229 Green St · Schenectady, NY 12305

$284,900

6 bd · 2.0 ba · 2,353 sqft · MultiFamily public records · 61 Days on market

Built 1900 3,920 sqft lot $121/sqft · 20% below area Est $356k · 20% under

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Why this score? — see what drove the A- 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
• Appreciation +6.6/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Nestled in the heart of Schenectady's sought-after Stockade neighborhood, this traditional brick triplex offers a rare investment opportunity in one of the city's most picturesque and historic areas. Fully rented with long-term tenants in place, this property provides immediate cash flow and solid rental history. The layout features two units on the first floor and a third unit on the second floor. Classic brick construction, walkable surroundings, and close proximity to downtown, restaurants, and Rivers Casino make this a high-demand location for tenants.

Key facts

• Long-term tenants
• Fully rented
• 3,920 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• FULLY RENTED
• LONG-TERM TENANTS
• CLASSIC BRICK CONSTRUCTION
• WALKABLE SURROUNDINGS
• CLOSE PROXIMITY TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $822/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $285k).
• Recommended offer: $268k (6.0% below list) — sets the bar for market timing.

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: Howe Elementary School (math 44% / reading 54%, grade D, #1,085 of 2,108 statewide, top 56%, 363 students, 69% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); 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 49% at this address vs 36% district-wide (+13 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: 21 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.2% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 8 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 $96k; list at $285k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $267,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.07% ✓
• Cap rate: 16.68%
• Cash-on-cash: 37.09%
• DSCR: 2.65
• GRM: 4.0

CMA / ARV

• ARV (median comp): $355,582
• List price: $284,900
• Delta: -19.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 N Ferry St	0.13mi	6/2.0	2,600 (+10%)	6mo	$275,000	$106	71
5 Barney St	0.68mi	6/2.0	2,280 (-3%)	9mo	$250,000	$110	55
531 Nott St	0.74mi	6/2.0	2,524 (+7%)	4mo	$210,000	$83	50
515 South Ave	0.35mi	5/3.0 (-1)	2,070 (-12%)	6mo	$172,000	$83	50
1515 Foster Ave	0.74mi	6/2.0	2,256 (-4%)	18mo	$230,000	$102	43
316 Georgetta Dix Plz	0.66mi	6/4.0	2,664 (+13%)	4mo	$262,500	$99	35
750 Eastern Ave Ave	0.75mi	5/2.0 (-1)	2,210 (-6%)	21mo	$200,000	$90	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 3.44×
• Total profit: $194,615
• Equity at exit: $131,340

10-year hold

• IRR: 42.7%
• Equity multiple: 6.88×
• Total profit: $469,351
• Equity at exit: $204,964

Cash invested: $79,772 (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 12305

• Home prices YoY: 1.2%
• Active inventory: 21
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $5,891 high
• Mortgage (P&I): −$1,494
• Tax from tax record: −$576 /mo · $6,908/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,237
• Net cashflow: $2,465

Break-even live

Break-even rent $2,770

Max offer price $284,900

Occupancy floor 53%

Sensitivity live

Price	-10% $2,627	-5% $2,546	+0% $2,465	+5% $2,385	+10% $2,304
Rent	-10% $2,000	-5% $2,233	+0% $2,465	+5% $2,698	+10% $2,931
Rate	-1.0pp $2,609	-0.5pp $2,538	base $2,465	+0.5pp $2,392	+1.0pp $2,317

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$5,892
Total (3 units)			$5,891

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-21
   days on market $284,900 Active 61 DOM
2. 2026-06-18
   days on market $284,900 Active 58 DOM
3. 2026-06-17
   days on market $284,900 Active 57 DOM
4. 2026-06-16
   days on market $284,900 Active 56 DOM
5. 2026-06-15
   days on market $284,900 Active 55 DOM
6. 2026-06-14
   days on market $284,900 Active 53 DOM
7. 2026-06-13
   days on market $284,900 Active 52 DOM
8. 2026-06-10
   days on market $284,900 Active 50 DOM
9. 2026-06-09
   days on market $284,900 Active 49 DOM
10. 2026-06-08
    days on market $284,900 Active 48 DOM
11. 2026-06-07
    days on market $284,900 Active 47 DOM
12. 2026-06-03
    days on market $284,900 Active 43 DOM
13. 2026-06-02
    days on market $284,900 Active 42 DOM
14. 2026-06-01
    days on market $284,900 Active 41 DOM
15. 2026-05-31
    days on market $284,900 Active 40 DOM
16. 2026-05-31
    days on market $284,900 Active 39 DOM
17. 2026-04-21
    listed $284,900 Active 564-char remark

    Show marketing remark (564 chars)

    Nestled in the heart of Schenectady's sought-after Stockade neighborhood, this traditional brick triplex offers a rare investment opportunity in one of the city's most picturesque and historic areas. Fully rented with long-term tenants in place, this property provides immediate cash flow and solid rental history. The layout features two units on the first floor and a third unit on the second floor. Classic brick construction, walkable surroundings, and close proximity to downtown, restaurants, and Rivers Casino make this a high-demand location for tenants.

18. 2026-04-21
    historical

    Show marketing remark (564 chars)

    Nestled in the heart of Schenectady's sought-after Stockade neighborhood, this traditional brick triplex offers a rare investment opportunity in one of the city's most picturesque and historic areas. Fully rented with long-term tenants in place, this property provides immediate cash flow and solid rental history. The layout features two units on the first floor and a third unit on the second floor. Classic brick construction, walkable surroundings, and close proximity to downtown, restaurants, and Rivers Casino make this a high-demand location for tenants.

19. 2026-03-11
    price $289,900
20. 2026-01-16
    price $294,900
21. 2025-12-16
    price $299,900
22. 2025-11-21
    price $309,900
23. 2025-10-20
    listed $319,900 Active
24. 2017-01-01
    historical
25. 2016-09-08
    listed $189,000 New
26. 2016-01-01
    historical
27. 2015-09-16
    status Active
28. 2015-09-16
    price $174,000
29. 2015-09-11
    historical
30. 2015-09-10
    listed $179,000 Active
31. 2012-11-01
    historical
32. 2012-04-24
    listed $189,000
33. 2008-09-04
    historical
34. 2008-04-06
    listed $190,000
35. 2003-09-11
    soldstatus $95,500
36. 2003-09-03
    soldstatus $95,500
37. 2003-04-09
    listed $90,000

ⓘ 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: $6,908 · $576/mo
• Projected year-2 tax: $6,908 · $576/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 4/10 Moderate FEMA zone X (unshaded) · 23% 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 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: $70,692
• − Mortgage interest: −$15,959
• − Property taxes: −$6,908
• − Insurance: −$1,424
• − Repairs & maintenance: −$5,655
• − Management: −$5,655
• − Depreciation: −$8,288
• Taxable income: $26,802
• Est. tax owed @ 24.0%: −$6,433
• After-tax cash flow: $23,153/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): 7,356
• Household income: $53,326
• Rent vs Own: 85.4% rent · 14.6% own
• Severe rent burden: 962.0

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 0.60)
• Race & ethnicity: White 59% Black 20% Two or more races 14% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Serbian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Russian/Polish/Slavic 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: ▲ 3.20%
• Current HPI: 276.7183
• 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

+216.6% since first listed

21 events — show timeline

• 2026-04-21 Listed $284,900 Global MLS
• 2026-04-21 Listing Removed — Global MLS
• 2026-03-11 Price Changed $289,900 Global MLS
• 2026-01-16 Price Changed $294,900 Global MLS
• 2025-12-16 Price Changed $299,900 Global MLS
• 2025-11-21 Price Changed $309,900 Global MLS
• 2025-10-20 Listed $319,900 Global MLS
• 2017-01-01 Listing Removed — Global MLS
• 2016-09-08 Listed $189,000 Global MLS
• 2016-01-01 Listing Removed — Global MLS
• 2015-09-16 Relisted — Global MLS
• 2015-09-16 Price Changed $174,000 Global MLS
• 2015-09-11 Listing Removed — Global MLS
• 2015-09-10 Listed $179,000 Global MLS
• 2012-11-01 Listing Removed — Global MLS
• 2012-04-24 Listed $189,000 Global MLS
• 2008-09-04 Listing Removed — Global MLS
• 2008-04-06 Listed $190,000 Global MLS
• 2003-09-11 Sold (Public Records) $95,500 Public Records
• 2003-09-03 Sold (MLS) $95,500 Global MLS
• 2003-04-09 Listed $90,000 Global MLS

Property tax history

+0.7%/yr

Latest (2025): $6,908 · +3.0% YoY. Source: county tax records.