-02
    days on market $139,000 Active 59 DOM
31. 2026-07-01
    days on market $139,000 Active 58 DOM
32. 2026-06-30
    days on market $139,000 Active 57 DOM
33. 2026-06-29
    days on market $139,000 Active 56 DOM
34. 2026-06-28
    days on market $139,000 Active 55 DOM
35. 2026-06-28
    days on market $139,000 Active 54 DOM
36. 2026-06-27
    days on market $139,000 Active 53 DOM
37. 2026-06-25
    days on market $139,000 Active 51 DOM
38. 2026-06-23
    days on market $139,000 Active 49 DOM
39. 2026-06-21
    days on market $139,000 Active 48 DOM
40. 2026-06-18
    days on market $139,000 Active 45 DOM
41. 2026-06-17
    days on market $139,000 Active 44 DOM
42. 2026-06-16
    days on market $139,000 Active 43 DOM
43. 2026-06-15
    days on market $139,000 Active 42 DOM
44. 2026-06-14
    days on market $139,000 Active 40 DOM
45. 2026-06-13
    days on market $139,000 Active 39 DOM
46. 2026-06-10
    days on market $139,000 Active 37 DOM
47. 2026-06-09
    days on market $139,000 Active 36 DOM
48. 2026-06-08
    days on market $139,000 Active 35 DOM
49. 2026-06-07
    days on market $139,000 Active 34 DOM
50. 2026-06-03
    days on market $139,000 Active 30 DOM

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

Taxation est. · year 1

• Rental income: $22,089
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$4,044
• Taxable income: $3,945
• Est. tax owed @ 24.0%: −$947
• After-tax cash flow: $4,977/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.

Condition & rehab AI · 2 photos

Good 80/100 None rehab

This newly constructed townhome is in excellent condition with no visible repairs needed. Fresh paint and landscaping improvements can further enhance its value.

Value-add opportunities

• Both Painting the exterior — Fresh paint enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and can attract more buyers ↑
• Both Interior updates — Fresh paint and minor updates can boost both resale and rental value ↑

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Van Corlaer Elementary School F NY #1,846/2,108 Nat'l #30,133/41,679 Middle Mont Pleasant Middle School F NY #704/729 Nat'l #12,693/14,009 High Schenectady High School A NY #446/1,100 Nat'l #889/17,239

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

B Composite livability gradescore 78/100

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 · 155,046 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 7,977
• Household income: $33,191
• Rent vs Own: 72.9% rent · 27.1% own
• Severe rent burden: 26% of renters

---

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

Property features AI

Finance

• Other: Approximately 0.08-acre lot

Exterior

• Parking: Two off-street paved driveway parking spaces
• Security: Carbon monoxide detectorsFire alarm
• Utilities: Public waterPublic sewerCable available
• Home design: TownhouseNew construction
• Construction: Drywall interiorVinyl siding exteriorShingle roofConcrete perimeter and permanent foundation; slab
• Exterior features: Paved drivewayPaved exterior driveCleared and landscaped lot

Interior

• Kitchen: RangeRange hoodDishwasherENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second floor
• Flooring: CarpetLinoleum
• Bathrooms: One full bathroom (second level)One half bathroom (first level)
• Heating & cooling: Ductless heatingElectric heatingHeat pumpDuctless cooling
• Interior features: High-speed internetRadon mitigation systemInstant hot waterTankless water heaterENERGY STAR qualified appliances and windowsLow-E windows with screens and blindsEgress window
• Laundry & utility: Washer hookupElectric dryer hookupLaundry closet on upper level

Price history

+1290.0% since first listed

9 events — show timeline

• 2026-05-04 Listed $139,000 Global MLS
• 2020-10-21 Listing Removed — Global MLS
• 2020-03-05 Listed $10,000 Global MLS
• 2020-03-03 Listing Removed — Global MLS
• 2020-01-30 Listed $10,000 Global MLS
• 2018-03-21 Listing Removed — Global MLS
• 2017-03-27 Listed $10,000 Global MLS
• 2017-03-06 Listing Removed — Global MLS
• 2016-09-29 Listed $10,000 Global MLS

Property tax history

-34.0%/yr

Latest (2021): $226 · +0.0% YoY. Source: county tax records.