1010 24th St · Watervliet, NY 12189

$320,000

6 bd · 2.0 ba · 3,480 sqft · MultiFamily public records · 136 Days on market

Built 1920 3,920 sqft lot $92/sqft · 20% below area Est $399k · 20% under

---

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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.8/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Wonderful Duplex in the heart of watervliet's desirable neighborhood. Ideal for investors seeking rental income to add to your portfolio. Conveniently located just minutes from downtown Albany, Hudson River waterfront, I-787 & Route 32. Near public transportation, parks, and restaurants. Property is sold 'as is'

Key facts

• Near restaurants
• Near parks
• Duplex

Tags

• DUPLEX
• MINUTES FROM DOWNTOWN ALBANY
• HUDSON RIVER WATERFRONT
• NEAR PUBLIC TRANSPORTATION
• NEAR PARKS
• NEAR RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $961 ($12k/yr) — positive. Per door: $480/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,107/mo this rent would consume 76% 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 $10k 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 $90k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $185k; list at $320k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $281,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.28% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.86%
• DSCR: 1.57
• GRM: 6.5

CMA / ARV

• ARV (median comp): $398,648
• List price: $320,000
• Delta: -19.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
902 24th St	0.10mi	5/2.0 (-1)	3,118 (-10%)	3mo	$350,000	$112	70
1526 6th Ave	0.55mi	7/2.0 (+1)	3,485 (+0%)	11mo	$236,000	$68	60
512 16th St	0.49mi	7/2.5 (+1)	3,100 (-11%)	3mo	$287,500	$93	50
1517 6th Ave	0.55mi	7/2.0 (+1)	3,324 (-4%)	19mo	$267,000	$80	46
311 16th St	0.57mi	5/3.0 (-1)	3,172 (-9%)	16mo	$306,500	$97	36

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: 6.8%
• Equity multiple: 1.28×
• Total profit: $24,888
• Equity at exit: $47,713

10-year hold

• IRR: 19.2%
• Equity multiple: 2.89×
• Total profit: $169,208
• Equity at exit: $27,668

Cash invested: $89,600 (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 →

ZIP-level market 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $4,107 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$473 /mo · $5,671/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$862
• Net cashflow: $961

Break-even live

Break-even rent $2,891

Max offer price $320,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,108
Total (2 units)			$4,107

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   status $320,000 Pending 136 DOM
2. 2026-06-18
   days on market $320,000 Contingent 136 DOM
3. 2026-06-17
   days on market $320,000 Contingent 135 DOM
4. 2026-06-16
   days on market $320,000 Contingent 134 DOM
5. 2026-06-15
   days on market $320,000 Contingent 133 DOM
6. 2026-06-14
   days on market $320,000 Contingent 131 DOM
7. 2026-06-10
   days on market $320,000 Contingent 128 DOM
8. 2026-06-09
   days on market $320,000 Contingent 127 DOM
9. 2026-06-08
   days on market $320,000 Contingent 126 DOM
10. 2026-06-07
    days on market $320,000 Contingent 125 DOM
11. 2026-06-05
    days on market $320,000 Contingent 122 DOM
12. 2026-06-03
    days on market $320,000 Contingent 121 DOM
13. 2026-06-02
    days on market $320,000 Contingent 120 DOM
14. 2026-06-01
    days on market $320,000 Contingent 119 DOM
15. 2026-05-31
    days on market $320,000 Contingent 118 DOM
16. 2026-05-31
    days on market $320,000 Contingent 117 DOM
17. 2026-05-18
    historical Contingent 317-char remark

    Show marketing remark (317 chars)

    Wonderful Duplex in the heart of watervliet's desirable neighborhood. Ideal for investors seeking rental income to add to your portfolio. Conveniently located just minutes from downtown Albany, Hudson River waterfront, I-787 & Route 32. Near public transportation, parks, and restaurants. Property is sold 'as is'

18. 2026-03-30
    status Active 317-char remark

    Show marketing remark (317 chars)

    Wonderful Duplex in the heart of watervliet's desirable neighborhood. Ideal for investors seeking rental income to add to your portfolio. Conveniently located just minutes from downtown Albany, Hudson River waterfront, I-787 & Route 32. Near public transportation, parks, and restaurants. Property is sold 'as is'

19. 2026-02-09
    historical 317-char remark

    Show marketing remark (317 chars)

    Wonderful Duplex in the heart of watervliet's desirable neighborhood. Ideal for investors seeking rental income to add to your portfolio. Conveniently located just minutes from downtown Albany, Hudson River waterfront, I-787 & Route 32. Near public transportation, parks, and restaurants. Property is sold 'as is'

20. 2025-12-15
    listed $320,000 Active 317-char remark

    Show marketing remark (317 chars)

    Wonderful Duplex in the heart of watervliet's desirable neighborhood. Ideal for investors seeking rental income to add to your portfolio. Conveniently located just minutes from downtown Albany, Hudson River waterfront, I-787 & Route 32. Near public transportation, parks, and restaurants. Property is sold 'as is'

21. 2021-08-05
    soldstatus $185,000
22. 2021-02-01
    soldstatus $135,000 Closed (Final Sale) 17-char remark

    Show marketing remark (17 chars)

    Sold Before Print

23. 2021-02-01
    listed $135,000 17-char remark

    Show marketing remark (17 chars)

    Sold Before Print

24. 2021-02-01
    historical 17-char remark

    Show marketing remark (17 chars)

    Sold Before Print

25. 2003-06-03
    soldstatus $84,800
26. 2003-04-18
    soldstatus $84,800
27. 2003-02-16
    historical
28. 2003-01-20
    listed $80,000

ⓘ 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: $5,671 · $473/mo
• Projected year-2 tax: $5,671 · $473/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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: $49,284
• − Mortgage interest: −$17,925
• − Property taxes: −$5,671
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,943
• − Management: −$3,943
• − Depreciation: −$9,309
• Taxable income: $6,894
• Est. tax owed @ 24.0%: −$1,655
• After-tax cash flow: $9,872/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

+300.0% since first listed

12 events — show timeline

• 2026-05-18 Contingent — Global MLS
• 2026-03-30 Relisted — Global MLS
• 2026-02-09 Listing Removed — Global MLS
• 2025-12-15 Listed $320,000 Global MLS
• 2021-08-05 Sold (Public Records) $185,000 Public Records
• 2021-02-01 Listing Removed — Global MLS
• 2021-02-01 Listed $135,000 Global MLS
• 2021-02-01 Sold (MLS) $135,000 Global MLS
• 2003-06-03 Sold (Public Records) $84,800 Public Records
• 2003-04-18 Sold (MLS) $84,800 Global MLS
• 2003-02-16 Listing Removed — Global MLS
• 2003-01-20 Listed $80,000 Global MLS

Property tax history

+2.5%/yr

Latest (2025): $5,671 · +2.8% YoY. Source: county tax records.