314 Manning Blvd · Albany, NY 12206

$250,000

6 bd · 2.0 ba · 1,694 sqft · MultiFamily public records · 97 Days on market

Built 1930 1,742 sqft lot $148/sqft · 46% below area Est $464k · 46% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• 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

Two unit property offering a great investment or owner-occupant opportunity. Conveniently located near bus lines, restaurants, grocery stores, and everyday amenities. The first-floor unit features 1 bedroom and 1 bathroom, while the second-floor unit offers 2 bedrooms and 1 bathroom. A solid rental property in a centralized location with strong income potential.

Key facts

• 1,742 sq ft lot
• Built 1930
• Listed 96 days

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×2bd/1ba units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive. Per door: $350/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $228k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.7% in Albany — 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 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.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,110/mo this rent would consume 90% of the median local household income ($42k/yr) (locally 2035% 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 $8k 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 + 5.4% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $163k; list at $250k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $227,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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 1930 — 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. 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?
8. 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.
9. 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.
10. 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: 1.24% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 6.7

CMA / ARV

• ARV (median comp): $463,979
• List price: $250,000
• Delta: -46.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
951 State St	0.19mi	5/2.0 (-1)	1,632 (-4%)	13mo	$365,000	$224	69
309 Manning Blvd	0.03mi	5/2.0 (-1)	1,868 (+10%)	10mo	$305,000	$163	68
42 Garfield Pl	0.38mi	5/2.0 (-1)	1,596 (-6%)	8mo	$120,000	$75	61
9 N Manning Blvd	0.47mi	5/2.0 (-1)	1,936 (+14%)	5mo	$145,000	$75	45
680 State St	0.75mi	6/2.0	1,744 (+3%)	19mo	$265,000	$152	44
538 Hamilton St	0.65mi	6/3.0	1,524 (-10%)	6mo	$285,000	$187	44

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.17×
• Total profit: $11,706
• Equity at exit: $37,276

10-year hold

• IRR: 15.8%
• Equity multiple: 2.44×
• Total profit: $100,538
• Equity at exit: $21,615

Cash invested: $70,000 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,110 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$342 /mo · $4,105/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $700

Break-even live

Break-even rent $2,224

Max offer price $250,000

Occupancy floor 72%

Sensitivity live

Price	-10% $841	-5% $770	+0% $700	+5% $629	+10% $558
Rent	-10% $454	-5% $577	+0% $700	+5% $822	+10% $945
Rate	-1.0pp $826	-0.5pp $763	base $700	+0.5pp $635	+1.0pp $569

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,462
1× unit	2	1	$1,648
Total (2 units)			$3,110

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $250,000 Active 97 DOM
2. 2026-06-18
   days on market $250,000 Active 94 DOM
3. 2026-06-17
   days on market $250,000 Active 93 DOM
4. 2026-06-16
   days on market $250,000 Active 92 DOM
5. 2026-06-15
   days on market $250,000 Active 91 DOM
6. 2026-06-14
   days on market $250,000 Active 89 DOM
7. 2026-06-10
   days on market $250,000 Active 86 DOM
8. 2026-06-08
   days on market $250,000 Active 84 DOM
9. 2026-06-07
   days on market $250,000 Active 83 DOM
10. 2026-06-03
    days on market $250,000 Active 79 DOM
11. 2026-06-02
    days on market $250,000 Active 78 DOM
12. 2026-06-01
    days on market $250,000 Active 77 DOM
13. 2026-05-31
    days on market $250,000 Active 76 DOM
14. 2026-05-31
    days on market $250,000 Active 75 DOM
15. 2026-05-01
    price $250,000 364-char remark

    Show marketing remark (364 chars)

    Two unit property offering a great investment or owner-occupant opportunity. Conveniently located near bus lines, restaurants, grocery stores, and everyday amenities. The first-floor unit features 1 bedroom and 1 bathroom, while the second-floor unit offers 2 bedrooms and 1 bathroom. A solid rental property in a centralized location with strong income potential.

16. 2026-03-16
    listed $260,000 Active 364-char remark

    Show marketing remark (364 chars)

    Two unit property offering a great investment or owner-occupant opportunity. Conveniently located near bus lines, restaurants, grocery stores, and everyday amenities. The first-floor unit features 1 bedroom and 1 bathroom, while the second-floor unit offers 2 bedrooms and 1 bathroom. A solid rental property in a centralized location with strong income potential.

17. 2023-06-08
    soldstatus $163,000
18. 2023-06-05
    soldstatus $163,000 Closed 285-char remark

    Show marketing remark (285 chars)

    Perfect opportunity to grow or begin your investment portfolio! Conveniently located 2-unit residential home in Albany; very close to the local schools and hospitals. Both units currently have great month to month long term renters, but rent could easily be increased with new tenants.

19. 2023-04-18
    status Pending 285-char remark

    Show marketing remark (285 chars)

    Perfect opportunity to grow or begin your investment portfolio! Conveniently located 2-unit residential home in Albany; very close to the local schools and hospitals. Both units currently have great month to month long term renters, but rent could easily be increased with new tenants.

20. 2023-04-07
    listed $175,000 Active 285-char remark

    Show marketing remark (285 chars)

    Perfect opportunity to grow or begin your investment portfolio! Conveniently located 2-unit residential home in Albany; very close to the local schools and hospitals. Both units currently have great month to month long term renters, but rent could easily be increased with new tenants.

ⓘ 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: $4,105 · $342/mo
• Projected year-2 tax: $4,165 · $347/mo
• Expected delta: +$60/yr (+$5/mo · 1.5%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $37,320
• − Mortgage interest: −$14,004
• − Property taxes: −$4,105
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,986
• − Management: −$2,986
• − Depreciation: −$7,273
• Taxable income: $4,717
• Est. tax owed @ 24.0%: −$1,132
• After-tax cash flow: $7,264/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+42.9% since first listed

6 events — show timeline

• 2026-05-01 Price Changed $250,000 Global MLS
• 2026-03-16 Listed $260,000 Global MLS
• 2023-06-08 Sold (Public Records) $163,000 Public Records
• 2023-06-05 Sold (MLS) $163,000 Global MLS
• 2023-04-18 Pending — Global MLS
• 2023-04-07 Listed $175,000 Global MLS

Property tax history

-0.7%/yr

Latest (2025): $4,105 · -0.7% YoY. Source: county tax records.