370 Clinton Ave · Albany, NY 12206

$399,000

6 bd · 3.0 ba · 2,652 sqft · MultiFamily public records · 52 Days on market

Built 1872 1,742 sqft lot $150/sqft · 41% above area Est $282k · 41% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

A rare & exciting opportunity to own this beautifully renovated/maintained triplex located within the revitalizing/vibrant Clinton Ave/downtown Albany corridor. Walkable to state & legislative institutions, Albany Medical Center, Center Square/Lark St, Washington Park/Ten Broeck Neighborhood/Mansion, The Palace, public transportation, popular eateries, galleries, coffee shops, nightlife and an array of other city attractions. This particular address was gutted and everything is 5 years young. Attractive features include spacious units offering high ceilings, oversized windows, open concept, stone countertops, SS appliances, off-street parking, soaking tub & more. Separate utilities with low taxes, expenses & high efficiency in place make for an attractive investment. Owners starting to get $1,700+/month per unit. Can be purchased separately OR with 372 Clinton Ave & 389 Orange St parcel - DEEDED INDIVIDUALLY. Completely turnkey and ready to be traded with confidence.

Key facts

• Renovated triplex
• Open concept
• Stone countertops

Tags

• RENOVATED TRIPLEX
• HIGH EFFICIENCY UTILITIES
• SPACIOUS UNITS
• OVERSIZED WINDOWS
• OPEN CONCEPT
• STONE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $535/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,308/mo this rent would consume 153% of the median local household income ($42k/yr) (locally 2035% 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 $3k of loan paydown is wiped out by about $12k 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 + 5.4% rent growth), your $112k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y 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 $15k; list at $399k implies a 2560% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1872 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1872 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.33% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.25%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

• ARV (median comp): $282,234
• List price: $399,000
• Delta: 41.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
362 Clinton Ave	0.01mi	7/4.0 (+1)	2,490 (-6%)	2mo	$270,000	$108	79
211 Clinton Ave	0.39mi	5/3.0 (-1)	2,640 (-0%)	4mo	$250,000	$95	73
469 Clinton Ave	0.20mi	5/3.0 (-1)	2,520 (-5%)	6mo	$239,000	$95	72
314-316 Orange St	0.17mi	6/2.0	2,475 (-7%)	6mo	$126,000	$51	72
221 Livingston Ave	0.43mi	5/2.0 (-1)	2,665 (+0%)	6mo	$124,900	$47	65
10 Wilkins Ave	0.34mi	6/2.0	2,294 (-14%)	1mo	$280,000	$122	57
79 1st St	0.53mi	5/3.0 (-1)	2,516 (-5%)	8mo	$275,000	$109	55
534 1st St	0.62mi	6/2.0	2,464 (-7%)	0mo	$175,000	$71	55
558 Washington Ave	0.73mi	7/3.0 (+1)	2,562 (-3%)	3mo	$325,000	$127	53
189-B Quail St	0.71mi	6/2.0	2,512 (-5%)	3mo	$185,000	$74	52
409 Elk St	0.42mi	5/2.0 (-1)	2,312 (-13%)	8mo	$126,000	$54	44
497 3rd St	0.70mi	6/2.0	2,412 (-9%)	7mo	$223,000	$92	43

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.45×
• Total profit: $50,550
• Equity at exit: $59,492

10-year hold

• IRR: 21.9%
• Equity multiple: 3.07×
• Total profit: $231,426
• Equity at exit: $34,498

Cash invested: $111,720 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $5,308 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$329 /mo · $3,947/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,115
• Net cashflow: $1,606

Break-even live

Break-even rent $3,275

Max offer price $399,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,832	-5% $1,719	+0% $1,606	+5% $1,493	+10% $1,380
Rent	-10% $1,186	-5% $1,396	+0% $1,606	+5% $1,815	+10% $2,025
Rate	-1.0pp $1,807	-0.5pp $1,707	base $1,606	+0.5pp $1,502	+1.0pp $1,397

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,307
Total (3 units)			$5,308

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-05-31
   days on market $399,000 Active 52 DOM
2. 2026-05-31
   days on market $399,000 Active 51 DOM
3. 2026-04-09
   listed $399,000 Active 1008-char remark

   Show marketing remark (1008 chars)

   A rare & exciting opportunity to own this beautifully renovated/maintained triplex located within the revitalizing/vibrant Clinton Ave/downtown Albany corridor. Walkable to state & legislative institutions, Albany Medical Center, Center Square/Lark St, Washington Park/Ten Broeck Neighborhood/Mansion, The Palace, public transportation, popular eateries, galleries, coffee shops, nightlife and an array of other city attractions. This particular address was gutted and everything is 5 years young. Attractive features include spacious units offering high ceilings, oversized windows, open concept, stone countertops, SS appliances, off-street parking, soaking tub & more. Separate utilities with low taxes, expenses & high efficiency in place make for an attractive investment. Owners starting to get $1,700+/month per unit. Can be purchased separately OR with 372 Clinton Ave & 389 Orange St parcel - DEEDED INDIVIDUALLY. Completely turnkey and ready to be traded with confidence.

4. 2025-09-20
   historical $1,487
5. 2025-07-25
   listed $1,487
6. 2025-07-25
   historical $1,487
7. 2025-07-03
   listed $1,487
8. 2025-07-02
   historical $1,487
9. 2025-04-11
   listed $1,487
10. 2025-04-11
    historical $1,487
11. 2025-04-10
    listed $1,487
12. 2025-04-01
    historical $1,487
13. 2025-01-07
    listed $1,487
14. 2024-12-05
    historical $1,487
15. 2024-12-05
    listed $1,487
16. 2023-08-15
    status Active
17. 2023-08-07
    historical Contingent
18. 2023-08-07
    historical
19. 2023-04-24
    listed $375,000 Active
20. 2010-02-13
    historical
21. 2008-03-27
    listed $20,000
22. 2005-12-09
    soldstatus $15,000
23. 2005-03-17
    listed $20,000

ⓘ 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: $3,947 · $329/mo
• Projected year-2 tax: $5,345 · $445/mo
• Expected delta: +$1,398/yr (+$117/mo · 35.4%)

ⓘ 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 · 17 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: $63,696
• − Mortgage interest: −$22,350
• − Property taxes: −$3,947
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,096
• − Management: −$5,096
• − Depreciation: −$11,607
• Taxable income: $13,606
• Est. tax owed @ 24.0%: −$3,265
• After-tax cash flow: $16,004/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+1895.0% since first listed

21 events — show timeline

• 2026-04-09 Listed $399,000 Global MLS
• 2025-09-20 Rental Removed $1,487 GLOBALMLS
• 2025-07-25 Listed for Rent $1,487 GLOBALMLS
• 2025-07-25 Rental Removed $1,487 RENTSPREE
• 2025-07-03 Listed for Rent $1,487 RENTSPREE
• 2025-07-02 Rental Removed $1,487 GLOBALMLS
• 2025-04-11 Listed for Rent $1,487 GLOBALMLS
• 2025-04-11 Rental Removed $1,487 RENTSPREE
• 2025-04-10 Listed for Rent $1,487 RENTSPREE
• 2025-04-01 Rental Removed $1,487 GLOBALMLS
• 2025-01-07 Listed for Rent $1,487 GLOBALMLS
• 2024-12-05 Rental Removed $1,487 GLOBALMLS
• 2024-12-05 Listed for Rent $1,487 GLOBALMLS
• 2023-08-15 Relisted — Global MLS
• 2023-08-07 Contingent — Global MLS
• 2023-08-07 Listing Removed — Global MLS
• 2023-04-24 Listed $375,000 Global MLS
• 2010-02-13 Listing Removed — Global MLS
• 2008-03-27 Listed $20,000 Global MLS
• 2005-12-09 Sold (MLS) $15,000 Global MLS
• 2005-03-17 Listed $20,000 Global MLS

Property tax history

+14.5%/yr

Latest (2025): $3,947 · -0.7% YoY. Source: county tax records.