1 Holmes Ct · Albany, NY 12209

$199,000

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 4 Days on market

Built 1930 5,227 sqft lot Est $238k · 16% under

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Why this score? — see what drove the D+ 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).

• ARV discount +14.9/15.0
• Cash flow +13.0/30.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a find - this adorable little ranch is conveniently located and priced to sell. Three bedrooms, full basement and just a little elbow grease will make this house your home! Wood floors throughout, large kitchen and walk in closets. Subject to third party approval. Very Good Condition

Key facts

• Top schools
• Large back yard
• Shopping

Tags

• HARDWOOD FLOORS
• LARGE BACK YARD
• TOP SCHOOLS
• SHOPPING
• DINING
• MAJOR COMMUTER ROUTES

Property features AI

Exterior

• Parking: Three parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story (single level listed rooms are on the first floor)
• Construction: Vinyl siding
• Exterior features: Lot about 0.12 acre

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three first-floor bedrooms
• Flooring: Wood flooring
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Natural gas heating; Radiant heat
• Interior features: Six total rooms; Full basement; Wood flooring throughout

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-10 ($-124/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (3.7% below list).
• Recommended offer: $192k (3.7% below list) — sets the bar for 1% rule.

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: 47 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 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 $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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y 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 $85k; list at $199k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,649 (3.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $237,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Sard Rd	0.17mi	3/2.0	980 (+0%)	6mo	$165,000	$168	82
39 Clayton Pl	0.27mi	2/1.0 (-1)	960 (-2%)	3mo	$245,000	$255	77
65 Rose Ct	0.12mi	3/2.0	1,106 (+13%)	5mo	$275,000	$249	64
106 Edgecomb St	0.16mi	3/2.0	1,101 (+13%)	4mo	$265,000	$241	64
133 Ramsey Pl	0.42mi	3/1.5	1,053 (+8%)	6mo	$270,000	$256	60
60 Dartmouth St	0.18mi	3/2.0	1,106 (+13%)	7mo	$293,500	$265	60
177 Hollywood Ave	0.56mi	2/1.0 (-1)	902 (-8%)	1mo	$220,000	$244	56
357 Mountain St	0.56mi	3/1.0	1,054 (+8%)	9mo	$197,500	$187	53
326 Mountain St	0.66mi	3/1.5	1,080 (+11%)	4mo	$205,000	$190	46
11 Norfolk St	0.68mi	3/1.5	1,080 (+11%)	6mo	$255,000	$236	43
105 Kenosha St	0.57mi	2/1.0 (-1)	836 (-14%)	6mo	$206,000	$246	40
304 Mccarty Ave	0.72mi	2/1.0 (-1)	1,118 (+15%)	8mo	$195,000	$174	30

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-32,782
• Equity at exit: $29,672

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-28,901
• Equity at exit: $17,206

Cash invested: $55,720 (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 12209

• Home prices YoY: -7.3%
• Active inventory: 47
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,916 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$398 /mo · $4,774/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-10

Break-even live

Break-even rent $1,930

Max offer price $197,181

Occupancy floor 96%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	43d	1	0.36mi
86 Hackett Blvd Albany, NY	2.0	1.0	1100	$1,900	$1.73	23d	1	0.43mi
42 Harris Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.58mi
31 Bertha St Albany, NY	4.0	1.0	1116	$2,000	$1.79	23d	1	0.64mi
13 W Van Vechten St Albany, NY	2.0	1.0	640	$1,100	$1.72	43d	1	0.76mi
35 Parkwood St Albany, NY	2.0	1.0	900	$1,495	$1.66	23d	1	0.99mi
6A Weis Rd Albany, NY	2.0	1.0	900	$1,610	$1.79	14d	1	1.05mi
521 Warren St Albany, NY	2.0	1.0	850	$2,300	$2.71	14d	1	1.07mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	43d	1	1.13mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	1.16mi
563 New Scotland Ave Albany, NY	2.0	1.0–2.0	931	$3,125	$3.36	14d	37	1.16mi
271 S Allen St Apt 3 Albany, NY	2.0	1.0	700	$1,695	$2.42	14d	1	1.22mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	21d	1	1.26mi
504 Morris St Albany, NY	2.0	1.0	720	$1,395	$1.94	23d	1	1.28mi
504 Morris St Albany, NY	2.0	1.0	720	$1,450	$2.01	43d	1	1.28mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	43d	1	1.31mi
800 Madison Ave Albany, NY	1.0–2.0	1.0	800	$1,650	$2.06	14d	2	1.32mi
4 Irving St Unit 2nd Floor Albany, NY	3.0	1.0	1000	$1,695	$1.70	43d	1	1.40mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	23d	1	1.42mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	1.42mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	1.43mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	43d	1	1.43mi
517 Hamilton St Albany, NY	4.0	1.0	1020	$2,000	$1.96	23d	1	1.46mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	43d	1	1.47mi
341 Madison Ave Albany, NY	2.0	1.0	1000	$1,800	$1.80	14d	1	1.50mi

Listing history 5 events

1. 2026-06-18
   days on market $199,000 Active 4 DOM
2. 2026-06-17
   days on market $199,000 Active 3 DOM
3. 2026-06-16
   days on market $199,000 Active 2 DOM
4. 2026-06-15
   remarks 394-char remark
5. 2026-06-15
   listed $199,000 Active 1 DOM

ⓘ 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: $4,774 · $398/mo
• Projected year-2 tax: $4,774 · $398/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 ≥99°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: $22,998
• − Mortgage interest: −$11,147
• − Property taxes: −$4,774
• − Insurance: −$995
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$5,789
• Taxable loss: −$3,387
• Est. tax savings @ 24.0%: +$813
• After-tax cash flow: $689/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
• City population: 116,921
• Population (ZIP): 10,754

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 46% Black 23% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Serbian 1%
• Foreign-born: 18% · Canada, Philippines, South Korea
• Languages at home: 77% English-only · Spanish 13% Other Asian/Pacific 3% Tagalog/Filipino 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: ▼ -24.91%
• Current HPI: 318.0191
• 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

+362.8% since first listed

15 events — show timeline

• 2026-06-14 Listed $199,000 Global MLS
• 2026-01-23 Listing Removed — Global MLS
• 2025-12-16 Price Changed $199,000 Global MLS
• 2025-12-05 Listed $209,000 Global MLS
• 2016-10-06 Sold (Public Records) $85,000 Public Records
• 2016-09-29 Sold (MLS) $85,000 Global MLS
• 2016-08-17 Pending — Global MLS
• 2016-05-24 Price Changed $100,000 Global MLS
• 2016-05-23 Relisted — Global MLS
• 2016-03-08 Pending — Global MLS
• 2016-02-01 Listed $89,900 Global MLS
• 2006-05-24 Sold (Public Records) $140,450 Public Records
• 2003-01-31 Sold (MLS) $53,010 Global MLS
• 2003-01-21 Listing Removed — Global MLS
• 2002-11-07 Listed $43,000 Global MLS

Property tax history

-1.0%/yr

Latest (2025): $4,774 · +1.9% YoY. Source: county tax records.