3 W Meadow Dr · Albany, NY 12203

$354,800

3 bd · 1.5 ba · 1,920 sqft · SingleFamily public records · 6 Days on market

Built 1983 0.27 ac lot Est $372k · at est.

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +9.6/15.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3 West Meadow Drive in Albany, a superbly maintained Colonial style home lovingly cared for by original owners. This charming 3-bedroom, 1.5-bath home boasts approximately 1,920 square feet of living space on a generous 0.27-acre lot. The home features a functional kitchen, spacious rooms, and 1.5 bathrooms. This property sits in a calm, low-traffic area with a ''silent zone'' feel while being just minutes from shopping, dining, parks, and highways. Don't miss the chance to view this home- schedule your private showing today. Multiple offers received. Final and Best due Tuesday 4/21 at 2pm

Key facts

• Functional kitchen
• Colonial style home
• Low-traffic area

Tags

• COLONIAL STYLE HOME
• FUNCTIONAL KITCHEN
• LOW-TRAFFIC AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-8 ($-101/yr) — negative.
• To cash-flow at today's rent, offer at most $353k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (19.7% below list).
• Recommended offer: $285k (19.7% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.9%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 41% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $284,993 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $372,480
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Pitch Pine Rd	0.18mi	4/2.5 (+1)	1,828 (-5%)	17mo	$320,000	$175	60
11 Woodridge St	0.67mi	3/2.0	1,936 (+1%)	6mo	$375,000	$194	60
26 W Meadow Dr	0.16mi	3/3.0	2,116 (+10%)	19mo	$430,000	$203	54
43 Northgate Dr	0.58mi	4/2.0 (+1)	1,810 (-6%)	9mo	$450,000	$249	48
19 North Gate Dr	0.72mi	4/2.5 (+1)	1,936 (+1%)	17mo	$350,000	$181	42
3 Woodridge St	0.64mi	4/2.0 (+1)	1,810 (-6%)	18mo	$310,000	$171	38
5 Velina Dr	0.72mi	3/3.5	1,948 (+2%)	23mo	$410,000	$210	37

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-61,363
• Equity at exit: $52,902

10-year hold

• IRR: -12.0%
• Equity multiple: 0.32×
• Total profit: $-67,500
• Equity at exit: $30,677

Cash invested: $99,344 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 124
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,850 medium
• Mortgage (P&I): −$1,861
• Tax from tax record: −$251 /mo · $3,017/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $-8

Break-even live

Break-even rent $2,861

Max offer price $353,317

Occupancy floor 95%

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: $88,700
• Closing costs: $10,644
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Knollwood Ter Unit 120 Albany, NY	4.0	2.5	1575	$2,900	$1.84	14d	1	0.65mi
120 Knollwood Ter Unit 120 Albany, NY	4.0	2.5	1575	$2,900	$1.84	23d	1	0.65mi
1000 Apex Ln Albany, NY	1.0–3.0	1.0–2.0	1525	$4,175	$2.74	14d	29	0.99mi
1700 Western Ave Albany, NY	1.0–2.0	1.0–2.0	1438	$2,500	$1.74	14d	1	1.41mi

Listing history 2 events

1. 2026-04-22
   status Pending
2. 2026-04-16
   listed $354,800 Active

ⓘ 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: $3,017 · $251/mo
• Projected year-2 tax: $4,506 · $376/mo
• Expected delta: +$1,490/yr (+$124/mo · 49.4%)

ⓘ 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 ≥96°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: $34,199
• − Mortgage interest: −$19,874
• − Property taxes: −$3,017
• − Insurance: −$1,774
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − Depreciation: −$10,321
• Taxable loss: −$6,259
• Est. tax savings @ 24.0%: +$1,502
• After-tax cash flow: $1,401/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): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

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 (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%

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

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

2 events — show timeline

• 2026-04-22 Pending — Global MLS
• 2026-04-16 Listed $354,800 Global MLS

Property tax history

-6.6%/yr

Latest (2025): $3,017 · +3.0% YoY. Source: county tax records.