288 Krumkill Rd · Albany, NY 12159

$239,900

4 bd · 2.0 ba · 2,647 sqft · SingleFamily public records · 2 Days on market

Built 1818 0.86 ac lot $91/sqft · 68% below area ↓ 13% since listing

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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 +10.6/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• DSCR +3.0/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks

Bring this charming late-1800s farmhouse back to its former glory! Rich in history and full of character, this home is ready for your vision and restoration. Featuring abundant natural woodwork, multiple fireplaces, and countless unique nooks and crannies, it offers timeless appeal throughout. Enjoy the best of both worlds--privacy and convenience. Located just minutes from shopping, dining, and major highways, yet tucked away in a peaceful setting, you truly can have a classic period home with easy access to everything you need. This Slingerlands farmhouse showcases wide plank hardwood floors , exposed beams, built-ins, original trim and doors, and even a back staircase. A lovely sunporch

Key facts

• Late 1800s farmhouse
• Multiple fireplaces
• Exposed beams

Tags

• LATE 1800S FARMHOUSE
• ABUNDANT NATURAL WOODWORK
• MULTIPLE FIREPLACES
• UNIQUE NOOKS AND CRANNIES
• WIDE PLANK HARDWOOD FLOORS
• EXPOSED BEAMS

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Driveway parking for additional vehicles (total 5 parking spaces)
• Utilities: Public water; Septic tank; Cable connected
• Home design: Single family residence; Level lot
• Construction: Aluminum siding with drywall and plaster interior; Stone foundation; Asphalt roof; Built living area approximately 2,311
• Exterior features: Rear enclosed porch; Deck; Barn(s); Exterior lighting

Interior

• Kitchen: Dishwasher; Gas oven; Microwave; Refrigerator; Gas water heater
• Bedrooms: Four bedrooms located on the second level
• Flooring: Tile; Carpet; Hardwood
• Bathrooms: Two full bathrooms (both on the second level)
• Heating & cooling: Hot water heat; Natural gas
• Interior features: Paddle fan; Built-in features; Unfinished basement; Three fireplaces (including dining room and family room)
• Laundry & utility: Main level laundry room; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (22.8% below list).
• Recommended offer: $185k (22.8% below list) — sets the bar for 1% rule.

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.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Westmere Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 539 students, 26% FRL); Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Market conditions: 39 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 $2k of loan paydown is wiped out by about $7k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1818 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,167 (22.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1818 — 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. 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?
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 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: 0.77% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.15%
• DSCR: 0.90
• GRM: 10.8

CMA / ARV

• ARV (median comp): $656,311
• List price: $239,900
• Delta: -63.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Marquis Dr	0.12mi	4/2.5	2,378 (-10%)	15mo	$538,000	$226	63
15 Seneca Ct	0.44mi	5/3.0 (+1)	2,434 (-8%)	1mo	$549,900	$226	56
35 Iroquois Trl	0.36mi	4/2.5	2,443 (-8%)	23mo	$601,500	$246	49
22 Frances Ln	0.70mi	3/2.5 (-1)	2,250 (-15%)	9mo	$500,000	$222	28

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: -19.9%
• Equity multiple: 0.31×
• Total profit: $-46,572
• Equity at exit: $35,770

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-50,515
• Equity at exit: $20,742

Cash invested: $67,172 (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 12159

• Home prices YoY: -2.2%
• Active inventory: 39
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,852 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$225 /mo · $2,705/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-121

Break-even live

Break-even rent $2,004

Max offer price $218,599

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-53	+0% $-121	+5% $-188	+10% $-256
Rent	-10% $-267	-5% $-194	+0% $-121	+5% $-47	+10% $26
Rate	-1.0pp $0	-0.5pp $-60	base $-121	+0.5pp $-183	+1.0pp $-246

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-17
   status Pending 936-char remark
2. 2026-05-15
   listed $239,900 Active 936-char remark
3. 2018-10-08
   status Pend (Under Cntr)
4. 2018-10-06
   status Active
5. 2018-10-05
   historical
6. 2018-09-17
   status Pend (Under Cntr)
7. 2018-09-08
   price $229,000
8. 2018-08-06
   listed $235,000 New
9. 2018-01-01
   historical
10. 2017-07-03
    price $249,900
11. 2017-06-19
    listed $274,900 New

ⓘ 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: $2,705 · $225/mo
• Projected year-2 tax: $3,379 · $282/mo
• Expected delta: +$675/yr (+$56/mo · 25.0%)

ⓘ 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 · 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: $22,220
• − Mortgage interest: −$13,438
• − Property taxes: −$2,705
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$6,979
• Taxable loss: −$5,656
• Est. tax savings @ 24.0%: +$1,358
• After-tax cash flow: $-89/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 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

• City population: 116,921
• Population (ZIP): 8,794

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 (82%)
• Race & ethnicity: White 82% Asian 8% Hispanic / Latino 5% Two or more races 5% Black 3%
• Common ancestry: Romanian 7% Scotch-Irish 6% Lithuanian 4%
• Foreign-born: 13% · Canada, China, Dominican Republic
• Languages at home: 84% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 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: ▼ -6.63%
• Current HPI: 290.2952
• 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

-12.7% since first listed

11 events — show timeline

• 2026-05-17 Pending — Global MLS
• 2026-05-15 Listed $239,900 Global MLS
• 2018-10-08 Pending — Global MLS
• 2018-10-06 Relisted — Global MLS
• 2018-10-05 Listing Removed — Global MLS
• 2018-09-17 Pending — Global MLS
• 2018-09-08 Price Changed $229,000 Global MLS
• 2018-08-06 Listed $235,000 Global MLS
• 2018-01-01 Listing Removed — Global MLS
• 2017-07-03 Price Changed $249,900 Global MLS
• 2017-06-19 Listed $274,900 Global MLS

Property tax history

+25.7%/yr

Latest (2025): $2,705 · +3.0% YoY. Source: county tax records.