40 113th St · Troy, NY 12182

$149,000

2 bd · 1.0 ba · 1,566 sqft · SingleFamily public records · 40 Days on market

Built 1890 3,049 sqft lot $95/sqft · 36% below area Est $232k · 36% 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

Key facts

• Great curb appeal
• Bathroom expanded
• Entire yard fenced

Tags

• GREAT CURB APPEAL
• ENTIRE YARD FENCED
• BATHROOM EXPANDED
• ROOM TO EXPAND

Property features AI

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area approximately 1,548; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Exterior lighting

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: Bedroom on the first floor; Bedroom on the second floor; Office on the first floor (can function as a bedroom or flexible space)
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: 7 total rooms; Crawl space basement; Interior lighting

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Turnpike Elementary School (534 students, 61% FRL); Knickerbacker Middle School (math 15% / reading 35%, grade F, #601 of 729 statewide, top 82%, 471 students, 75% FRL); Lansingburgh Senior High School (math 92%, 638 students, 75% FRL) — zoned schools average 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 405 units permitted in Rensselaer County in 2024 (224 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.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 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 $60k; list at $149k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.24% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.28%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $231,540
• List price: $149,000
• Delta: -35.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
477 9th Ave	0.21mi	3/2.0 (+1)	1,440 (-8%)	2mo	$185,000	$128	66
13 111th St	0.25mi	3/2.0 (+1)	1,440 (-8%)	2mo	$158,000	$110	64
476 W Park Pl	0.15mi	2/2.5	1,632 (+4%)	18mo	$280,000	$172	64
22 115th St	0.22mi	3/2.0 (+1)	1,655 (+6%)	9mo	$225,000	$136	64
425 7th Ave	0.22mi	3/1.0 (+1)	1,503 (-4%)	21mo	$175,000	$116	61
351 6th Ave	0.42mi	3/1.5 (+1)	1,488 (-5%)	15mo	$212,000	$142	53
362 3rd Ave	0.43mi	3/1.5 (+1)	1,418 (-10%)	8mo	$216,000	$152	51
660 5th Ave	0.44mi	2/1.0	1,750 (+12%)	12mo	$250,000	$143	50
6 Breslin Ave	0.57mi	3/1.5 (+1)	1,396 (-11%)	12mo	$242,500	$174	38
752 7th Ave	0.69mi	3/2.0 (+1)	1,394 (-11%)	3mo	$236,380	$170	38
302 6th Ave	0.55mi	3/1.5 (+1)	1,725 (+10%)	16mo	$255,000	$148	38
668 6th Ave	0.48mi	3/1.0 (+1)	1,340 (-14%)	16mo	$114,660	$86	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-424
• Equity at exit: $22,216

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $30,347
• Equity at exit: $12,883

Cash invested: $41,720 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 76
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $371

Break-even live

Break-even rent $1,374

Max offer price $149,000

Occupancy floor 75%

Sensitivity live

Price	-10% $474	-5% $423	+0% $371	+5% $320	+10% $268
Rent	-10% $226	-5% $299	+0% $371	+5% $444	+10% $517
Rate	-1.0pp $447	-0.5pp $409	base $371	+0.5pp $333	+1.0pp $294

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Stoneledge Dr Apt 1 Troy, NY	2.0	2.0	1210	$2,000	$1.65	45d	1	0.59mi
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	23d	1	0.60mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	21d	1	0.63mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	16d	1	0.63mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	16d	13	0.66mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,263	$1.07	16d	1	0.70mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	16d	1	0.72mi
157 6th Ave Unit 2 Troy, NY	3.0	1.0	1300	$1,350	$1.04	21d	1	0.94mi
140 5th Ave Unit 2 Troy, NY	3.0	1.0	1200	$1,395	$1.16	25d	1	0.99mi
11 Parker Ln Unit 5 Waterford, NY	2.0	2.5	1500	$2,800	$1.87	16d	1	1.10mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$1,998	$1.73	16d	4	1.25mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	21d	1	1.36mi
196 Main St Cohoes, NY	2.0	1.0	1200	$1,375	$1.15	25d	1	1.36mi
338 Saratoga St Unit 2 Cohoes, NY	3.0	1.5	1200	$1,495	$1.25	45d	1	1.37mi
129 Main St Cohoes, NY	2.0	1.0	1104	$1,350	$1.22	45d	1	1.38mi
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,345	$1.12	25d	1	1.41mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	16d	1	1.42mi

Listing history 40 events

1. 2026-06-22
   days on market $149,000 Active 40 DOM
2. 2026-06-18
   days on market $149,000 Active 37 DOM
3. 2026-06-17
   days on market $149,000 Active 36 DOM
4. 2026-06-16
   days on market $149,000 Active 35 DOM
5. 2026-06-15
   price $149,000 Active 34 DOM
6. 2026-06-15
   days on market $155,000 Active 34 DOM
7. 2026-06-14
   days on market $155,000 Active 32 DOM
8. 2026-06-10
   days on market $155,000 Active 29 DOM
9. 2026-06-09
   days on market $155,000 Active 28 DOM
10. 2026-06-08
    days on market $155,000 Active 27 DOM
11. 2026-06-07
    days on market $155,000 Active 26 DOM
12. 2026-06-05
    days on market $155,000 Active 23 DOM
13. 2026-06-03
    days on market $155,000 Active 22 DOM
14. 2026-06-02
    days on market $155,000 Active 21 DOM
15. 2026-06-01
    days on market $155,000 Active 20 DOM
16. 2026-05-31
    days on market $155,000 Active 19 DOM
17. 2026-05-31
    days on market $155,000 Active 18 DOM
18. 2026-05-11
    listed $155,000 Active 453-char remark
19. 2018-06-27
    soldstatus $60,000 Closed (Final Sale) 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

20. 2017-03-28
    historical 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

21. 2017-02-03
    price $69,800 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

22. 2017-02-02
    price $69,900 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

23. 2017-01-30
    price $79,900 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

24. 2017-01-30
    price $69,900 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

25. 2017-01-20
    price $79,899 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

26. 2017-01-08
    listed $79,900 New 178-char remark

    Show marketing remark (178 chars)

    WOW! Best deal in Town. Bright, just renovated, in move-in condition. New kitchen cabinets, New stove and refrigerator, lovely yard. Immediate occupancy -- Very Good Condition

27. 2017-01-01
    historical
28. 2016-12-27
    price $89,900
29. 2016-11-22
    price $79,900
30. 2016-10-07
    listed $89,900 New
31. 2011-03-03
    soldstatus $26,000
32. 2010-12-10
    soldstatus $26,000
33. 2010-10-13
    historical
34. 2010-10-06
    listed $19,900
35. 2010-09-02
    historical
36. 2010-02-22
    listed $29,900
37. 1998-04-08
    soldstatus $54,000
38. 1998-04-01
    soldstatus $54,000
39. 1998-02-28
    historical
40. 1998-01-28
    listed $57,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,127
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$1,412
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$4,335
• Taxable income: $2,260
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $3,915/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• City population: 53,479
• Population (ZIP): 14,273

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.58%
• Current HPI: 273.5758
• Rent YoY: —
• Metro: —
• 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

+159.1% since first listed

24 events — show timeline

• 2026-06-15 Price Changed $149,000 Global MLS
• 2026-05-11 Listed $155,000 Global MLS
• 2018-06-27 Sold (MLS) $60,000 Global MLS
• 2017-03-28 Listing Removed — Global MLS
• 2017-02-03 Price Changed $69,800 Global MLS
• 2017-02-02 Price Changed $69,900 Global MLS
• 2017-01-30 Price Changed $79,900 Global MLS
• 2017-01-30 Price Changed $69,900 Global MLS
• 2017-01-20 Price Changed $79,899 Global MLS
• 2017-01-08 Listed $79,900 Global MLS
• 2017-01-01 Listing Removed — Global MLS
• 2016-12-27 Price Changed $89,900 Global MLS
• 2016-11-22 Price Changed $79,900 Global MLS
• 2016-10-07 Listed $89,900 Global MLS
• 2011-03-03 Sold (Public Records) $26,000 Public Records
• 2010-12-10 Sold (MLS) $26,000 Global MLS
• 2010-10-13 Listing Removed — Global MLS
• 2010-10-06 Listed $19,900 Global MLS
• 2010-09-02 Listing Removed — Global MLS
• 2010-02-22 Listed $29,900 Global MLS
• 1998-04-08 Sold (Public Records) $54,000 Public Records
• 1998-04-01 Sold (MLS) $54,000 Global MLS
• 1998-02-28 Listing Removed — Global MLS
• 1998-01-28 Listed $57,500 Global MLS

Property tax history

+18.9%/yr

Latest (2025): $7,516 · -15.3% YoY. Source: county tax records.