82 Dove St · Albany, NY 12210

$399,000

4 bd · 4.0 ba · 2,688 sqft · MultiFamily public records · 5 Days on market

Built 1870 1,306 sqft lot Est $323k · 24% over

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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 +24.1/30.0
• DSCR +7.8/10.0
• 1% rule +7.1/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

WELL MAINTAINED 3 UNIT WITH GREAT RENTS AND A STUNNING OWNER'S UNIT! SUNNY, NEW KITCHEN WITH CHERRY CABINETS & GRANITE COUNTERTOPS. OPEN DESIGN WITH EXPOSED BEAMS & BRICK, WOOD BURNING STOVE, SKYLIGHTS, DECKS & MUCH MORE! Excellent Condition

Key facts

• Private decks
• Washington park
• Off-street parking

Tags

• PRIVATE DECKS
• OFF-STREET PARKING
• WALKABLE LOCATION
• WASHINGTON PARK
• LOCAL CAFÉS
• RESTAURANTS

Property features AI

Finance

• Financial info: Three-unit property (triplex)

Exterior

• Parking: Total 2 parking spaces; Other parking features
• Utilities: Public water; Public sewer
• Home design: Triplex; Below-grade finished area (basement) present
• Construction: Brick construction
• Exterior features: Flat rubber roof; Other exterior features

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom; Unit 3: 3 bedrooms
• Flooring: Wood and hardwood floors
• Bathrooms: Four full bathrooms (located in basement, 1st floor, and two on 2nd floor total)
• Heating & cooling: Baseboard heating (natural gas); Central cooling (other)
• Interior features: Finished full basement; Wood / Hardwood flooring; One fireplace
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×3bd/2.0ba units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $792 ($10k/yr) — positive. Per door: $264/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• Cap rate 8.7% vs local median 5.7% in Albany — 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 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Giffen Memorial Elementary School (math 17% / reading 22%, grade F, #1,992 of 2,108 statewide, top 95%, 404 students, 93% FRL); Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools average 81% FRL vs 66% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.9%/yr); 70 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,823/mo this rent would consume 104% of the median local household income ($56k/yr) (locally 1211% 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 $12k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $112k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 25y 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 $210k; list at $399k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $399,000

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 1870 — 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: 1.21% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $322,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
285.5 Hudson Ave	0.04mi	4/4.0	2,478 (-8%)	5mo	$430,000	$174	81
208 Elm St	0.19mi	4/3.0	2,508 (-7%)	3mo	$420,000	$167	73
270 Morton Ave	0.58mi	5/4.0 (+1)	2,714 (+1%)	9mo	$477,000	$176	59
211 Clinton Ave	0.57mi	5/3.0 (+1)	2,640 (-2%)	4mo	$250,000	$95	58
184 Elm St	0.21mi	4/2.0	2,394 (-11%)	7mo	$375,000	$157	58
492 Madison Ave	0.30mi	3/2.5 (-1)	2,995 (+11%)	4mo	$360,000	$120	53
114 Lark St	0.51mi	5/3.0 (+1)	2,835 (+6%)	11mo	$260,000	$92	49
51 1/2 First St	0.67mi	4/3.5	2,975 (+11%)	5mo	$365,000	$123	44
79 1st St	0.65mi	5/3.0 (+1)	2,516 (-6%)	8mo	$275,000	$109	43
26 Trinity Pl	0.64mi	5/2.0 (+1)	2,508 (-7%)	11mo	$230,000	$92	36
8 Avondale Ter	0.65mi	4/2.0	2,296 (-15%)	2mo	$189,000	$82	35
425 Clinton Ave	0.74mi	5/4.5 (+1)	3,072 (+14%)	12mo	$280,000	$91	25

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 · 6.86% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $5,472
• Equity at exit: $59,492

10-year hold

• IRR: 14.6%
• Equity multiple: 2.41×
• Total profit: $157,116
• Equity at exit: $34,498

Cash invested: $111,720 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $4,823 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$760 /mo · $9,115/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,013
• Net cashflow: $792

Break-even live

Break-even rent $3,821

Max offer price $399,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,028
1× unit	3	2	$1,795
Total (3 units)			$4,823

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	43d	1	0.67mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	43d	1	0.97mi
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	43d	1	1.04mi
32 Peyster St Unit 1st floor Albany, NY	3.0	2.0	2714	$2,500	$0.92	43d	1	1.50mi

Listing history 5 events

1. 2026-06-16
   statusdays on market $399,000 Pending 5 DOM
2. 2026-06-15
   remarks 699-char remark
3. 2026-06-15
   days on market $399,000 Active 4 DOM
4. 2026-06-14
   remarks 692-char remark
5. 2026-06-14
   listed $399,000 Active 2 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: $9,115 · $760/mo
• Projected year-2 tax: $9,115 · $760/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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $57,876
• − Mortgage interest: −$22,350
• − Property taxes: −$9,115
• − Insurance: −$1,995
• − Repairs & maintenance: −$4,630
• − Management: −$4,630
• − Depreciation: −$11,607
• Taxable income: $3,548
• Est. tax owed @ 24.0%: −$852
• After-tax cash flow: $8,651/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: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

Amenities A+ Commute A+ Cost of living C+ 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: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 2%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+320.0% since first listed

7 events — show timeline

• 2026-06-11 Listed $399,000 Global MLS
• 2004-09-27 Sold (Public Records) $210,000 Public Records
• 2001-12-11 Sold (Public Records) $142,000 Public Records
• 2001-11-30 Sold (MLS) $138,500 Global MLS
• 2001-11-03 Listing Removed — Global MLS
• 2001-11-01 Listed $149,900 Global MLS
• 1999-03-30 Sold (Public Records) $95,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $9,115 · +0.1% YoY. Source: county tax records.