1337 8th Ave · Schenectady, NY 12303

$150,000

3 bd · 2.0 ba · 1,193 sqft · SingleFamily public records · 134 Days on market

Built 1890 3,484 sqft lot Est $225k · 33% under ↓ 30% since listing

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Why this score? — see what drove the C 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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated seller. Centrally located in Schenectady close to 890, downtown Schenectady, Rivers Casino & Union college. Close to all shopping & bus lines. Sold as is. Owner is flexible. Large backyard. Unfinished basement.

Key facts

• Centrally located
• Large backyard
• Unfinished basement

Tags

• CENTRALLY LOCATED
• LARGE BACKYARD
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 6.3% in Schenectady — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Hamilton Elementary School (math 15% / reading 24%, grade F, #1,972 of 2,108 statewide, top 94%, 419 students, 0% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL) — zoned schools average 35% FRL vs 65% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 51% at this address vs 36% district-wide (+15 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: 161 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 134 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.05% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.06%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $225,477
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1337 8th Ave	0.00mi	4/2.0 (+1)	1,193 (0%)	1mo	$132,500	$111	94
1084 Webster St	0.12mi	3/2.0	1,282 (+8%)	2mo	$230,000	$179	80
1133 Cutler St	0.09mi	4/1.0 (+1)	1,142 (-4%)	3mo	$190,000	$166	78
818 Cutler St	0.40mi	3/1.5	1,224 (+3%)	0mo	$165,000	$135	75
1114 Forest Rd	0.52mi	3/1.0	1,152 (-3%)	0mo	$218,000	$189	66
1067 Cutler St	0.15mi	2/1.5 (-1)	1,352 (+13%)	2mo	$100,000	$74	62
1020 Pearl St	0.38mi	2/1.5 (-1)	1,295 (+8%)	0mo	$152,500	$118	61
1201 Helderberg Ave Ave	0.56mi	3/2.0	1,271 (+6%)	2mo	$252,000	$198	61
1221 Houlton Ave	0.58mi	3/1.0	1,232 (+3%)	5mo	$245,000	$199	60
1880 Broad St	0.41mi	4/1.0 (+1)	1,255 (+5%)	5mo	$278,000	$222	59
1420 Nelson St	0.32mi	3/1.0	1,057 (-11%)	4mo	$230,000	$218	58
2112 Gray St	0.70mi	3/1.0	1,340 (+12%)	4mo	$277,650	$207	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-12,988
• Equity at exit: $22,365

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,386
• Equity at exit: $12,969

Cash invested: $42,000 (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 12303

• Active inventory: 161
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,577 high
• Mortgage (P&I): −$787
• Tax from tax record: −$220 /mo · $2,639/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $177

Break-even live

Break-even rent $1,353

Max offer price $150,000

Occupancy floor 84%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	44d	1	0.11mi
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	14d	1	0.12mi
1121 10th Ave Schenectady, NY	2.0	1.0	800	$1,250	$1.56	23d	1	0.32mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	14d	1	0.74mi
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	19d	1	0.75mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	14d	1	0.78mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	23d	1	0.87mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	14d	1	0.88mi
1729 Ferguson St Schenectady, NY	2.0	1.0	850	$1,730	$2.04	14d	1	0.99mi
922 State St Schenectady, NY	1.0–2.0	1.0	855	$1,390	$1.63	14d	6	1.14mi
611 Cramer Ave Schenectady, NY	3.0	1.0	1100	$2,295	$2.09	14d	1	1.24mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,500	$1.63	19d	1	1.28mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$1,515	$1.47	14d	9	1.31mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	19d	1	1.34mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	14d	1	1.43mi

Listing history 6 events

1. 2026-04-01
   status Pending
2. 2026-02-16
   status Active
3. 2026-02-16
   price $150,000
4. 2026-01-20
   status Pending
5. 2025-11-21
   price $175,000
6. 2025-10-22
   listed $215,000 Active

ⓘ 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: $2,639 · $220/mo
• Projected year-2 tax: $2,639 · $220/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $18,927
• − Mortgage interest: −$8,402
• − Property taxes: −$2,639
• − Insurance: −$750
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$4,364
• Taxable loss: −$256
• Est. tax savings @ 24.0%: +$61
• After-tax cash flow: $2,186/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): 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

-30.2% since first listed

6 events — show timeline

• 2026-04-01 Pending — Global MLS
• 2026-02-16 Relisted — Global MLS
• 2026-02-16 Price Changed $150,000 Global MLS
• 2026-01-20 Pending — Global MLS
• 2025-11-21 Price Changed $175,000 Global MLS
• 2025-10-22 Listed $215,000 Global MLS

Property tax history

+0.8%/yr

Latest (2025): $2,639 · +4.7% YoY. Source: county tax records.