99 Lark St · Albany, NY 12210

$270,000

6 bd · 3.0 ba · 2,214 sqft · MultiFamily public records · 1 Days on market

Built 1877 1,306 sqft lot Est $239k · 13% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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
• ARV discount +1.7/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Multiple Offers - Best & Final Offers due Friday 8/2 by 6pm. This property offers three well-designed two-bedroom units, with the upper level featuring a loft bedroom for a touch of contemporary charm. Conveniently located, this triplex With a little TLS- this presents a solid investment opportunity. Sold as-is, cash or conventional financing only. Don't miss out -won't last long.

Key facts

• Cash flowing triplex
• Brand new roof
• Recent renovations

Tags

• BRAND NEW ROOF
• RECENT RENOVATIONS
• CASH FLOWING TRIPLEX
• STRONG INCOME

Property features AI

Finance

• Financial info: Three-unit multifamily property

Exterior

• Utilities: Public water; Public sewer
• Home design: Triplex; Total living area reported as 2,214
• Construction: Brick construction
• Exterior features: Flat roof; Lot approximately 0.03 acres

Interior

• Bedrooms: Three separate 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Each unit includes one full bath (three full baths total)
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: Basement of other/unspecified type; Three full bathrooms total (located in basement, 1st floor, and 2nd floor)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $551/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Cap rate 13.6% 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).
• At $4,488/mo this rent would consume 96% of the median local household income ($56k/yr) (locally 1211% 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 $2k of loan paydown is wiped out by about $8k 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 $76k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $201k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $270,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1877 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.24%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $239,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 Lark St	0.00mi	6/3.0	2,214 (0%)	4mo	$259,000	$117	96
18.5 Dudley Hts	0.53mi	6/2.0	2,200 (-1%)	0mo	$289,900	$132	70
314-316 Orange St	0.05mi	6/2.0	2,475 (+12%)	6mo	$126,000	$51	69
10 Wilkins Ave	0.48mi	6/2.0	2,294 (+4%)	1mo	$280,000	$122	67
391 Washington Ave	0.50mi	7/4.0 (+1)	2,217 (+0%)	5mo	$350,000	$158	64
362 Clinton Ave	0.19mi	7/4.0 (+1)	2,490 (+12%)	2mo	$270,000	$108	60
337 3rd St	0.50mi	6/2.0	2,058 (-7%)	1mo	$160,000	$78	60
351 2nd St	0.49mi	6/2.0	2,056 (-7%)	3mo	$184,002	$89	58
9 Pennsylvania Ave	0.37mi	5/2.0 (-1)	1,960 (-12%)	4mo	$225,000	$115	51
184 N Lake Ave	0.60mi	6/2.0	1,974 (-11%)	1mo	$195,000	$99	48
469 Clinton Ave	0.40mi	5/3.0 (-1)	2,520 (+14%)	6mo	$239,000	$95	48
157 Western Ave	0.74mi	7/2.0 (+1)	2,144 (-3%)	5mo	$215,000	$100	47

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 · 6.86% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.05×
• Total profit: $79,724
• Equity at exit: $40,258

10-year hold

• IRR: 34.5%
• Equity multiple: 4.78×
• Total profit: $285,790
• Equity at exit: $23,345

Cash invested: $75,600 (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: 15.0×

Monthly cashflow live

• Estimated rent: $4,488 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$364 /mo · $4,368/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$942
• Net cashflow: $1,653

Break-even live

Break-even rent $2,395

Max offer price $270,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,488
Total (3 units)			$4,488

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $270,000 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: $4,368 · $364/mo
• Projected year-2 tax: $4,466 · $372/mo
• Expected delta: +$97/yr (+$8/mo · 2.2%)

ⓘ 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: $53,856
• − Mortgage interest: −$15,124
• − Property taxes: −$4,368
• − Insurance: −$1,350
• − Repairs & maintenance: −$4,308
• − Management: −$4,308
• − Depreciation: −$7,855
• Taxable income: $16,542
• Est. tax owed @ 24.0%: −$3,970
• After-tax cash flow: $15,867/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

+90.1% since first listed

14 events — show timeline

• 2026-06-19 Price Changed $270,000 Global MLS
• 2026-06-18 Listed $275,000 Global MLS
• 2024-10-17 Sold (MLS) $201,000 Global MLS
• 2024-08-08 Pending — Global MLS
• 2024-07-26 Listed $194,900 Global MLS
• 2022-08-25 Pending — Global MLS
• 2022-07-05 Contingent — Global MLS
• 2022-06-21 Listed $179,900 Global MLS
• 2006-06-29 Sold (Public Records) $140,490 Public Records
• 2006-06-13 Sold (MLS) $142,000 Global MLS
• 2006-03-14 Listed $144,000 Global MLS
• 2006-02-15 Listing Removed — Global MLS
• 2005-07-28 Listed $142,000 Global MLS
• 2005-07-28 Sold (MLS) $142,000 Global MLS

Property tax history

-1.6%/yr

Latest (2025): $4,368 · -2.4% YoY. Source: county tax records.