3323 Mcdonald Ave · Schenectady, NY 12304

$39,990

2 bd · 1.0 ba · 791 sqft · SingleFamily public records · 140 Days on market

Built 1950 0.39 ac lot ↓ 20% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Schenectady City owned property, code estimate $29,500. Great cozy home with a huge lot.

Key facts

• 0.39 acre lot
• 4 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 38.0% vs local median 6.3% in Schenectady — 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 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 106 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,191 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 4.22% ✓
• Cap rate: 38.03%
• Cash-on-cash: 113.33%
• DSCR: 6.04
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $181,139
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
435 Gifford Rd	0.15mi	3/1.0 (+1)	864 (+9%)	2mo	$139,999	$162	71
477 Bradford Rd	0.32mi	2/1.0	840 (+6%)	6mo	$215,000	$256	70
3342 Mcdonald Ave	0.05mi	3/1.0 (+1)	864 (+9%)	10mo	$181,000	$209	69
247 Chiswell Rd	0.40mi	2/1.0	875 (+11%)	2mo	$221,500	$253	62
428 Manchester Rd	0.18mi	2/1.5	870 (+10%)	21mo	$175,500	$202	56
3312 Maryvale Dr	0.32mi	2/1.0	864 (+9%)	19mo	$211,000	$244	54
3269 Maryvale Dr	0.37mi	2/1.5	896 (+13%)	14mo	$217,000	$242	47
309 Chiswell Rd	0.36mi	3/1.0 (+1)	875 (+11%)	18mo	$200,000	$229	46
2016 State St	0.70mi	3/1.0 (+1)	864 (+9%)	2mo	$80,000	$93	46
309 Manchester Rd	0.33mi	2/1.0	676 (-14%)	22mo	$182,000	$269	42
3078 Albany St	0.63mi	2/1.5	894 (+13%)	16mo	$190,000	$213	34

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: —
• Equity multiple: 6.44×
• Total profit: $60,898
• Equity at exit: $5,963

10-year hold

• IRR: —
• Equity multiple: 13.49×
• Total profit: $139,861
• Equity at exit: $3,458

Cash invested: $11,197 (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 12304

• Home prices YoY: -25.5%
• Active inventory: 106
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $1,058

Break-even live

Break-even rent $350

Max offer price $39,990

Occupancy floor 32%

Sensitivity live

Price	-10% $1,085	-5% $1,071	+0% $1,058	+5% $1,044	+10% $1,030
Rent	-10% $924	-5% $991	+0% $1,058	+5% $1,124	+10% $1,191
Rate	-1.0pp $1,078	-0.5pp $1,068	base $1,058	+0.5pp $1,047	+1.0pp $1,037

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: $9,998
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4208 Court Royale Schenectady, NY	2.0	1.0	860	$1,590	$1.85	14d	1	0.42mi
4219 Menga Dr Schenectady, NY	2.0	1.0	865	$1,775	$2.05	15d	1	0.48mi
66 Cordell Rd Schenectady, NY	2.0	1.0	744	$1,900	$2.55	44d	1	0.78mi
103 Kings Rd Unit 106 Schenectady, NY	2.0	2.0	1100	$1,450	$1.32	15d	1	0.84mi

Listing history 9 events

1. 2023-12-06
   status Pending
2. 2023-11-17
   status Active
3. 2023-10-03
   status Pending
4. 2023-06-01
   listed $39,990 Active
5. 2023-05-19
   historical
6. 2023-01-31
   listed $100,000 Active
7. 2021-05-06
   soldstatus $38,000 Closed (Final Sale) 88-char remark

   Show marketing remark (88 chars)

   Schenectady City owned property, code estimate $29,500. Great cozy home with a huge lot.

8. 2021-03-19
   status Pend (Under Cntr) 88-char remark

   Show marketing remark (88 chars)

   Schenectady City owned property, code estimate $29,500. Great cozy home with a huge lot.

9. 2020-11-25
   listed $50,000 New 88-char remark

   Show marketing remark (88 chars)

   Schenectady City owned property, code estimate $29,500. Great cozy home with a huge lot.

ⓘ 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 (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $20,261
• − Mortgage interest: −$2,240
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − Depreciation: −$1,163
• Taxable income: $12,816
• Est. tax owed @ 24.0%: −$3,076
• After-tax cash flow: $9,614/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: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

Amenities B- Commute A+ Cost of living A Crime F Employment D+ Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• City population: 141,369
• Population (ZIP): 22,027

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.18%
• Current HPI: 331.0288
• 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

-20.0% since first listed

9 events — show timeline

• 2023-12-06 Pending — Global MLS
• 2023-11-17 Relisted — Global MLS
• 2023-10-03 Pending — Global MLS
• 2023-06-01 Listed $39,990 Global MLS
• 2023-05-19 Listing Removed — Global MLS
• 2023-01-31 Listed $100,000 Global MLS
• 2021-05-06 Sold (MLS) $38,000 Global MLS
• 2021-03-19 Pending — Global MLS
• 2020-11-25 Listed $50,000 Global MLS

Property tax history

-0.0%/yr

Latest (2025): $5,418 · -30.5% YoY. Source: county tax records.