146 Lark St · Albany, NY 12210

$194,900

5 bd · 1.0 ba · 2,554 sqft · Townhouse public records · 54 Days on market

Built 1890 1,306 sqft lot $76/sqft · 58% 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 +22.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +7.0/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks

Opportunity knocks in Albany with this spacious 3-level brick home offering 5 bedrooms and 1.5 bathrooms and over 2,500 sq ft of living space. Perfect for buyers looking to build equity and make a home their own. Flexible layout with generously sized rooms and a partially finished basement providing additional usable space. Zoned R2B, offering potential for conversion to a two-family--buyer to verify with the City of Albany. Conveniently located near downtown Albany, major highways, and ongoing neighborhood development. Ideal for owner-occupants or investors. Sold as-is.

Key facts

• 1,306 sq ft lot
• Built 1890
• Listed 53 days

Property features AI

Exterior

• Utilities: 100 amp electric service; Public water; Public sewer
• Home design: Single family residence
• Construction: Brick construction
• Exterior features: Flat rubber roof

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Four bedrooms on the second level
• Flooring: Vinyl; Carpet; Hardwood; Laminate
• Bathrooms: One full bathroom on the second level; One half bathroom on the first level
• Heating & cooling: Forced air heating
• Interior features: 10 total rooms; Has fireplace (bedroom)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Arbor Hill Elementary School (math 17% / reading 17%, grade F, #2,011 of 2,108 statewide, top 96%, 265 students, 87% FRL); Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL).
• Market conditions: Rents rising fast (+6.9%/yr); 70 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,348/mo this rent would consume 50% of the median local household income ($56k/yr) (locally 1211% 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 $1k of loan paydown is wiped out by about $6k 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 + 6.9% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1890 — 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: 1.20% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 6.9

CMA / ARV

• ARV (median comp): $460,318
• List price: $194,900
• Delta: -57.66%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Henry Johnson Blvd	0.23mi	6/3.5 (+1)	2,422 (-5%)	9mo	$492,000	$203	58

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 · 6.86% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-2,118
• Equity at exit: $29,060

10-year hold

• IRR: 12.8%
• Equity multiple: 2.22×
• Total profit: $66,425
• Equity at exit: $16,851

Cash invested: $54,572 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,348 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$440 /mo · $5,284/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $311

Break-even live

Break-even rent $1,954

Max offer price $194,900

Occupancy floor 82%

Sensitivity live

Price	-10% $422	-5% $367	+0% $311	+5% $256	+10% $201
Rent	-10% $126	-5% $219	+0% $311	+5% $404	+10% $497
Rate	-1.0pp $410	-0.5pp $361	base $311	+0.5pp $261	+1.0pp $210

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	45d	1	0.49mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	45d	1	0.91mi

Listing history 28 events

1. 2026-06-21
   days on market $194,900 Active 54 DOM
2. 2026-06-18
   days on market $194,900 Active 51 DOM
3. 2026-06-17
   days on market $194,900 Active 50 DOM
4. 2026-06-16
   days on market $194,900 Active 49 DOM
5. 2026-06-15
   days on market $194,900 Active 48 DOM
6. 2026-06-14
   days on market $194,900 Active 46 DOM
7. 2026-06-10
   days on market $194,900 Active 43 DOM
8. 2026-06-08
   days on market $194,900 Active 41 DOM
9. 2026-06-07
   days on market $194,900 Active 40 DOM
10. 2026-06-03
    days on market $194,900 Active 36 DOM
11. 2026-06-02
    days on market $194,900 Active 35 DOM
12. 2026-06-01
    days on market $194,900 Active 34 DOM
13. 2026-05-31
    days on market $194,900 Active 33 DOM
14. 2026-05-31
    days on market $194,900 Active 32 DOM
15. 2026-05-13
    price $194,900 583-char remark
16. 2026-04-27
    listed $200,000 Active 583-char remark
17. 2023-04-04
    historical
18. 2023-02-06
    listed $79,900 Active
19. 2022-08-05
    historical
20. 2022-07-22
    price $115,000
21. 2022-07-19
    price $115,900
22. 2022-07-13
    price $120,500
23. 2022-07-06
    price $129,500
24. 2022-06-22
    price $129,800
25. 2022-06-09
    price $129,900
26. 2022-06-01
    listed $139,900 Active
27. 2016-09-08
    soldstatus $808,500
28. 2016-04-01
    soldstatus $49,968

ⓘ 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: $5,284 · $440/mo
• Projected year-2 tax: $5,284 · $440/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 ≥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: $28,178
• − Mortgage interest: −$10,917
• − Property taxes: −$5,284
• − Insurance: −$974
• − Repairs & maintenance: −$2,254
• − Management: −$2,254
• − Depreciation: −$5,670
• Taxable income: $824
• Est. tax owed @ 24.0%: −$198
• After-tax cash flow: $3,539/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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+290.0% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $194,900 Global MLS
• 2026-04-27 Listed $200,000 Global MLS
• 2023-04-04 Listing Removed — Global MLS
• 2023-02-06 Listed $79,900 Global MLS
• 2022-08-05 Listing Removed — Global MLS
• 2022-07-22 Price Changed $115,000 Global MLS
• 2022-07-19 Price Changed $115,900 Global MLS
• 2022-07-13 Price Changed $120,500 Global MLS
• 2022-07-06 Price Changed $129,500 Global MLS
• 2022-06-22 Price Changed $129,800 Global MLS
• 2022-06-09 Price Changed $129,900 Global MLS
• 2022-06-01 Listed $139,900 Global MLS
• 2016-09-08 Sold (Public Records) $808,500 Public Records
• 2016-04-01 Sold (Public Records) $49,968 Public Records

Property tax history

+1.7%/yr

Latest (2025): $5,284 · -10.5% YoY. Source: county tax records.