1063 University Pl · Schenectady, NY 12308

$324,999

8 bd · 3.0 ba · 3,290 sqft · MultiFamily public records · 15 Days on market

Built 1900 4,356 sqft lot Est $345k · 6% under

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Why this score? — see what drove the C 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 +22.4/30.0
• ARV discount +10.2/15.0
• DSCR +7.2/10.0
• 1% rule +7.0/10.0
• 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

Multi-family units

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

Listing remarks MLS

This would make a great student rental investment property. Top Floor is HUGE, 2 Lvrms, 4 Bdrms, DnRm and modern kitchen. There are two first flr 2 bdrm, one has a foraml DnRm, multiple easy access to all apartments, semi finished laundry room, separte bsmt storage units. Very Good Condition

Key facts

• Roof 7 years old
• New furnace
• Major updates

Tags

• TWO-FAMILY PROPERTY
• STRONG RENTAL POTENTIAL
• MAJOR UPDATES
• ROOF 7 YEARS OLD
• NEW FURNACE
• HARDWIRED SMOKE DETECTORS

Property features AI

Finance

• Financial info: Two-unit multifamily property; Tenants are responsible for heat, electricity, and gas; Owner is responsible for water and trash collection

Exterior

• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Duplex; Stone foundation; Asphalt roof
• Construction: Wood siding
• Exterior features: Front porch; Rear enclosed porch; Level lot

Interior

• Bedrooms: Two units each with 4 bedrooms (Unit 1: 4 bedrooms — Unit 2: 4 bedrooms)
• Flooring: Hardwood flooring; Ceramic tile
• Bathrooms: Three full bathrooms total (two full baths on the 1st level, one full bath on the 2nd level); Unit breakdown: Unit 1 has 2 full baths; Unit 2 has 1 full bath
• Heating & cooling: Forced air and steam heating; Natural gas heating
• Interior features: Wood-frame windows; Ceramic tile and hardwood flooring; Full basement
• Laundry & utility: Washer hookup; Electric and gas dryer hookups

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive. Per door: $270/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $320k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 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: 79 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,885/mo this rent would consume 73% of the median local household income ($63k/yr) (locally 1016% 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 $10k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $109k; list at $325k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $320,124 (1.5% below list)

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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $345,450
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1045 University Pl	0.04mi	8/2.0	2,940 (-11%)	14mo	$340,000	$116	64
21 Grove Pl	0.54mi	8/2.0	3,168 (-4%)	0mo	$280,000	$88	64
1687 Avenue A	0.63mi	7/3.0 (-1)	3,348 (+2%)	4mo	$396,500	$118	59
1507 Carrie St	0.43mi	8/4.5	3,228 (-2%)	18mo	$90,000	$28	56
1381 Union St	0.70mi	8/3.0	3,284 (-0%)	16mo	$344,000	$105	54
415 Victory Ave	0.59mi	7/3.0 (-1)	3,144 (-4%)	13mo	$300,000	$95	49
1605 Van Vranken Ave	0.52mi	7/6.0 (-1)	3,132 (-5%)	8mo	$425,000	$136	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-18,026
• Equity at exit: $48,458

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $29,550
• Equity at exit: $28,100

Cash invested: $91,000 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 79
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $3,885 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$689 /mo · $8,271/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$816
• Net cashflow: $540

Break-even live

Break-even rent $3,201

Max offer price $324,999

Occupancy floor 81%

Sensitivity live

Price	-10% $724	-5% $632	+0% $540	+5% $448	+10% $356
Rent	-10% $233	-5% $387	+0% $540	+5% $694	+10% $847
Rate	-1.0pp $704	-0.5pp $623	base $540	+0.5pp $456	+1.0pp $370

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,886
Total (2 units)			$3,885

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $324,999 Active 15 DOM
2. 2026-06-18
   days on market $324,999 Active 12 DOM
3. 2026-06-17
   days on market $324,999 Active 11 DOM
4. 2026-06-16
   days on market $324,999 Active 10 DOM
5. 2026-06-15
   days on market $324,999 Active 9 DOM
6. 2026-06-14
   days on market $324,999 Active 7 DOM
7. 2026-06-13
   days on market $324,999 Active 6 DOM
8. 2026-06-10
   days on market $324,999 Active 4 DOM
9. 2026-06-09
   days on market $324,999 Active 3 DOM
10. 2026-06-08
    days on market $324,999 Active 2 DOM
11. 2026-06-07
    remarks 617-char remark
12. 2026-06-07
    listed $324,999 Active 1 DOM

ⓘ 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: $8,271 · $689/mo
• Projected year-2 tax: $8,271 · $689/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $46,620
• − Mortgage interest: −$18,205
• − Property taxes: −$8,271
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,730
• − Management: −$3,730
• − Depreciation: −$9,455
• Taxable income: $1,606
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $6,097/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

+333.3% since first listed

10 events — show timeline

• 2026-06-06 Listed $324,999 Global MLS
• 2009-02-13 Sold (MLS) $109,000 Global MLS
• 2008-11-24 Listing Removed — Global MLS
• 2008-10-24 Listed $119,000 Global MLS
• 2006-03-30 Sold (Public Records) $146,000 Public Records
• 2006-03-29 Sold (MLS) $129,900 Global MLS
• 2005-12-07 Listing Removed — Global MLS
• 2005-11-28 Listed $129,900 Global MLS
• 2000-12-08 Sold (Public Records) $70,000 Public Records
• 1995-06-09 Sold (Public Records) $75,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $8,271 · +2.6% YoY. Source: county tax records.