None · Schenectady, NY 12309

$500,000

35 bd · 25.0 ba · 4,703 sqft · MultiFamily public records · 8 Days on market

Built 1984 3,920 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great Multifamily with Great Rental History! To be sold with 1502 Union Street, 9 Family, great corner lot close to shopping and Upper Union Street. This is a solid rental property with low maintenance. A Must See! Call LA for more details. Excellent Condition

Key facts

• Private parking lot
• 3,920 sq ft lot
• 4 parking spots

Tags

• 5 UNIT INVESTMENT PROPERTY
• UPDATED MECHANICAL SYSTEMS
• PAVED OFF STREET PARKING
• PRIVATE PARKING LOT

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $614/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $500k).
• Cap rate 13.7% vs local median 6.3% in Schenectady — 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 (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: 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.
• Zoned schools: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.6%/yr); 164 active listings in the ZIP; high-income renter base; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $8,194/mo this rent would consume 78% of the median local household income ($125k/yr) (locally 300% 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 $15k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $140k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 28y 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 $130k; list at $500k implies a 285% gain — meaningful room to come down on a strong offer.

Recommended offer $500,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.64% ✓
• Cap rate: 13.66%
• Cash-on-cash: 26.31%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.65×
• Total profit: $90,554
• Equity at exit: $74,552

10-year hold

• IRR: 23.0%
• Equity multiple: 2.70×
• Total profit: $238,157
• Equity at exit: $43,231

Cash invested: $140,000 (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 12309

• Rents YoY: -1.6%
• Active inventory: 164
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $8,194 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$573 /mo · $6,881/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,721
• Net cashflow: $3,069

Break-even live

Break-even rent $4,309

Max offer price $500,000

Occupancy floor 58%

Sensitivity live

Price	-10% $3,353	-5% $3,211	+0% $3,069	+5% $2,928	+10% $2,786
Rent	-10% $2,422	-5% $2,746	+0% $3,069	+5% $3,393	+10% $3,717
Rate	-1.0pp $3,321	-0.5pp $3,197	base $3,069	+0.5pp $2,940	+1.0pp $2,808

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	1	$8,195
Total (5 units)			$8,194

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-20
   status Pending
2. 2026-03-12
   listed $500,000 Active
3. 2014-06-23
   soldstatus $130,000
4. 2014-06-16
   soldstatus $130,000 264-char remark

   Show marketing remark (264 chars)

   Great Multifamily with Great Rental History! To be sold with 1502 Union Street, 9 Family, great corner lot close to shopping and Upper Union Street. This is a solid rental property with low maintenance. A Must See! Call LA for more details. Excellent Condition

5. 2014-03-25
   historical 264-char remark

   Show marketing remark (264 chars)

   Great Multifamily with Great Rental History! To be sold with 1502 Union Street, 9 Family, great corner lot close to shopping and Upper Union Street. This is a solid rental property with low maintenance. A Must See! Call LA for more details. Excellent Condition

6. 2014-03-17
   listed $149,000 264-char remark

   Show marketing remark (264 chars)

   Great Multifamily with Great Rental History! To be sold with 1502 Union Street, 9 Family, great corner lot close to shopping and Upper Union Street. This is a solid rental property with low maintenance. A Must See! Call LA for more details. Excellent Condition

7. 1999-02-17
   soldstatus $87,000 234-char remark

   Show marketing remark (234 chars)

   CHARMING 6 UNIT,FULL FT.PRCH,3 DECKS OFF REAR APTS,HW FLRS,STAINED WDWK,NEW OIL FRNACE,NEW GAS H20 HTR,GROSS ANNUAL INCOME.$26,400.ANN EXPENSES $425.INVEST $28712 & MAKE $679 PER YR.APPTS--CALL JUNE 448-6713 -- Very Good Condition

8. 1998-07-21
   historical 234-char remark

   Show marketing remark (234 chars)

   CHARMING 6 UNIT,FULL FT.PRCH,3 DECKS OFF REAR APTS,HW FLRS,STAINED WDWK,NEW OIL FRNACE,NEW GAS H20 HTR,GROSS ANNUAL INCOME.$26,400.ANN EXPENSES $425.INVEST $28712 & MAKE $679 PER YR.APPTS--CALL JUNE 448-6713 -- Very Good Condition

9. 1998-07-05
   listed $89,900 234-char remark

   Show marketing remark (234 chars)

   CHARMING 6 UNIT,FULL FT.PRCH,3 DECKS OFF REAR APTS,HW FLRS,STAINED WDWK,NEW OIL FRNACE,NEW GAS H20 HTR,GROSS ANNUAL INCOME.$26,400.ANN EXPENSES $425.INVEST $28712 & MAKE $679 PER YR.APPTS--CALL JUNE 448-6713 -- Very Good Condition

ⓘ 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: $6,881 · $573/mo
• Projected year-2 tax: $7,665 · $639/mo
• Expected delta: +$785/yr (+$65/mo · 11.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $98,328
• − Mortgage interest: −$28,008
• − Property taxes: −$6,881
• − Insurance: −$2,500
• − Repairs & maintenance: −$7,866
• − Management: −$7,866
• − Depreciation: −$14,545
• Taxable income: $30,662
• Est. tax owed @ 24.0%: −$7,359
• After-tax cash flow: $29,475/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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 33,246
• Household income: $125,274
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 300.0

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 (76%)
• Race & ethnicity: White 76% Asian 9% Two or more races 8% Hispanic / Latino 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Iranian 3%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 2%

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: ▼ -228.63%
• Current HPI: 294.773
• Rent YoY: ▼ -1.55%
• 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

+456.2% since first listed

9 events — show timeline

• 2026-03-20 Pending — Global MLS
• 2026-03-12 Listed $500,000 Global MLS
• 2014-06-23 Sold (Public Records) $130,000 Public Records
• 2014-06-16 Sold (MLS) $130,000 Global MLS
• 2014-03-25 Listing Removed — Global MLS
• 2014-03-17 Listed $149,000 Global MLS
• 1999-02-17 Sold (MLS) $87,000 Global MLS
• 1998-07-21 Listing Removed — Global MLS
• 1998-07-05 Listed $89,900 Global MLS

Property tax history

-3.1%/yr

Latest (2025): $6,881 · +0.8% YoY. Source: county tax records.