2259 Hamburg St · Rotterdam, NY 12303

$279,900

4 bd · 2.0 ba · 2,244 sqft · MultiFamily public records · 27 Days on market

Built 1920 6,534 sqft lot $125/sqft · 30% below area Est $401k · 30% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.5/10.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• 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

Smart investment or owner-occupant opportunity! This move-in ready two-family in Rotterdam offers flexibility and space in a well-maintained home. Each unit features three bedrooms, a full bathroom, a bright living room, eat in- dining area/kitchen. Appliances are included. New replacement windows 2nd floor, newer furnaces. Washer-dryer hooks up are in the basement. Ideal for anyone looking to live in one unit and rent the other, or to add to an investment portfolio. With a combination of space, convenience to shopping, restaurants, and easy access to highways. This property features strong rental income. Opportunities like this, do not come around often! Agent is owner. 2nd floor vacant v

Key facts

• Move-in ready
• Newer furnaces
• Strong rental income

Tags

• MOVE-IN READY
• NEW REPLACEMENT WINDOWS
• NEWER FURNACES
• STRONG RENTAL INCOME
• CONVENIENCE TO SHOPPING
• EASY ACCESS TO HIGHWAYS

Property features AI

Finance

• Other: Level lot
• Financial info: Two-unit multi-family; tenants pay trash collection, hot water, heat, internet, cable TV, electricity, and gas

Exterior

• Parking: Off-street paved driveway parking for 4 vehicles
• Utilities: Public water; Septic sewer; 100 Amp electrical service; Cable available
• Home design: Duplex; Block foundation; Vinyl siding construction
• Construction: Asphalt roof
• Exterior features: Covered front porch; Rear covered porch; Patio/porch areas

Interior

• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Vinyl; Tile; Carpet; Laminate
• Bathrooms: Two full bathrooms (one full bath on the 1st level, one full bath on the 2nd level)
• Heating & cooling: Forced air and hot water heating; Natural gas heating
• Interior features: Storm doors; Screens and blinds on windows; ENERGY STAR qualified double-pane windows
• Laundry & utility: Washer hookup in the basement; In-basement laundry area

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive. Per door: $291/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $276k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.0% in Rotterdam — 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 78/100 on livability (#161 in NY, #2,455 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment B+; Watch: schools D+, crime F.
• Rotterdam-Mohonasen Central School District (suburban): math 48% / reading 56% proficiency, ranked #333 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 161 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,216/mo this rent would consume 46% of the median local household income ($84k/yr) (locally 1318% 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.
• Schenectady County population projected to shrink 4% 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 ($276k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $275,701 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $401,217
• List price: $279,900
• Delta: -30.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-8,238
• Equity at exit: $41,734

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $40,798
• Equity at exit: $24,201

Cash invested: $78,372 (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 12303

• Active inventory: 161
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,216 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$374 /mo · $4,493/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $582

Break-even live

Break-even rent $2,480

Max offer price $279,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,216
Total (2 units)			$3,216

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2971 Hamburg St Schenectady, NY	3.0	2.0	1949	$650	$0.33	23d	1	1.05mi
1346 10th Ave Schenectady, NY	4.0	2.0	2350	$2,499	$1.06	14d	1	1.13mi

Listing history 11 events

1. 2026-06-14
   status $279,900 Pending 27 DOM
2. 2026-06-10
   days on market $279,900 Active 27 DOM
3. 2026-06-09
   days on market $279,900 Active 26 DOM
4. 2026-06-08
   days on market $279,900 Active 25 DOM
5. 2026-06-07
   days on market $279,900 Active 24 DOM
6. 2026-06-03
   days on market $279,900 Active 20 DOM
7. 2026-06-02
   days on market $279,900 Active 19 DOM
8. 2026-06-01
   days on market $279,900 Active 18 DOM
9. 2026-05-31
   days on market $279,900 Active 17 DOM
10. 2026-05-31
    days on market $279,900 Active 16 DOM
11. 2026-05-11
    listed $279,900 Active 808-char remark

ⓘ 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: $4,493 · $374/mo
• Projected year-2 tax: $4,612 · $384/mo
• Expected delta: +$119/yr (+$10/mo · 2.6%)

ⓘ 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: $38,592
• − Mortgage interest: −$15,679
• − Property taxes: −$4,493
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,087
• − Management: −$3,087
• − Depreciation: −$8,143
• Taxable income: $2,704
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $6,333/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: Rotterdam-Mohonasen Central School District
• NCES district ID: 3600004
• Math proficiency: 48% ▼ -4.00%
• Reading proficiency: 56% ▲ 9.00%
• Median HH income: $59,640
• Composite: 45.34/100
• National rank: #2638
• State rank: #333 of 590 in NY

Livability — Rotterdam

• Score: 78/100
• State rank: #161
• US rank: #2455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rotterdam, NY
• County: Schenectady County · 141,369 people
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -151.01%
• Current HPI: 280.3886
• Rent YoY: —
• 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

• 2026-06-10 Pending — Global MLS
• 2026-05-11 Listed $279,900 Global MLS

Property tax history

+0.2%/yr

Latest (2025): $4,493 · -0.1% YoY. Source: county tax records.