300 16th St · Watervliet, NY 12189

$339,900

6 bd · 3.0 ba · 3,438 sqft · MultiFamily public records · 7 Days on market

Built 1890 6,098 sqft lot Est $371k · 8% under

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Why this score? — see what drove the C 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 +20.5/30.0
• ARV discount +11.3/15.0
• DSCR +6.5/10.0
• 1% rule +5.8/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Fabulous Two Family home in a very nice location. Perfect for owner to occupy! Each flat offers 1700 square feet! Beautiful woodwork and details throughout. Newer furnaces and roof, huge kitchens. Spacious rooms, large porches. Plenty of storage spa -- Excellent Condition

Key facts

• Fenced yard
• Double lot
• Original woodwork

Tags

• DOUBLE LOT
• ORIGINAL WOODWORK
• ENCLOSED FRONT PORCH
• FENCED YARD
• OFF-STREET PARKING
• WALKING DISTANCE TO SHOPPING

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Parking: Off-street parking for 1 vehicle
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Duplex; Brick construction; Shingle/asphalt roof
• Construction: Brick construction; Shingle/asphalt roof
• Exterior features: Covered patio/porch; Chain link and perimeter fencing; Level, cleared corner lot; 60 ft main road frontage

Interior

• Kitchen: Each unit has a full kitchen
• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 3 bedrooms (all on 2nd floor)
• Flooring: Carpet; Ceramic tile; Hardwood
• Bathrooms: Two full bathrooms (one on 1st floor, one on 2nd floor)
• Heating & cooling: Radiant heating; Natural gas heating
• Interior features: Solid surface counters; Paddle ceiling fan; Built-in features; Crown molding; Two fireplaces
• Laundry & utility: Laundry in basement; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive. Per door: $197/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• Cap rate 7.9% vs local median 5.9% in Watervliet — 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 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,687/mo this rent would consume 68% of the median local household income ($65k/yr) (locally 1224% 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 $10k 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 + 6.6% rent growth), your $95k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y 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 $234k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $339,900

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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $371,304
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1526 6th Ave	0.13mi	7/2.0 (+1)	3,485 (+1%)	11mo	$236,000	$68	73
512 16th St	0.13mi	7/2.5 (+1)	3,100 (-10%)	3mo	$287,500	$93	68
311 16th St	0.04mi	5/3.0 (-1)	3,172 (-8%)	16mo	$306,500	$97	67
1624 3rd Ave	0.08mi	5/3.0 (-1)	2,957 (-14%)	2mo	$330,000	$112	66
1517 6th Ave	0.16mi	7/2.0 (+1)	3,324 (-3%)	19mo	$267,000	$80	62
902 24th St	0.54mi	5/2.0 (-1)	3,118 (-9%)	3mo	$350,000	$112	48
231 2nd St	0.61mi	6/3.0	3,825 (+11%)	9mo	$316,000	$83	45
2100 3rd Ave	0.24mi	5/4.0 (-1)	2,929 (-15%)	12mo	$317,500	$108	45
181 4th St	0.67mi	6/4.0	3,100 (-10%)	21mo	$535,000	$173	31
229 2nd St	0.60mi	6/6.0	3,840 (+12%)	15mo	$450,000	$117	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 · 6.61% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-15,887
• Equity at exit: $50,680

10-year hold

• IRR: 9.4%
• Equity multiple: 1.85×
• Total profit: $80,544
• Equity at exit: $29,388

Cash invested: $95,172 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,687 high
• Mortgage (P&I): −$1,782
• Tax from tax record: −$538 /mo · $6,458/yr
• Insurance: −$142
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $395

Break-even live

Break-even rent $3,187

Max offer price $339,900

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,686
Total (2 units)			$3,687

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $339,900 Active 7 DOM
2. 2026-06-17
   days on market $339,900 Active 6 DOM
3. 2026-06-16
   days on market $339,900 Active 5 DOM
4. 2026-06-15
   days on market $339,900 Active 4 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $339,900 Active 2 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: $6,458 · $538/mo
• Projected year-2 tax: $6,458 · $538/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 8/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,244
• − Mortgage interest: −$19,040
• − Property taxes: −$6,458
• − Insurance: −$2,366
• − Repairs & maintenance: −$3,540
• − Management: −$3,540
• − Depreciation: −$9,888
• Taxable loss: −$586
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $4,880/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: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

Amenities A+ Commute A Cost of living B+ Crime D+ Employment C Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, NY
• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 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: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

+125.2% since first listed

7 events — show timeline

• 2026-06-11 Listed $339,900 Global MLS
• 2022-01-14 Sold (Public Records) $234,000 Public Records
• 2012-06-18 Sold (Public Records) $185,500 Public Records
• 2012-06-14 Sold (MLS) $185,500 Global MLS
• 2012-03-12 Listing Removed — Global MLS
• 2011-10-18 Listed $197,500 Global MLS
• 2003-12-31 Sold (Public Records) $150,900 Public Records

Property tax history

+2.0%/yr

Latest (2025): $6,458 · +2.8% YoY. Source: county tax records.