118 Robinson St · Schenectady, NY 12304

$249,900

4 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 5 Days on market

Built 1900 3,920 sqft lot Est $175k · 43% over

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Why this score? — see what drove the D+ 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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Owner occupy or Turnkey investment opportunity in the heart of Schenectady! This fully renovated up-and-down duplex features a spacious 3-bedroom, 1-bath unit on the first floor and a cozy 1-bedroom, 1-bath unit on the second both currently vacant and ready for your ideal tenants. Enjoy brand-new finishes throughout, including updated kitchens with new cabinetry and appliances, refreshed bathrooms, and quality flooring. Each unit offers separate utilities (electric, gas, and water heater), keeping owner expenses low. The owner covers only sewer, trash, and water. Additional highlights include a full basement, front porch, off-street parking for up to 6 vehicles, in-unit washer/dryer hookups

Key facts

• Separate utilities
• Quality flooring
• Full basement

Tags

• FULLY RENOVATED DUPLEX
• UPDATED KITCHENS
• REFRESHED BATHROOMS
• QUALITY FLOORING
• SEPARATE UTILITIES
• FULL BASEMENT

Property features AI

Finance

• Financial info: Property configured as 2 units; Tenants pay hot water, heat, and electricity; Owner pays trash collection, sewer, and water

Exterior

• Parking: Off-street parking; Driveway; 6 total parking spaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Duplex; Brick and vinyl siding exterior; Asphalt roof
• Construction: Brick and vinyl siding construction
• Exterior features: Level lot

Interior

• Kitchen: Unit 1: kitchen on the 1st floor; Unit 2: kitchen on the 2nd floor
• Bedrooms: Unit 1: 3 bedrooms on the 1st floor; Unit 2: 1 bedroom on the 2nd floor
• Flooring: Vinyl; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms total (one full bath on 1st floor, one full bath on 2nd floor)
• Heating & cooling: Baseboard heating; Electric heating; Forced air; Natural gas; Has heating
• Interior features: Full basement; Front porch
• Laundry & utility: Laundry located in a bathroom and on the main level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive. Per door: $230/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.5% 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: 107 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $32k; list at $250k implies a 681% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,900

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 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $175,104
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Swan St	0.67mi	4/2.0	1,548 (+1%)	5mo	$2,570	$2	63
117 Henry St	0.44mi	4/2.0	1,600 (+4%)	18mo	$190,000	$119	57
1762 Hamburg St	0.68mi	3/2.0 (-1)	1,514 (-1%)	18mo	$173,000	$114	46
103 Frank St	0.55mi	3/2.0 (-1)	1,396 (-9%)	23mo	$150,000	$107	36

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-11,090
• Equity at exit: $37,261

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $28,403
• Equity at exit: $21,607

Cash invested: $69,972 (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 12304

• Home prices YoY: -25.5%
• Active inventory: 107
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $2,827 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$358 /mo · $4,298/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $461

Break-even live

Break-even rent $2,244

Max offer price $249,900

Occupancy floor 79%

Sensitivity live

Price	-10% $602	-5% $531	+0% $461	+5% $390	+10% $319
Rent	-10% $237	-5% $349	+0% $461	+5% $572	+10% $684
Rate	-1.0pp $586	-0.5pp $524	base $461	+0.5pp $396	+1.0pp $330

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,826
Total (2 units)			$2,827

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	44d	1	0.80mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	24d	1	1.12mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	44d	1	1.19mi

Listing history 6 events

1. 2026-05-19
   listed $249,900 Active
2. 2017-08-07
   soldstatus $32,000
3. 2011-08-29
   historical
4. 2011-02-18
   listed $54,900
5. 2010-03-15
   historical
6. 2009-10-16
   listed $19,900

ⓘ 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: $4,298 · $358/mo
• Projected year-2 tax: $4,298 · $358/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 ≥95°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: $33,924
• − Mortgage interest: −$13,998
• − Property taxes: −$4,298
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,714
• − Management: −$2,714
• − Depreciation: −$7,270
• Taxable income: $1,681
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $5,123/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
• City population: 141,369
• Population (ZIP): 22,027

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% 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: ▼ -113.18%
• Current HPI: 331.0288
• 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

Price history

+1155.8% since first listed

6 events — show timeline

• 2026-05-19 Listed $249,900 Global MLS
• 2017-08-07 Sold (Public Records) $32,000 Public Records
• 2011-08-29 Listing Removed — Global MLS
• 2011-02-18 Listed $54,900 Global MLS
• 2010-03-15 Listing Removed — Global MLS
• 2009-10-16 Listed $19,900 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $4,298 · +4.4% YoY. Source: county tax records.