11 Kensington Ct Apt 4 · Albany, NY 12054

$215,000

2 bd · 1.0 ba · 1,085 sqft · Condo public records · 43 Days on market

Built 1965 $198/sqft · 10% below area Est $240k · 10% under $400/mo HOA · 17% of rent ↓ 6% since listing

---

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 +14.1/30.0
• ARV discount +12.2/15.0
• Schools +6.5/10.0
• 1% rule +5.7/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 2-bedroom condo in Kensington Court. This desirable 55+ community rarely has available units, so this is your chance! Enjoy maintenance free living, in-unit laundry, and your very own garage parking space. Conveniently located in the heart of Delmar, close to the YCMA, Four Corners, the Bike Path & the Town Park Pool. Enjoy beautiful hardwood floors and natural sunlight, and the brand new covered back porch and gorgeous landscaping. Feel the comfort of your central AC system, replacement windows and renovated bathroom. Plus, there is a secured storage room in the basement included as well!

Key facts

• $400 HOA
• Garage
• Built 1965

Property features AI

Finance

• Other: Directions: Delaware Ave in Delmar, directly across from Mad Dogs Bicycle shop.
• HOA & community: Association with a monthly fee of $400; HOA covers grounds and structure maintenance, snow removal, trash, and water

Exterior

• Parking: One-car garage; Driveway parking (total 2 parking spaces)
• Utilities: Public water; Public sewer; 100 amp electric service; Cable connected
• Home design: Condominium; Second level living areas
• Construction: Brick and drywall construction; Block foundation; Asphalt roof; Built living area approximately 1,085
• Exterior features: Rear porch; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Microwave; Oven
• Bedrooms: Primary bedroom on second level; Additional bedroom on second level
• Flooring: Tile; Hardwood
• Bathrooms: One full bathroom on second level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: High-speed internet; Storm door(s); Double-pane and insulated windows; Full unfinished basement
• Laundry & utility: Washer and dryer included; Laundry closet on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $33 ($398/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.

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.
• Bethlehem Central School District (suburban): math 70% / reading 74% proficiency, ranked #90 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Bethlehem Central Senior High School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 1,364 students, 13% FRL).
• Zoned-school proficiency averages 93% at this address vs 72% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Bethlehem Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 70 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.07% ✓
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 7.8

CMA / ARV

• ARV (median comp): $239,830
• List price: $215,000
• Delta: -10.35%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-32,513
• Equity at exit: $32,057

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-24,720
• Equity at exit: $18,589

Cash invested: $60,200 (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 12054

• Active inventory: 70
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$163 /mo · $1,951/yr
• Insurance: −$90
• HOA: −$400
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $33

Break-even live

Break-even rent $2,253

Max offer price $215,000

Occupancy floor 94%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 Dawson Rd Delmar, NY	2.0	1.5	1150	$2,600	$2.26	14d	1	0.15mi
101 Cherry Ave Delmar, NY	1.0–2.0	1.0–2.0	925	$1,769	$1.91	14d	1	0.38mi
1 Juniper Dr Delmar, NY	1.0	1.0	900	$1,875	$2.08	14d	1	0.59mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $215,000 Active 43 DOM
2. 2026-06-17
   days on market $215,000 Active 42 DOM
3. 2026-06-16
   days on market $215,000 Active 41 DOM
4. 2026-06-15
   days on market $215,000 Active 40 DOM
5. 2026-06-14
   pricedays on market $215,000 Active 38 DOM
6. 2026-06-10
   days on market $229,000 Active 35 DOM
7. 2026-06-09
   days on market $229,000 Active 34 DOM
8. 2026-06-08
   days on market $229,000 Active 33 DOM
9. 2026-06-07
   days on market $229,000 Active 32 DOM
10. 2026-06-05
    days on market $229,000 Active 29 DOM
11. 2026-06-03
    days on market $229,000 Active 28 DOM
12. 2026-06-02
    days on market $229,000 Active 27 DOM
13. 2026-06-01
    days on market $229,000 Active 26 DOM
14. 2026-05-31
    days on market $229,000 Active 25 DOM
15. 2026-05-31
    days on market $229,000 Active 24 DOM
16. 2026-05-06
    listed $229,000 Active 627-char remark

    Show marketing remark (627 chars)

    Welcome to this spacious 2-bedroom condo in Kensington Court. This desirable 55+ community rarely has available units, so this is your chance! Enjoy maintenance free living, in-unit laundry, and your very own garage parking space. Conveniently located in the heart of Delmar, close to the YCMA, Four Corners, the Bike Path & the Town Park Pool. Enjoy beautiful hardwood floors and natural sunlight, and the brand new covered back porch and gorgeous landscaping. Feel the comfort of your central AC system, replacement windows and renovated bathroom. Plus, there is a secured storage room in the basement included as well!

17. 2026-05-06
    listed $229,000 Active 625-char remark

    Show marketing remark (627 chars)

    Welcome to this spacious 2-bedroom condo in Kensington Court. This desirable 55+ community rarely has available units, so this is your chance! Enjoy maintenance free living, in-unit laundry, and your very own garage parking space. Conveniently located in the heart of Delmar, close to the YCMA, Four Corners, the Bike Path & the Town Park Pool. Enjoy beautiful hardwood floors and natural sunlight, and the brand new covered back porch and gorgeous landscaping. Feel the comfort of your central AC system, replacement windows and renovated bathroom. Plus, there is a secured storage room in the basement included as well!

ⓘ 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: $1,951 · $163/mo
• Projected year-2 tax: $2,792 · $233/mo
• Expected delta: +$841/yr (+$70/mo · 43.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $27,536
• − Mortgage interest: −$12,043
• − Property taxes: −$1,951
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − HOA: −$4,800
• − Depreciation: −$6,255
• Taxable loss: −$2,994
• Est. tax savings @ 24.0%: +$718
• After-tax cash flow: $1,116/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: Bethlehem Central School District
• NCES district ID: 3604710
• Math proficiency: 70% ▼ -8.00%
• Reading proficiency: 74% ▲ 7.00%
• Median HH income: $94,967
• Composite: 65.31/100
• National rank: #488
• State rank: #90 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

• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 17,436
• Household income: $129,583
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 410.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Other Asian/Pacific 2% German/W. Germanic 1% Other Indo-European 1%

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: ▼ -295.31%
• Current HPI: 286.6343
• Rent YoY: —
• 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

-6.1% since first listed

4 events — show timeline

• 2026-06-11 Price Changed $215,000 HVCRMLS
• 2026-06-11 Price Changed $215,000 Global MLS
• 2026-05-06 Listed $229,000 HVCRMLS
• 2026-05-06 Listed $229,000 Global MLS

Property tax history

-11.3%/yr

Latest (2024): $1,951 · +0.0% YoY. Source: county tax records.