372 Clinton Ave · Albany, NY 12206

$399,000

6 bd · 3.0 ba · 2,199 sqft · MultiFamily public records · 52 Days on market

Built 1872 1,742 sqft lot $181/sqft · at area comps Est $271k · 47% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

A rare & exciting opportunity to own this beautifully renovated/maintained triplex located within the revitalizing/vibrant Clinton Ave/downtown Albany corridor. Walkable to state & legislative institutions, Albany Medical Center, Center Square/Lark St, Washington Park/Ten Broeck Neighborhood/Mansion, The Palace, public transportation, popular eateries, galleries, coffee shops, nightlife and an array of other city attractions. This particular address was gutted and everything is 5 years young. Attractive features include spacious units offering high ceilings, oversized windows, open concept, stone countertops, SS appliances, soaking tub & more. Separate utilities with with low taxes, expenses & high efficiency in place make for an attractive investment. Owners starting to get $1,700+/month per unit. Can be purchased separately OR with 370 Clinton Ave & 389 Orange St parcel - DEEDED INDIVIDUALLY. Completely turnkey and ready to be traded with confidence.

Key facts

• Renovated triplex
• Open concept
• Stone countertops

Tags

• RENOVATED TRIPLEX
• HIGH EFFICIENCY UTILITIES
• SPACIOUS UNITS
• OVERSIZED WINDOWS
• OPEN CONCEPT
• STONE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $570/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,307/mo this rent would consume 153% 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 $3k of loan paydown is wiped out by about $12k 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 + 5.4% rent growth), your $112k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 27y 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 $6k; list at $399k implies a 7155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1872 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 1872 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.37%
• DSCR: 1.82
• GRM: 6.3

CMA / ARV

• ARV (median comp): $271,366
• List price: $399,000
• Delta: 47.03%
• 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
97 Lark St	0.21mi	6/3.0	2,214 (+1%)	4mo	$259,000	$117	85
18.5 Dudley Hts	0.49mi	6/2.0	2,200 (0%)	0mo	$289,900	$132	72
10 Wilkins Ave	0.34mi	6/2.0	2,294 (+4%)	1mo	$280,000	$122	72
391 Washington Ave	0.34mi	7/4.0 (+1)	2,217 (+1%)	5mo	$350,000	$158	70
337 3rd St	0.32mi	6/2.0	2,058 (-6%)	1mo	$160,000	$78	69
351 2nd St	0.29mi	6/2.0	2,056 (-6%)	3mo	$184,002	$89	69
362 Clinton Ave	0.02mi	7/4.0 (+1)	2,490 (+13%)	2mo	$270,000	$108	67
184 N Lake Ave	0.40mi	6/2.0	1,974 (-10%)	1mo	$195,000	$99	59
189 Elk St	0.26mi	6/2.0	1,880 (-14%)	2mo	$89,900	$48	58
9 Pennsylvania Ave	0.31mi	5/2.0 (-1)	1,960 (-11%)	4mo	$225,000	$115	55
534 1st St	0.62mi	6/2.0	2,464 (+12%)	0mo	$175,000	$71	47
189-B Quail St	0.70mi	6/2.0	2,512 (+14%)	3mo	$185,000	$74	37

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: 12.5%
• Equity multiple: 1.51×
• Total profit: $57,140
• Equity at exit: $59,492

10-year hold

• IRR: 23.1%
• Equity multiple: 3.20×
• Total profit: $245,463
• Equity at exit: $34,498

Cash invested: $111,720 (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: 18.8×

Monthly cashflow live

• Estimated rent: $5,307 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$224 /mo · $2,683/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,114
• Net cashflow: $1,710

Break-even live

Break-even rent $3,142

Max offer price $399,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,936	-5% $1,823	+0% $1,710	+5% $1,597	+10% $1,484
Rent	-10% $1,291	-5% $1,501	+0% $1,710	+5% $1,920	+10% $2,130
Rate	-1.0pp $1,911	-0.5pp $1,812	base $1,710	+0.5pp $1,607	+1.0pp $1,502

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,307
Total (3 units)			$5,307

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-05-31
   days on market $399,000 Active 52 DOM
2. 2026-05-31
   days on market $399,000 Active 51 DOM
3. 2026-04-09
   listed $399,000 Active 992-char remark

   Show marketing remark (992 chars)

   A rare & exciting opportunity to own this beautifully renovated/maintained triplex located within the revitalizing/vibrant Clinton Ave/downtown Albany corridor. Walkable to state & legislative institutions, Albany Medical Center, Center Square/Lark St, Washington Park/Ten Broeck Neighborhood/Mansion, The Palace, public transportation, popular eateries, galleries, coffee shops, nightlife and an array of other city attractions. This particular address was gutted and everything is 5 years young. Attractive features include spacious units offering high ceilings, oversized windows, open concept, stone countertops, SS appliances, soaking tub & more. Separate utilities with with low taxes, expenses & high efficiency in place make for an attractive investment. Owners starting to get $1,700+/month per unit. Can be purchased separately OR with 370 Clinton Ave & 389 Orange St parcel - DEEDED INDIVIDUALLY. Completely turnkey and ready to be traded with confidence.

4. 2025-08-01
   historical $1,487
5. 2025-06-13
   historical $1,487
6. 2025-05-03
   listed $1,487
7. 2025-05-03
   historical $1,487
8. 2025-04-11
   listed $1,487
9. 2025-04-11
   listed $1,230
10. 2023-08-15
    status Active
11. 2023-08-10
    historical $1,200
12. 2023-08-07
    historical Contingent
13. 2023-08-07
    historical
14. 2023-08-01
    listed $1,200
15. 2023-04-24
    listed $375,000 Active
16. 2010-05-21
    soldstatus $5,500
17. 2010-05-05
    historical
18. 2010-04-12
    listed $5,900
19. 2006-08-31
    soldstatus $170,000
20. 2005-02-07
    soldstatus $45,000
21. 2005-01-28
    soldstatus $45,000
22. 2004-10-14
    historical
23. 2004-08-13
    listed $59,900
24. 2000-02-04
    soldstatus $5,486
25. 1999-11-30
    historical
26. 1999-11-18
    listed $5,000
27. 1998-07-17
    soldstatus $49,715

ⓘ 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: $2,683 · $224/mo
• Projected year-2 tax: $4,713 · $393/mo
• Expected delta: +$2,030/yr (+$169/mo · 75.7%)

ⓘ 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 · 16 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: $63,684
• − Mortgage interest: −$22,350
• − Property taxes: −$2,683
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,095
• − Management: −$5,095
• − Depreciation: −$11,607
• Taxable income: $14,859
• Est. tax owed @ 24.0%: −$3,566
• After-tax cash flow: $16,957/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

+702.6% since first listed

25 events — show timeline

• 2026-04-09 Listed $399,000 Global MLS
• 2025-08-01 Rental Removed $1,487 GLOBALMLS
• 2025-06-13 Rental Removed $1,487 GLOBALMLS
• 2025-05-03 Listed for Rent $1,487 GLOBALMLS
• 2025-05-03 Rental Removed $1,487 GLOBALMLS
• 2025-04-11 Listed for Rent $1,487 GLOBALMLS
• 2025-04-11 Listed for Rent $1,230 GLOBALMLS
• 2023-08-15 Relisted — Global MLS
• 2023-08-10 Rental Removed $1,200 GLOBALMLS
• 2023-08-07 Contingent — Global MLS
• 2023-08-07 Listing Removed — Global MLS
• 2023-08-01 Listed for Rent $1,200 GLOBALMLS
• 2023-04-24 Listed $375,000 Global MLS
• 2010-05-21 Sold (MLS) $5,500 Global MLS
• 2010-05-05 Listing Removed — Global MLS
• 2010-04-12 Listed $5,900 Global MLS
• 2006-08-31 Sold (Public Records) $170,000 Public Records
• 2005-02-07 Sold (Public Records) $45,000 Public Records
• 2005-01-28 Sold (MLS) $45,000 Global MLS
• 2004-10-14 Listing Removed — Global MLS
• 2004-08-13 Listed $59,900 Global MLS
• 2000-02-04 Sold (MLS) $5,486 Global MLS
• 1999-11-30 Listing Removed — Global MLS
• 1999-11-18 Listed $5,000 Global MLS
• 1998-07-17 Sold (Public Records) $49,715 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,683 · -0.6% YoY. Source: county tax records.