72 Bassett St · Albany, NY 12202

$249,999

6 bd · 3.0 ba · 2,052 sqft · MultiFamily public records · 1 Days on market

Built 1890 871 sqft lot $122/sqft · 44% below area Est $300k · 17% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover a great investment opportunity in Albany's South End with this three-unit property located just minutes from Downtown Albany, the Empire State Plaza, the Albany Waterfront, and major highways. The 2nd-floor unit is vacant, offering an ideal option for an owner-occupant or immediate rental potential. The 1st-floor and 2nd-floor units offer room for cosmetic updates, allowing a new owner to add value and maximize rents, while the basement apartment has been recently updated. The 1st-floor and basement units are tenant-occupied on month-to-month leases, providing built-in cash flow with flexibility for future plans. The current rents being received are below market value. With the right updates, higher rental rates can be achieved. Situated in an area experiencing continued growth and public investment, the South End and Downtown corridors are seeing new development, infrastructure improvements, and community revitalization. Close to local shops, public transit, restaurants, parks, and government offices, this location offers strong long-term rental demand. A solid addition to any investment portfolio with room to add value.

Key facts

• Updated property
• Tenant occupied
• New construction

Tags

• THREE UNIT INVESTMENT
• UPDATED PROPERTY
• TENANT OCCUPIED
• ACTIVE CASH FLOW
• NEW CONSTRUCTION
• WALKABLE TO SHOPS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 12.9% 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.
• Market conditions: Rents rising fast (+8.7%/yr); 58 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,038/mo this rent would consume 92% of the median local household income ($53k/yr) (locally 935% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $50k; list at $250k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $249,999

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.62% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.67%
• DSCR: 2.05
• GRM: 5.2

CMA / ARV

• ARV (median comp): $299,838
• List price: $249,999
• Delta: -16.62%
• 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
24 Delaware St	0.17mi	5/2.5 (-1)	2,112 (+3%)	2mo	$240,000	$114	79
135 4th Ave	0.17mi	5/2.0 (-1)	2,010 (-2%)	7mo	$175,000	$87	73
21 Myrtle Ave	0.36mi	6/3.0	2,100 (+2%)	14mo	$195,000	$93	67
22 1st Ave	0.44mi	6/2.0	2,043 (-0%)	9mo	$150,000	$73	67
56 Catherine St	0.26mi	5/2.5 (-1)	1,980 (-4%)	11mo	$264,000	$133	66
72 Catherine St	0.29mi	5/2.5 (-1)	1,980 (-4%)	11mo	$180,000	$91	65
23 Sloan St	0.34mi	6/3.0	2,310 (+13%)	1mo	$170,000	$74	62
79 2nd Ave	0.36mi	7/2.0 (+1)	1,920 (-6%)	7mo	$210,000	$109	58
252 Morton Ave	0.71mi	6/4.0	2,152 (+5%)	3mo	$285,000	$132	52
14 Bogart Ter	0.73mi	6/2.0	2,232 (+9%)	2mo	$250,000	$112	46
12 Bogart Ter	0.72mi	6/2.0	2,232 (+9%)	6mo	$180,000	$81	42
12 Grandview Ter	0.53mi	5/2.0 (-1)	2,244 (+9%)	10mo	$249,900	$111	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 45.0%
• Equity multiple: 4.51×
• Total profit: $245,557
• Equity at exit: $225,219

10-year hold

• IRR: 41.1%
• Equity multiple: 11.10×
• Total profit: $707,049
• Equity at exit: $485,693

Cash invested: $70,000 (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 12202

• Home prices YoY: 14.3%
• Rents YoY: 8.7%
• Active inventory: 58
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $4,038 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$394 /mo · $4,727/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$848
• Net cashflow: $1,381

Break-even live

Break-even rent $2,290

Max offer price $249,999

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,038
Total (3 units)			$4,038

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-17
   pricedays on marketlisting id $249,999 Active 1 DOM
2. 2026-06-03
   days on market $250,000 Active 63 DOM
3. 2026-06-02
   days on market $250,000 Active 62 DOM
4. 2026-06-01
   days on market $250,000 Active 61 DOM
5. 2026-05-31
   days on market $250,000 Active 60 DOM
6. 2026-05-31
   days on market $250,000 Active 59 DOM
7. 2026-05-11
   status Active 1152-char remark

   Show marketing remark (1152 chars)

   Discover a great investment opportunity in Albany's South End with this three-unit property located just minutes from Downtown Albany, the Empire State Plaza, the Albany Waterfront, and major highways. The 2nd-floor unit is vacant, offering an ideal option for an owner-occupant or immediate rental potential. The 1st-floor and 2nd-floor units offer room for cosmetic updates, allowing a new owner to add value and maximize rents, while the basement apartment has been recently updated. The 1st-floor and basement units are tenant-occupied on month-to-month leases, providing built-in cash flow with flexibility for future plans. The current rents being received are below market value. With the right updates, higher rental rates can be achieved. Situated in an area experiencing continued growth and public investment, the South End and Downtown corridors are seeing new development, infrastructure improvements, and community revitalization. Close to local shops, public transit, restaurants, parks, and government offices, this location offers strong long-term rental demand. A solid addition to any investment portfolio with room to add value.

8. 2026-01-31
   status Pending 1152-char remark

   Show marketing remark (1152 chars)

   Discover a great investment opportunity in Albany's South End with this three-unit property located just minutes from Downtown Albany, the Empire State Plaza, the Albany Waterfront, and major highways. The 2nd-floor unit is vacant, offering an ideal option for an owner-occupant or immediate rental potential. The 1st-floor and 2nd-floor units offer room for cosmetic updates, allowing a new owner to add value and maximize rents, while the basement apartment has been recently updated. The 1st-floor and basement units are tenant-occupied on month-to-month leases, providing built-in cash flow with flexibility for future plans. The current rents being received are below market value. With the right updates, higher rental rates can be achieved. Situated in an area experiencing continued growth and public investment, the South End and Downtown corridors are seeing new development, infrastructure improvements, and community revitalization. Close to local shops, public transit, restaurants, parks, and government offices, this location offers strong long-term rental demand. A solid addition to any investment portfolio with room to add value.

9. 2026-01-19
   status Active 1152-char remark

   Show marketing remark (1152 chars)

   Discover a great investment opportunity in Albany's South End with this three-unit property located just minutes from Downtown Albany, the Empire State Plaza, the Albany Waterfront, and major highways. The 2nd-floor unit is vacant, offering an ideal option for an owner-occupant or immediate rental potential. The 1st-floor and 2nd-floor units offer room for cosmetic updates, allowing a new owner to add value and maximize rents, while the basement apartment has been recently updated. The 1st-floor and basement units are tenant-occupied on month-to-month leases, providing built-in cash flow with flexibility for future plans. The current rents being received are below market value. With the right updates, higher rental rates can be achieved. Situated in an area experiencing continued growth and public investment, the South End and Downtown corridors are seeing new development, infrastructure improvements, and community revitalization. Close to local shops, public transit, restaurants, parks, and government offices, this location offers strong long-term rental demand. A solid addition to any investment portfolio with room to add value.

10. 2026-01-06
    status Pending 1152-char remark

    Show marketing remark (1152 chars)

    Discover a great investment opportunity in Albany's South End with this three-unit property located just minutes from Downtown Albany, the Empire State Plaza, the Albany Waterfront, and major highways. The 2nd-floor unit is vacant, offering an ideal option for an owner-occupant or immediate rental potential. The 1st-floor and 2nd-floor units offer room for cosmetic updates, allowing a new owner to add value and maximize rents, while the basement apartment has been recently updated. The 1st-floor and basement units are tenant-occupied on month-to-month leases, providing built-in cash flow with flexibility for future plans. The current rents being received are below market value. With the right updates, higher rental rates can be achieved. Situated in an area experiencing continued growth and public investment, the South End and Downtown corridors are seeing new development, infrastructure improvements, and community revitalization. Close to local shops, public transit, restaurants, parks, and government offices, this location offers strong long-term rental demand. A solid addition to any investment portfolio with room to add value.

11. 2025-12-06
    listed $250,000 Active 1152-char remark

    Show marketing remark (1152 chars)

    Discover a great investment opportunity in Albany's South End with this three-unit property located just minutes from Downtown Albany, the Empire State Plaza, the Albany Waterfront, and major highways. The 2nd-floor unit is vacant, offering an ideal option for an owner-occupant or immediate rental potential. The 1st-floor and 2nd-floor units offer room for cosmetic updates, allowing a new owner to add value and maximize rents, while the basement apartment has been recently updated. The 1st-floor and basement units are tenant-occupied on month-to-month leases, providing built-in cash flow with flexibility for future plans. The current rents being received are below market value. With the right updates, higher rental rates can be achieved. Situated in an area experiencing continued growth and public investment, the South End and Downtown corridors are seeing new development, infrastructure improvements, and community revitalization. Close to local shops, public transit, restaurants, parks, and government offices, this location offers strong long-term rental demand. A solid addition to any investment portfolio with room to add value.

12. 2023-10-01
    historical Contingent
13. 2023-10-01
    historical
14. 2023-09-20
    listed $152,000 Active
15. 2015-05-20
    soldstatus $50,000

ⓘ 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: $4,727 · $394/mo
• Projected year-2 tax: $4,727 · $394/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 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: $48,456
• − Mortgage interest: −$14,004
• − Property taxes: −$4,727
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,876
• − Management: −$3,876
• − Depreciation: −$7,273
• Taxable income: $13,449
• Est. tax owed @ 24.0%: −$3,228
• After-tax cash flow: $13,343/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): 10,166
• Household income: $52,868
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 935.0

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 0.73)
• Race & ethnicity: Black 40% White 28% Hispanic / Latino 15% Two or more races 14% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 5%
• Common ancestry: Iranian 2% Romanian 1% Serbian 1%
• Foreign-born: 14% · Canada, Philippines, China
• Languages at home: 80% English-only · Spanish 10% Other Asian/Pacific 4% Arabic 1%

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: ▲ 38.05%
• Current HPI: 303.8939
• Rent YoY: ▲ 8.70%
• 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

+400.0% since first listed

9 events — show timeline

• 2026-05-11 Relisted — Global MLS
• 2026-01-31 Pending — Global MLS
• 2026-01-19 Relisted — Global MLS
• 2026-01-06 Pending — Global MLS
• 2025-12-06 Listed $250,000 Global MLS
• 2023-10-01 Contingent — Global MLS
• 2023-10-01 Listing Removed — Global MLS
• 2023-09-20 Listed $152,000 Global MLS
• 2015-05-20 Sold (Public Records) $50,000 Public Records

Property tax history

+12.2%/yr

Latest (2025): $4,727 · -46.8% YoY. Source: county tax records.