1066-1068 Hegeman St · Schenectady, NY 12306

$239,900

4 bd · 2.0 ba · 1,660 sqft · MultiFamily public records · 19 Days on market

Built 1900 5,662 sqft lot $145/sqft · 38% below area Est $389k · 38% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +8.2/10.0
• 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

OPEN SUNDAY 5/3 12-2 Fantastic owner-occupied or investment opportunity in this well-maintained two-family home! Each unit offers 2 bedrooms, 1 full bath, separate utilities, and numerous updates including newer flooring, updated bathrooms, fresh paint, vinyl windows, and a 6-year-old furnace and hot water heater. Upper unit includes access to a walk-up attic offering exciting potential for additional finished space. Both units feature laundry hookups in the basement. Enjoy relaxing on the charming front porches or entertain in the private backyard. Ideal for owner-occupants looking to offset expenses or investors seeking strong rental potential. Conveniently located with plenty of upside.

Key facts

• 5,662 sq ft lot
• Parking
• Built 1900

Property features AI

Exterior

• Parking: Driveway with space for 1 vehicle
• Utilities: Public water; Public sewer
• Home design: Duplex; 1,660 living area; Vinyl siding; Asphalt roof
• Construction: Vinyl siding construction
• Exterior features: Rear covered porch; Front porch; Partial backyard fencing; Cleared lot

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Flooring: Vinyl; Carpet; Linoleum
• Bathrooms: 2 full bathrooms total (one full bath on 1st level, one full bath on 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating
• Interior features: Paddle fan; High-speed internet; Double-pane windows
• Laundry & utility: Washer hookup in basement; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive. Per door: $346/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 181 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

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.
• 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 $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $68k; list at $240k implies a 253% 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 $236,301 (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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.35%
• DSCR: 1.55
• GRM: 6.3

CMA / ARV

• ARV (median comp): $388,689
• List price: $239,900
• Delta: -38.28%
• 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
1909 Euclid Ave	0.36mi	4/2.0	1,650 (-1%)	12mo	$231,500	$140	72
802 Harrison Ave	0.35mi	4/2.0	1,728 (+4%)	12mo	$295,000	$171	66
954 Cleveland Ave	0.32mi	3/2.0 (-1)	1,541 (-7%)	8mo	$212,000	$138	62
2330 Fairlee St	0.63mi	5/2.0 (+1)	1,656 (-0%)	6mo	$300,000	$181	60
1320 4th Ave	0.72mi	4/2.0	1,564 (-6%)	4mo	$242,250	$155	53
1417 3rd Ave	0.66mi	5/3.0 (+1)	1,600 (-4%)	2mo	$175,000	$109	53
1108 Cutler St	0.54mi	4/2.0	1,848 (+11%)	10mo	$278,000	$150	48
1810 Campbell Ave	0.54mi	4/2.0	1,820 (+10%)	14mo	$255,999	$141	47
2820 Broadway	0.63mi	3/2.0 (-1)	1,800 (+8%)	7mo	$254,000	$141	46
417 Shannon St	0.48mi	4/2.0	1,900 (+14%)	9mo	$244,000	$128	46
1071-1073 Cutler St	0.56mi	5/2.0 (+1)	1,480 (-11%)	13mo	$140,000	$95	40
2857-2859 Plunkett Ave	0.61mi	3/2.0 (-1)	1,476 (-11%)	14mo	$220,000	$149	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: 2.1%
• Equity multiple: 1.08×
• Total profit: $5,291
• Equity at exit: $35,770

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $61,883
• Equity at exit: $20,742

Cash invested: $67,172 (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 12306

• Home prices YoY: -23.8%
• Active inventory: 181
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $3,176 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$460 /mo · $5,519/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $691

Break-even live

Break-even rent $2,301

Max offer price $239,900

Occupancy floor 73%

Sensitivity live

Price	-10% $827	-5% $759	+0% $691	+5% $623	+10% $555
Rent	-10% $440	-5% $566	+0% $691	+5% $817	+10% $942
Rate	-1.0pp $812	-0.5pp $752	base $691	+0.5pp $629	+1.0pp $566

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,176
Total (2 units)			$3,176

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	20d	1	0.28mi
909 Vischer Ave Schenectady, NY	3.0	1.5	1512	$1,995	$1.32	14d	1	0.39mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	14d	1	0.55mi
611 Cramer Ave Schenectady, NY	3.0	1.0	1100	$2,295	$2.09	14d	1	0.56mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	24d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   price $239,900 Active 19 DOM
2. 2026-06-18
   days on market $249,900 Active 19 DOM
3. 2026-06-17
   days on market $249,900 Active 18 DOM
4. 2026-06-16
   days on market $249,900 Active 17 DOM
5. 2026-06-15
   days on market $249,900 Active 16 DOM
6. 2026-06-14
   days on market $249,900 Active 14 DOM
7. 2026-06-13
   days on market $249,900 Active 13 DOM
8. 2026-06-10
   days on market $249,900 Active 11 DOM
9. 2026-06-09
   days on market $249,900 Active 10 DOM
10. 2026-06-08
    days on market $249,900 Active 9 DOM
11. 2026-06-07
    statusdays on market $249,900 Active 8 DOM
12. 2026-05-05
    status Pending 698-char remark
13. 2026-04-29
    listed $249,900 Active 698-char remark
14. 2018-08-07
    soldstatus $68,000
15. 2015-11-02
    soldstatus $72,500
16. 2004-09-27
    soldstatus $78,000

ⓘ 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: $5,519 · $460/mo
• Projected year-2 tax: $5,519 · $460/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 ≥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: $38,112
• − Mortgage interest: −$13,438
• − Property taxes: −$5,519
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,049
• − Management: −$3,049
• − Depreciation: −$6,979
• Taxable income: $4,879
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $7,123/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): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 629.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 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: ▼ -91.35%
• Current HPI: 292.1229
• 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

+207.6% since first listed

7 events — show timeline

• 2026-06-18 Price Changed $239,900 Global MLS
• 2026-06-05 Relisted — Global MLS
• 2026-05-05 Pending — Global MLS
• 2026-04-29 Listed $249,900 Global MLS
• 2018-08-07 Sold (Public Records) $68,000 Public Records
• 2015-11-02 Sold (Public Records) $72,500 Public Records
• 2004-09-27 Sold (Public Records) $78,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $5,519 · +3.6% YoY. Source: county tax records.