1153 7th Ave · Watervliet, NY 12189

$299,950

4 bd · 2.0 ba · 2,163 sqft · MultiFamily public records · 29 Days on market

Built 1850 9,147 sqft lot $139/sqft · 11% below area Est $338k · 11% 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 +23.0/30.0
• ARV discount +12.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.4/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This rare brick 2 family home located in the heart of Watervliet sits on a triple lot with a 2 car garage. Watervliet was just voted the #8 Best Places to live for 1st time homebuyers. Perfect home for either owner occupied or investor. Each unit features 2BR/1 bath, office, LR, DR, enclosed back porches, hardwood floors, vinyl replacement windows, separate utilities and laundry. Exterior of home was just freshly painted. Full dry basement. Don't delay in seeing this one!

Key facts

• 9,147 sq ft lot
• 2 garage spots
• Built 1850

Property features AI

Finance

• Other: Lot size approximately 0.21 acres
• Financial info: Property is a 2-unit multifamily; Tenant responsibilities: hot water, electricity, gas; Owner responsibilities: water, sewer, trash collection, snow removal

Exterior

• Parking: Detached garage; 2 garage spaces (2 total parking spaces)
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Garden; Garage(s) as additional structures

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 1: 2-bedroom option listed (data shows both 1 and 2); Unit 2: 2 bedrooms
• Bathrooms: Each unit has 1 full bathroom (both full baths located on 2nd level)
• Heating & cooling: Hot water heating
• Interior features: Full basement; Smoke and carbon monoxide detectors
• Laundry & utility: Tenants pay hot water, electricity, and gas; Owner pays water, sewer, trash collection, and snow removal

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,406/mo this rent would consume 63% 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 $9k 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 $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $240k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $295,450 (1.5% below list)

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 1.14% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 7.3

CMA / ARV

• ARV (median comp): $337,767
• List price: $299,950
• Delta: -11.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1506-08 7th Ave	0.32mi	4/4.0	2,108 (-2%)	0mo	$190,000	$90	73
1235 5th Ave	0.14mi	4/3.0	2,328 (+8%)	6mo	$290,000	$125	71
25 13th St	0.40mi	5/2.0 (+1)	2,106 (-3%)	1mo	$289,900	$138	71
1316 5th Ave	0.20mi	5/2.0 (+1)	2,346 (+8%)	5mo	$280,000	$119	67
1291 3rd Ave	0.24mi	4/2.0	1,964 (-9%)	10mo	$309,000	$157	66
109 13th St	0.36mi	5/2.0 (+1)	2,112 (-2%)	12mo	$232,500	$110	64
778 14th St	0.22mi	4/2.0	1,920 (-11%)	10mo	$228,000	$119	63
588 6th Ave	0.66mi	4/2.0	2,120 (-2%)	9mo	$256,100	$121	59
1525 6th Ave	0.37mi	5/2.0 (+1)	2,464 (+14%)	2mo	$240,000	$97	53
1871 9th Ave	0.58mi	4/2.0	2,442 (+13%)	10mo	$235,000	$96	44
611 4th Ave	0.64mi	3/2.0 (-1)	2,448 (+13%)	8mo	$293,000	$120	37
2130 4th Ave	0.72mi	5/2.0 (+1)	2,472 (+14%)	12mo	$230,000	$93	27

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-1,599
• Equity at exit: $44,724

10-year hold

• IRR: 12.7%
• Equity multiple: 2.19×
• Total profit: $99,577
• Equity at exit: $25,934

Cash invested: $83,986 (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: 14.7×

Monthly cashflow live

• Estimated rent: $3,406 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$458 /mo · $5,492/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $535

Break-even live

Break-even rent $2,729

Max offer price $299,950

Occupancy floor 79%

Sensitivity live

Price	-10% $705	-5% $620	+0% $535	+5% $450	+10% $365
Rent	-10% $266	-5% $401	+0% $535	+5% $670	+10% $804
Rate	-1.0pp $686	-0.5pp $611	base $535	+0.5pp $457	+1.0pp $378

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,406
Total (2 units)			$3,406

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: $74,988
• Closing costs: $8,998
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	22d	1	0.83mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	15d	1	0.83mi
150 2nd St Troy, NY	4.0	1.5	2442	$3,000	$1.23	22d	1	0.91mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$3,635	$2.01	15d	7	1.05mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,349	$1.12	24d	8	1.22mi
6-14 Cedarview Ln Watervliet, NY	3.0	2.5	2000	$3,300	$1.65	15d	1	1.23mi
11 Spring Ave Troy, NY	3.0	2.0	1788	$2,500	$1.40	24d	1	1.44mi

Listing history 25 events

1. 2026-06-18
   days on market $299,950 Active 29 DOM
2. 2026-06-17
   days on market $299,950 Active 28 DOM
3. 2026-06-16
   days on market $299,950 Active 27 DOM
4. 2026-06-15
   days on market $299,950 Active 26 DOM
5. 2026-06-14
   days on market $299,950 Active 24 DOM
6. 2026-06-10
   days on market $299,950 Active 21 DOM
7. 2026-06-09
   days on market $299,950 Active 20 DOM
8. 2026-06-08
   days on market $299,950 Active 19 DOM
9. 2026-06-07
   days on market $299,950 Active 18 DOM
10. 2026-06-05
    days on market $299,950 Active 15 DOM
11. 2026-06-03
    days on market $299,950 Active 14 DOM
12. 2026-06-02
    days on market $299,950 Active 13 DOM
13. 2026-06-01
    days on market $299,950 Active 12 DOM
14. 2026-05-31
    days on market $299,950 Active 11 DOM
15. 2026-05-31
    days on market $299,950 Active 10 DOM
16. 2026-05-07
    status Pending 221-char remark
17. 2026-04-28
    listed $299,950 Active 221-char remark
18. 2023-10-26
    soldstatus $240,000
19. 2023-10-19
    soldstatus $240,000 Closed 476-char remark

    Show marketing remark (476 chars)

    This rare brick 2 family home located in the heart of Watervliet sits on a triple lot with a 2 car garage. Watervliet was just voted the #8 Best Places to live for 1st time homebuyers. Perfect home for either owner occupied or investor. Each unit features 2BR/1 bath, office, LR, DR, enclosed back porches, hardwood floors, vinyl replacement windows, separate utilities and laundry. Exterior of home was just freshly painted. Full dry basement. Don't delay in seeing this one!

20. 2023-09-11
    status Pending 476-char remark

    Show marketing remark (476 chars)

    This rare brick 2 family home located in the heart of Watervliet sits on a triple lot with a 2 car garage. Watervliet was just voted the #8 Best Places to live for 1st time homebuyers. Perfect home for either owner occupied or investor. Each unit features 2BR/1 bath, office, LR, DR, enclosed back porches, hardwood floors, vinyl replacement windows, separate utilities and laundry. Exterior of home was just freshly painted. Full dry basement. Don't delay in seeing this one!

21. 2023-09-05
    listed $229,900 Active 476-char remark

    Show marketing remark (476 chars)

    This rare brick 2 family home located in the heart of Watervliet sits on a triple lot with a 2 car garage. Watervliet was just voted the #8 Best Places to live for 1st time homebuyers. Perfect home for either owner occupied or investor. Each unit features 2BR/1 bath, office, LR, DR, enclosed back porches, hardwood floors, vinyl replacement windows, separate utilities and laundry. Exterior of home was just freshly painted. Full dry basement. Don't delay in seeing this one!

22. 2021-12-30
    soldstatus $172,000
23. 2021-12-14
    status Pending

    Show marketing remark (542 chars)

    Great location, beautiful lot! This brick 2 family sits on a fully fenced 91 x 100 lot with 2 car garage off alley. Estate sale, needs some updating but well cared for over the years, sold AS IS, no VA/FHA. Hardwood floors, vinyl replacement windows, enclosed rear porches, full basement, separate gas and electric meters. Back and side yard provides for outdoor space for each tenant. Each unit has 2 bedrooms plus a small office. Fireplaces are decorative only. Good owner occupant property, rare to find a lot this size AND a 2 car garage.

24. 2021-10-02
    status Pend (Under Cntr)

    Show marketing remark (542 chars)

    Great location, beautiful lot! This brick 2 family sits on a fully fenced 91 x 100 lot with 2 car garage off alley. Estate sale, needs some updating but well cared for over the years, sold AS IS, no VA/FHA. Hardwood floors, vinyl replacement windows, enclosed rear porches, full basement, separate gas and electric meters. Back and side yard provides for outdoor space for each tenant. Each unit has 2 bedrooms plus a small office. Fireplaces are decorative only. Good owner occupant property, rare to find a lot this size AND a 2 car garage.

25. 2021-09-30
    listed $170,000 New

    Show marketing remark (542 chars)

    Great location, beautiful lot! This brick 2 family sits on a fully fenced 91 x 100 lot with 2 car garage off alley. Estate sale, needs some updating but well cared for over the years, sold AS IS, no VA/FHA. Hardwood floors, vinyl replacement windows, enclosed rear porches, full basement, separate gas and electric meters. Back and side yard provides for outdoor space for each tenant. Each unit has 2 bedrooms plus a small office. Fireplaces are decorative only. Good owner occupant property, rare to find a lot this size AND a 2 car garage.

ⓘ 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: $5,492 · $458/mo
• Projected year-2 tax: $5,492 · $458/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 ≥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: $40,872
• − Mortgage interest: −$16,802
• − Property taxes: −$5,492
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,270
• − Management: −$3,270
• − Depreciation: −$8,726
• Taxable income: $1,813
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $5,987/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

+76.4% since first listed

11 events — show timeline

• 2026-05-29 Relisted — Global MLS
• 2026-05-07 Pending — Global MLS
• 2026-04-28 Listed $299,950 Global MLS
• 2023-10-26 Sold (Public Records) $240,000 Public Records
• 2023-10-19 Sold (MLS) $240,000 Global MLS
• 2023-09-11 Pending — Global MLS
• 2023-09-05 Listed $229,900 Global MLS
• 2021-12-30 Sold (Public Records) $172,000 Public Records
• 2021-12-14 Pending — Global MLS
• 2021-10-02 Pending — Global MLS
• 2021-09-30 Listed $170,000 Global MLS

Property tax history

+5.7%/yr

Latest (2025): $5,492 · -15.0% YoY. Source: county tax records.