145 Quail St · Albany, NY 12206

$375,000

12 bd · 2.0 ba · 2,184 sqft · MultiFamily · 230 Days on market

Built 1915 2,178 sqft lot $172/sqft · 11% below area Est $423k · 11% 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 +12.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime SRO Investment Opportunity Discover a high-performing, fully occupied Single Room Occupancy (SRO) property in the heart of Albany's rental corridor. This 12-room, 11-unit building includes one self-contained studio with a private kitchen and ten additional rooms sharing a common kitchen—ideal for maximizing rental income while minimizing overhead. Consistent Cash Flow This property has a proven track record of full occupancy and strong returns, making it a turnkey investment for seasoned landlords or new investors seeking reliable passive income. Unbeatable Location Situated just steps from major bus lines, tenants enjoy seamless access to public transportation—perfect for students, healthcare workers, and professionals. Academic & Medical Hub Minutes from SUNY Albany, Albany Medical Center, Albany Law School, and other local universities and hospitals, this location attracts long-term tenants seeking affordability and convenience. Key Features • 11 rentable units across 12 rooms • One studio with private kitchen • Shared kitchen for remaining units • Always rented, high demand • Walkable to transit, schools, and healthcare Whether you're expanding your portfolio or entering the multifamily market, 145 Quail St offers the rare combination of location, stability, and income. Schedule a showing today and see why this property never stays vacant.

Key facts

• Shared kitchen
• Private kitchen
• Academic hub

Tags

• PRIVATE KITCHEN
• SHARED KITCHEN
• WALKABLE TO TRANSIT
• ACADEMIC HUB
• MEDICAL HUB

What this means for you Summary

Snapshot

• This is a 12-bed/2.0-bath multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $9k ($105k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $375k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.2% vs local median 5.7% in Albany — 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 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.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $14,325/mo this rent would consume 414% of the median local household income ($42k/yr) (locally 2035% 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 $3k of loan paydown is wiped out by about $11k 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 + 5.4% rent growth), your $105k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $330,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 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 1915 — 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. 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 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: 3.82% ✓
• Cap rate: 34.21%
• Cash-on-cash: 99.72%
• DSCR: 5.44
• GRM: 2.2

CMA / ARV

• ARV (median comp): $422,982
• List price: $375,000
• Delta: -11.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
661 State St	0.11mi	12/2.0	2,420 (+11%)	21mo	$58,000	$24	60

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.05×
• Total profit: $530,130
• Equity at exit: $55,914

10-year hold

• IRR: —
• Equity multiple: 13.65×
• Total profit: $1,328,701
• Equity at exit: $32,423

Cash invested: $105,000 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 24.0×

Monthly cashflow live

• Estimated rent: $14,325 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,008
• Net cashflow: $8,725

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 34%

Sensitivity live

Price	-10% $8,984	-5% $8,855	+0% $8,725	+5% $8,596	+10% $8,466
Rent	-10% $7,594	-5% $8,159	+0% $8,725	+5% $9,291	+10% $9,857
Rate	-1.0pp $8,914	-0.5pp $8,821	base $8,725	+0.5pp $8,628	+1.0pp $8,529

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

Units	Beds	Baths	Est. rent
▸ 11× units	1	1	$14,322
Total (11 units)			$14,325

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $375,000 Active 230 DOM
2. 2026-06-17
   days on market $375,000 Active 229 DOM
3. 2026-06-16
   days on market $375,000 Active 228 DOM
4. 2026-06-15
   days on market $375,000 Active 227 DOM
5. 2026-06-14
   days on market $375,000 Active 225 DOM
6. 2026-06-10
   days on market $375,000 Active 222 DOM
7. 2026-06-08
   days on market $375,000 Active 220 DOM
8. 2026-06-07
   days on market $375,000 Active 219 DOM
9. 2026-06-03
   days on market $375,000 Active 215 DOM
10. 2026-06-02
    days on market $375,000 Active 214 DOM
11. 2026-06-01
    days on market $375,000 Active 213 DOM
12. 2026-05-31
    days on market $375,000 Active 212 DOM
13. 2026-05-31
    days on market $375,000 Active 211 DOM
14. 2025-10-31
    listed $375,000 Active 1439-char remark

    Show marketing remark (1439 chars)

    Prime SRO Investment Opportunity Discover a high-performing, fully occupied Single Room Occupancy (SRO) property in the heart of Albany's rental corridor. This 12-room, 11-unit building includes one self-contained studio with a private kitchen and ten additional rooms sharing a common kitchen—ideal for maximizing rental income while minimizing overhead. Consistent Cash Flow This property has a proven track record of full occupancy and strong returns, making it a turnkey investment for seasoned landlords or new investors seeking reliable passive income. Unbeatable Location Situated just steps from major bus lines, tenants enjoy seamless access to public transportation—perfect for students, healthcare workers, and professionals. Academic & Medical Hub Minutes from SUNY Albany, Albany Medical Center, Albany Law School, and other local universities and hospitals, this location attracts long-term tenants seeking affordability and convenience. Key Features • 11 rentable units across 12 rooms • One studio with private kitchen • Shared kitchen for remaining units • Always rented, high demand • Walkable to transit, schools, and healthcare Whether you're expanding your portfolio or entering the multifamily market, 145 Quail St offers the rare combination of location, stability, and income. Schedule a showing today and see why this property never stays vacant.

15. 2022-02-21
    status Pending 374-char remark

    Show marketing remark (374 chars)

    12-unit high cash flow property. Always rented! Ramp up your rental portfolio fast! Excellent buy for the growing real estate investor. The building has 12 rental rooms inc 1 studio style apt w/ kitchen, all single occupancy. Owner provides all utilities. Low maintenance costs! New vinyl siding & vinyl shakes. Offered at an astounding 16% cap rate. Very Good Condition

16. 2022-01-26
    listed $224,900 Active 374-char remark

    Show marketing remark (374 chars)

    12-unit high cash flow property. Always rented! Ramp up your rental portfolio fast! Excellent buy for the growing real estate investor. The building has 12 rental rooms inc 1 studio style apt w/ kitchen, all single occupancy. Owner provides all utilities. Low maintenance costs! New vinyl siding & vinyl shakes. Offered at an astounding 16% cap rate. Very Good Condition

17. 2021-12-29
    historical
18. 2021-11-06
    price $224,900
19. 2021-10-08
    price $234,900
20. 2021-02-08
    price $239,900
21. 2021-01-09
    status Extended
22. 2020-12-31
    historical
23. 2020-09-17
    listed $244,900 New
24. 2020-09-08
    historical
25. 2020-08-21
    price $269,900
26. 2020-07-31
    price $284,900
27. 2020-07-17
    listed $299,000 New

ⓘ 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 ≥97°F today · 17 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: $171,900
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$13,752
• − Management: −$13,752
• − Depreciation: −$10,909
• Taxable income: $104,981
• Est. tax owed @ 24.0%: −$25,195
• After-tax cash flow: $79,507/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: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 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

• Census place: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+25.4% since first listed

14 events — show timeline

• 2025-10-31 Listed $375,000 Global MLS
• 2022-02-21 Pending — Global MLS
• 2022-01-26 Listed $224,900 Global MLS
• 2021-12-29 Listing Removed — Global MLS
• 2021-11-06 Price Changed $224,900 Global MLS
• 2021-10-08 Price Changed $234,900 Global MLS
• 2021-02-08 Price Changed $239,900 Global MLS
• 2021-01-09 Relisted — Global MLS
• 2020-12-31 Listing Removed — Global MLS
• 2020-09-17 Listed $244,900 Global MLS
• 2020-09-08 Listing Removed — Global MLS
• 2020-08-21 Price Changed $269,900 Global MLS
• 2020-07-31 Price Changed $284,900 Global MLS
• 2020-07-17 Listed $299,000 Global MLS