61 Tyler St · Troy, NY 12180

$249,900

5 bd · 2.0 ba · 2,332 sqft · MultiFamily public records · 39 Days on market

Built 1910 3,049 sqft lot $107/sqft · 15% below area Est $301k · 17% 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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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

Well-maintained two-family property in the heart of Troy offering modern updates and strong rental potential. The first-floor unit features 2 bedrooms and a fully updated kitchen, complemented by efficient split-system air conditioning for year-round comfort. The second-floor unit offers 3 spacious bedrooms and a bright living room with a stunning cathedral ceiling, creating an open and airy feel. SELLING AS IS. The property is offered in as-is condition. Any inspections conducted are for informational purposes only. Seller will not make repairs or offer credits

Key facts

• 3,049 sq ft lot
• 2 parking spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $862 ($10k/yr) — positive. Per door: $431/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 5 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 $3,395/mo this rent would consume 54% of the median local household income ($76k/yr) (locally 2698% 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 + 4.9% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $15k; list at $250k implies a 1566% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.36% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.74%
• DSCR: 1.70
• GRM: 6.1

CMA / ARV

• ARV (median comp): $300,925
• List price: $249,900
• Delta: -16.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
462 1st St	0.20mi	6/2.0 (+1)	2,376 (+2%)	9mo	$319,500	$134	75
542 1st St	0.18mi	6/2.0 (+1)	2,300 (-1%)	13mo	$197,000	$86	74
508 2nd St	0.14mi	6/2.0 (+1)	2,244 (-4%)	11mo	$230,000	$102	73
527 2nd Street St	0.15mi	5/3.0	2,464 (+6%)	8mo	$160,000	$65	73
412 2nd St	0.33mi	6/2.0 (+1)	2,256 (-3%)	2mo	$240,000	$106	73
632 4th St	0.13mi	5/3.0	2,205 (-5%)	12mo	$210,000	$95	71
21 Lincoln Ave	0.14mi	4/2.0 (-1)	2,142 (-8%)	6mo	$115,000	$54	70
369 4th St	0.58mi	5/2.0	2,222 (-5%)	8mo	$192,000	$86	59
30 Sheridan Ave	0.72mi	5/2.0	2,400 (+3%)	8mo	$285,000	$119	54
329 4th St	0.71mi	5/2.0	2,266 (-3%)	10mo	$330,000	$146	54
31 Sheridan Ave	0.70mi	4/2.0 (-1)	2,202 (-6%)	6mo	$160,000	$73	48
358 1st St	0.43mi	6/2.0 (+1)	2,024 (-13%)	10mo	$160,000	$79	44

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.30×
• Total profit: $21,076
• Equity at exit: $37,261

10-year hold

• IRR: 18.5%
• Equity multiple: 2.68×
• Total profit: $117,409
• 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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $3,395 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$350 /mo · $4,195/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $862

Break-even live

Break-even rent $2,303

Max offer price $249,900

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,630
1× unit	3	1	$1,765
Total (2 units)			$3,395

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 2nd St Troy, NY	4.0	1.5	2442	$3,000	$1.23	21d	1	1.04mi
51 14th St Unit 2 Troy, NY	4.0	2.0	2000	$725	$0.36	19d	1	1.21mi
97 14th St Unit 2 Troy, NY	5.0	2.0	1600	$625	$0.39	19d	1	1.31mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$3,635	$2.01	14d	7	1.34mi
1820 Highland Ave Unit 2 Troy, NY	4.0	2.0	1680	$725	$0.43	19d	1	1.37mi

Listing history 15 events

1. 2026-04-14
   listed $249,900 Active 568-char remark

   Show marketing remark (568 chars)

   Well-maintained two-family property in the heart of Troy offering modern updates and strong rental potential. The first-floor unit features 2 bedrooms and a fully updated kitchen, complemented by efficient split-system air conditioning for year-round comfort. The second-floor unit offers 3 spacious bedrooms and a bright living room with a stunning cathedral ceiling, creating an open and airy feel. SELLING AS IS. The property is offered in as-is condition. Any inspections conducted are for informational purposes only. Seller will not make repairs or offer credits

2. 2025-11-04
   historical
3. 2025-07-31
   status Active
4. 2025-07-22
   historical
5. 2025-01-22
   status Active
6. 2025-01-22
   historical
7. 2024-07-26
   status Active
8. 2024-07-22
   historical
9. 2024-02-08
   status Active
10. 2024-02-06
    historical
11. 2024-01-22
    listed $249,000 Active
12. 2003-06-17
    soldstatus $15,000
13. 2003-06-16
    soldstatus $15,000
14. 2003-04-15
    historical
15. 2003-04-10
    listed $11,000

ⓘ 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: $4,195 · $350/mo
• Projected year-2 tax: $4,209 · $351/mo
• Expected delta: +$14/yr (+$1/mo · 0.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $40,740
• − Mortgage interest: −$13,998
• − Property taxes: −$4,195
• − Insurance: −$1,916
• − Repairs & maintenance: −$3,259
• − Management: −$3,259
• − Depreciation: −$7,270
• Taxable income: $6,843
• Est. tax owed @ 24.0%: −$1,642
• After-tax cash flow: $8,705/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

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 (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

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: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+2171.8% since first listed

15 events — show timeline

• 2026-04-14 Listed $249,900 Global MLS
• 2025-11-04 Listing Removed — Global MLS
• 2025-07-31 Relisted — Global MLS
• 2025-07-22 Listing Removed — Global MLS
• 2025-01-22 Relisted — Global MLS
• 2025-01-22 Listing Removed — Global MLS
• 2024-07-26 Relisted — Global MLS
• 2024-07-22 Listing Removed — Global MLS
• 2024-02-08 Relisted — Global MLS
• 2024-02-06 Listing Removed — Global MLS
• 2024-01-22 Listed $249,000 Global MLS
• 2003-06-17 Sold (Public Records) $15,000 Public Records
• 2003-06-16 Sold (MLS) $15,000 Global MLS
• 2003-04-15 Listing Removed — Global MLS
• 2003-04-10 Listed $11,000 Global MLS

Property tax history

+16.5%/yr

Latest (2025): $4,195 · +20.5% YoY. Source: county tax records.