915 Mcclyman St · Schenectady, NY 12307

$280,000

4 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 266 Days on market

Built 1900 1,742 sqft lot $139/sqft · at area comps Est $295k · at est.

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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 +19.8/30.0
• Appreciation +10.0/10.0
• ARV discount +9.7/15.0
• DSCR +6.3/10.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover a prime investment opportunity in the heart of Schenectady. This property features two-bedroom, one-bath each unit, ideal for first-time homebuyers or investors seeking to expand their portfolio. Located close to downtown Schenectady within the reputable Schenectady School District. Don't miss out on this great investment opportunity.

Key facts

• 1,742 sq ft lot
• Built 1900
• Listed 266 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 6.3% in Schenectady — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: schools C-, employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 33 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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 $118k; list at $280k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $246,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 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 1900 — 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: 1.04% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• GRM: 8.0

CMA / ARV

• ARV (median comp): $294,535
• List price: $280,000
• Delta: -4.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
84 N Brandywine Ave	0.37mi	4/2.0	2,000 (-1%)	14mo	$165,000	$83	70
634 Hamilton St	0.55mi	5/2.0 (+1)	2,024 (+0%)	0mo	$210,000	$104	68
37 Swan St	0.28mi	4/2.0	1,768 (-12%)	6mo	$240,000	$136	61
1435 Van Cortland St	0.67mi	4/2.0	1,936 (-4%)	6mo	$215,000	$111	57
113 Degraff St	0.63mi	4/2.0	2,172 (+8%)	4mo	$198,000	$91	54
461 Hulett St	0.49mi	5/2.0 (+1)	2,084 (+3%)	17mo	$85,000	$41	53
348 Duane Ave	0.16mi	5/2.0 (+1)	1,728 (-14%)	15mo	$190,000	$110	51
913-915 Bridge St	0.69mi	5/2.0 (+1)	2,056 (+2%)	10mo	$315,000	$153	51
12 Paulding St	0.61mi	5/2.0 (+1)	2,112 (+5%)	11mo	$190,000	$90	50
827 Strong St	0.48mi	5/2.0 (+1)	2,160 (+7%)	14mo	$235,000	$109	49
1180 Van Cortland St	0.65mi	3/2.0 (-1)	1,820 (-10%)	10mo	$222,000	$122	40
838 Holland Rd	0.61mi	4/2.0	1,734 (-14%)	15mo	$230,000	$133	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 3.22×
• Total profit: $173,935
• Equity at exit: $252,246

10-year hold

• IRR: 24.4%
• Equity multiple: 7.32×
• Total profit: $495,532
• Equity at exit: $543,978

Cash invested: $78,400 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $2,918 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$385 /mo · $4,615/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $336

Break-even live

Break-even rent $2,493

Max offer price $280,000

Occupancy floor 84%

Sensitivity live

Price	-10% $494	-5% $415	+0% $336	+5% $256	+10% $177
Rent	-10% $105	-5% $220	+0% $336	+5% $451	+10% $566
Rate	-1.0pp $477	-0.5pp $407	base $336	+0.5pp $263	+1.0pp $189

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,918
Total (2 units)			$2,918

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	44d	1	0.94mi
1346 10th Ave Schenectady, NY	4.0	2.0	2350	$2,499	$1.06	15d	1	1.09mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	44d	1	1.30mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	24d	1	1.34mi

Listing history 36 events

1. 2026-06-18
   days on market $280,000 Active 266 DOM
2. 2026-06-17
   days on market $280,000 Active 265 DOM
3. 2026-06-16
   days on market $280,000 Active 264 DOM
4. 2026-06-15
   days on market $280,000 Active 263 DOM
5. 2026-06-14
   days on market $280,000 Active 261 DOM
6. 2026-06-13
   days on market $280,000 Active 260 DOM
7. 2026-06-10
   days on market $280,000 Active 258 DOM
8. 2026-06-09
   days on market $280,000 Active 257 DOM
9. 2026-06-08
   days on market $280,000 Active 256 DOM
10. 2026-06-07
    days on market $280,000 Active 255 DOM
11. 2026-06-03
    days on market $280,000 Active 251 DOM
12. 2026-06-02
    days on market $280,000 Active 250 DOM
13. 2026-06-01
    days on market $280,000 Active 249 DOM
14. 2026-05-31
    days on market $280,000 Active 248 DOM
15. 2026-05-31
    days on market $280,000 Active 247 DOM
16. 2026-05-06
    status Active 346-char remark

    Show marketing remark (346 chars)

    Discover a prime investment opportunity in the heart of Schenectady. This property features two-bedroom, one-bath each unit, ideal for first-time homebuyers or investors seeking to expand their portfolio. Located close to downtown Schenectady within the reputable Schenectady School District. Don't miss out on this great investment opportunity.

17. 2026-04-09
    status Pending 346-char remark

    Show marketing remark (346 chars)

    Discover a prime investment opportunity in the heart of Schenectady. This property features two-bedroom, one-bath each unit, ideal for first-time homebuyers or investors seeking to expand their portfolio. Located close to downtown Schenectady within the reputable Schenectady School District. Don't miss out on this great investment opportunity.

18. 2025-08-28
    listed $280,000 Active 346-char remark

    Show marketing remark (346 chars)

    Discover a prime investment opportunity in the heart of Schenectady. This property features two-bedroom, one-bath each unit, ideal for first-time homebuyers or investors seeking to expand their portfolio. Located close to downtown Schenectady within the reputable Schenectady School District. Don't miss out on this great investment opportunity.

19. 2024-10-28
    historical $1,500
20. 2024-10-12
    listed $1,500
21. 2022-03-02
    soldstatus $118,000
22. 2019-01-14
    soldstatus $70,000
23. 2018-12-19
    soldstatus $70,000 Closed (Final Sale) 179-char remark

    Show marketing remark (179 chars)

    Solid brick house in good condition. Rents could be higher but good tenants. Sound investment just start collecting the rents. Mechanicals in good condition -- Very Good Condition

24. 2018-11-05
    status Pend (Under Cntr) 179-char remark

    Show marketing remark (179 chars)

    Solid brick house in good condition. Rents could be higher but good tenants. Sound investment just start collecting the rents. Mechanicals in good condition -- Very Good Condition

25. 2018-06-29
    listed $79,000 New 179-char remark

    Show marketing remark (179 chars)

    Solid brick house in good condition. Rents could be higher but good tenants. Sound investment just start collecting the rents. Mechanicals in good condition -- Very Good Condition

26. 2007-08-24
    soldstatus $42,000
27. 2007-07-19
    historical
28. 2007-06-18
    listed $48,250
29. 2007-04-24
    soldstatus $48,250
30. 2007-03-01
    historical
31. 2006-12-20
    listed $48,250
32. 2005-06-07
    soldstatus $69,148
33. 2005-05-31
    soldstatus $64,999
34. 2005-03-22
    historical
35. 2004-12-08
    listed $69,900
36. 2001-06-27
    soldstatus $15,000

ⓘ 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: $4,615 · $385/mo
• Projected year-2 tax: $4,674 · $389/mo
• Expected delta: +$58/yr (+$5/mo · 1.3%)

ⓘ 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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $35,016
• − Mortgage interest: −$15,684
• − Property taxes: −$4,615
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,801
• − Management: −$2,801
• − Depreciation: −$8,145
• Taxable loss: −$432
• Est. tax savings @ 24.0%: +$104
• After-tax cash flow: $4,131/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: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

Amenities B- Commute A+ Cost of living A Crime F Employment D+ Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• City population: 141,369
• Population (ZIP): 7,977

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.60%
• Current HPI: 398.0252
• Rent YoY: —
• Metro: —
• 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

+1766.7% since first listed

21 events — show timeline

• 2026-05-06 Relisted — Global MLS
• 2026-04-09 Pending — Global MLS
• 2025-08-28 Listed $280,000 Global MLS
• 2024-10-28 Rental Removed $1,500 GLOBALMLS
• 2024-10-12 Listed for Rent $1,500 GLOBALMLS
• 2022-03-02 Sold (Public Records) $118,000 Public Records
• 2019-01-14 Sold (Public Records) $70,000 Public Records
• 2018-12-19 Sold (MLS) $70,000 Global MLS
• 2018-11-05 Pending — Global MLS
• 2018-06-29 Listed $79,000 Global MLS
• 2007-08-24 Sold (MLS) $42,000 Global MLS
• 2007-07-19 Listing Removed — Global MLS
• 2007-06-18 Listed $48,250 Global MLS
• 2007-04-24 Sold (MLS) $48,250 Global MLS
• 2007-03-01 Listing Removed — Global MLS
• 2006-12-20 Listed $48,250 Global MLS
• 2005-06-07 Sold (Public Records) $69,148 Public Records
• 2005-05-31 Sold (MLS) $64,999 Global MLS
• 2005-03-22 Listing Removed — Global MLS
• 2004-12-08 Listed $69,900 Global MLS
• 2001-06-27 Sold (Public Records) $15,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $4,615 · +4.2% YoY. Source: county tax records.