506 Hattie St · Schenectady, NY 12308

$60,000

4 bd · 2.0 ba · 1,576 sqft · MultiFamily public records · 131 Days on market

Built 1900 2,178 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Located in the desirable north side neighborhood of Schdy! just mins away from rivers casino! Property owned by City of Schenectady. Buyer responsible for verifying taxes. Minimum proof of funds should include your offer price plus reserves of $62,500. The City will not review offers without all supporting paperwork. Accuracy of property information in this listing is not guaranteed. First Step is to review purchase offer form in documents. Hold Harmless must be signed to enter without exception.

Key facts

• 2,178 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 67.8% 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: Jessie T Zoller Elementary School (math 37% / reading 52%, grade F, #1,277 of 2,108 statewide, top 64%, 451 students, 69% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Market conditions: 79 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $4,420/mo this rent would consume 84% of the median local household income ($63k/yr) (locally 1016% 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 $415 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 7.37% ✓
• Cap rate: 67.84%
• Cash-on-cash: 219.80%
• DSCR: 10.78
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $198,576
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 Lang St	0.20mi	4/2.0	1,692 (+7%)	6mo	$201,100	$119	74
623 Seneca St	0.42mi	4/2.0	1,496 (-5%)	10mo	$265,500	$177	63
1524 Devine St	0.07mi	4/2.0	1,728 (+10%)	22mo	$165,000	$95	62
112 Porter St	0.68mi	4/2.0	1,556 (-1%)	13mo	$255,000	$164	56
1841 Avenue A	0.52mi	4/2.0	1,644 (+4%)	17mo	$230,000	$140	55
2034 Avenue A	0.69mi	4/2.0	1,440 (-9%)	2mo	$185,000	$128	51
701 Windsor Ter	0.62mi	4/2.0	1,560 (-1%)	22mo	$45,100	$29	51
526 Clarendon St	0.43mi	4/2.0	1,728 (+10%)	18mo	$145,000	$84	49
321 Front St	0.50mi	4/2.0	1,744 (+11%)	15mo	$220,000	$126	46

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: —
• Equity multiple: 12.09×
• Total profit: $186,330
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 25.70×
• Total profit: $414,886
• Equity at exit: $5,188

Cash invested: $16,800 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 79
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $4,420 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$928
• Net cashflow: $3,077

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 25%

Sensitivity live

Price	-10% $3,119	-5% $3,098	+0% $3,077	+5% $3,056	+10% $3,036
Rent	-10% $2,728	-5% $2,903	+0% $3,077	+5% $3,252	+10% $3,426
Rate	-1.0pp $3,107	-0.5pp $3,092	base $3,077	+0.5pp $3,062	+1.0pp $3,046

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$4,419
Total (3 units)			$4,420

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	45d	1	0.11mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	45d	1	0.24mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	25d	1	0.30mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	45d	1	0.31mi
1755 Avenue B Unit B Schenectady, NY	3.0	1.0	1200	$1,700	$1.42	15d	1	0.44mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	45d	1	0.57mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	15d	1	0.84mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,445	$2.21	15d	1	0.91mi
1165 Cresse Ave Schenectady, NY	3.0	1.0	1196	$2,800	$2.34	15d	1	0.99mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	45d	1	1.06mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	15d	9	1.15mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	25d	1	1.31mi
2011 Ridge Manor Ct Niskayuna, NY	3.0	2.5	1440	$2,300	$1.60	45d	1	1.37mi

Listing history 2 events

1. 2026-04-01
   status Pending
2. 2025-11-21
   listed $60,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2/10 Low 4% 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: $53,040
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$4,243
• − Management: −$4,243
• − Depreciation: −$1,745
• Taxable income: $38,247
• Est. tax owed @ 24.0%: −$9,179
• After-tax cash flow: $27,747/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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

2 events — show timeline

• 2026-04-01 Pending — Global MLS
• 2025-11-21 Listed $60,000 Global MLS

Property tax history

+0.4%/yr

Latest (2025): $3,224 · -23.7% YoY. Source: county tax records.