1176 Tracy Ave · Schenectady, NY 12309

$150,000

3 bd · 1.0 ba · 1,250 sqft · SingleFamily public records · 33 Days on market

Built 1961 0.28 ac lot $120/sqft · 54% below area

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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 +19.4/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

1961 ranch situated on a large lot with detached garage. Features 3 bedrooms, 1 full bath, slab foundation, and public water/sewer. Property is being sold as-is with no interior access available. Buyer responsible for all due diligence. Great opportunity for investors, rehabbers, or cash buyers. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period.

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1961

Property features AI

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Built-up roof; Wood siding exterior
• Construction: Built with wood siding; Slab foundation
• Exterior features: Deck; Enclosed porch; Porch; Garden; Exterior lighting; Fenced yard; Private lot

Interior

• Kitchen: Refrigerator; Range / Oven; Microwave
• Bedrooms: Three first-floor bedrooms; One additional first-floor room listed as 'Other' (could be used as an office or flex space)
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Baseboard heating; Electric heating; Natural gas heating; Wood heating; Wall cooling units
• Interior features: High-speed internet available; Ceiling paddle fans; Wood-burning stove fireplace serving dining room and living room; Total of 7 rooms
• Laundry & utility: Washer and dryer included; Laundry located in common area and on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 6.3% in Schenectady — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents soft (-1.6%/yr); 164 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $150k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.37% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 6.1

CMA / ARV

• ARV (median comp): $323,189
• List price: $150,000
• Delta: -53.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1165 Cresse Ave	0.22mi	3/1.0	1,196 (-4%)	2mo	$287,000	$240	81
1229 Coplon Ave	0.14mi	3/1.5	1,358 (+9%)	1mo	$316,000	$233	76
1155 Coplon Ave	0.12mi	3/1.5	1,404 (+12%)	10mo	$295,000	$210	64
2105 Van Rensselaer Dr	0.58mi	3/1.0	1,200 (-4%)	10mo	$270,000	$225	58
2556 Van Vraken Ave	0.50mi	3/1.5	1,364 (+9%)	5mo	$299,900	$220	56
1719 Oneida St	0.74mi	3/1.5	1,334 (+7%)	3mo	$234,200	$176	50
2290 Van Rensselaer Dr	0.43mi	3/1.5	1,405 (+12%)	10mo	$403,000	$287	50
1807 Randolph Rd	0.57mi	3/1.5	1,368 (+9%)	10mo	$205,000	$150	47
1128 Raymond St	0.53mi	3/1.5	1,424 (+14%)	7mo	$310,000	$218	44
1920 Avenue B	0.55mi	4/2.0 (+1)	1,380 (+10%)	5mo	$150,000	$109	44
2240 Webster Dr	0.53mi	4/1.0 (+1)	1,392 (+11%)	9mo	$352,000	$253	44
2023 Mcclellan St	0.71mi	2/1.5 (-1)	1,134 (-9%)	5mo	$325,000	$287	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.54×
• Total profit: $-19,349
• Equity at exit: $22,365

10-year hold

• IRR: -12.4%
• Equity multiple: 0.40×
• Total profit: $-25,176
• Equity at exit: $12,969

Cash invested: $42,000 (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 12309

• Rents YoY: -1.6%
• Active inventory: 164
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,054 high
• Mortgage (P&I): −$787
• Tax from tax record: −$605 /mo · $7,266/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $168

Break-even live

Break-even rent $1,841

Max offer price $150,000

Occupancy floor 87%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Hillside Ave Niskayuna, NY	2.0	2.0	1130	$2,200	$1.95	14d	1	0.18mi
1165 Cresse Ave Schenectady, NY	3.0	1.0	1196	$2,800	$2.34	14d	1	0.22mi
1187 Hillside Ave Schenectady, NY	1.0–2.0	1.0–2.0	900	$1,599	$1.78	14d	1	0.22mi
2011 Ridge Manor Ct Niskayuna, NY	3.0	2.5	1440	$2,300	$1.60	43d	1	0.26mi
2150 Rosa Rd Schenectady, NY	2.0	1.0–2.0	768	$1,690	$2.20	14d	1	0.40mi
301 Connor Ct Niskayuna, NY	2.0	2.0	950	$1,650	$1.74	14d	1	0.52mi
540 Northend Dr Schenectady, NY	1.0–2.0	1.0	906	$1,725	$1.90	14d	3	0.57mi
1755 Avenue B Unit B Schenectady, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	0.72mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	14d	1	0.72mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	43d	1	0.84mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	43d	1	0.90mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	23d	1	1.00mi
1633 Carrie St Schenectady, NY	2.0	1.0	1200	$1,500	$1.25	43d	1	1.01mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	43d	1	1.25mi
54 Freemans Bridge Rd Schenectady, NY	2.0	1.0	1500	$2,000	$1.33	43d	1	1.27mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,445	$2.21	14d	1	1.39mi
5 Ledge Dr Schenectady, NY	1.0–2.0	1.0–2.0	1025	$2,900	$2.83	14d	6	1.43mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $150,000 Active 33 DOM
2. 2026-06-17
   days on market $150,000 Active 32 DOM
3. 2026-06-16
   days on market $150,000 Active 31 DOM
4. 2026-06-15
   days on market $150,000 Active 30 DOM
5. 2026-06-14
   days on market $150,000 Active 28 DOM
6. 2026-06-13
   days on market $150,000 Active 27 DOM
7. 2026-06-10
   days on market $150,000 Active 25 DOM
8. 2026-06-09
   days on market $150,000 Active 24 DOM
9. 2026-06-08
   days on market $150,000 Active 23 DOM
10. 2026-06-07
    days on market $150,000 Active 22 DOM
11. 2026-06-03
    days on market $150,000 Active 18 DOM
12. 2026-06-02
    days on market $150,000 Active 17 DOM
13. 2026-06-01
    days on market $150,000 Active 16 DOM
14. 2026-05-31
    days on market $150,000 Active 15 DOM
15. 2026-05-31
    days on market $150,000 Active 14 DOM
16. 2026-05-14
    listed $150,000 Active 558-char remark
17. 2023-12-29
    soldstatus $55,000
18. 2010-12-30
    historical
19. 2010-06-30
    listed $122,900
20. 2000-01-11
    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: $7,266 · $605/mo
• Projected year-2 tax: $7,266 · $605/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $24,644
• − Mortgage interest: −$8,402
• − Property taxes: −$7,266
• − Insurance: −$750
• − Repairs & maintenance: −$1,972
• − Management: −$1,972
• − Depreciation: −$4,364
• Taxable loss: −$81
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $2,033/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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 33,246
• Household income: $125,274
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 300.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Asian 9% Two or more races 8% Hispanic / Latino 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Iranian 3%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 2%

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: ▼ -228.63%
• Current HPI: 294.773
• Rent YoY: ▼ -1.55%
• 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

+172.7% since first listed

5 events — show timeline

• 2026-05-14 Listed $150,000 Global MLS
• 2023-12-29 Sold (Public Records) $55,000 Public Records
• 2010-12-30 Listing Removed — Global MLS
• 2010-06-30 Listed $122,900 Global MLS
• 2000-01-11 Sold (Public Records) $55,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $7,266 · +1.8% YoY. Source: county tax records.