236 Quail St · Albany, NY 12203

$245,000

5 bd · 2.0 ba · 2,124 sqft · MultiFamily public records · 62 Days on market

Built 1915 Fair condition 2,613 sqft lot $115/sqft · 36% below area Est $386k · 36% 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.0/5.0
• Condition / age +2.8/5.0
• 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

Looking for your next investment? This duplex will be a great addition. This 2 family house is right near the bus line and 5-10 minutes away from Colonie center with the college nearby. You could not ask for a better location. Currently both units are rented and the tenants pay their own utilities.

Key facts

• 2 family house
• Rented units
• Nearby college

Tags

• DUPLEX
• 2 FAMILY HOUSE
• BUS LINE
• NEARBY COLLEGE
• RENTED UNITS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $245k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive. Per door: $426/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 6.0% 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 (+1.9%/yr); 172 active listings in the ZIP; solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 1.9% rent growth), your $69k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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 $178k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.42% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 5.9

CMA / ARV

• ARV (median comp): $385,673
• List price: $245,000
• Delta: -36.47%
• 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
676 Providence St	0.49mi	5/2.0	2,118 (-0%)	4mo	$250,000	$118	73
637 Myrtle Ave	0.25mi	6/2.0 (+1)	2,296 (+8%)	1mo	$315,000	$137	69
500 Washington Ave	0.28mi	6/2.0 (+1)	1,920 (-10%)	1mo	$255,000	$133	65
538 Myrtle Ave	0.27mi	5/5.0	2,216 (+4%)	4mo	$410,000	$185	65
380-382 Morris St	0.21mi	6/2.0 (+1)	2,344 (+10%)	5mo	$300,000	$128	64
27 N Lake Ave	0.27mi	6/2.0 (+1)	2,364 (+11%)	0mo	$321,000	$136	63
613 Providence St	0.48mi	5/2.0	2,344 (+10%)	1mo	$420,000	$179	60
184 Quail St	0.16mi	6/3.0 (+1)	1,853 (-13%)	6mo	$231,000	$125	57
69 Dana Ave	0.60mi	6/2.0 (+1)	1,938 (-9%)	0mo	$260,000	$134	52
24 Kent St	0.44mi	6/2.0 (+1)	2,364 (+11%)	6mo	$210,000	$89	51
184 N Lake Ave	0.74mi	6/2.0 (+1)	1,974 (-7%)	3mo	$195,000	$99	46
446 1st St	0.64mi	6/2.0 (+1)	1,848 (-13%)	3mo	$160,000	$87	41

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $10,751
• Equity at exit: $36,530

10-year hold

• IRR: 12.5%
• Equity multiple: 1.93×
• Total profit: $64,007
• Equity at exit: $21,183

Cash invested: $68,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 26 active · 47 under contract
• Months of supply: 4.9 mo (21%/mo absorbed)
• Median asking: $282,500 ($140/sqft)
• Median days on market: 70 d
• This list price: 23% of active listings are priced below it
• ARV vs active asking: +29.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 172
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,467 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$500 /mo · $6,004/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $852

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,468
Total (2 units)			$3,467

Break-even live

Break-even rent $2,389

Max offer price $245,000

Occupancy floor 70%

Sensitivity live

Price	-10% $990	-5% $921	+0% $852	+5% $782	+10% $713
Rent	-10% $578	-5% $715	+0% $852	+5% $989	+10% $1,126
Rate	-1.0pp $975	-0.5pp $914	base $852	+0.5pp $788	+1.0pp $724

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: $61,250
• Closing costs: $7,350
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 Hamilton St Unit 1 Albany, NY	1.0	1.0	—	$1,250	—	16d	1	0.04mi
461 Hamilton St Unit 2 Albany, NY	3.0	1.0	—	$1,800	—	16d	1	0.06mi
452A Hudson Ave #1 Albany, NY	2.0	1.0	—	$1,400	—	70d	1	0.06mi
452A Hudson Ave Unit 2 Albany, NY	3.0	1.0	—	$1,600	—	70d	1	0.06mi
800 Madison Ave Albany, NY	1.0	1.0	—	$1,550	—	16d	1	0.09mi
811 Madison Ave Apt 6 Albany, NY	3.0	2.0	—	$1,950	—	93d	1	0.10mi
811 Madison Ave Apt 5 Albany, NY	3.0	2.0	750	$1,950	$2.60	16d	1	0.10mi
476 Hudson Ave Unit 3 Albany, NY	3.0	2.0	—	$1,650	—	16d	1	0.10mi
56 Elberon Pl Albany, NY	3.0	1.0	—	$1,575	—	93d	1	0.10mi
488 Hamilton St Unit 2 Albany, NY	3.0	1.0	—	$1,900	—	16d	1	0.10mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	63d	1	0.11mi
489 Hamilton St Unit 2 Albany, NY	3.0	1.0	1100	$1,800	$1.64	16d	1	0.11mi
51 Elberon Pl Albany, NY	3.0	1.0	—	$1,650	—	93d	1	0.13mi
47 Elberon Pl Apt 2 Albany, NY	3.0	1.0	—	$1,650	—	93d	1	0.13mi
43 Elberon Pl Albany, NY	3.0	1.0	—	$1,650	—	93d	1	0.13mi
45 Elberon Pl #1 Albany, NY	3.0	1.0	—	$1,650	—	93d	1	0.13mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	72d	1	0.13mi
19 Elberon Pl Albany, NY	2.0	1.0	—	$1,350	—	93d	1	0.14mi
385 Morris St Albany, NY	1.0	1.0	—	$1,125	—	93d	1	0.14mi
3 Elberon Pl Unit 1 Albany, NY	3.0	1.0	—	$1,450	—	93d	1	0.16mi
445 Morris St Albany, NY	3.0	1.0	1300	$1,905	$1.47	16d	1	0.16mi
373 Morris St Albany, NY	1.0	1.0	—	$325	—	16d	1	0.16mi
219 Western Ave Unit 2 Albany, NY	2.0	1.0	775	$1,500	$1.94	16d	1	0.17mi
4749 S Lake Ave STUYVSNT PLZ, NY	1.0	1.0	750	$1,575	$2.10	16d	1	0.17mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$2,000	$1.82	16d	1	0.17mi
180 Western Ave Unit 2nd Floor Albany, NY	2.0	1.0	1000	$1,575	$1.57	93d	1	0.17mi
180 Western Ave Unit 1st Floor Albany, NY	2.0	1.0	900	$1,550	$1.72	93d	1	0.17mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	63d	1	0.18mi
39 S Lake Ave Unit 1 Albany, NY	1.0	1.0	900	$1,600	$1.78	93d	1	0.18mi
39 S Lake Ave Albany, NY	1.0	1.0	900	$1,350	$1.50	16d	1	0.18mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	72d	1	0.20mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	72d	1	0.20mi
184 Quail St Albany, NY	3.0	1.0	618	$1,600	$2.59	93d	1	0.20mi
152 Western Ave Unit 3R Albany, NY	1.0	1.0	675	$1,195	$1.77	63d	1	0.20mi
559 Myrtle Ave Unit 1ST Albany, NY	1.0	1.0	—	$975	—	93d	1	0.20mi
864 Madison Ave Albany, NY	3.0	1.0	—	$1,350	—	16d	1	0.21mi
152 Western Ave Unit 1 Albany, NY	3.0	1.0	1100	$2,000	$1.82	16d	1	0.21mi
520 Hamilton St Unit 7 Albany, NY	1.0	1.0	—	$1,100	—	16d	1	0.21mi
541 Myrtle Ave Unit 1A Albany, NY	2.0	1.0	—	$1,850	—	93d	1	0.22mi
690 State St Unit 1 Albany, NY	3.0	1.0	1100	$1,500	$1.36	16d	1	0.24mi

Listing history 21 events

1. 2026-04-23
   price $245,000 299-char remark

   Show marketing remark (299 chars)

   Looking for your next investment? This duplex will be a great addition. This 2 family house is right near the bus line and 5-10 minutes away from Colonie center with the college nearby. You could not ask for a better location. Currently both units are rented and the tenants pay their own utilities.

2. 2026-03-28
   listed $250,000 Active 299-char remark

   Show marketing remark (299 chars)

   Looking for your next investment? This duplex will be a great addition. This 2 family house is right near the bus line and 5-10 minutes away from Colonie center with the college nearby. You could not ask for a better location. Currently both units are rented and the tenants pay their own utilities.

3. 2025-09-06
   historical
4. 2025-07-27
   listed $239,000 Active
5. 2025-05-25
   historical
6. 2025-03-07
   listed $249,000 Active
7. 2024-04-29
   status Active
8. 2024-04-18
   status Pending
9. 2024-04-18
   historical
10. 2024-03-30
    listed $249,000 Active
11. 2019-02-22
    soldstatus $178,500
12. 2019-01-31
    soldstatus $178,380 Closed (Final Sale)
13. 2019-01-02
    status Pend (Under Cntr)
14. 2018-12-03
    listed $186,900 New
15. 2018-09-27
    historical
16. 2018-07-30
    listed $194,900 New
17. 2014-08-29
    soldstatus $165,000
18. 2014-08-25
    soldstatus $165,000
19. 2014-07-06
    historical
20. 2014-07-06
    listed $165,000
21. 2001-01-22
    soldstatus $65,600

ⓘ 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: $6,004 · $500/mo
• Projected year-2 tax: $6,004 · $500/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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $41,604
• − Mortgage interest: −$13,724
• − Property taxes: −$6,004
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,328
• − Management: −$3,328
• − Depreciation: −$7,127
• Taxable income: $6,867
• Est. tax owed @ 24.0%: −$1,648
• After-tax cash flow: $8,572/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.

Condition & rehab AI · 9 photos

Fair 55/100 Moderate rehab Est. rehab $53,100–$95,580 screening

This 2-family house requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, exterior, and landscaping.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — rooftop appears old and weathered
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior siding appears old and weathered
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — windows appear old and weathered
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — electrical panel appears old and weathered
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — plumbing fixtures appear old and weathered

Repairs flagged

• Minor Kitchen appliances — Older appliances may need replacement or repair.
• Minor Bathroom fixtures — Standard fixtures may need updating or replacement.
• Moderate Exterior siding — Siding shows wear and tear, indicating potential need for repair or replacement.
• Moderate Flooring — Hardwood flooring appears worn and may need refinishing or replacement.
• Minor Paint — Paint appears faded in some areas, indicating a need for touch-ups or repainting.
• Minor Windows — Some windows may need new hardware or weatherstripping.

Value-add opportunities

• Both Kitchen renovation — Updating the kitchen with modern appliances and fixtures can significantly increase both resale and rental value. ↑
• Both Exterior siding and paint — Refreshing the exterior with new siding and fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping — Improving the landscaping can increase curb appeal and attract more potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Philip J Schuyler Achievement Academy F NY #1,846/2,108 Nat'l #30,133/41,679 Middle North Albany Academy Middle School F NY #689/729 Nat'l #12,017/14,009 High Albany High School B+ NY #710/1,100 Nat'l #2,083/17,239

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

B Composite livability gradescore 79/100

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 · 320,794 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 2%

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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: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

+273.5% since first listed

21 events — show timeline

• 2026-04-23 Price Changed $245,000 Global MLS
• 2026-03-28 Listed $250,000 Global MLS
• 2025-09-06 Listing Removed — Global MLS
• 2025-07-27 Listed $239,000 Global MLS
• 2025-05-25 Listing Removed — Global MLS
• 2025-03-07 Listed $249,000 Global MLS
• 2024-04-29 Relisted — Global MLS
• 2024-04-18 Pending — Global MLS
• 2024-04-18 Listing Removed — Global MLS
• 2024-03-30 Listed $249,000 Global MLS
• 2019-02-22 Sold (Public Records) $178,500 Public Records
• 2019-01-31 Sold (MLS) $178,380 Global MLS
• 2019-01-02 Pending — Global MLS
• 2018-12-03 Listed $186,900 Global MLS
• 2018-09-27 Listing Removed — Global MLS
• 2018-07-30 Listed $194,900 Global MLS
• 2014-08-29 Sold (Public Records) $165,000 Public Records
• 2014-08-25 Sold (MLS) $165,000 Global MLS
• 2014-07-06 Listed $165,000 Global MLS
• 2014-07-06 Listing Removed — Global MLS
• 2001-01-22 Sold (Public Records) $65,600 Public Records

Property tax history

+1.8%/yr

Latest (2025): $6,004 · -0.8% YoY. Source: county tax records.