70 N Lake Ave · Albany, NY 12206

$315,000

4 bd · 3.0 ba · 1,610 sqft · MultiFamily · 7 Days on market

Built 1900 2,178 sqft lot $196/sqft · 68% above 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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

MULTIPLE OFFERS due 5pm 9/14/20. No more showings.Needs total rehab, Sold "as is" zoned commercial with commercial on first floor, 3 Br apt on second floor. Great opportunity for local based business with residence on premises. Or rent 2nd floor for additional income. Full basement. half bath on first floor. Enter at your own risk.

Key facts

• New furnace
• New kitchens
• New appliances

Tags

• FULLY UPGRADED
• NEW ROOF
• NEW FURNACE
• NEW KITCHENS
• NEW BATHROOMS
• NEW APPLIANCES

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Vinyl siding
• Construction: Rubber roof
• Exterior features: Back yard fencing; Other exterior features

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: 3 full bathrooms total (Unit 1: 1 full bath; Unit 2: 2 full baths)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive. Per door: $188/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $315k).
• Cap rate 7.7% 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 (+5.4%/yr); 89 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,231/mo this rent would consume 93% of the median local household income ($42k/yr) (locally 2035% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $35k; list at $315k implies a 800% 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 $315,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $187,002
• List price: $315,000
• Delta: 76.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60 Bradford St	0.18mi	3/2.0 (-1)	1,600 (-1%)	5mo	$170,000	$106	78
97 West St	0.13mi	4/2.0	1,760 (+9%)	6mo	$187,000	$106	69
376 1st St	0.31mi	4/2.0	1,680 (+4%)	10mo	$100,000	$60	66
320 1st St	0.40mi	5/3.0 (+1)	1,638 (+2%)	10mo	$213,000	$130	65
596 Livingston Ave	0.57mi	4/2.0	1,584 (-2%)	3mo	$148,000	$93	64
178 Spring St	0.26mi	3/2.0 (-1)	1,524 (-5%)	9mo	$195,000	$128	62
14 Pennsylvania Ave	0.66mi	4/2.0	1,600 (-1%)	13mo	$110,000	$69	53
40 Spring St	0.66mi	3/3.0 (-1)	1,716 (+7%)	14mo	$221,100	$129	41
307 Orange St	0.61mi	3/2.5 (-1)	1,750 (+9%)	17mo	$90,000	$51	36
605 3rd St	0.70mi	4/2.0	1,792 (+11%)	14mo	$152,000	$85	33
555 2nd St	0.50mi	5/2.0 (+1)	1,402 (-13%)	17mo	$145,000	$103	32
497 Morris St	0.63mi	4/2.0	1,373 (-15%)	21mo	$165,000	$120	25

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.78×
• Total profit: $-19,186
• Equity at exit: $46,968

10-year hold

• IRR: 6.6%
• Equity multiple: 1.55×
• Total profit: $48,268
• Equity at exit: $27,235

Cash invested: $88,200 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,231 high
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $376

Break-even live

Break-even rent $2,756

Max offer price $315,000

Occupancy floor 83%

Sensitivity live

Price	-10% $593	-5% $484	+0% $376	+5% $267	+10% $158
Rent	-10% $120	-5% $248	+0% $376	+5% $503	+10% $631
Rate	-1.0pp $534	-0.5pp $456	base $376	+0.5pp $294	+1.0pp $211

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,232
Total (2 units)			$3,231

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	16d	1	0.17mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	16d	1	0.24mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	25d	1	0.29mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	45d	1	0.31mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	45d	1	0.36mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	25d	1	0.37mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	0.38mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	0.38mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	45d	1	0.44mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	16d	1	0.45mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	25d	1	0.53mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	45d	1	0.62mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	23d	1	0.67mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	16d	10	0.68mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	45d	1	0.69mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	25d	1	0.69mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	25d	1	0.78mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	16d	1	0.82mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	45d	1	0.88mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	25d	1	0.88mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	25d	1	0.95mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	45d	1	0.95mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	45d	1	1.01mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	23d	1	1.05mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	45d	1	1.06mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	45d	1	1.08mi
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	16d	1	1.09mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	45d	1	1.09mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	25d	1	1.16mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	16d	1	1.23mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	45d	1	1.25mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	46d	1	1.44mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	45d	1	1.46mi

Listing history 17 events

1. 2026-06-21
   remarks 280-char remark
2. 2026-06-21
   days on market $315,000 Active 7 DOM
3. 2026-06-18
   days on market $315,000 Active 4 DOM
4. 2026-06-17
   days on market $315,000 Active 3 DOM
5. 2026-06-16
   days on market $315,000 Active 2 DOM
6. 2026-06-15
   remarks 248-char remark
7. 2026-06-15
   pricedays on marketlisting id $315,000 Active 1 DOM
8. 2026-06-03
   days on market $330,000 Active 42 DOM
9. 2026-06-02
   days on market $330,000 Active 41 DOM
10. 2026-06-01
    days on market $330,000 Active 40 DOM
11. 2026-05-31
    days on market $330,000 Active 39 DOM
12. 2026-05-31
    days on market $330,000 Active 38 DOM
13. 2026-05-18
    price $330,000 221-char remark
14. 2026-04-21
    listed $339,000 Active 221-char remark
15. 2021-02-11
    soldstatus $35,000 Closed (Final Sale) 343-char remark

    Show marketing remark (343 chars)

    MULTIPLE OFFERS due 5pm 9/14/20. No more showings.Needs total rehab, Sold "as is" zoned commercial with commercial on first floor, 3 Br apt on second floor. Great opportunity for local based business with residence on premises. Or rent 2nd floor for additional income. Full basement. half bath on first floor. Enter at your own risk.

16. 2020-09-17
    status Pend (Under Cntr) 343-char remark

    Show marketing remark (343 chars)

    MULTIPLE OFFERS due 5pm 9/14/20. No more showings.Needs total rehab, Sold "as is" zoned commercial with commercial on first floor, 3 Br apt on second floor. Great opportunity for local based business with residence on premises. Or rent 2nd floor for additional income. Full basement. half bath on first floor. Enter at your own risk.

17. 2020-09-10
    listed $29,900 New 343-char remark

    Show marketing remark (343 chars)

    MULTIPLE OFFERS due 5pm 9/14/20. No more showings.Needs total rehab, Sold "as is" zoned commercial with commercial on first floor, 3 Br apt on second floor. Great opportunity for local based business with residence on premises. Or rent 2nd floor for additional income. Full basement. half bath on first floor. Enter at your own risk.

ⓘ 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: $38,772
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,102
• − Management: −$3,102
• − Depreciation: −$9,164
• Taxable loss: −$540
• Est. tax savings @ 24.0%: +$130
• After-tax cash flow: $4,637/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+953.5% since first listed

7 events — show timeline

• 2026-06-12 Listed $315,000 Global MLS
• 2026-05-18 Price Changed $330,000 Global MLS
• 2026-05-05 Listing Removed — Global MLS
• 2026-04-21 Listed $339,000 Global MLS
• 2021-02-11 Sold (MLS) $35,000 Global MLS
• 2020-09-17 Pending — Global MLS
• 2020-09-10 Listed $29,900 Global MLS