431 Clarendon St · Schenectady, NY 12308

$98,000

3 bd · 1.0 ba · 992 sqft · SingleFamily public records · 3 Days on market

Built 1910 3,484 sqft lot Est $192k · 49% 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
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move in ready- 3 bedroom and 1 full bath. This home offers front porch, private yard and driveway. Long-term Tenant and Rental Income. Why Rent When You Can Own for Less. Low Taxes a Plus! Property to be sold as is.

Key facts

• 3,484 sq ft lot
• 2 parking spots
• Built 1910

🏷️ Possibly a rental listed for sale. The $98,000 price doesn't fit this home's estimated sale value (~$192,448) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Cap rate 11.5% 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: 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 82% at this address vs 36% district-wide (+46 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: 78 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• This rent runs 30% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.57%
• DSCR: 1.83
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $192,448
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
726 Mason St	0.29mi	3/1.0	1,002 (+1%)	11mo	$157,600	$157	76
626 Hattie St	0.45mi	3/1.5	1,044 (+5%)	8mo	$210,000	$201	61
826 Raymond St	0.32mi	2/1.0 (-1)	1,056 (+6%)	13mo	$170,500	$161	59
1926 Golf Ave	0.62mi	3/1.5	1,033 (+4%)	10mo	$265,000	$257	54
556 Clarendon St	0.15mi	2/1.0 (-1)	868 (-12%)	17mo	$82,000	$94	53
1918 Lenox Rd	0.42mi	3/1.0	900 (-9%)	22mo	$175,000	$194	46
15 Greenway Dr	0.69mi	3/1.5	1,100 (+11%)	13mo	$360,000	$327	36

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: 10.4%
• Equity multiple: 1.41×
• Total profit: $11,286
• Equity at exit: $14,612

10-year hold

• IRR: 19.6%
• Equity multiple: 2.65×
• Total profit: $45,145
• Equity at exit: $8,473

Cash invested: $27,440 (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: 78
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,594 high
• Mortgage (P&I): −$514
• Tax from tax record: −$280 /mo · $3,361/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $425

Break-even live

Break-even rent $1,057

Max offer price $98,000

Occupancy floor 68%

Sensitivity live

Price	-10% $480	-5% $452	+0% $425	+5% $397	+10% $369
Rent	-10% $299	-5% $362	+0% $425	+5% $488	+10% $551
Rate	-1.0pp $474	-0.5pp $450	base $425	+0.5pp $399	+1.0pp $373

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2042 Van Vranken Ave Schenectady, NY	2.0	1.0	816	$1,200	$1.47	44d	1	0.32mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,445	$2.21	14d	1	0.73mi
540 Northend Dr Schenectady, NY	1.0–2.0	1.0	906	$1,725	$1.90	14d	3	0.78mi
23 Monroe St Unit 23 2R Schenectady, NY	2.0	1.0	800	$1,325	$1.66	14d	1	0.81mi
1275 Gerling St Schenectady, NY	1.0–2.0	1.0	725	$1,440	$1.99	14d	1	0.88mi
1187 Hillside Ave Schenectady, NY	1.0–2.0	1.0–2.0	900	$1,599	$1.78	14d	1	0.95mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	24d	1	1.00mi
2150 Rosa Rd Schenectady, NY	2.0	1.0–2.0	768	$1,690	$2.20	14d	1	1.03mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	24d	1	1.09mi
120 De Graff St Schenectady, NY	4.0	1.0	1022	$1,600	$1.57	44d	1	1.10mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	19d	1	1.24mi
301 Connor Ct Niskayuna, NY	2.0	2.0	950	$1,650	$1.74	14d	1	1.38mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	14d	1	1.39mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$1,515	$1.47	14d	9	1.47mi

Listing history 8 events

1. 2024-01-11
   soldstatus $98,500
2. 2023-10-31
   status Pending
3. 2023-10-28
   listed $98,000 Active
4. 2023-10-20
   status Active
5. 2023-08-07
   status Pending
6. 2023-08-07
   historical
7. 2023-05-25
   listed $98,000 Active
8. 2021-12-06
   soldstatus $80,000

ⓘ 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: $3,361 · $280/mo
• Projected year-2 tax: $3,361 · $280/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 3/10 Moderate
• 🌡 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: $19,131
• − Mortgage interest: −$5,490
• − Property taxes: −$3,361
• − Insurance: −$490
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$2,851
• Taxable income: $3,879
• Est. tax owed @ 24.0%: −$931
• After-tax cash flow: $4,165/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

+23.1% since first listed

8 events — show timeline

• 2024-01-11 Sold (Public Records) $98,500 Public Records
• 2023-10-31 Pending — Global MLS
• 2023-10-28 Listed $98,000 Global MLS
• 2023-10-20 Relisted — Global MLS
• 2023-08-07 Pending — Global MLS
• 2023-08-07 Listing Removed — Global MLS
• 2023-05-25 Listed $98,000 Global MLS
• 2021-12-06 Sold (Public Records) $80,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $3,361 · +4.7% YoY. Source: county tax records.