3 Osborne St · Albany, NY 12202

$175,000

4 bd · 1.5 ba · 1,848 sqft · Townhouse public records · 50 Days on market

Built 1873 1,306 sqft lot $95/sqft · 8% below area Est $191k · 8% under

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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 +18.8/30.0
• ARV discount +11.3/15.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• 1% rule +5.6/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

BUILT IN 1873,1985' REHAB-HISTORIC PRESERVATION AWARD ALL NEW ELC& PLUM IN 85'NEW ROOF 01'; NEW FURNACE & HOT WTR TNK 00'. CEN A/C. MBR W/ ADJOINING DRSSNG RM/BR#2 AJOINS#3. COULD BE 4BR TOTAL. SUPERB CONDITION! 448-6203 -- Excellent Condition

Key facts

• Nys tax credits
• Original moldings
• High ceilings

Tags

• HISTORIC DISTRICT
• ORIGINAL MOLDINGS
• HIGH CEILINGS
• CLASSIC WOOD FLOORS
• NEWLY INSTALLED CERAMIC TILE
• NYS TAX CREDITS

Property features AI

Exterior

• Utilities: 100 Amp electric service; Public water; Public sewer
• Home design: Single-family residence; Brick construction
• Construction: Brick construction
• Exterior features: Fenced backyard

Interior

• Kitchen: Cooktop; Oven; Dishwasher; Refrigerator
• Bedrooms: Two upstairs bedrooms; Upstairs office
• Flooring: Ceramic tile
• Bathrooms: One full bathroom on the second level; One half bathroom on the first level
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: Crown molding; Full finished basement; Pantry
• Laundry & utility: Upper-level laundry room; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Giffen Memorial Elementary School (math 17% / reading 22%, grade F, #1,992 of 2,108 statewide, top 95%, 404 students, 93% FRL); Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools average 81% FRL vs 66% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.7%/yr); 58 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 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 $65k; list at $175k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1873 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.06% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• GRM: 7.8

CMA / ARV

• ARV (median comp): $190,997
• List price: $175,000
• Delta: -8.38%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 3.38×
• Total profit: $116,477
• Equity at exit: $157,654

10-year hold

• IRR: 27.3%
• Equity multiple: 8.32×
• Total profit: $358,708
• Equity at exit: $339,987

Cash invested: $49,000 (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 12202

• Home prices YoY: 14.3%
• Rents YoY: 8.7%
• Active inventory: 58
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,863 high
• Mortgage (P&I): −$918
• Tax from tax record: −$304 /mo · $3,651/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $177

Break-even live

Break-even rent $1,639

Max offer price $175,000

Occupancy floor 86%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	43d	1	0.24mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	43d	1	0.51mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.61mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	0.88mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	14d	1	1.05mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	43d	1	1.10mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	1.43mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	43d	1	1.46mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	23d	1	1.46mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	23d	1	1.46mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $175,000 Active 50 DOM
2. 2026-06-17
   days on market $175,000 Active 49 DOM
3. 2026-06-16
   days on market $175,000 Active 48 DOM
4. 2026-06-15
   days on market $175,000 Active 47 DOM
5. 2026-06-14
   days on market $175,000 Active 45 DOM
6. 2026-06-10
   days on market $175,000 Active 42 DOM
7. 2026-06-08
   days on market $175,000 Active 40 DOM
8. 2026-06-07
   days on market $175,000 Active 39 DOM
9. 2026-06-03
   days on market $175,000 Active 35 DOM
10. 2026-06-02
    days on market $175,000 Active 34 DOM
11. 2026-06-01
    days on market $175,000 Active 33 DOM
12. 2026-05-31
    days on market $175,000 Active 32 DOM
13. 2026-05-31
    days on market $175,000 Active 31 DOM
14. 2026-04-29
    listed $175,000 Active 838-char remark
15. 2026-02-05
    historical
16. 2025-10-24
    price $175,000
17. 2025-04-28
    listed $250,000 Active
18. 2002-11-04
    soldstatus $65,000

    Show marketing remark (251 chars)

    BUILT IN 1873,1985' REHAB-HISTORIC PRESERVATION AWARD ALL NEW ELC& PLUM IN 85'NEW ROOF 01'; NEW FURNACE & HOT WTR TNK 00'. CEN A/C. MBR W/ ADJOINING DRSSNG RM/BR#2 AJOINS#3. COULD BE 4BR TOTAL. SUPERB CONDITION! 448-6203 -- Excellent Condition

19. 2002-11-04
    soldstatus $65,000

    Show marketing remark (251 chars)

    BUILT IN 1873,1985' REHAB-HISTORIC PRESERVATION AWARD ALL NEW ELC& PLUM IN 85'NEW ROOF 01'; NEW FURNACE & HOT WTR TNK 00'. CEN A/C. MBR W/ ADJOINING DRSSNG RM/BR#2 AJOINS#3. COULD BE 4BR TOTAL. SUPERB CONDITION! 448-6203 -- Excellent Condition

20. 2002-09-17
    historical

    Show marketing remark (251 chars)

    BUILT IN 1873,1985' REHAB-HISTORIC PRESERVATION AWARD ALL NEW ELC& PLUM IN 85'NEW ROOF 01'; NEW FURNACE & HOT WTR TNK 00'. CEN A/C. MBR W/ ADJOINING DRSSNG RM/BR#2 AJOINS#3. COULD BE 4BR TOTAL. SUPERB CONDITION! 448-6203 -- Excellent Condition

21. 2002-04-24
    listed $69,500

    Show marketing remark (251 chars)

    BUILT IN 1873,1985' REHAB-HISTORIC PRESERVATION AWARD ALL NEW ELC& PLUM IN 85'NEW ROOF 01'; NEW FURNACE & HOT WTR TNK 00'. CEN A/C. MBR W/ ADJOINING DRSSNG RM/BR#2 AJOINS#3. COULD BE 4BR TOTAL. SUPERB CONDITION! 448-6203 -- Excellent Condition

ⓘ 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: $3,651 · $304/mo
• Projected year-2 tax: $3,651 · $304/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 ≥98°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: $22,351
• − Mortgage interest: −$9,803
• − Property taxes: −$3,651
• − Insurance: −$875
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$5,091
• Taxable loss: −$645
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $2,273/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): 10,166
• Household income: $52,868
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 935.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 40% White 28% Hispanic / Latino 15% Two or more races 14% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 5%
• Common ancestry: Iranian 2% Romanian 1% Serbian 1%
• Foreign-born: 14% · Canada, Philippines, China
• Languages at home: 80% English-only · Spanish 10% Other Asian/Pacific 4% Arabic 1%

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: ▲ 38.05%
• Current HPI: 303.8939
• Rent YoY: ▲ 8.70%
• 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

+151.8% since first listed

8 events — show timeline

• 2026-04-29 Listed $175,000 Global MLS
• 2026-02-05 Listing Removed — Global MLS
• 2025-10-24 Price Changed $175,000 Global MLS
• 2025-04-28 Listed $250,000 Global MLS
• 2002-11-04 Sold (Public Records) $65,000 Public Records
• 2002-11-04 Sold (MLS) $65,000 Global MLS
• 2002-09-17 Listing Removed — Global MLS
• 2002-04-24 Listed $69,500 Global MLS

Property tax history

+7.5%/yr

Latest (2025): $3,651 · -5.0% YoY. Source: county tax records.