1301 Broadway · Watervliet, NY 12189

$275,000

12 bd · 4.8 ba · 6,470 sqft · MultiFamily public records · 6 Days on market

Built 1900 6,098 sqft lot $43/sqft · 65% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Strong value add opportunity in a prime Watervliet location. This 4 unit property offers significant upside with a unit mix of two 1 bed 1 bath units, one 4 bed 2 bath unit, and one 5 bed 1 bath unit with a private laundry room. Excellent income potential with BRRR upside, potential to reconfigure into a 5 unit setup, and strong short term rental appeal. Property requires a full renovation and is being sold as is. Cash only, will not qualify for traditional financing. A substantial amount of renovation materials are already on site and ready for installation, helping streamline the project. With an estimated after repair value of $500K+, this is a compelling opportunity for investors lookin

Key facts

• Off street parking
• Full renovation
• Private laundry room

Tags

• PRIVATE LAUNDRY ROOM
• FULL RENOVATION
• CORNER LOT
• OFF STREET PARKING

Property features AI

Finance

• Financial info: Property is a 4-unit investment (quadruplex)

Exterior

• Parking: 2 garage spaces; Off-street parking; Driveway and garage; 2 total parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Quadruplex; Brick construction; Brick/mortar foundation
• Construction: Brick construction materials; Brick/mortar foundation; Rubber roof
• Exterior features: Rubber roof; Other exterior features; Garages on property; Level, corner lot

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 3 bedrooms; Unit 3: 4 bedrooms; Unit 4: 3 bedrooms
• Flooring: Tile; Carpet; Hardwood; Laminate
• Bathrooms: 5 full bathrooms total; Full baths located on 1st, 2nd, 3rd (two), and 4th levels
• Heating & cooling: Has heating; Baseboard heating; Space heater; Natural gas heating; Wood stove
• Interior features: Paddle fan; Tray ceilings; Built-in features
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 1×4bd/2ba + 1×5bd/1ba units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $528/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $275k).
• Cap rate 17.5% vs local median 5.9% in Watervliet — 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 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,662/mo this rent would consume 104% of the median local household income ($65k/yr) (locally 1224% 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 $8k 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 + 6.6% rent growth), your $77k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $190k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $275,000

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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: 2.06% ✓
• Cap rate: 17.52%
• Cash-on-cash: 40.09%
• DSCR: 2.78
• GRM: 4.0

CMA / ARV

• ARV (median comp): $588,548
• List price: $275,000
• Delta: -53.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 2nd St	0.48mi	12/8.0	6,566 (+2%)	6mo	$950,000	$145	57

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 · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 2.45×
• Total profit: $111,638
• Equity at exit: $41,003

10-year hold

• IRR: 41.8%
• Equity multiple: 5.75×
• Total profit: $366,124
• Equity at exit: $23,777

Cash invested: $77,000 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $5,662 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,189
• Net cashflow: $2,112

Break-even live

Break-even rent $2,988

Max offer price $275,000

Occupancy floor 58%

Sensitivity live

Price	-10% $2,302	-5% $2,207	+0% $2,112	+5% $2,017	+10% $1,922
Rent	-10% $1,665	-5% $1,888	+0% $2,112	+5% $2,336	+10% $2,559
Rate	-1.0pp $2,251	-0.5pp $2,182	base $2,112	+0.5pp $2,041	+1.0pp $1,968

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,546
1× unit	4	2	$1,059
1× unit	5	1	$1,058
Total (4 units)			$5,662

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   status Pending 820-char remark
2. 2026-04-29
   listed $275,000 Active 820-char remark
3. 2024-09-20
   price $295,000
4. 2024-07-01
   status Active
5. 2024-06-03
   status Pending
6. 2024-06-03
   historical
7. 2024-05-31
   listed $350,000 Active
8. 2007-12-19
   soldstatus $190,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $67,944
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$6,900
• − Repairs & maintenance: −$5,436
• − Management: −$5,436
• − Depreciation: −$8,000
• Taxable income: $22,644
• Est. tax owed @ 24.0%: −$5,434
• After-tax cash flow: $19,911/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: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

Amenities A+ Commute A Cost of living B+ Crime D+ Employment C Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, NY
• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 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: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

+44.7% since first listed

8 events — show timeline

• 2026-05-05 Pending — Global MLS
• 2026-04-29 Listed $275,000 Global MLS
• 2024-09-20 Price Changed $295,000 Global MLS
• 2024-07-01 Relisted — Global MLS
• 2024-06-03 Pending — Global MLS
• 2024-06-03 Listing Removed — Global MLS
• 2024-05-31 Listed $350,000 Global MLS
• 2007-12-19 Sold (Public Records) $190,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $14,738 · +3.6% YoY. Source: county tax records.