324 Hudson Ave · Albany, NY 12210

$739,000

42 bd · 49.0 ba · 4,940 sqft · MultiFamily public records · 126 Days on market

Built 1866 2,178 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

8.62 CAP RATE. TOTALLY OCCUPIED 7 UNIT. Rents are 1,300, 1,200, 1,050, 1,050, 1,127, 1,017 & basement is 900. Great tenants, enjoy the ease of collecting rents. Easy to take care off with 6 one-bedroom apartments and one studio (max capacity of tenants is low). Owner might offer some seller financing with a good offer & significant deposit. Solid stone structure/ very well maintained. 7 unit in a highly desirable neighborhood. Features include hardwood floors, coin-operated laundry, high efficiency boiler, some long-term tenants and much more. The rubber roof was freshly sealed last year. Located in Center square, which IS the heartbeat of Albany, just a short stroll to the home of the LarkFEST on Lark St. , the Capitol of NYS, the Empire State Plaza, legislative offices, colleges, shopping centers/grocery stores, restaurants, coffee shops, antique shops, the popular Washington park (with pond & walking trails), fitness arenas and much more. Easy to travel locally or travel out of the area with direct access to public transportation and major highways. The Annual income & expenses, rent roll, ROPs, Sprinkler inspection, etc is under documents or available upon request.

Key facts

• Stone structure
• Freshly sealed roof
• Hardwood floors

Tags

• STONE STRUCTURE
• HARDWOOD FLOORS
• COIN-OPERATED LAUNDRY
• HIGH EFFICIENCY BOILER
• FRESHLY SEALED ROOF
• CENTER SQUARE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 6×6bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $739k.

Deal economics

• At list price, monthly cash flow is $5k ($63k/yr) — positive. Per door: $753/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $739k).
• Recommended offer: $650k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 5.7% in Albany — 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 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.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.9%/yr); 70 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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 + 6.9% rent growth), your $207k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($650k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $550k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1866 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $650,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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 1866 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 14.85%
• Cash-on-cash: 30.58%
• DSCR: 2.36
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.86% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.30×
• Total profit: $269,902
• Equity at exit: $110,187

10-year hold

• IRR: 39.1%
• Equity multiple: 5.38×
• Total profit: $906,629
• Equity at exit: $63,895

Cash invested: $206,920 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 30.9×

Monthly cashflow live

• Estimated rent: $13,283 medium
• Mortgage (P&I): −$3,875
• Tax from tax record: −$1,038 /mo · $12,456/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,789
• Net cashflow: $5,272

Break-even live

Break-even rent $6,609

Max offer price $739,000

Occupancy floor 55%

Sensitivity live

Price	-10% $5,691	-5% $5,481	+0% $5,272	+5% $5,063	+10% $4,854
Rent	-10% $4,223	-5% $4,748	+0% $5,272	+5% $5,797	+10% $6,322
Rate	-1.0pp $5,644	-0.5pp $5,460	base $5,272	+0.5pp $5,081	+1.0pp $4,886

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

Units	Beds	Baths	Est. rent
▸ 6× units	6	1	$11,952
1× unit	1	1	$1,329
Total (7 units)			$13,283

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: $184,750
• Closing costs: $22,170
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-11
   status Pending 1211-char remark

   Show marketing remark (1211 chars)

   8.62 CAP RATE. TOTALLY OCCUPIED 7 UNIT. Rents are 1,300, 1,200, 1,050, 1,050, 1,127, 1,017 & basement is 900. Great tenants, enjoy the ease of collecting rents. Easy to take care off with 6 one-bedroom apartments and one studio (max capacity of tenants is low). Owner might offer some seller financing with a good offer & significant deposit. Solid stone structure/ very well maintained. 7 unit in a highly desirable neighborhood. Features include hardwood floors, coin-operated laundry, high efficiency boiler, some long-term tenants and much more. The rubber roof was freshly sealed last year. Located in Center square, which IS the heartbeat of Albany, just a short stroll to the home of the LarkFEST on Lark St. , the Capitol of NYS, the Empire State Plaza, legislative offices, colleges, shopping centers/grocery stores, restaurants, coffee shops, antique shops, the popular Washington park (with pond & walking trails), fitness arenas and much more. Easy to travel locally or travel out of the area with direct access to public transportation and major highways. The Annual income & expenses, rent roll, ROPs, Sprinkler inspection, etc is under documents or available upon request.

2. 2026-04-22
   status Pending
3. 2026-03-13
   price $739,000 1211-char remark

   Show marketing remark (1211 chars)

   8.62 CAP RATE. TOTALLY OCCUPIED 7 UNIT. Rents are 1,300, 1,200, 1,050, 1,050, 1,127, 1,017 & basement is 900. Great tenants, enjoy the ease of collecting rents. Easy to take care off with 6 one-bedroom apartments and one studio (max capacity of tenants is low). Owner might offer some seller financing with a good offer & significant deposit. Solid stone structure/ very well maintained. 7 unit in a highly desirable neighborhood. Features include hardwood floors, coin-operated laundry, high efficiency boiler, some long-term tenants and much more. The rubber roof was freshly sealed last year. Located in Center square, which IS the heartbeat of Albany, just a short stroll to the home of the LarkFEST on Lark St. , the Capitol of NYS, the Empire State Plaza, legislative offices, colleges, shopping centers/grocery stores, restaurants, coffee shops, antique shops, the popular Washington park (with pond & walking trails), fitness arenas and much more. Easy to travel locally or travel out of the area with direct access to public transportation and major highways. The Annual income & expenses, rent roll, ROPs, Sprinkler inspection, etc is under documents or available upon request.

4. 2026-03-07
   price $739,000
5. 2026-01-20
   status Active
6. 2025-12-28
   listed $759,900 Active 1211-char remark

   Show marketing remark (1211 chars)

   8.62 CAP RATE. TOTALLY OCCUPIED 7 UNIT. Rents are 1,300, 1,200, 1,050, 1,050, 1,127, 1,017 & basement is 900. Great tenants, enjoy the ease of collecting rents. Easy to take care off with 6 one-bedroom apartments and one studio (max capacity of tenants is low). Owner might offer some seller financing with a good offer & significant deposit. Solid stone structure/ very well maintained. 7 unit in a highly desirable neighborhood. Features include hardwood floors, coin-operated laundry, high efficiency boiler, some long-term tenants and much more. The rubber roof was freshly sealed last year. Located in Center square, which IS the heartbeat of Albany, just a short stroll to the home of the LarkFEST on Lark St. , the Capitol of NYS, the Empire State Plaza, legislative offices, colleges, shopping centers/grocery stores, restaurants, coffee shops, antique shops, the popular Washington park (with pond & walking trails), fitness arenas and much more. Easy to travel locally or travel out of the area with direct access to public transportation and major highways. The Annual income & expenses, rent roll, ROPs, Sprinkler inspection, etc is under documents or available upon request.

7. 2025-10-17
   status Active
8. 2025-10-07
   status Pending
9. 2025-10-07
   historical
10. 2025-09-26
    price $759,900
11. 2025-09-03
    listed $799,900 Active
12. 2018-12-27
    soldstatus $550,000
13. 2018-12-20
    soldstatus $550,000 Closed (Final Sale) 532-char remark

    Show marketing remark (532 chars)

    Well maintained 7-unit investment property located on one of Albany's most sought after Center Square neighborhoods. Boasting 100% occupancy, the building is made up of five (5) one bedroom apartments and two (2) studio apartments. Property features hardwood floors throughout, long term tenants, new coin operated high efficiency washer/ dryer & high efficiency boiler & freshly painted stairs/ common areas. *All showings Tuesdays & Thursdays from 12 -3 PM. Listing agent to accompany all showings. Very Good Condition

14. 2018-08-23
    status Pend (Under Cntr) 532-char remark

    Show marketing remark (532 chars)

    Well maintained 7-unit investment property located on one of Albany's most sought after Center Square neighborhoods. Boasting 100% occupancy, the building is made up of five (5) one bedroom apartments and two (2) studio apartments. Property features hardwood floors throughout, long term tenants, new coin operated high efficiency washer/ dryer & high efficiency boiler & freshly painted stairs/ common areas. *All showings Tuesdays & Thursdays from 12 -3 PM. Listing agent to accompany all showings. Very Good Condition

15. 2018-06-18
    price $565,000 532-char remark

    Show marketing remark (532 chars)

    Well maintained 7-unit investment property located on one of Albany's most sought after Center Square neighborhoods. Boasting 100% occupancy, the building is made up of five (5) one bedroom apartments and two (2) studio apartments. Property features hardwood floors throughout, long term tenants, new coin operated high efficiency washer/ dryer & high efficiency boiler & freshly painted stairs/ common areas. *All showings Tuesdays & Thursdays from 12 -3 PM. Listing agent to accompany all showings. Very Good Condition

16. 2018-04-26
    listed $595,000 New 532-char remark

    Show marketing remark (532 chars)

    Well maintained 7-unit investment property located on one of Albany's most sought after Center Square neighborhoods. Boasting 100% occupancy, the building is made up of five (5) one bedroom apartments and two (2) studio apartments. Property features hardwood floors throughout, long term tenants, new coin operated high efficiency washer/ dryer & high efficiency boiler & freshly painted stairs/ common areas. *All showings Tuesdays & Thursdays from 12 -3 PM. Listing agent to accompany all showings. Very Good Condition

17. 2008-04-03
    soldstatus $400,000
18. 2005-12-09
    soldstatus $370,000
19. 2005-11-29
    soldstatus $370,000
20. 2005-05-27
    historical
21. 2005-05-11
    listed $387,000
22. 2002-12-13
    soldstatus $140,000
23. 2002-12-13
    soldstatus $140,000
24. 2002-11-22
    historical
25. 2002-11-18
    listed $175,900

ⓘ 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: $12,456 · $1,038/mo
• Projected year-2 tax: $12,473 · $1,039/mo
• Expected delta: +$17/yr (+$1/mo · 0.1%)

ⓘ 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 · 17 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: $159,396
• − Mortgage interest: −$41,395
• − Property taxes: −$12,456
• − Insurance: −$3,695
• − Repairs & maintenance: −$12,752
• − Management: −$12,752
• − Depreciation: −$21,498
• Taxable income: $54,848
• Est. tax owed @ 24.0%: −$13,164
• After-tax cash flow: $50,104/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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+320.1% since first listed

25 events — show timeline

• 2026-05-11 Pending — HVCRMLS
• 2026-04-22 Pending — Global MLS
• 2026-03-13 Price Changed $739,000 HVCRMLS
• 2026-03-07 Price Changed $739,000 Global MLS
• 2026-01-20 Relisted — Global MLS
• 2025-12-28 Listed $759,900 HVCRMLS
• 2025-10-17 Relisted — Global MLS
• 2025-10-07 Pending — Global MLS
• 2025-10-07 Listing Removed — Global MLS
• 2025-09-26 Price Changed $759,900 Global MLS
• 2025-09-03 Listed $799,900 Global MLS
• 2018-12-27 Sold (Public Records) $550,000 Public Records
• 2018-12-20 Sold (MLS) $550,000 Global MLS
• 2018-08-23 Pending — Global MLS
• 2018-06-18 Price Changed $565,000 Global MLS
• 2018-04-26 Listed $595,000 Global MLS
• 2008-04-03 Sold (Public Records) $400,000 Public Records
• 2005-12-09 Sold (Public Records) $370,000 Public Records
• 2005-11-29 Sold (MLS) $370,000 Global MLS
• 2005-05-27 Listing Removed — Global MLS
• 2005-05-11 Listed $387,000 Global MLS
• 2002-12-13 Sold (Public Records) $140,000 Public Records
• 2002-12-13 Sold (MLS) $140,000 Global MLS
• 2002-11-22 Listing Removed — Global MLS
• 2002-11-18 Listed $175,900 Global MLS

Property tax history

+2.4%/yr

Latest (2025): $12,456 · +4.8% YoY. Source: county tax records.