1512 Broadway · Rensselaer, NY 12144

$219,900

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 27 Days on market

Built 1890 3,049 sqft lot Est $202k · 9% over

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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 +15.6/30.0
• DSCR +4.8/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• ARV discount +3.6/15.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold Before Print

Key facts

• 3,049 sq ft lot
• 3 parking spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (10.4% below list).
• Recommended offer: $197k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.0% in Rensselaer — 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 77/100 on livability (#191 in NY, #2,967 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D+.
• Rensselaer City School District (suburban): math 28% / reading 34% proficiency, ranked #574 of 590 in NY (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Van Rensselaer Elementary School (math 15% / reading 36%, grade F, #1,821 of 2,108 statewide, top 86%, 493 students, 70% FRL); Rensselaer Junior/Senior High School (math 42% / reading 22%, grade F, #1,079 of 1,100 statewide, top 98%, 522 students, 66% FRL).
• Market conditions: Rents flat; 102 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 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.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $105k; list at $220k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,000 (10.4% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.90% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.81%
• DSCR: 1.08
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $202,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1512 Broadway	0.00mi	3/1.0	1,272 (0%)	1mo	$215,000	$169	99
1484 3rd St	0.16mi	2/1.5 (-1)	1,322 (+4%)	2mo	$125,000	$95	77
1517 5th St	0.23mi	2/1.0 (-1)	1,299 (+2%)	11mo	$192,000	$148	72
35 Pine St	0.37mi	3/1.0	1,205 (-5%)	9mo	$259,900	$216	67
1015 1st St	0.49mi	3/1.5	1,240 (-2%)	10mo	$175,000	$141	63
1212 3rd St	0.38mi	3/1.0	1,114 (-12%)	6mo	$113,000	$101	57
1912 8th St	0.52mi	4/1.5 (+1)	1,181 (-7%)	4mo	$301,500	$255	54
941 6th St St	0.60mi	3/1.5	1,380 (+8%)	4mo	$157,000	$114	52
1822 7th St	0.46mi	3/1.0	1,097 (-14%)	6mo	$219,900	$200	50
92 Central Ave	0.31mi	4/2.0 (+1)	1,426 (+12%)	10mo	$272,000	$191	48
1046 1st St	0.45mi	2/2.0 (-1)	1,130 (-11%)	8mo	$180,000	$159	45
831 7th St	0.71mi	2/2.0 (-1)	1,200 (-6%)	7mo	$189,000	$158	43

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 · 0.9% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.45×
• Total profit: $-33,815
• Equity at exit: $32,788

10-year hold

• IRR: -11.3%
• Equity multiple: 0.38×
• Total profit: $-37,907
• Equity at exit: $19,013

Cash invested: $61,572 (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 12144

• Home prices YoY: -33.4%
• Rents YoY: 0.9%
• Active inventory: 102
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $93

Break-even live

Break-even rent $1,853

Max offer price $219,900

Occupancy floor 90%

Sensitivity live

Price	-10% $217	-5% $155	+0% $93	+5% $30	+10% $-32
Rent	-10% $-63	-5% $15	+0% $93	+5% $170	+10% $248
Rate	-1.0pp $203	-0.5pp $149	base $93	+0.5pp $36	+1.0pp $-22

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1444 2nd St Unit 2 Rensselaer, NY	4.0	1.0	950	$1,900	$2.00	45d	1	0.13mi
1311 Broadway Rensselaer, NY	2.0	1.0	1014	$1,650	$1.63	16d	1	0.26mi
1307 Broadway Rensselaer, NY	2.0	1.0	1014	$1,650	$1.63	16d	1	0.26mi
1047 Broadway Rensselaer, NY	2.0	1.0	1014	$1,650	$1.63	16d	1	0.44mi
945 Broadway Rensselaer, NY	3.0	1.0	1200	$1,650	$1.38	25d	1	0.50mi
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	21d	1	0.56mi
883 Broadway Apt 103 Albany, NY	2.0	1.0	1155	$1,785	$1.55	25d	1	0.63mi
883 Broadway Apt 201 Albany, NY	2.0	1.0	980	$1,450	$1.48	25d	1	0.63mi
100 New Broadway Rensselaer, NY	2.0	2.0	1248	$2,212	$1.77	16d	2	0.77mi
99 New Broadway Rensselaer, NY	2.0	1.0–2.0	946	$2,495	$2.64	16d	5	0.79mi
9 St Josephs Ter Albany, NY	3.0	2.0	1000	$1,850	$1.85	45d	1	0.89mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	45d	1	0.90mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	16d	17	0.90mi
7 Elm Ct Rensselaer, NY	1.0–2.0	1.0–2.0	829	$1,830	$2.21	16d	1	1.13mi
33 Centre St Apt 2D Albany, NY	2.0	1.0	1000	$1,900	$1.90	45d	1	1.19mi
33 Centre St Apt 2A Albany, NY	2.0	1.0	975	$1,875	$1.92	45d	1	1.19mi
33 Centre St Apt 3A Albany, NY	2.0	1.0	975	$1,925	$1.97	23d	1	1.19mi
33 Centre St Apt 1A Albany, NY	2.0	1.0	885	$1,825	$2.06	16d	1	1.19mi
135 Madison Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,400	$1.40	45d	1	1.23mi
151 S Pearl St Albany, NY	2.0	1.0	1000	$1,600	$1.60	16d	1	1.23mi
168 S Pearl St Albany, NY	3.0	1.5	1044	$1,800	$1.72	25d	1	1.27mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	45d	1	1.29mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	25d	1	1.32mi
110 Lark St Unit STREET-1 Albany, NY	2.0	1.0	975	$1,150	$1.18	23d	1	1.33mi
110 Lark St Unit STREET-1 Albany, NY	2.0	1.0	975	$1,150	$1.18	16d	1	1.33mi
254 Sheridan Ave Unit 2 Albany, NY	3.0	1.0	900	$1,300	$1.44	25d	1	1.34mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	45d	1	1.37mi
624 N Pearl St Unit 1st floor Albany, NY	4.0	2.0	1800	$1,950	$1.08	16d	1	1.37mi
628 N Pearl St Menands, NY	3.0	1.0	1088	$1,500	$1.38	45d	1	1.38mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	46d	1	1.41mi
149 Jay St Albany, NY	2.0	1.0	1000	$1,750	$1.75	45d	1	1.42mi
2 River Chase Rensselaer, NY	1.0–3.0	1.0–2.0	1348	$2,615	$1.94	16d	34	1.43mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	25d	1	1.43mi
336 Clinton Ave Albany, NY	2.0	1.0	900	$1,700	$1.89	45d	1	1.45mi
199 Lark St Albany, NY	3.0	1.0	1000	$1,800	$1.80	45d	1	1.49mi

Listing history 5 events

1. 2026-03-05
   status Pending
2. 2026-02-06
   listed $219,900 Active
3. 2025-12-31
   soldstatus $105,000 Closed 17-char remark

   Show marketing remark (17 chars)

   Sold Before Print

4. 2025-12-29
   listed $105,000 Active 17-char remark

   Show marketing remark (17 chars)

   Sold Before Print

5. 2025-10-30
   soldstatus $105,000

ⓘ 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: $2,626 · $219/mo
• Projected year-2 tax: $3,171 · $264/mo
• Expected delta: +$545/yr (+$45/mo · 20.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $23,640
• − Mortgage interest: −$12,318
• − Property taxes: −$2,626
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$6,397
• Taxable loss: −$2,583
• Est. tax savings @ 24.0%: +$620
• After-tax cash flow: $1,732/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: Rensselaer City School District
• NCES district ID: 3624450
• Math proficiency: 28% ▼ -2.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $48,665
• Composite: 26.89/100
• National rank: #7096
• State rank: #574 of 590 in NY

Livability — Rensselaer

• Score: 77/100
• State rank: #191
• US rank: #2967

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rensselaer, NY
• County: Rensselaer County · 75,590 people
• City population: 22,111
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 22,111
• Household income: $90,738
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 541.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 8% Asian 7% Hispanic / Latino 6% Black 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Iranian 3%
• Foreign-born: 7% · Philippines, Canada, China
• Languages at home: 91% English-only · Other Asian/Pacific 3% Spanish 2% Chinese 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.26%
• Current HPI: 276.2239
• Rent YoY: ▲ 0.90%
• 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

+109.4% since first listed

5 events — show timeline

• 2026-03-05 Pending — Global MLS
• 2026-02-06 Listed $219,900 Global MLS
• 2025-12-31 Sold (MLS) $105,000 Global MLS
• 2025-12-29 Listed $105,000 Global MLS
• 2025-10-30 Sold (Public Records) $105,000 Public Records

Property tax history

+11.8%/yr

Latest (2025): $2,626 · +6.1% YoY. Source: county tax records.