1012 2nd Ave · Troy, NY 12182

$119,900

2 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 11 Days on market

Built 1940 6,098 sqft lot Est $194k · 38% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Clean well kept cottage with many upgrades. This house has new siding and ceramic tile. A newer 200 amp service. Hardwood floors in the living room and a carport. Enjoy the big family room. It has a nice fenced in yard with a storage shed. Low taxes and priced to sell. Very Good Condition

Key facts

• Off street parking
• Enclosed bonus room
• Carport

Tags

• LARGE FENCED BACK YARD
• NEWER KITCHEN APPLIANCES
• ENCLOSED BONUS ROOM
• 200 AMP UPDATED ELECTRIC
• OFF STREET PARKING
• CARPORT

Property features AI

Exterior

• Parking: Two parking spaces total; Off-street parking; Carport; Driveway
• Utilities: Public water; Public sewer
• Home design: Single family residence; Level lot; private with road frontage
• Construction: Vinyl siding; Wood siding; Shingle roof; Combination foundation; Built/updated (updated/remodeled noted)
• Exterior features: Deck; Back yard fencing; Paved driveway

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Bedroom on the first floor
• Flooring: Carpet; Hardwood; Laminate; Linoleum
• Bathrooms: One full bathroom on the first floor; One half bathroom on the first floor
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Updated/remodeled condition; Sliding doors; Partial unfinished basement; Six total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 12.9% 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: schools C-, 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.
• Market conditions: 75 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $829 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y 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 $18k; list at $120k implies a 560% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1940 — 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 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: 1.57% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.70%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $194,376
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1014 2nd Ave	0.01mi	2/1.0	1,026 (-6%)	13mo	$106,500	$104	78
44 South St	0.52mi	2/1.0	1,129 (+3%)	7mo	$230,000	$204	64
311 Hudson Ave	0.33mi	3/1.0 (+1)	1,152 (+6%)	8mo	$205,000	$178	64
338 Hudson Ave	0.24mi	3/1.0 (+1)	1,178 (+8%)	10mo	$149,850	$127	63
45 6th St	0.55mi	3/2.0 (+1)	1,056 (-3%)	4mo	$85,000	$80	56
4 Bechard Ln	0.70mi	3/1.5 (+1)	1,008 (-8%)	2mo	$281,000	$279	46
143 New Turnpike Rd	0.50mi	3/1.0 (+1)	1,001 (-8%)	15mo	$245,000	$245	45
1184 River Rd	0.65mi	2/1.0	1,170 (+7%)	15mo	$200,000	$171	45
786 4th Ave	0.70mi	2/1.0	1,000 (-8%)	10mo	$42,000	$42	45
175 New Turnpike Rd	0.65mi	3/2.0 (+1)	1,152 (+6%)	13mo	$250,000	$217	41
831 6th Ave	0.56mi	3/2.0 (+1)	1,218 (+12%)	7mo	$245,000	$201	40
7 1st St	0.47mi	3/1.0 (+1)	1,247 (+14%)	14mo	$217,000	$174	38

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: 16.9%
• Equity multiple: 1.68×
• Total profit: $22,836
• Equity at exit: $17,877

10-year hold

• IRR: 25.4%
• Equity multiple: 3.22×
• Total profit: $74,387
• Equity at exit: $10,367

Cash invested: $33,572 (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: 75
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,888 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $663

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 60%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Parker Ln Unit 5 Waterford, NY	2.0	2.5	1500	$2,800	$1.87	14d	1	0.41mi
112 Broad St Unit 4 Waterford, NY	2.0	2.0	1000	$1,800	$1.80	14d	1	0.53mi
811 6th Ave #2 Troy, NY	2.0	1.0	950	$1,500	$1.58	14d	1	0.59mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,263	$1.07	14d	1	0.70mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	14d	13	1.10mi
589 1st Ave Troy, NY	2.0	1.0	960	$1,750	$1.82	14d	1	1.11mi
580 2nd Ave Troy, NY	1.0	1.5	1000	$1,500	$1.50	23d	1	1.13mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	14d	1	1.36mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	19d	1	1.36mi
499 6th Ave Troy, NY	2.0	1.0	750	$1,250	$1.67	21d	1	1.39mi

Listing history 9 events

1. 2026-05-15
   status Pending
2. 2026-05-04
   listed $119,900 Active
3. 2016-10-26
   soldstatus $18,177
4. 2007-10-12
   soldstatus $91,000
5. 2007-10-04
   soldstatus $91,000 290-char remark

   Show marketing remark (290 chars)

   Clean well kept cottage with many upgrades. This house has new siding and ceramic tile. A newer 200 amp service. Hardwood floors in the living room and a carport. Enjoy the big family room. It has a nice fenced in yard with a storage shed. Low taxes and priced to sell. Very Good Condition

6. 2007-07-17
   historical 290-char remark

   Show marketing remark (290 chars)

   Clean well kept cottage with many upgrades. This house has new siding and ceramic tile. A newer 200 amp service. Hardwood floors in the living room and a carport. Enjoy the big family room. It has a nice fenced in yard with a storage shed. Low taxes and priced to sell. Very Good Condition

7. 2007-07-05
   listed $89,500 290-char remark

   Show marketing remark (290 chars)

   Clean well kept cottage with many upgrades. This house has new siding and ceramic tile. A newer 200 amp service. Hardwood floors in the living room and a carport. Enjoy the big family room. It has a nice fenced in yard with a storage shed. Low taxes and priced to sell. Very Good Condition

8. 1996-11-01
   soldstatus $40,450
9. 1994-12-14
   soldstatus $25,000

ⓘ 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 6/10 Major FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 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: $22,659
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$3,488
• Taxable income: $6,432
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $6,414/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

+379.6% since first listed

9 events — show timeline

• 2026-05-15 Pending — Global MLS
• 2026-05-04 Listed $119,900 Global MLS
• 2016-10-26 Sold (Public Records) $18,177 Public Records
• 2007-10-12 Sold (Public Records) $91,000 Public Records
• 2007-10-04 Sold (MLS) $91,000 Global MLS
• 2007-07-17 Listing Removed — Global MLS
• 2007-07-05 Listed $89,500 Global MLS
• 1996-11-01 Sold (Public Records) $40,450 Public Records
• 1994-12-14 Sold (Public Records) $25,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $9,404 · -2.6% YoY. Source: county tax records.