45 Greenway N · Albany, NY 12208

$179,000

3 bd · 1.5 ba · 1,392 sqft · SingleFamily public records · 8 Days on market

Built 1936 6,006 sqft lot Est $320k · 44% 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 +18.2/30.0
• ARV discount +15.0/15.0
• 1% rule +7.4/10.0
• DSCR +5.7/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime LOCATION & much POTENTIAL! City living in highly desired Buckingham Park neighborhood. Charming 1930s home, 3 bedroom/1+ bath home with so much potential & character. Features a stained glass window & handsome staircase as you enter the front door. The living room features a triple set of windows, fireplace with a built in cabinet, & a french door which leads to the office/art room. The dining room is off the living room, then the kitchen (which is gutted), & an enclosed back porch. The upstairs consists of 3 bedrooms, & a bathroom. One of the bedrooms has stairs to the attic, a sweet space to finish for the kiddos. From the kitchen, stairs lead to the

Key facts

• Enclosed back porch
• Stained glass window
• Handsome staircase

Tags

• BUCKINGHAM PARK NEIGHBORHOOD
• STAINED GLASS WINDOW
• HANDSOME STAIRCASE
• TRIPLE SET OF WINDOWS
• FRENCH DOOR
• ENCLOSED BACK PORCH

Property features AI

Exterior

• Parking: 2-car garage; Driveway; On-street parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Natural gas available; Sewer connected; Water connected
• Home design: Single family house; Two levels; Entry from front porch
• Construction: Built with clapboard and frame construction; Plaster interior surfaces; Asphalt roof; Block foundation; Full walk-out block basement with exterior entry
• Exterior features: Enclosed front porch; Porch; Storm door(s); Fenced backyard (partial wood fencing); Front yard; Back yard; Rectangular lot; Sloped down lot; Paved road frontage; Publicly maintained road; City lot; City street frontage

Interior

• Kitchen: Bar fridge; Refrigerator
• Flooring: Tile; Wood; See remarks
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; No central cooling
• Interior features: High-speed internet; Living room fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Dryer; Washer/Dryer (included); Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Cap rate 7.4% vs local median 5.7% in Albany — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.0%/yr); 100 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 38% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,000

Questions for the listing agent

1. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.24% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.86%
• DSCR: 1.17
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $320,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Caldwell St	0.28mi	4/2.0 (+1)	1,357 (-2%)	2mo	$260,000	$192	74
49 Oakwood St	0.58mi	3/1.5	1,391 (-0%)	1mo	$332,000	$239	72
66 Oakwood St	0.64mi	3/1.0	1,440 (+3%)	1mo	$305,000	$212	62
16 Oakwood St	0.57mi	3/2.0	1,470 (+6%)	1mo	$350,000	$238	61
27 Westford St	0.48mi	2/1.0 (-1)	1,300 (-7%)	0mo	$331,000	$255	59
178 Ormond St	0.53mi	4/2.5 (+1)	1,503 (+8%)	1mo	$446,000	$297	52
59 Van Schoick Ave	0.66mi	3/2.5	1,500 (+8%)	2mo	$345,000	$230	50
87 Ormond St	0.56mi	3/2.0	1,562 (+12%)	2mo	$349,900	$224	50
880 Mercer St	0.57mi	3/2.0	1,571 (+13%)	1mo	$316,000	$201	49
21 Hopewell St	0.50mi	4/1.0 (+1)	1,220 (-12%)	0mo	$280,000	$230	49
16 John David Ln	0.55mi	3/2.0	1,600 (+15%)	1mo	$360,000	$225	47
123 Daytona Ave	0.67mi	3/2.5	1,595 (+15%)	2mo	$404,000	$253	39

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-13,797
• Equity at exit: $26,689

10-year hold

• IRR: 5.4%
• Equity multiple: 1.44×
• Total profit: $22,262
• Equity at exit: $15,477

Cash invested: $50,120 (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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 100
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,222 high
• Mortgage (P&I): −$939
• Tax from tax record: −$581 /mo · $6,969/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $161

Break-even live

Break-even rent $2,018

Max offer price $179,000

Occupancy floor 88%

Sensitivity live

Price	-10% $263	-5% $212	+0% $161	+5% $111	+10% $60
Rent	-10% $-14	-5% $74	+0% $161	+5% $249	+10% $337
Rate	-1.0pp $252	-0.5pp $207	base $161	+0.5pp $115	+1.0pp $68

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
53 Greenway N Albany, NY	3.0	2.0	1500	$2,600	$1.73	24d	1	0.02mi
563 New Scotland Ave Albany, NY	2.0	1.0–2.0	931	$3,125	$3.36	15d	37	0.31mi
6A Weis Rd Albany, NY	2.0	1.0	900	$1,610	$1.79	15d	1	0.41mi
9 Circle Ln Albany, NY	2.0	1.0	771	$1,805	$2.34	15d	1	0.44mi
2 Friebel Rd Albany, NY	3.0	2.0	1392	$2,200	$1.58	15d	1	0.56mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	15d	1	0.63mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	45d	1	0.64mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	45d	1	0.66mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	24d	1	0.70mi
35 Parkwood St Albany, NY	2.0	1.0	900	$1,495	$1.66	24d	1	0.73mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	45d	1	0.74mi
830 Western Ave Albany, NY	4.0	2.5	1600	$2,700	$1.69	15d	1	0.76mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	15d	1	0.92mi
1 Colatosti Pl Albany, NY	2.0	1.0	1000	$1,595	$1.59	15d	1	0.97mi
898 Lancaster St Unit 2 Albany, NY	2.0	1.0	1200	$1,700	$1.42	24d	1	0.99mi
42 Harris Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,600	$1.60	15d	1	1.03mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	15d	1	1.04mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	45d	1	1.05mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	22d	1	1.10mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	22d	1	1.10mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	24d	1	1.17mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	45d	1	1.17mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	45d	1	1.18mi
23 The Concourse Unit 21 Albany, NY	2.0	1.0	1200	$2,000	$1.67	15d	1	1.20mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	24d	1	1.23mi
517 Hamilton St Albany, NY	4.0	1.0	1020	$2,000	$1.96	24d	1	1.23mi
32 Moreland Ave Unit NA Albany, NY	3.0	1.5	1500	$2,300	$1.53	22d	1	1.24mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	24d	1	1.24mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	15d	1	1.30mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	24d	1	1.37mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	24d	1	1.37mi
62 Homestead St Albany, NY	4.0	2.0	1600	$2,600	$1.62	45d	1	1.38mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	15d	1	1.41mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	15d	1	1.42mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	45d	1	1.45mi
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	15d	1	1.46mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	24d	1	1.46mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	45d	1	1.47mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	45d	1	1.48mi

Listing history 7 events

1. 2026-06-17
   status $179,000 Pending 8 DOM
2. 2026-06-16
   days on market $179,000 Active 8 DOM
3. 2026-06-15
   days on market $179,000 Active 7 DOM
4. 2026-06-14
   days on market $179,000 Active 5 DOM
5. 2026-06-10
   days on market $179,000 Active 2 DOM
6. 2026-06-09
   remarks 675-char remark
7. 2026-06-09
   listed $179,000 Active 1 DOM

ⓘ 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: $6,969 · $581/mo
• Projected year-2 tax: $6,969 · $581/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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $26,664
• − Mortgage interest: −$10,027
• − Property taxes: −$6,969
• − Insurance: −$895
• − Repairs & maintenance: −$2,133
• − Management: −$2,133
• − Depreciation: −$5,207
• Taxable loss: −$700
• Est. tax savings @ 24.0%: +$168
• After-tax cash flow: $2,105/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: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 23,289
• Household income: $70,413
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1952.0

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 (66%)
• Race & ethnicity: White 66% Black 12% Asian 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Italian 3% Scotch-Irish 3%
• Foreign-born: 16% · Canada, China, Philippines
• Languages at home: 83% English-only · Other Indo-European 4% Other Asian/Pacific 3% French/Haitian/Cajun 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: ▼ -120.46%
• Current HPI: 279.716
• Rent YoY: ▲ 5.05%
• 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

1 event — show timeline

• 2026-06-08 Listed $179,000 HVCRMLS

Property tax history

+9.1%/yr

Latest (2025): $6,969 · +1.3% YoY. Source: county tax records.