308 4th St · Troy, NY 12180

$372,000

7 bd · 3.0 ba · 3,462 sqft · MultiFamily public records · 83 Days on market

Built 1935 3,049 sqft lot $107/sqft · 29% below area Est $516k · 28% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Welcome to 304 4th Street, a well positioned triplex offering a strong opportunity for both investors and owner-occupants , only a few blocks from downtown Troy. This three unit property features separate utilities, making management straightforward and expenses easier to allocate, an attractive setup for portfolio investors seeking scalable assets. Each unit provides practical layouts with solid rental potential, while the overall configuration also makes this an excellent option for owner-occupied living, live in one unit and offset your mortgage with rental income from the others. 308 4th St is just around the corner from the beloved DeFazio's Pizzeria, a destination that draws consistent activity to the area. Residents also benefit from close proximity to downtown Troy's restaurants, shops, farmers market, and entertainment options, plus convenient access to major roadways for commuting. Highlights: - Ideal for investors or owner-occupants - Separate utilities for each unit - Potential for value-add improvements and increased rents - Convenient location. As an added opportunity, this property is part of a 14-unit investment portfolio, with all buildings located within close walking distance. All units across the portfolio feature separate utilities, allowing for simplified management and cleaner expense allocation. The portfolio is being offered together for $1,534,000, presenting a rare opportunity for investors to acquire multiple assets in one concentrated location, supporting operational efficiency and streamlined management. Additional properties included in this portfolio are listed below. 278-280 4th Street (6 Units) 276 3rd Street (5 Units)

Key facts

• Practical layouts
• Strong opportunity
• Convenient location

Tags

• STRONG OPPORTUNITY
• PRACTICAL LAYOUTS
• SOLID RENTAL POTENTIAL
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $372k.

Deal economics

• At list price, monthly cash flow is $806 ($10k/yr) — positive. Per door: $269/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $372k).
• Recommended offer: $350k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $5,040/mo this rent would consume 80% 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 $3k of loan paydown is wiped out by about $11k 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 $104k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $200k; list at $372k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1935 — 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 $349,680 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1935 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.35% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.59%
• DSCR: 1.65
• GRM: 6.2

CMA / ARV

• ARV (median comp): $515,977
• List price: $372,000
• Delta: -27.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
78 Hill St	0.12mi	7/4.0	3,474 (+0%)	6mo	$449,000	$129	84
331 2nd St	0.28mi	8/3.5 (+1)	3,450 (-0%)	3mo	$330,000	$96	77
231 2nd St	0.15mi	6/3.0 (-1)	3,825 (+10%)	9mo	$316,000	$83	63
180 Hill St	0.23mi	8/3.0 (+1)	3,243 (-6%)	15mo	$338,000	$104	61
429 1st St	0.60mi	7/2.0	3,576 (+3%)	6mo	$285,000	$80	57
192 4th St	0.32mi	8/3.0 (+1)	3,175 (-8%)	24mo	$450,000	$142	46
229 2nd St	0.15mi	6/6.0 (-1)	3,840 (+11%)	15mo	$450,000	$117	45
379 3rd St	0.31mi	8/3.0 (+1)	3,820 (+10%)	23mo	$280,000	$73	44
320 1st St	0.32mi	7/2.0	3,017 (-13%)	20mo	$205,000	$68	42
181 4th St	0.35mi	6/4.0 (-1)	3,100 (-10%)	21mo	$535,000	$173	40
425 1st St	0.59mi	6/2.0 (-1)	3,216 (-7%)	23mo	$225,000	$70	32

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $1,219
• Equity at exit: $55,466

10-year hold

• IRR: 12.1%
• Equity multiple: 2.06×
• Total profit: $110,403
• Equity at exit: $32,164

Cash invested: $104,160 (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: 18.5×

Monthly cashflow live

• Estimated rent: $5,040 high
• Mortgage (P&I): −$1,951
• Tax from tax record: −$609 /mo · $7,311/yr
• Insurance: −$155
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,058
• Net cashflow: $806

Break-even live

Break-even rent $4,020

Max offer price $372,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,040
Total (3 units)			$5,040

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: $93,000
• Closing costs: $11,160
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2326 15th St Unit 2 Troy, NY	8.0	2.5	2500	$650	$0.26	14d	1	1.34mi

Listing history 37 events

1. 2026-06-18
   days on market $372,000 Active 83 DOM
2. 2026-06-17
   days on market $372,000 Active 82 DOM
3. 2026-06-16
   days on market $372,000 Active 81 DOM
4. 2026-06-15
   days on market $372,000 Active 80 DOM
5. 2026-06-14
   days on market $372,000 Active 78 DOM
6. 2026-06-13
   days on market $372,000 Active 77 DOM
7. 2026-06-10
   days on market $372,000 Active 75 DOM
8. 2026-06-09
   days on market $372,000 Active 74 DOM
9. 2026-06-08
   days on market $372,000 Active 73 DOM
10. 2026-06-07
    days on market $372,000 Active 72 DOM
11. 2026-06-03
    days on market $372,000 Active 68 DOM
12. 2026-06-02
    days on market $372,000 Active 67 DOM
13. 2026-06-01
    days on market $372,000 Active 66 DOM
14. 2026-05-31
    days on market $372,000 Active 65 DOM
15. 2026-05-31
    days on market $372,000 Active 64 DOM
16. 2026-03-25
    listed $372,000 Active 1705-char remark

    Show marketing remark (1705 chars)

    Welcome to 304 4th Street, a well positioned triplex offering a strong opportunity for both investors and owner-occupants , only a few blocks from downtown Troy. This three unit property features separate utilities, making management straightforward and expenses easier to allocate, an attractive setup for portfolio investors seeking scalable assets. Each unit provides practical layouts with solid rental potential, while the overall configuration also makes this an excellent option for owner-occupied living, live in one unit and offset your mortgage with rental income from the others. 308 4th St is just around the corner from the beloved DeFazio's Pizzeria, a destination that draws consistent activity to the area. Residents also benefit from close proximity to downtown Troy's restaurants, shops, farmers market, and entertainment options, plus convenient access to major roadways for commuting. Highlights: - Ideal for investors or owner-occupants - Separate utilities for each unit - Potential for value-add improvements and increased rents - Convenient location. As an added opportunity, this property is part of a 14-unit investment portfolio, with all buildings located within close walking distance. All units across the portfolio feature separate utilities, allowing for simplified management and cleaner expense allocation. The portfolio is being offered together for $1,534,000, presenting a rare opportunity for investors to acquire multiple assets in one concentrated location, supporting operational efficiency and streamlined management. Additional properties included in this portfolio are listed below. 278-280 4th Street (6 Units) 276 3rd Street (5 Units)

17. 2022-07-13
    historical
18. 2022-06-16
    price $314,900
19. 2022-03-31
    listed $339,000 Active
20. 2020-03-24
    soldstatus $200,000
21. 2020-03-18
    soldstatus $200,000 Closed (Final Sale)
22. 2020-03-06
    status Pend (Under Cntr)
23. 2020-01-22
    status Active - Under Contract
24. 2019-12-18
    status Pend (Under Cntr)
25. 2019-11-06
    listed $230,000 New
26. 2016-09-13
    soldstatus $170,000
27. 2016-07-27
    soldstatus $179,900 Closed (Final Sale)
28. 2016-07-01
    status Pend (Under Cntr)
29. 2015-09-10
    listed $179,900 Active
30. 2010-09-13
    historical
31. 2009-11-17
    listed $189,900
32. 2007-05-01
    soldstatus $133,000
33. 2007-04-11
    soldstatus $133,000
34. 2007-02-28
    listed $138,000
35. 2007-02-28
    historical
36. 2000-03-17
    soldstatus $80,224
37. 1994-07-29
    soldstatus $86,500

ⓘ 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: $7,311 · $609/mo
• Projected year-2 tax: $7,311 · $609/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 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 · 17 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: $60,480
• − Mortgage interest: −$20,838
• − Property taxes: −$7,311
• − Insurance: −$7,385
• − Repairs & maintenance: −$4,838
• − Management: −$4,838
• − Depreciation: −$10,822
• Taxable income: $4,447
• Est. tax owed @ 24.0%: −$1,067
• After-tax cash flow: $8,606/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

+330.1% since first listed

22 events — show timeline

• 2026-03-25 Listed $372,000 Global MLS
• 2022-07-13 Listing Removed — Global MLS
• 2022-06-16 Price Changed $314,900 Global MLS
• 2022-03-31 Listed $339,000 Global MLS
• 2020-03-24 Sold (Public Records) $200,000 Public Records
• 2020-03-18 Sold (MLS) $200,000 Global MLS
• 2020-03-06 Pending — Global MLS
• 2020-01-22 Relisted — Global MLS
• 2019-12-18 Pending — Global MLS
• 2019-11-06 Listed $230,000 Global MLS
• 2016-09-13 Sold (Public Records) $170,000 Public Records
• 2016-07-27 Sold (MLS) $179,900 Global MLS
• 2016-07-01 Pending — Global MLS
• 2015-09-10 Listed $179,900 Global MLS
• 2010-09-13 Listing Removed — Global MLS
• 2009-11-17 Listed $189,900 Global MLS
• 2007-05-01 Sold (Public Records) $133,000 Public Records
• 2007-04-11 Sold (MLS) $133,000 Global MLS
• 2007-02-28 Listing Removed — Global MLS
• 2007-02-28 Listed $138,000 Global MLS
• 2000-03-17 Sold (Public Records) $80,224 Public Records
• 1994-07-29 Sold (Public Records) $86,500 Public Records

Property tax history

+18.2%/yr

Latest (2025): $7,311 · +24.5% YoY. Source: county tax records.