254 3rd Ave · Troy, NY 12182

$199,900

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 57 Days on market

Built 1920 3,049 sqft lot $192/sqft · 15% below area Est $234k · 15% 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 +14.0/15.0
• Cash flow +9.0/30.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• 1% rule +2.7/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated 3 bedroom, 1 bath home in the heart of Lansingburgh! Thoughtfully refreshed throughout, this home features a long list of recent improvements including a newer boiler, hot water heater, updated lighting, flooring, windows, fresh paint, and modern appliances, making it truly move-in ready. The flexible layout offers a first-floor bedroom for convenience, with two additional bedrooms upstairs. Bright, inviting living spaces and great natural light make this home feel warm and welcoming from the moment you walk in. Enjoy peekaboo views of the Hudson River, adding a subtle but special touch. Outside, there is potential for off-street parking in the rear. Don't miss your chance to own a turnkey home with updates where it counts!

Key facts

• Fresh paint
• Newer boiler
• Updated windows

Tags

• NEWER BOILER
• HOT WATER HEATER
• UPDATED LIGHTING
• UPDATED FLOORING
• UPDATED WINDOWS
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (23.0% below list).
• Recommended offer: $154k (23.0% below list) — sets the bar for 1% rule.

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; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $6k 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 57 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $200k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,935 (23.0% 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. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.40%
• DSCR: 0.85
• GRM: 10.8

CMA / ARV

• ARV (median comp): $233,901
• List price: $199,900
• Delta: -14.54%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
331 6th Ave	0.26mi	3/1.0 (+1)	1,035 (-0%)	7mo	$155,000	$150	76
445 6th Ave	0.56mi	2/1.0	1,008 (-3%)	14mo	$209,000	$207	57
421 7th Ave	0.52mi	3/1.0 (+1)	1,120 (+8%)	10mo	$75,000	$67	49
37 111th St	0.54mi	2/1.0	900 (-14%)	11mo	$190,000	$211	43
44 109th St	0.37mi	3/2.0 (+1)	1,164 (+12%)	13mo	$209,900	$180	43
10 Grace Ct	0.58mi	3/1.0 (+1)	1,152 (+11%)	21mo	$215,000	$187	33
515 1st Ave	0.73mi	3/1.0 (+1)	1,152 (+11%)	24mo	$155,000	$135	23

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: -22.0%
• Equity multiple: 0.24×
• Total profit: $-42,469
• Equity at exit: $29,806

10-year hold

• IRR: -15.9%
• Equity multiple: 0.11×
• Total profit: $-49,903
• 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 12182

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,539 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$243 /mo · $2,916/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-159

Break-even live

Break-even rent $1,740

Max offer price $171,899

Occupancy floor —

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 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	21d	1	0.14mi
157 6th Ave Unit 2 Troy, NY	3.0	1.0	1300	$1,350	$1.04	18d	1	0.29mi
140 5th Ave Unit 2 Troy, NY	3.0	1.0	1200	$1,395	$1.16	23d	1	0.31mi
386 3rd Ave #1 Troy, NY	3.0	1.0	1024	$1,700	$1.66	14d	1	0.39mi
40 102nd St Apt 6 Troy, NY	2.0	1.0	1000	$1,200	$1.20	23d	1	0.42mi
1000 Hudson Sq Cohoes, NY	1.0	1.0	714	$1,750	$2.45	14d	3	0.47mi
415 7th Ave Unit 2 Troy, NY	3.0	1.0	850	$1,675	$1.97	14d	1	0.52mi
499 6th Ave Troy, NY	2.0	1.0	750	$1,250	$1.67	21d	1	0.72mi
3132-3134 6th Ave Troy, NY	2.0	1.0	950	$1,300	$1.37	23d	1	0.86mi
3132-3134 6th Ave Troy, NY	3.0	1.0	950	$1,350	$1.42	14d	1	0.86mi
3134 6th Ave Troy, NY	2.0	1.0	950	$1,280	$1.35	14d	1	0.86mi
171 Oakwood Ave Troy, NY	1.0	1.0	810	$1,613	$1.99	14d	2	0.93mi
580 2nd Ave Troy, NY	1.0	1.5	1000	$1,500	$1.50	23d	1	0.93mi
589 1st Ave Troy, NY	2.0	1.0	960	$1,750	$1.82	14d	1	0.96mi
338 Saratoga St Unit 2 Cohoes, NY	3.0	1.5	1200	$1,495	$1.25	43d	1	0.97mi
196 Main St Cohoes, NY	2.0	1.0	1200	$1,375	$1.15	23d	1	1.01mi
193 Congress St Unit 2 Cohoes, NY	2.0	2.0	968	$1,600	$1.65	14d	1	1.07mi
12 Stoneledge Dr Apt 1 Troy, NY	2.0	2.0	1210	$2,000	$1.65	43d	1	1.07mi
159 Main St #2 Cohoes, NY	3.0	1.0	950	$1,295	$1.36	14d	1	1.08mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	14d	13	1.10mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$1,998	$1.73	14d	4	1.11mi
129 Main St Cohoes, NY	2.0	1.0	1104	$1,350	$1.22	43d	1	1.11mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	14d	1	1.21mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	18d	1	1.21mi
362 9th St Unit 1st Floor Troy, NY	3.0	1.0	1156	$1,575	$1.36	18d	1	1.22mi
362 9th St Unit 1st Floor Troy, NY	3.0	1.0	1156	$1,575	$1.36	23d	1	1.22mi
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,345	$1.12	23d	1	1.23mi
113 Mohawk St Unit 1S Cohoes, NY	1.0	1.0	800	$1,350	$1.69	43d	1	1.26mi
137 Remsen St Unit 2R Cohoes, NY	1.0	1.0	700	$1,275	$1.82	43d	1	1.27mi
134 Remsen St Cohoes, NY	1.0	1.0	910	$1,550	$1.70	14d	1	1.29mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	14d	1	1.34mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,263	$1.07	14d	1	1.37mi
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$1,794	$2.08	14d	7	1.38mi
124 Columbia St Fl 2 Cohoes, NY	2.0	1.0	1200	$1,400	$1.17	14d	1	1.40mi

Listing history 31 events

1. 2026-06-18
   days on market $199,900 Active 57 DOM
2. 2026-06-17
   days on market $199,900 Active 56 DOM
3. 2026-06-16
   days on market $199,900 Active 55 DOM
4. 2026-06-15
   days on market $199,900 Active 54 DOM
5. 2026-06-14
   days on market $199,900 Active 52 DOM
6. 2026-06-10
   days on market $199,900 Active 49 DOM
7. 2026-06-09
   days on market $199,900 Active 48 DOM
8. 2026-06-08
   days on market $199,900 Active 47 DOM
9. 2026-06-07
   days on market $199,900 Active 46 DOM
10. 2026-06-05
    days on market $199,900 Active 43 DOM
11. 2026-06-03
    days on market $199,900 Active 42 DOM
12. 2026-06-02
    days on market $199,900 Active 41 DOM
13. 2026-06-01
    days on market $199,900 Active 40 DOM
14. 2026-05-31
    days on market $199,900 Active 39 DOM
15. 2026-05-31
    days on market $199,900 Active 38 DOM
16. 2026-04-22
    listed $220,000 Active 779-char remark

    Show marketing remark (779 chars)

    Welcome to this beautifully updated 3 bedroom, 1 bath home in the heart of Lansingburgh! Thoughtfully refreshed throughout, this home features a long list of recent improvements including a newer boiler, hot water heater, updated lighting, flooring, windows, fresh paint, and modern appliances, making it truly move-in ready. The flexible layout offers a first-floor bedroom for convenience, with two additional bedrooms upstairs. Bright, inviting living spaces and great natural light make this home feel warm and welcoming from the moment you walk in. Enjoy peekaboo views of the Hudson River, adding a subtle but special touch. Outside, there is potential for off-street parking in the rear. Don't miss your chance to own a turnkey home with updates where it counts!

17. 2022-05-23
    historical
18. 2022-04-14
    price $145,900
19. 2022-03-30
    status Active
20. 2022-03-21
    status Pending
21. 2022-03-17
    price $149,900
22. 2022-02-11
    listed $154,900 Active
23. 2018-10-02
    soldstatus $60,000
24. 2017-09-20
    soldstatus $30,000
25. 2017-05-24
    historical
26. 2016-12-23
    listed $50,000 New
27. 2000-09-13
    soldstatus $22,000
28. 2000-09-06
    soldstatus $22,000
29. 2000-07-14
    historical
30. 2000-02-24
    listed $29,900
31. 2000-02-01
    soldstatus $54,000

ⓘ 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: $2,916 · $243/mo
• Projected year-2 tax: $3,147 · $262/mo
• Expected delta: +$231/yr (+$19/mo · 7.9%)

ⓘ 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 · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 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: $18,472
• − Mortgage interest: −$11,198
• − Property taxes: −$2,916
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − Depreciation: −$5,815
• Taxable loss: −$5,412
• Est. tax savings @ 24.0%: +$1,299
• After-tax cash flow: $-603/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

+307.4% since first listed

16 events — show timeline

• 2026-04-22 Listed $220,000 Global MLS
• 2022-05-23 Listing Removed — Global MLS
• 2022-04-14 Price Changed $145,900 Global MLS
• 2022-03-30 Relisted — Global MLS
• 2022-03-21 Pending — Global MLS
• 2022-03-17 Price Changed $149,900 Global MLS
• 2022-02-11 Listed $154,900 Global MLS
• 2018-10-02 Sold (Public Records) $60,000 Public Records
• 2017-09-20 Sold (Public Records) $30,000 Public Records
• 2017-05-24 Listing Removed — Global MLS
• 2016-12-23 Listed $50,000 Global MLS
• 2000-09-13 Sold (MLS) $22,000 Global MLS
• 2000-09-06 Sold (Public Records) $22,000 Public Records
• 2000-07-14 Listing Removed — Global MLS
• 2000-02-24 Listed $29,900 Global MLS
• 2000-02-01 Sold (Public Records) $54,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $2,916 · +1.3% YoY. Source: county tax records.