301 5th Ave · Troy, NY 12182

$149,000

6 bd · 2.5 ba · 2,862 sqft · MultiFamily public records · 4 Days on market

Built 1900 6,098 sqft lot Est $278k · 46% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• 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: 2 units. confirmed

Listing remarks MLS

GREAT HANDYMAN SPECIAL! First unit occupies portion of 1st and 2nd floor, which should be changed back to 2 family flats. Should be 2 three bedroom flats. Priced as such. Huge walk-up attic could be additional living area., large double lot with off street parking. Currently on tax roll as single family. Should easily be reverted back to original 2 family status. Good Condition

Key facts

• 6,098 sq ft lot
• 2 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Multifamily with 2 total units

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Two-unit property; Living area reported as 2,862
• Construction: Construction materials: Other
• Exterior features: Asphalt shingle roof; Lot measures approximately 50 x 120

Interior

• Bedrooms: Each unit has 2 bedrooms
• Bathrooms: Two full bathrooms and one half bathroom total (full baths located on 1st and 2nd levels; half bath on 1st level); Unit 1: 1 full bath and 1 half bath; Unit 2: 1 full bath
• Heating & cooling: Hot water heating
• Interior features: Full basement; One fireplace

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $727/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Cap rate 18.5% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $70k; list at $149k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,000

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. 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. 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?
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: 2.16% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.44%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $277,614
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 6th Ave	0.43mi	6/2.5	2,770 (-3%)	5mo	$265,000	$96	70
343 4th Ave	0.14mi	6/4.0	2,652 (-7%)	8mo	$290,000	$109	69
312 5th Ave	0.05mi	6/2.0	2,502 (-13%)	12mo	$245,000	$98	64
320 Sixth Ave	0.11mi	6/2.0	2,472 (-14%)	13mo	$240,000	$97	59
172 6th Ave	0.36mi	6/2.0	2,454 (-14%)	1mo	$220,000	$90	56
224 5th Ave	0.21mi	7/3.5 (+1)	3,192 (+12%)	8mo	$242,000	$76	55
194 6th Ave	0.28mi	6/2.0	2,572 (-10%)	16mo	$210,000	$82	54
83 2nd Ave	0.58mi	6/3.0	2,608 (-9%)	2mo	$375,000	$144	54
33 Second Ave	0.68mi	6/2.0	2,620 (-8%)	7mo	$150,000	$57	46
109 2nd Ave	0.52mi	5/2.0 (-1)	2,708 (-5%)	17mo	$185,000	$68	45
105 6th Ave	0.53mi	6/2.0	2,464 (-14%)	10mo	$310,000	$126	42
508 5th Ave	0.58mi	6/2.0	2,464 (-14%)	17mo	$260,000	$106	33

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: 38.5%
• Equity multiple: 2.64×
• Total profit: $68,583
• Equity at exit: $22,216

10-year hold

• IRR: 45.0%
• Equity multiple: 5.30×
• Total profit: $179,351
• Equity at exit: $12,883

Cash invested: $41,720 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,215 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $1,455

Break-even live

Break-even rent $1,374

Max offer price $149,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$3,214
Total (2 units)			$3,215

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-15
   statusdays on market $149,000 Pending 4 DOM
2. 2026-06-14
   remarks 223-char remark
3. 2026-06-14
   listed $149,000 Active 3 DOM

ⓘ 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 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $38,580
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$1,412
• − Repairs & maintenance: −$3,086
• − Management: −$3,086
• − Depreciation: −$4,335
• Taxable income: $16,080
• Est. tax owed @ 24.0%: −$3,859
• After-tax cash flow: $13,596/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• City population: 53,479
• Population (ZIP): 14,273

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.58%
• Current HPI: 273.5758
• 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

+41.9% since first listed

9 events — show timeline

• 2026-06-11 Price Changed $149,000 Global MLS
• 2026-06-10 Listed $149,900 Global MLS
• 2020-08-31 Sold (Public Records) $70,000 Public Records
• 2020-08-06 Sold (MLS) $70,000 Global MLS
• 2020-06-28 Pending — Global MLS
• 2020-06-22 Listed $74,900 Global MLS
• 2020-03-10 Listing Removed — Global MLS
• 2019-11-25 Price Changed $99,000 Global MLS
• 2019-10-17 Listed $105,000 Global MLS

Property tax history

+27.0%/yr

Latest (2025): $12,535 · +3.1% YoY. Source: county tax records.