57 Washington Ave · Rensselaer, NY 12144

$249,900

3 bd · 3.0 ba · 2,074 sqft · MultiFamily public records · 8 Days on market

Built 1919 0.25 ac lot $120/sqft · 34% below area Est $377k · 34% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

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

Listing remarks MLS

OPEN HOUSE SUN NOV 1ST 1-4. Outstanding single family with and an inlaw meticulously maintained! open floor plan lots of natural light vaulted ceilings finished basment and working fireplace. This house has alot to offer New roof and 2 new hot water tanks. Excellent Condition

Key facts

• Natural light
• Two-family home
• Sunroom

Tags

• TWO-FAMILY HOME
• SPACIOUS LAYOUT
• OPEN MAIN FLOOR
• SUNROOM
• NATURAL LIGHT
• VAULTED CEILINGS

Property features AI

Finance

• Financial info: Two-unit property; Tenants responsible for hot water, heat and electricity

Exterior

• Parking: Off-street parking; Driveway providing space for 3 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Updated / Remodeled; Below-grade finished area present
• Construction: Wood siding exterior; Asphalt roof
• Exterior features: Pressure treated deck; Garden

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom
• Flooring: Carpet; Ceramic tile; Hardwood
• Bathrooms: Total of 3 bathrooms: two full and one half; Full baths located on 1st and 2nd levels; half bath in basement
• Heating & cooling: Electric heating; Forced air; Natural gas
• Interior features: Finished basement; Sliding doors; Carpet, ceramic tile and hardwood flooring; One fireplace

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $636/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 12.4% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $4,079/mo this rent would consume 54% of the median local household income ($91k/yr) (locally 541% 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.
• 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 $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $180k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,900

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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.63% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.82%
• DSCR: 1.97
• GRM: 5.1

CMA / ARV

• ARV (median comp): $376,674
• List price: $249,900
• Delta: -33.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1572 3rd St	0.14mi	4/2.0 (+1)	2,084 (+0%)	7mo	$249,900	$120	78
1554 1st St	0.19mi	3/3.0	2,232 (+8%)	4mo	$220,000	$99	75
1555 5th St	0.19mi	4/2.0 (+1)	2,310 (+11%)	11mo	$234,900	$102	54
1579 4th St	0.14mi	4/2.0 (+1)	2,296 (+11%)	23mo	$262,000	$114	48
1001 3rd St	0.72mi	4/2.0 (+1)	2,068 (-0%)	12mo	$230,000	$111	46
47 Pine St	0.58mi	4/2.0 (+1)	1,772 (-15%)	19mo	$170,000	$96	24

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: 11.9%
• Equity multiple: 1.46×
• Total profit: $32,291
• Equity at exit: $37,261

10-year hold

• IRR: 19.1%
• Equity multiple: 2.43×
• Total profit: $100,051
• Equity at exit: $21,607

Cash invested: $69,972 (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: 10.2×

Monthly cashflow live

• Estimated rent: $4,079 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$536 /mo · $6,427/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$857
• Net cashflow: $1,272

Break-even live

Break-even rent $2,469

Max offer price $249,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$4,080
Total (2 units)			$4,079

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1556 1st St Rensselaer, NY	2.0	1.0	2178	$1,600	$0.73	14d	1	0.19mi
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	19d	1	0.83mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	21d	1	1.03mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	43d	1	1.10mi
2 River Chase Rensselaer, NY	1.0–3.0	1.0–2.0	1348	$2,615	$1.94	14d	34	1.16mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	14d	17	1.16mi
624 N Pearl St Unit 1st floor Albany, NY	4.0	2.0	1800	$1,950	$1.08	14d	1	1.22mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	23d	1	1.44mi

Listing history 9 events

1. 2026-05-15
   status Pending 917-char remark
2. 2026-05-07
   listed $249,900 Active 917-char remark
3. 2010-04-14
   soldstatus $179,600
4. 2010-03-08
   historical
5. 2010-01-12
   soldstatus $180,000

   Show marketing remark (278 chars)

   OPEN HOUSE SUN NOV 1ST 1-4. Outstanding single family with and an inlaw meticulously maintained! open floor plan lots of natural light vaulted ceilings finished basment and working fireplace. This house has alot to offer New roof and 2 new hot water tanks. Excellent Condition

6. 2009-11-24
   historical

   Show marketing remark (278 chars)

   OPEN HOUSE SUN NOV 1ST 1-4. Outstanding single family with and an inlaw meticulously maintained! open floor plan lots of natural light vaulted ceilings finished basment and working fireplace. This house has alot to offer New roof and 2 new hot water tanks. Excellent Condition

7. 2009-10-07
   listed $188,900

   Show marketing remark (278 chars)

   OPEN HOUSE SUN NOV 1ST 1-4. Outstanding single family with and an inlaw meticulously maintained! open floor plan lots of natural light vaulted ceilings finished basment and working fireplace. This house has alot to offer New roof and 2 new hot water tanks. Excellent Condition

8. 2009-10-07
   listed $188,900

   Show marketing remark (278 chars)

   OPEN HOUSE SUN NOV 1ST 1-4. Outstanding single family with and an inlaw meticulously maintained! open floor plan lots of natural light vaulted ceilings finished basment and working fireplace. This house has alot to offer New roof and 2 new hot water tanks. Excellent Condition

9. 1995-07-20
   soldstatus $110,000

ⓘ 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: $6,427 · $536/mo
• Projected year-2 tax: $6,427 · $536/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $48,948
• − Mortgage interest: −$13,998
• − Property taxes: −$6,427
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,916
• − Management: −$3,916
• − Depreciation: −$7,270
• Taxable income: $12,172
• Est. tax owed @ 24.0%: −$2,921
• After-tax cash flow: $12,345/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

+127.2% since first listed

9 events — show timeline

• 2026-05-15 Pending — Global MLS
• 2026-05-07 Listed $249,900 Global MLS
• 2010-04-14 Sold (Public Records) $179,600 Public Records
• 2010-03-08 Listing Removed — Global MLS
• 2010-01-12 Sold (MLS) $180,000 Global MLS
• 2009-11-24 Listing Removed — Global MLS
• 2009-10-07 Listed $188,900 Global MLS
• 2009-10-07 Listed $188,900 Global MLS
• 1995-07-20 Sold (Public Records) $110,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $6,427 · +5.9% YoY. Source: county tax records.