1 Sheldon Ave · Troy, NY 12180

$294,900

3 bd · 2.0 ba · 3,179 sqft · MultiFamily public records · 8 Days on market

Built 1895 0.27 ac lot

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Why this score? — see what drove the C+ 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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

* MO - B & F TUESDAY 5/26 at 5pm * Your next Investment Property just came on the market. Welcome to 1 Sheldon! A rare find full of charm, history and updates, 1 Sheldon has it ALL including a whole separate 3rd floor bonus space full of potential. Don't be deceived by the 3/4 bedrooms. This massive almost 3200Sqft multiunit has an additional 3rd floor + an attic and a full basement. Both units are Month to Month longer term tenants. New Roof, New windows, 2 new HW heaters and new plumbing. Sheldon has a sprinkler system, W+D separate for both units, a huge corner lot on . 27 acres and private driveway ready for a garage if desired. Check out the spacious floor plans and a list of upda

Key facts

• New plumbing
• Full basement
• New hw heaters

Tags

• 3RD FLOOR BONUS SPACE
• FULL BASEMENT
• NEW ROOF
• NEW WINDOWS
• NEW HW HEATERS
• NEW PLUMBING

Property features AI

Finance

• Other: Property located at corner of Pawling & Sheldon
• Financial info: Multi-family (2-unit) property where tenants pay heat, internet, cable TV, and gas

Exterior

• Parking: Space for 6 vehicles total; Off-street paved driveway parking
• Security: Smoke detectors installed
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Living area approximately 3,179; 159.5 x 75 lot dimensions
• Construction: Brick and shingle siding exterior; Rubber and asphalt roofing
• Exterior features: Covered porch and rear porch; Patio/porch areas; Sprinklers in front and rear; Landscaped yard; Corner lot

Interior

• Kitchen: Each unit has a kitchen
• Bedrooms: Unit 1: 2 bedrooms (1st floor); Unit 2: 1 bedroom (2nd floor)
• Flooring: Slate; Hardwood; Laminate
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bath (1st floor); Unit 2: 1 full bath (2nd floor)
• Heating & cooling: Hot water heating; Window air conditioning units
• Interior features: High speed internet available; Built-in features; Screens on windows; Insulated windows; Bilco doors to the basement; Full basement
• Laundry & utility: Laundry in basement; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Cap rate 9.3% 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.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $3,714/mo this rent would consume 59% of the median local household income ($76k/yr) (locally 2698% 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 $2k of loan paydown is wiped out by about $9k 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 + 4.9% rent growth), your $83k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $294,900

Questions for the listing agent

1. Built in 1895 — 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: 1.26% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $6,877
• Equity at exit: $43,971

10-year hold

• IRR: 13.6%
• Equity multiple: 2.19×
• Total profit: $98,096
• Equity at exit: $25,498

Cash invested: $82,572 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $3,714 high
• Mortgage (P&I): −$1,546
• Tax from tax record: −$521 /mo · $6,254/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $744

Break-even live

Break-even rent $2,773

Max offer price $294,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,714
Total (2 units)			$3,714

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 2nd St Troy, NY	4.0	1.5	2442	$3,000	$1.23	21d	1	1.18mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$2,996	$1.66	14d	7	1.33mi

Listing history 2 events

1. 2026-05-31
   status $294,900 Pending 8 DOM
2. 2026-05-21
   listed $294,900 Active

ⓘ 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: $6,254 · $521/mo
• Projected year-2 tax: $6,254 · $521/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 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: $44,568
• − Mortgage interest: −$16,519
• − Property taxes: −$6,254
• − Insurance: −$1,474
• − Repairs & maintenance: −$3,565
• − Management: −$3,565
• − Depreciation: −$8,579
• Taxable income: $4,611
• Est. tax owed @ 24.0%: −$1,107
• After-tax cash flow: $7,816/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 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
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

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 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

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: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

1 event — show timeline

• 2026-05-21 Listed $294,900 Global MLS

Property tax history

+7.5%/yr

Latest (2025): $6,254 · -13.6% YoY. Source: county tax records.