177 Lancaster St · Albany, NY 12210

$374,999

3 bd · 2.5 ba · 1,806 sqft · MultiFamily public records · 13 Days on market

Built 1852 2,178 sqft lot $208/sqft · at area comps Est $366k · 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 +12.1/30.0
• ARV discount +6.4/15.0
• 1% rule +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Classic townhouse style brick duplex in the heart of Center Square. Renovated 1st and 2nd floor apartment with beautiful features. This building boats the perfect mix of updated modern living and classic feel. Perfect for an owner occupant or an investor.

Key facts

• Brick duplex
• Renovated apartment
• Townhouse style

Tags

• TOWNHOUSE STYLE
• BRICK DUPLEX
• RENOVATED APARTMENT
• UPDATED MODERN LIVING

Property features AI

Finance

• Other: Lot size approximately 0.05 acre (2,178 sq ft); Property listed by Tier One Real Estate Pros LLC
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Duplex property; 1,806 total living area with 630 below-grade finished area
• Construction: Brick construction
• Exterior features: Other exterior features (not specified)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: One unit with 2 bedrooms; One unit with 1 bedroom
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms and one half bathroom total; Full baths located in the basement and on the 2nd floor; Half bath located on the 1st floor
• Heating & cooling: Natural gas heating
• Interior features: Basement apartment (finished below grade area)
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $-79 ($-949/yr) — negative. Per door: $-40/mo.
• To cash-flow at today's rent, offer at most $361k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $354k (5.5% below list).
• Recommended offer: $354k (5.5% 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 fast (+6.9%/yr); 70 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,543/mo this rent would consume 76% of the median local household income ($56k/yr) (locally 1211% 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 $3k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1852 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,300 (5.5% 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. 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 1852 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.94% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• GRM: 8.8

CMA / ARV

• ARV (median comp): $365,830
• List price: $374,999
• Delta: 2.51%
• 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
202 Jefferson St	0.26mi	3/2.0	1,776 (-2%)	6mo	$325,000	$183	78
179 Lancaster St	0.00mi	3/3.0	2,016 (+12%)	5mo	$200,000	$99	74
378 Hamilton St	0.16mi	4/3.0 (+1)	1,700 (-6%)	6mo	$285,000	$168	71
152 Jefferson St	0.27mi	3/2.5	1,952 (+8%)	9mo	$284,800	$146	66
5 Garden Aly	0.17mi	2/2.0 (-1)	1,545 (-14%)	1mo	$392,000	$254	60
149 Jefferson St	0.26mi	4/2.0 (+1)	2,016 (+12%)	5mo	$325,000	$161	57
52 Irving St	0.34mi	4/2.0 (+1)	1,936 (+7%)	10mo	$238,000	$123	57
246 1st St	0.55mi	4/2.0 (+1)	1,860 (+3%)	9mo	$185,000	$99	55
248 Catherine St	0.75mi	4/2.0 (+1)	1,816 (+1%)	3mo	$185,000	$102	54
39-47 Ten Broeck Pl	0.68mi	3/2.5	1,936 (+7%)	5mo	$160,000	$83	52
60 Bradford St	0.57mi	3/2.0	1,600 (-11%)	4mo	$170,000	$106	49
95 3rd St	0.64mi	4/2.0 (+1)	1,584 (-12%)	3mo	$180,000	$114	40

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 · 6.86% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.51×
• Total profit: $-51,279
• Equity at exit: $55,914

10-year hold

• IRR: 1.5%
• Equity multiple: 1.13×
• Total profit: $13,309
• Equity at exit: $32,423

Cash invested: $105,000 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $3,543 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$755 /mo · $9,063/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $-79

Break-even live

Break-even rent $3,643

Max offer price $361,031

Occupancy floor 97%

Sensitivity live

Price	-10% $133	-5% $27	+0% $-79	+5% $-185	+10% $-291
Rent	-10% $-359	-5% $-219	+0% $-79	+5% $61	+10% $201
Rate	-1.0pp $110	-0.5pp $16	base $-79	+0.5pp $-176	+1.0pp $-275

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$3,542
Total (2 units)			$3,543

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 Dove St Albany, NY	2.0	2.5	2400	$2,350	$0.98	15d	1	0.07mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	24d	1	0.07mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	45d	1	0.08mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	15d	10	0.21mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	45d	1	0.24mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	24d	1	0.25mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	45d	1	0.42mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	45d	1	0.61mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	15d	17	0.63mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	22d	1	0.68mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	24d	1	0.69mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	45d	1	0.72mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	15d	1	0.72mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	15d	1	0.79mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	45d	1	0.85mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	45d	1	0.89mi
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	45d	1	0.93mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	24d	1	0.96mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	45d	1	1.04mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	24d	1	1.04mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	45d	1	1.08mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	15d	1	1.15mi
99 New Broadway Rensselaer, NY	2.0	1.0–2.0	946	$2,495	$2.64	15d	5	1.18mi
100 New Broadway Rensselaer, NY	2.0	2.0	1248	$2,212	$1.77	15d	2	1.28mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	15d	1	1.30mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	15d	1	1.35mi
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	20d	1	1.42mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	45d	1	1.45mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	24d	1	1.49mi

Listing history 31 events

1. 2026-06-21
   days on market $374,999 Active 13 DOM
2. 2026-06-18
   days on market $374,999 Active 10 DOM
3. 2026-06-17
   days on market $374,999 Active 9 DOM
4. 2026-06-16
   days on market $374,999 Active 8 DOM
5. 2026-06-15
   days on market $374,999 Active 7 DOM
6. 2026-06-14
   days on market $374,999 Active 5 DOM
7. 2026-06-10
   days on market $374,999 Active 2 DOM
8. 2026-06-09
   days on marketlisting id $374,999 Active 1 DOM
9. 2026-06-03
   days on market $374,999 Active 107 DOM
10. 2026-06-02
    days on market $374,999 Active 106 DOM
11. 2026-06-01
    days on market $374,999 Active 105 DOM
12. 2026-05-31
    days on market $374,999 Active 104 DOM
13. 2026-05-31
    days on market $374,999 Active 103 DOM
14. 2026-04-29
    status Active 255-char remark
15. 2026-04-16
    status Pending 255-char remark
16. 2026-02-03
    listed $374,999 Active 255-char remark
17. 2025-10-07
    price $379,999
18. 2025-09-05
    status Active
19. 2025-08-18
    status Pending
20. 2025-08-18
    historical
21. 2025-07-11
    listed $399,999 Active
22. 2025-06-05
    historical $1,200
23. 2025-04-09
    listed $1,200
24. 2024-02-23
    historical $1,125
25. 2024-01-04
    listed $1,125
26. 2022-01-16
    price $1,100
27. 2021-12-15
    soldstatus $868,500
28. 2021-12-06
    soldstatus $325,000 Closed (Final Sale)
29. 2021-09-21
    status Pend (Under Cntr)
30. 2021-09-16
    price $342,400
31. 2021-08-11
    listed $349,900 New

ⓘ 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: $9,063 · $755/mo
• Projected year-2 tax: $9,063 · $755/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 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: $42,516
• − Mortgage interest: −$21,006
• − Property taxes: −$9,063
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,401
• − Management: −$3,401
• − Depreciation: −$10,909
• Taxable loss: −$7,139
• Est. tax savings @ 24.0%: +$1,713
• After-tax cash flow: $765/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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+7.2% since first listed

20 events — show timeline

• 2026-06-06 Listed $374,999 Global MLS
• 2026-04-29 Relisted — Global MLS
• 2026-04-16 Pending — Global MLS
• 2026-04-16 Listing Removed — Global MLS
• 2026-02-03 Listed $374,999 Global MLS
• 2025-10-07 Price Changed $379,999 Global MLS
• 2025-09-05 Relisted — Global MLS
• 2025-08-18 Pending — Global MLS
• 2025-08-18 Listing Removed — Global MLS
• 2025-07-11 Listed $399,999 Global MLS
• 2025-06-05 Rental Removed $1,200 RENTSPREE
• 2025-04-09 Listed for Rent $1,200 RENTSPREE
• 2024-02-23 Rental Removed $1,125 BUILDIUM
• 2024-01-04 Listed for Rent $1,125 BUILDIUM
• 2022-01-16 Price Changed $1,100 BUILDIUM
• 2021-12-15 Sold (Public Records) $868,500 Public Records
• 2021-12-06 Sold (MLS) $325,000 Global MLS
• 2021-09-21 Pending — Global MLS
• 2021-09-16 Price Changed $342,400 Global MLS
• 2021-08-11 Listed $349,900 Global MLS

Property tax history

+1.2%/yr

Latest (2025): $9,063 · +2.0% YoY. Source: county tax records.