440 Summit Ave · Schenectady, NY 12307

$165,000

3 bd · 1.5 ba · 1,550 sqft · Land · 50 Days on market

Built 2026 Good condition 3,920 sqft lot $106/sqft · 30% below area Est $235k · 30% 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 +19.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0

Listing remarks

This newly constructed townhome, offered through the Affordable Homeownership Opportunity Program (AHOP), provides a modern and affordable path to homeownership for moderate-income first-time buyers. Designed with contemporary finishes and quality craftsmanship, the home offers both comfort and style at a budget-conscious price making it an ideal choice for those seeking long-term stability and equity in a growing community. Let us help you get into your dream home!

Key facts

• 2 parking spots
• Built 2026
• Listed 50 days

Property features AI

Exterior

• Parking: Two parking spaces
• Security: Carbon monoxide detectors; Fire alarm
• Utilities: Public water; Public sewer; Cable available
• Home design: Townhouse; New construction
• Construction: Shingle roof; Drywall and vinyl siding exterior; Concrete perimeter and slab foundation; Built with permanent foundation elements
• Exterior features: Paved driveway

Interior

• Kitchen: Range; Range hood; Dishwasher; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: Three bedrooms on the second level
• Flooring: Carpet; Linoleum
• Bathrooms: One full bathroom on the second level; One half bathroom on the first level
• Heating & cooling: Heat pump and electric heating; Ductless heating; Ductless cooling
• Interior features: High-speed internet; Radon mitigation system; Instant hot water; Tankless water heater; Low-E windows; Window screens and blinds; Egress window
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath land listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (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: 33 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 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: 1.01% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $234,941
• List price: $165,000
• Delta: -29.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 3.20×
• Total profit: $101,522
• Equity at exit: $148,645

10-year hold

• IRR: 24.2%
• Equity multiple: 7.27×
• Total profit: $289,867
• Equity at exit: $320,559

Cash invested: $46,200 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $183

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 84%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	23d	1	0.30mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$1,515	$1.47	13d	9	0.57mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	13d	1	0.66mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	23d	1	0.76mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	43d	1	0.82mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	0.97mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	43d	1	1.15mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	13d	1	1.22mi
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	18d	1	1.30mi
830 Plymouth Ave Schenectady, NY	2.0	1.0	1200	$1,700	$1.42	18d	1	1.33mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	43d	1	1.35mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	23d	1	1.36mi
1633 Carrie St Schenectady, NY	2.0	1.0	1200	$1,500	$1.25	43d	1	1.39mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	43d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $165,000 Active 50 DOM
2. 2026-06-17
   days on market $165,000 Active 49 DOM
3. 2026-06-16
   days on market $165,000 Active 48 DOM
4. 2026-06-15
   days on market $165,000 Active 47 DOM
5. 2026-06-14
   days on market $165,000 Active 45 DOM
6. 2026-06-13
   days on market $165,000 Active 44 DOM
7. 2026-06-10
   days on market $165,000 Active 42 DOM
8. 2026-06-09
   days on market $165,000 Active 41 DOM
9. 2026-06-08
   days on market $165,000 Active 40 DOM
10. 2026-06-07
    days on market $165,000 Active 39 DOM
11. 2026-06-03
    days on market $165,000 Active 35 DOM
12. 2026-06-02
    days on market $165,000 Active 34 DOM
13. 2026-06-01
    days on market $165,000 Active 33 DOM
14. 2026-05-31
    days on market $165,000 Active 32 DOM
15. 2026-05-31
    days on market $165,000 Active 31 DOM
16. 2026-04-29
    listed $165,000 Active 470-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,095
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$4,800
• Taxable loss: −$463
• Est. tax savings @ 24.0%: +$111
• After-tax cash flow: $2,303/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 · 1 photo

Good 80/100 None rehab

This newly constructed townhome is in excellent condition with no visible repairs needed. It offers a modern and affordable path to homeownership and is ideal for those seeking long-term stability and equity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Interior paint — Fresh paint can make the interior look new and attractive

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Interior paint — Fresh paint can make the interior look new and attractive ↑

ⓘ 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: 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): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

1 event — show timeline

• 2026-04-29 Listed $165,000 Global MLS