3 Providence Pl · Albany, NY 12202

$209,000

5 bd · 2.0 ba · 2,021 sqft · SingleFamily · 5 Days on market

Built 1900 Fair condition 3,920 sqft lot Est $277k · 25% under

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Why this score? — see what drove the B+ 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 +25.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.2/5.0

Listing remarks MLS

This lovely 4 bedroom colonial is a must see for all investors or first time home buyers! Hardwood flooring, newer appliances, roof and furnace have both been replaced within the last 5 years. This characteristic home is located on a very quiet dead end street and is a short drive away from the surrounding colleges and hospitals. Schedule your showing today!!

Key facts

• Walk out basement
• 3,920 sq ft lot
• 5 parking spots

Tags

• WALK OUT BASEMENT
• UNFINISHED WALK UP ATTIC
• QUIET DEAD END STREET

Property features AI

Exterior

• Parking: Driveway with space for 5 vehicles
• Utilities: Public water; Public sewer
• Home design: Single family residence; Wood siding construction
• Construction: Block foundation
• Exterior features: Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Range; Microwave
• Bedrooms: Bedrooms on first and second floors (mix of first- and second-floor bedrooms)
• Flooring: Vinyl flooring; Hardwood flooring
• Bathrooms: 2 full bathrooms (one on the first floor, one on the second floor)
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas
• Interior features: 8 total rooms; Full walk-out basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $209k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $209k).
• Cap rate 9.0% 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.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.7%/yr); 58 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 15y 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 $125k; list at $209k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $209,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $276,877
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Hamilton St	0.42mi	5/2.0	2,028 (+0%)	3mo	$365,000	$180	77
16 Delaware Ter	0.26mi	5/1.5	2,040 (+1%)	15mo	$253,000	$124	72
8 Catalpa Dr	0.49mi	5/1.5	2,034 (+1%)	3mo	$287,600	$141	71
38 Dana Ave	0.35mi	5/2.0	2,152 (+6%)	20mo	$180,000	$84	56
18 Bertha St	0.66mi	5/2.0	1,946 (-4%)	9mo	$293,000	$151	56
19 Bleecker Pl	0.59mi	4/2.0 (-1)	2,070 (+2%)	13mo	$195,000	$94	53
34 Magnolia Ter	0.33mi	4/2.0 (-1)	2,142 (+6%)	22mo	$292,500	$137	51
24 Summit Ave	0.51mi	4/1.5 (-1)	1,820 (-10%)	8mo	$173,000	$95	46
124 2nd Ave	0.65mi	5/1.5	2,300 (+14%)	2mo	$85,000	$37	43
136 Chestnut St	0.60mi	4/3.5 (-1)	2,312 (+14%)	14mo	$505,000	$218	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 3.68×
• Total profit: $156,686
• Equity at exit: $188,284

10-year hold

• IRR: 30.7%
• Equity multiple: 9.03×
• Total profit: $469,634
• Equity at exit: $406,041

Cash invested: $58,520 (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 12202

• Home prices YoY: 14.3%
• Rents YoY: 8.7%
• Active inventory: 58
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,425 high
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $471

Break-even live

Break-even rent $1,828

Max offer price $209,000

Occupancy floor 76%

Sensitivity live

Price	-10% $616	-5% $543	+0% $471	+5% $399	+10% $327
Rent	-10% $280	-5% $375	+0% $471	+5% $567	+10% $663
Rate	-1.0pp $576	-0.5pp $524	base $471	+0.5pp $417	+1.0pp $362

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	15d	1	0.76mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	44d	1	0.93mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	44d	1	1.11mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	24d	1	1.27mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	45d	1	1.38mi
57 S Main Ave Albany, NY	4.0	1.0	2695	$1,600	$0.59	44d	1	1.45mi

Listing history 11 events

1. 2026-04-29
   status Pending
2. 2026-04-24
   listed $209,000 Active
3. 2013-09-27
   soldstatus $125,000 363-char remark

   Show marketing remark (363 chars)

   This lovely 4 bedroom colonial is a must see for all investors or first time home buyers! Hardwood flooring, newer appliances, roof and furnace have both been replaced within the last 5 years. This characteristic home is located on a very quiet dead end street and is a short drive away from the surrounding colleges and hospitals. Schedule your showing today!!

4. 2013-08-13
   historical 363-char remark

   Show marketing remark (363 chars)

   This lovely 4 bedroom colonial is a must see for all investors or first time home buyers! Hardwood flooring, newer appliances, roof and furnace have both been replaced within the last 5 years. This characteristic home is located on a very quiet dead end street and is a short drive away from the surrounding colleges and hospitals. Schedule your showing today!!

5. 2013-07-16
   listed $134,900 363-char remark

   Show marketing remark (363 chars)

   This lovely 4 bedroom colonial is a must see for all investors or first time home buyers! Hardwood flooring, newer appliances, roof and furnace have both been replaced within the last 5 years. This characteristic home is located on a very quiet dead end street and is a short drive away from the surrounding colleges and hospitals. Schedule your showing today!!

6. 2013-05-28
   historical
7. 2013-03-19
   listed $149,900
8. 2012-10-01
   historical
9. 2012-05-18
   listed $149,000
10. 2011-09-02
    historical
11. 2011-03-23
    listed $149,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 16 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: $29,096
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,328
• − Management: −$2,328
• − Depreciation: −$6,080
• Taxable income: $2,474
• Est. tax owed @ 24.0%: −$594
• After-tax cash flow: $5,060/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, focusing on updating the interior walls, fixtures, and cabinets to improve its resale and rental value.

Repairs flagged

• Major paint — extensive chipping and uneven surfaces
• Major bathroom fixtures — dated and worn-out
• Moderate kitchen cabinets — dated and in need of updating

Value-add opportunities

• Resale Paint interior walls — Fresh paint can significantly improve the home's appearance and value
• Rental Replace bathroom fixtures — Modern fixtures can attract renters and increase rental value
• Both Update kitchen cabinets — A fresh kitchen can attract both buyers and renters, improving both resale and rental potential

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · extensive chipping and uneven surfaces	Major	$15,000–50,000
bathroom fixtures · dated and worn-out	Major	$15,000–50,000
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can significantly improve the home's appearance and value ↑
• Rental Replace bathroom fixtures — Modern fixtures can attract renters and increase rental value ↑
• Both Update kitchen cabinets — A fresh kitchen can attract both buyers and renters, improving both resale and rental potential ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 10,166
• Household income: $52,868
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 935.0

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 0.73)
• Race & ethnicity: Black 40% White 28% Hispanic / Latino 15% Two or more races 14% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 5%
• Common ancestry: Iranian 2% Romanian 1% Serbian 1%
• Foreign-born: 14% · Canada, Philippines, China
• Languages at home: 80% English-only · Spanish 10% Other Asian/Pacific 4% Arabic 1%

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: ▲ 38.05%
• Current HPI: 303.8939
• Rent YoY: ▲ 8.70%
• 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

+39.4% since first listed

11 events — show timeline

• 2026-04-29 Pending — Global MLS
• 2026-04-24 Listed $209,000 Global MLS
• 2013-09-27 Sold (MLS) $125,000 Global MLS
• 2013-08-13 Listing Removed — Global MLS
• 2013-07-16 Listed $134,900 Global MLS
• 2013-05-28 Listing Removed — Global MLS
• 2013-03-19 Listed $149,900 Global MLS
• 2012-10-01 Listing Removed — Global MLS
• 2012-05-18 Listed $149,000 Global MLS
• 2011-09-02 Listing Removed — Global MLS
• 2011-03-23 Listed $149,900 Global MLS