839 5th St · Rensselaer, NY 12144

$59,950

3 bd · 1.0 ba · 1,111 sqft · SingleFamily public records · 17 Days on market

Built 1930 3,920 sqft lot $54/sqft · 72% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in the heart of Rensselaer! This 2 bedroom, 1 bath home offers 1,111 sq ft of living space and is full of potential for the right buyer. Built in 1930, the property features an enclosed and sits on a manageable 0.09 acre lot with public water and sewer. First time offered to the market, this home is ready for updates and renovation ideal for investors, flippers, or owner-occupants looking to build equity. Conveniently located near local amenities, shopping, and major roadways.

Key facts

• Enclosed
• Public sewer
• Manageable lot

Tags

• ENCLOSED
• MANAGEABLE LOT
• PUBLIC WATER
• PUBLIC SEWER
• LOCAL AMENITIES
• SHOPPING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Aluminum siding
• Construction: Shingle roof
• Exterior features: Patio; Chain-link fence

Interior

• Kitchen: First-floor kitchen
• Bedrooms: Two first-floor bedrooms
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Natural gas heating
• Interior features: Five total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $944 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.2% vs local median 5.0% in Rensselaer — 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 77/100 on livability (#191 in NY, #2,967 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime D+.
• Rensselaer City School District (suburban): math 28% / reading 34% proficiency, ranked #574 of 590 in NY (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 102 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($59k) 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: property tax is 4.7% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,050 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 3.20% ✓
• Cap rate: 25.18%
• Cash-on-cash: 67.47%
• DSCR: 4.00
• GRM: 2.6

CMA / ARV

• ARV (median comp): $213,667
• List price: $59,950
• Delta: -71.94%
• 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
1212 3rd St	0.27mi	3/1.0	1,114 (+0%)	6mo	$113,000	$101	82
1016 4th St	0.13mi	2/1.0 (-1)	1,010 (-9%)	4mo	$172,000	$170	70
1046 1st St	0.24mi	2/2.0 (-1)	1,130 (+2%)	8mo	$180,000	$159	70
847 3rd St	0.10mi	2/1.0 (-1)	1,196 (+8%)	11mo	$270,000	$226	68
831 7th St	0.10mi	2/2.0 (-1)	1,200 (+8%)	7mo	$189,000	$158	67
35 Pine St	0.28mi	3/1.0	1,205 (+8%)	9mo	$259,900	$216	66
204 3rd Ave Ext	0.68mi	3/1.0	1,104 (-1%)	3mo	$320,000	$290	65
1015 1st St	0.23mi	3/1.5	1,240 (+12%)	10mo	$175,000	$141	60
155 3rd Ave	0.65mi	2/1.0 (-1)	1,100 (-1%)	9mo	$175,000	$159	55
70 Fowler Ave	0.57mi	2/1.0 (-1)	1,025 (-8%)	4mo	$193,000	$188	52
8 Plum St	0.64mi	3/1.0	1,218 (+10%)	9mo	$205,000	$168	47
1512 Broadway	0.65mi	3/1.0	1,272 (+14%)	1mo	$215,000	$169	45

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 · 0.9% rent growth · sell at horizon

5-year hold

• IRR: 64.2%
• Equity multiple: 3.77×
• Total profit: $46,550
• Equity at exit: $8,939

10-year hold

• IRR: 67.9%
• Equity multiple: 7.13×
• Total profit: $102,819
• Equity at exit: $5,183

Cash invested: $16,786 (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 12144

• Home prices YoY: -33.4%
• Rents YoY: 0.9%
• Active inventory: 102
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,920 high
• Mortgage (P&I): −$314
• Tax from tax record: −$234 /mo · $2,802/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $944

Break-even live

Break-even rent $725

Max offer price $59,950

Occupancy floor 46%

Sensitivity live

Price	-10% $1,144	-5% $961	+0% $944	+5% $927	+10% $910
Rent	-10% $792	-5% $868	+0% $944	+5% $1,020	+10% $1,095
Rate	-1.0pp $974	-0.5pp $959	base $944	+0.5pp $928	+1.0pp $912

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: $14,988
• Closing costs: $1,798
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	20d	1	0.15mi
934 Broadway Unit 1 Rensselaer, NY	2.0	1.0	741	$1,450	$1.96	44d	1	0.23mi
945 Broadway Rensselaer, NY	3.0	1.0	1200	$1,650	$1.38	24d	1	0.25mi
1047 Broadway Rensselaer, NY	2.0	1.0	1014	$1,650	$1.63	15d	1	0.28mi
100 New Broadway Rensselaer, NY	2.0	2.0	1248	$2,212	$1.77	15d	2	0.36mi
1307 Broadway Rensselaer, NY	2.0	1.0	1014	$1,650	$1.63	15d	1	0.40mi
1311 Broadway Rensselaer, NY	2.0	1.0	1014	$1,650	$1.63	15d	1	0.41mi
99 New Broadway Rensselaer, NY	2.0	1.0–2.0	946	$2,495	$2.64	15d	5	0.45mi
7 Elm Ct Rensselaer, NY	1.0–2.0	1.0–2.0	829	$1,830	$2.21	15d	1	0.50mi
1444 2nd St Unit 2 Rensselaer, NY	4.0	1.0	950	$1,900	$2.00	44d	1	0.51mi
37 Maiden Ln Albany, NY	2.0	1.0	700	$1,515	$2.16	15d	1	0.90mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	15d	17	0.95mi
151 S Pearl St Albany, NY	2.0	1.0	1000	$1,600	$1.60	15d	1	1.04mi
168 S Pearl St Albany, NY	3.0	1.5	1044	$1,800	$1.72	24d	1	1.04mi
135 Madison Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,400	$1.40	44d	1	1.07mi
31 Van Zandt St Albany, NY	2.0	1.0	850	$1,700	$2.00	44d	1	1.10mi
151 Madison Ave Unit C Albany, NY	2.0	1.0	750	$1,125	$1.50	24d	1	1.12mi
883 Broadway Apt 103 Albany, NY	2.0	1.0	1155	$1,785	$1.55	24d	1	1.12mi
883 Broadway Apt 201 Albany, NY	2.0	1.0	980	$1,450	$1.48	24d	1	1.12mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	44d	1	1.15mi
17 Ash Grove Pl Albany, NY	2.0	1.0	800	$1,400	$1.75	44d	1	1.15mi
103 Grand St Unit 1 Albany, NY	2.0	1.0	800	$1,250	$1.56	15d	1	1.15mi
9 St Josephs Ter Albany, NY	3.0	2.0	1000	$1,850	$1.85	44d	1	1.17mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	45d	1	1.25mi
132 4th Ave Albany, NY	3.0	1.0	770	$1,800	$2.34	22d	1	1.38mi
149 Jay St Albany, NY	2.0	1.0	1000	$1,750	$1.75	44d	1	1.48mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	22d	1	1.49mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	15d	1	1.49mi

Listing history 7 events

1. 2026-05-11
   status Active 499-char remark
2. 2026-05-06
   status Pending 499-char remark
3. 2026-04-25
   listed $59,950 Active 499-char remark
4. 2020-09-04
   historical
5. 2020-04-21
   status Active
6. 2020-04-19
   historical
7. 2020-03-03
   listed $49,900 New

ⓘ 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: $2,802 · $234/mo
• Projected year-2 tax: $2,802 · $234/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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,038
• − Mortgage interest: −$3,358
• − Property taxes: −$2,802
• − Insurance: −$300
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − Depreciation: −$1,744
• Taxable income: $11,148
• Est. tax owed @ 24.0%: −$2,676
• After-tax cash flow: $8,650/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: Rensselaer City School District
• NCES district ID: 3624450
• Math proficiency: 28% ▼ -2.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $48,665
• Composite: 26.89/100
• National rank: #7096
• State rank: #574 of 590 in NY

Livability — Rensselaer

• Score: 77/100
• State rank: #191
• US rank: #2967

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rensselaer, NY
• County: Rensselaer County · 75,590 people
• City population: 22,111
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 22,111
• Household income: $90,738
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 541.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 8% Asian 7% Hispanic / Latino 6% Black 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Iranian 3%
• Foreign-born: 7% · Philippines, Canada, China
• Languages at home: 91% English-only · Other Asian/Pacific 3% Spanish 2% Chinese 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.26%
• Current HPI: 276.2239
• Rent YoY: ▲ 0.90%
• 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

+20.1% since first listed

8 events — show timeline

• 2026-05-21 Pending — Global MLS
• 2026-05-11 Relisted — Global MLS
• 2026-05-06 Pending — Global MLS
• 2026-04-25 Listed $59,950 Global MLS
• 2020-09-04 Listing Removed — Global MLS
• 2020-04-21 Relisted — Global MLS
• 2020-04-19 Listing Removed — Global MLS
• 2020-03-03 Listed $49,900 Global MLS

Property tax history

+20.3%/yr

Latest (2025): $2,802 · +1.1% YoY. Source: county tax records.