103 Prospect St · Schenectady, NY 12308

$242,900

4 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 88 Days on market

Built 1915 3,484 sqft lot $158/sqft · at area comps Est $251k · at est.

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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 +24.4/30.0
• ARV discount +9.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.8/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• 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

..Nice Two Family house with LR, Kitchen, 2 BRs and bath in each flat - Separate heat & Utilities - Washer & Dryer Hookups in basement - One flat was left vacant to facilitate the sale.

Key facts

• Separate heat
• Off street parking
• 3,484 sq ft lot

Tags

• SEPARATE HEAT
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $243k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $243k).
• Recommended offer: $228k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 6.3% in Schenectady — 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 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: Howe Elementary School (math 44% / reading 54%, grade D, #1,085 of 2,108 statewide, top 56%, 363 students, 69% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); 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 49% at this address vs 36% district-wide (+13 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: 79 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $2,867/mo this rent would consume 54% of the median local household income ($63k/yr) (locally 1016% 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 $7k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $243k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $228,326 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.18% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 7.1

CMA / ARV

• ARV (median comp): $251,176
• List price: $242,900
• Delta: -3.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Porter St	0.09mi	4/2.0	1,556 (+1%)	13mo	$255,000	$164	83
701 Windsor Ter	0.09mi	4/2.0	1,560 (+2%)	22mo	$45,100	$29	74
35 Swan St	0.56mi	4/2.0	1,548 (+1%)	6mo	$2,570	$2	68
11 Mynderse St	0.33mi	4/2.0	1,686 (+10%)	1mo	$140,000	$83	67
136 Elmer Ave	0.47mi	3/2.0 (-1)	1,646 (+7%)	11mo	$228,000	$139	52
34 Columbia St	0.42mi	5/3.0 (+1)	1,600 (+4%)	20mo	$250,000	$156	48
1524 Devine St	0.63mi	4/2.0	1,728 (+12%)	22mo	$165,000	$95	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-7,714
• Equity at exit: $36,217

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $34,308
• Equity at exit: $21,002

Cash invested: $68,012 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 79
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $2,867 high
• Mortgage (P&I): −$1,274
• Tax from tax record: −$395 /mo · $4,735/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$602
• Net cashflow: $495

Break-even live

Break-even rent $2,240

Max offer price $242,900

Occupancy floor 78%

Sensitivity live

Price	-10% $633	-5% $564	+0% $495	+5% $427	+10% $358
Rent	-10% $269	-5% $382	+0% $495	+5% $609	+10% $722
Rate	-1.0pp $618	-0.5pp $557	base $495	+0.5pp $432	+1.0pp $368

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,866
Total (2 units)			$2,867

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: $60,725
• Closing costs: $7,287
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	45d	1	0.22mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	45d	1	0.61mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	25d	1	0.67mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	25d	1	0.68mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	45d	1	0.69mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	45d	1	0.85mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	45d	1	0.87mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	15d	9	0.97mi
1755 Avenue B Unit B Schenectady, NY	3.0	1.0	1200	$1,700	$1.42	16d	1	0.97mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	16d	1	1.07mi
1165 Cresse Ave Schenectady, NY	3.0	1.0	1196	$2,800	$2.34	16d	1	1.45mi

Listing history 32 events

1. 2026-06-21
   days on market $242,900 Active 88 DOM
2. 2026-06-18
   days on market $242,900 Active 85 DOM
3. 2026-06-17
   days on market $242,900 Active 84 DOM
4. 2026-06-16
   days on market $242,900 Active 83 DOM
5. 2026-06-15
   days on market $242,900 Active 82 DOM
6. 2026-06-14
   days on market $242,900 Active 80 DOM
7. 2026-06-13
   pricedays on market $242,900 Active 79 DOM
8. 2026-06-10
   days on market $249,900 Active 77 DOM
9. 2026-06-09
   days on market $249,900 Active 76 DOM
10. 2026-06-08
    days on market $249,900 Active 75 DOM
11. 2026-06-07
    days on market $249,900 Active 74 DOM
12. 2026-06-03
    days on market $249,900 Active 70 DOM
13. 2026-06-02
    days on market $249,900 Active 69 DOM
14. 2026-06-01
    days on market $249,900 Active 68 DOM
15. 2026-05-31
    days on market $249,900 Active 67 DOM
16. 2026-05-31
    days on market $249,900 Active 66 DOM
17. 2026-03-24
    listed $253,900 Active 193-char remark

    Show marketing remark (193 chars)

    ..Nice Two Family house with LR, Kitchen, 2 BRs and bath in each flat - Separate heat & Utilities - Washer & Dryer Hookups in basement - One flat was left vacant to facilitate the sale.

18. 2025-04-30
    soldstatus $125,000
19. 2025-04-09
    soldstatus $125,000 Closed 155-char remark

    Show marketing remark (155 chars)

    Vinyl sided, young roof. Driveway, all separate utilities. Being sold 'As is'' with tenants in place. Seller not doing any clean out of basement or attic.

20. 2025-02-27
    status Pending 155-char remark

    Show marketing remark (155 chars)

    Vinyl sided, young roof. Driveway, all separate utilities. Being sold 'As is'' with tenants in place. Seller not doing any clean out of basement or attic.

21. 2025-02-12
    listed $125,000 Active 155-char remark

    Show marketing remark (155 chars)

    Vinyl sided, young roof. Driveway, all separate utilities. Being sold 'As is'' with tenants in place. Seller not doing any clean out of basement or attic.

22. 2022-08-02
    historical
23. 2021-12-14
    status Pending
24. 2021-08-31
    status Pend (Under Cntr)
25. 2021-08-23
    status Extended
26. 2021-08-16
    historical
27. 2021-05-27
    price $79,900
28. 2021-02-15
    listed $85,900 New
29. 2017-10-30
    soldstatus $33,100
30. 2017-09-25
    soldstatus $33,000 Closed (Final Sale)
31. 2017-08-23
    status Pend (Under Cntr)
32. 2017-08-09
    listed $44,000 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: $4,735 · $395/mo
• Projected year-2 tax: $4,735 · $395/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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $34,404
• − Mortgage interest: −$13,606
• − Property taxes: −$4,735
• − Insurance: −$1,214
• − Repairs & maintenance: −$2,752
• − Management: −$2,752
• − Depreciation: −$7,066
• Taxable income: $2,277
• Est. tax owed @ 24.0%: −$547
• After-tax cash flow: $5,397/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: 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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

+477.0% since first listed

16 events — show timeline

• 2026-03-24 Listed $253,900 Global MLS
• 2025-04-30 Sold (Public Records) $125,000 Public Records
• 2025-04-09 Sold (MLS) $125,000 Global MLS
• 2025-02-27 Pending — Global MLS
• 2025-02-12 Listed $125,000 Global MLS
• 2022-08-02 Listing Removed — Global MLS
• 2021-12-14 Pending — Global MLS
• 2021-08-31 Pending — Global MLS
• 2021-08-23 Relisted — Global MLS
• 2021-08-16 Listing Removed — Global MLS
• 2021-05-27 Price Changed $79,900 Global MLS
• 2021-02-15 Listed $85,900 Global MLS
• 2017-10-30 Sold (Public Records) $33,100 Public Records
• 2017-09-25 Sold (MLS) $33,000 Global MLS
• 2017-08-23 Pending — Global MLS
• 2017-08-09 Listed $44,000 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $4,735 · +5.2% YoY. Source: county tax records.