193 Livingston Ave · Albany, NY 12210

$199,900

3 bd · 2.5 ba · 2,244 sqft · MultiFamily public records · 11 Days on market

Built 1870 3,049 sqft lot Est $186k · 7% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.2/15.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Two family with 2 bedrooms in each flat. Updates include: bathrooms, kitchens, boiler, flooring, windows, laundry, electrical, plumbing, roof and more! All done in last 6 years. 1st floor recently vacant and 2nd floor pays $1,313. ROPs just refreshed for 2 years. US HUD Fair market rental price for zip code 12210 for 2026 on a 2 bedroom flat is $1,580 per month.

Key facts

• Boiler
• Kitchens
• Flooring

Tags

• BATHROOMS
• KITCHENS
• BOILER
• FLOORING
• WINDOWS
• LAUNDRY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $615/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 13.7% 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 (+6.9%/yr); 70 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,328/mo this rent would consume 72% of the median local household income ($56k/yr) (locally 1211% 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.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $55k; list at $200k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.66% ✓
• Cap rate: 13.67%
• Cash-on-cash: 26.36%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $186,252
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
193 Livingston Ave	0.00mi	4/2.0 (+1)	2,244 (0%)	1mo	$194,000	$86	92
39-47 Ten Broeck Pl	0.17mi	3/2.5	1,936 (-14%)	5mo	$160,000	$83	65
357 Clinton Ave	0.41mi	4/2.0 (+1)	2,218 (-1%)	23mo	$175,000	$79	53
185 Clinton Ave	0.25mi	4/3.0 (+1)	1,998 (-11%)	16mo	$285,600	$143	50
292 1st St	0.46mi	4/2.0 (+1)	2,100 (-6%)	18mo	$42,500	$20	46
179 Lancaster St	0.70mi	3/3.0	2,016 (-10%)	5mo	$200,000	$99	44
364 Clinton Ave	0.47mi	3/3.0	2,520 (+12%)	15mo	$225,000	$89	43
58 Judson St	0.62mi	4/2.0 (+1)	2,408 (+7%)	17mo	$55,000	$23	38
71 Lexington Ave	0.60mi	4/2.0 (+1)	2,136 (-5%)	24mo	$120,000	$56	38
316 1st St	0.54mi	4/3.5 (+1)	1,950 (-13%)	16mo	$154,000	$79	30
356 2nd St	0.67mi	4/2.0 (+1)	2,028 (-10%)	19mo	$90,000	$44	30
432 Clinton Ave	0.59mi	4/3.0 (+1)	2,543 (+13%)	21mo	$241,000	$95	26

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 · 6.86% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.06×
• Total profit: $59,392
• Equity at exit: $29,806

10-year hold

• IRR: 34.7%
• Equity multiple: 4.80×
• Total profit: $212,445
• Equity at exit: $17,284

Cash invested: $55,972 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,328 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$268 /mo · $3,218/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$699
• Net cashflow: $1,229

Break-even live

Break-even rent $1,772

Max offer price $199,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,328
Total (2 units)			$3,328

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	23d	1	0.27mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	43d	1	0.31mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	21d	1	0.40mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	43d	1	0.61mi
41 Dove St Albany, NY	2.0	2.5	2400	$2,350	$0.98	14d	1	0.64mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	14d	17	0.66mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	23d	1	0.71mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	43d	1	0.75mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.90mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	1.04mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	43d	1	1.09mi
1556 1st St Rensselaer, NY	2.0	1.0	2178	$1,600	$0.73	14d	1	1.10mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	14d	1	1.12mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	43d	1	1.15mi
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	43d	1	1.18mi
624 N Pearl St Unit 1st floor Albany, NY	4.0	2.0	1800	$1,950	$1.08	14d	1	1.21mi
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	18d	1	1.27mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	43d	1	1.30mi

Listing history 7 events

1. 2026-01-22
   status Pending
2. 2026-01-11
   listed $199,900 Active
3. 2011-05-13
   historical
4. 2010-05-12
   listed $59,900
5. 2009-01-09
   historical
6. 2008-01-08
   listed $59,900
7. 2000-08-04
   soldstatus $55,000

ⓘ 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: $3,218 · $268/mo
• Projected year-2 tax: $3,298 · $275/mo
• Expected delta: +$80/yr (+$7/mo · 2.5%)

ⓘ 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: $39,936
• − Mortgage interest: −$11,198
• − Property taxes: −$3,218
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,195
• − Management: −$3,195
• − Depreciation: −$5,815
• Taxable income: $12,315
• Est. tax owed @ 24.0%: −$2,956
• After-tax cash flow: $11,796/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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+263.5% since first listed

7 events — show timeline

• 2026-01-22 Pending — Global MLS
• 2026-01-11 Listed $199,900 Global MLS
• 2011-05-13 Listing Removed — Global MLS
• 2010-05-12 Listed $59,900 Global MLS
• 2009-01-09 Listing Removed — Global MLS
• 2008-01-08 Listed $59,900 Global MLS
• 2000-08-04 Sold (Public Records) $55,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $3,218 · +5.9% YoY. Source: county tax records.