15 Buchanan St · Albany, NY 12206

$209,900

4 bd · 1.5 ba · 1,592 sqft · SingleFamily public records · 162 Days on market

Built 1900 3,049 sqft lot Est $295k · 29% under

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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 +18.8/30.0
• ARV discount +15.0/15.0
• 1% rule +6.2/10.0
• DSCR +5.9/10.0
• 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

Listing remarks MLS

1600 SQ FT IN WONDERFUL COND IN A GREAT ALBANY NEIGHBORHOOD. ENCLOSED FRONT PORCH, BEAUTIFUL WOODWORK & HDW FLRS, 1ST FLR LAUNDRY, EIN KIT, BUILT-IN CABINETS, FORMAL DINING, SECOND FLR BALCONY ACCESSED FROM BR, NEWER WINDOWS, NEWER FURNACE, C-AIR, PLENTY OF STORAGE IN BOTH THE LGE BSMT & LGE ATTIC. THE LOT ALLOWS FOR PLENTY OF OUTDOOR ENJOYMENT, YET REQUIRES MINIMAL MAINTENANCE. PLENTY OF ON ST PARKING. OFF STREET RENTAL SPACE AVAILABLE. Very Good Condition

Key facts

• Large eat-in kitchen
• Formal dining room
• Family room

Tags

• LARGE EAT-IN KITCHEN
• FORMAL DINING ROOM
• FAMILY ROOM
• LARGE MUD ROOM
• ENERGY EFFICIENT
• REPLACEMENT WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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.
• 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 (+5.4%/yr); 89 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,358/mo this rent would consume 68% 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 162 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $123k; list at $210k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 1.12% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $294,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Buchanan St	0.03mi	3/2.0 (-1)	1,524 (-4%)	2mo	$153,000	$100	83
47 N Main Ave	0.35mi	4/1.5	1,550 (-3%)	2mo	$270,000	$174	77
1020 Washington Ave	0.44mi	4/2.0	1,703 (+7%)	3mo	$350,500	$206	64
38 N Allen St	0.36mi	4/2.0	1,807 (+14%)	4mo	$265,000	$147	55
125 Benson St	0.50mi	3/1.5 (-1)	1,423 (-11%)	1mo	$250,000	$176	53
87 Kent St	0.47mi	5/2.0 (+1)	1,784 (+12%)	3mo	$290,000	$163	49
130 Rosemont St	0.70mi	4/1.5	1,446 (-9%)	4mo	$290,000	$201	48
112 Melrose Ave	0.68mi	3/1.5 (-1)	1,728 (+8%)	5mo	$350,000	$203	45
92 Homestead Ave	0.46mi	3/2.5 (-1)	1,396 (-12%)	5mo	$318,000	$228	45
289 W Lawrence St	0.66mi	3/1.5 (-1)	1,784 (+12%)	2mo	$305,000	$171	42
179 Brevator St	0.72mi	3/1.5 (-1)	1,418 (-11%)	4mo	$290,500	$205	40
596 Morris St	0.72mi	3/1.5 (-1)	1,376 (-14%)	5mo	$255,000	$185	35

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: -6.6%
• Equity multiple: 0.75×
• Total profit: $-14,735
• Equity at exit: $31,297

10-year hold

• IRR: 6.1%
• Equity multiple: 1.51×
• Total profit: $29,816
• Equity at exit: $18,148

Cash invested: $58,772 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,358 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$465 /mo · $5,576/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $210

Break-even live

Break-even rent $2,092

Max offer price $209,900

Occupancy floor 86%

Sensitivity live

Price	-10% $329	-5% $269	+0% $210	+5% $150	+10% $91
Rent	-10% $24	-5% $117	+0% $210	+5% $303	+10% $396
Rate	-1.0pp $316	-0.5pp $263	base $210	+0.5pp $155	+1.0pp $100

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	15d	1	0.23mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	44d	1	0.27mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	15d	1	0.62mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	44d	1	0.67mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	15d	1	0.69mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	24d	1	0.77mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	15d	1	0.84mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	44d	1	0.85mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	44d	1	0.85mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	24d	1	0.86mi
726 Western Ave Albany, NY	4.0	2.5	1900	$2,800	$1.47	44d	1	0.86mi
32 Richmond St Unit 2 Albany, NY	3.0	3.0	1248	$2,500	$2.00	15d	1	0.87mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	22d	1	0.88mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	24d	1	0.88mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	44d	1	0.92mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	44d	1	0.94mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	15d	1	0.96mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	15d	1	0.97mi
830 Western Ave Albany, NY	4.0	2.5	1600	$2,700	$1.69	15d	1	0.97mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	15d	1	0.98mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	15d	1	1.02mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	44d	1	1.04mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	24d	1	1.10mi
255 Patroon Creek Blvd Albany, NY	1.0–3.0	1.0–2.0	1080	$2,559	$2.37	15d	22	1.12mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	24d	1	1.20mi
53 Greenway N Albany, NY	3.0	2.0	1500	$2,600	$1.73	24d	1	1.25mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	44d	1	1.25mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	24d	1	1.25mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	22d	1	1.35mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	45d	1	1.36mi

Listing history 9 events

1. 2026-03-19
   status Pending
2. 2025-10-07
   listed $209,900 Active
3. 2008-10-10
   soldstatus $123,000
4. 2008-10-01
   soldstatus $123,000 470-char remark

   Show marketing remark (470 chars)

   1600 SQ FT IN WONDERFUL COND IN A GREAT ALBANY NEIGHBORHOOD. ENCLOSED FRONT PORCH, BEAUTIFUL WOODWORK & HDW FLRS, 1ST FLR LAUNDRY, EIN KIT, BUILT-IN CABINETS, FORMAL DINING, SECOND FLR BALCONY ACCESSED FROM BR, NEWER WINDOWS, NEWER FURNACE, C-AIR, PLENTY OF STORAGE IN BOTH THE LGE BSMT & LGE ATTIC. THE LOT ALLOWS FOR PLENTY OF OUTDOOR ENJOYMENT, YET REQUIRES MINIMAL MAINTENANCE. PLENTY OF ON ST PARKING. OFF STREET RENTAL SPACE AVAILABLE. Very Good Condition

5. 2008-07-18
   historical 470-char remark

   Show marketing remark (470 chars)

   1600 SQ FT IN WONDERFUL COND IN A GREAT ALBANY NEIGHBORHOOD. ENCLOSED FRONT PORCH, BEAUTIFUL WOODWORK & HDW FLRS, 1ST FLR LAUNDRY, EIN KIT, BUILT-IN CABINETS, FORMAL DINING, SECOND FLR BALCONY ACCESSED FROM BR, NEWER WINDOWS, NEWER FURNACE, C-AIR, PLENTY OF STORAGE IN BOTH THE LGE BSMT & LGE ATTIC. THE LOT ALLOWS FOR PLENTY OF OUTDOOR ENJOYMENT, YET REQUIRES MINIMAL MAINTENANCE. PLENTY OF ON ST PARKING. OFF STREET RENTAL SPACE AVAILABLE. Very Good Condition

6. 2008-02-01
   listed $124,900 470-char remark

   Show marketing remark (470 chars)

   1600 SQ FT IN WONDERFUL COND IN A GREAT ALBANY NEIGHBORHOOD. ENCLOSED FRONT PORCH, BEAUTIFUL WOODWORK & HDW FLRS, 1ST FLR LAUNDRY, EIN KIT, BUILT-IN CABINETS, FORMAL DINING, SECOND FLR BALCONY ACCESSED FROM BR, NEWER WINDOWS, NEWER FURNACE, C-AIR, PLENTY OF STORAGE IN BOTH THE LGE BSMT & LGE ATTIC. THE LOT ALLOWS FOR PLENTY OF OUTDOOR ENJOYMENT, YET REQUIRES MINIMAL MAINTENANCE. PLENTY OF ON ST PARKING. OFF STREET RENTAL SPACE AVAILABLE. Very Good Condition

7. 2003-09-19
   soldstatus $67,000 90-char remark

   Show marketing remark (90 chars)

   GOOD FAMILY HOME ON QUIET STREET BANK OWNED, SOLD AS IS, NEEDS SOME WORK -- Good Condition

8. 2003-07-16
   historical 90-char remark

   Show marketing remark (90 chars)

   GOOD FAMILY HOME ON QUIET STREET BANK OWNED, SOLD AS IS, NEEDS SOME WORK -- Good Condition

9. 2003-06-26
   listed $64,500 90-char remark

   Show marketing remark (90 chars)

   GOOD FAMILY HOME ON QUIET STREET BANK OWNED, SOLD AS IS, NEEDS SOME WORK -- 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: $5,576 · $465/mo
• Projected year-2 tax: $5,576 · $465/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 · 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: $28,293
• − Mortgage interest: −$11,758
• − Property taxes: −$5,576
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,263
• − Management: −$2,263
• − Depreciation: −$6,106
• Taxable loss: −$723
• Est. tax savings @ 24.0%: +$173
• After-tax cash flow: $2,691/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

+225.4% since first listed

9 events — show timeline

• 2026-03-19 Pending — Global MLS
• 2025-10-07 Listed $209,900 Global MLS
• 2008-10-10 Sold (Public Records) $123,000 Public Records
• 2008-10-01 Sold (MLS) $123,000 Global MLS
• 2008-07-18 Listing Removed — Global MLS
• 2008-02-01 Listed $124,900 Global MLS
• 2003-09-19 Sold (MLS) $67,000 Global MLS
• 2003-07-16 Listing Removed — Global MLS
• 2003-06-26 Listed $64,500 Global MLS

Property tax history

+3.2%/yr

Latest (2025): $5,576 · +2.4% YoY. Source: county tax records.