64 Elm St · Albany, NY 12203

$529,900

4 bd · 2.0 ba · 3,680 sqft · MultiFamily public records · 28 Days on market

Built 1858 1,742 sqft lot $144/sqft · at area comps Est $545k · at est.

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Why this score? — see what drove the D+ 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 +18.1/30.0
• ARV discount +8.8/15.0
• DSCR +5.7/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• 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

Dramatic Italianate Historic & Modern Townhouse. Elegant Mill-Brook kitchen w/ Jenn-Air. Vaulted Ceilings, Sky Light, Exposed Beams & Brick, Wood Burning FP, Hdwd, "Mexican" Bath. Large Whirlpool, Sauna. Beautiful Perennial Garden & Patio. First Fl Gorgeous Ikea Contemporary kitchen Apt.$950. Garden In- Law Apt. Owner pays HT & HW. Views of E.S. Plaza. Perfectly Maintained. Laundry hookups in Each Unit -- Excellent Condition

Key facts

• Private patio
• Updated kitchen
• Serene backyard

Tags

• SEPARATE LAUNDRY HOOKUPS
• FIREPROOFED BASEMENT UNIT
• PRIVATE PATIO
• SERENE BACKYARD
• MATURE TREES
• UPDATED KITCHEN

Property features AI

Finance

• Financial info: 3 total residential units; Maintenance expense listed as $250; Tenants pay hot water, internet, and cable TV; Owner pays sewer, water, electricity, and heat

Exterior

• Utilities: Public water; Public sewer
• Home design: Triplex; Updated / remodeled; Below-grade finished area (basement apartment)
• Construction: Brick construction; Rubber roof
• Exterior features: Level lot

Interior

• Kitchen: Unit 1: kitchen in basement; Unit 2: kitchen on 1st floor; Unit 3: kitchen on 2nd floor
• Bedrooms: Unit 1: 1 bedroom (basement level); Unit 2: 2 bedrooms (1st floor); Unit 3: 3 bedrooms (2nd and 3rd floors; 1 on 2nd, 2 on 3rd)
• Flooring: Wood flooring; Carpet; Ceramic tile
• Bathrooms: 3 full bathrooms (located on basement, 1st, and 3rd floors); 1 half bathroom (2nd floor)
• Heating & cooling: Baseboard and hot water heating; Window air conditioning units
• Interior features: Solid surface counters; Paddle fan(s); High-speed internet available; Sauna; Built-in features; Ceramic tile baths; Crown molding; Skylight(s); Living room fireplace
• Laundry & utility: Washer hookup; Laundry access on main level, upper level, and in basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.2-bath units multifamily listed at $530k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive. Per door: $154/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $507k (4.3% below list).
• Recommended offer: $507k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 5.7% in Albany — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.9%/yr); 124 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,073/mo this rent would consume 73% of the median local household income ($83k/yr) (locally 1704% 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 $4k of loan paydown is wiped out by about $16k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($522k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 $316k; list at $530k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1858 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $507,300 (4.3% 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 1858 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.73%
• DSCR: 1.17
• GRM: 8.7

CMA / ARV

• ARV (median comp): $545,129
• List price: $529,900
• Delta: -2.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Park Ave	0.14mi	4/3.5	3,300 (-10%)	1mo	$345,000	$105	69
66 Elm St	0.00mi	4/3.5	4,048 (+10%)	16mo	$525,000	$130	64
335 Madison Ave	0.35mi	4/3.5	3,372 (-8%)	3mo	$240,000	$71	61
111 Grand St	0.15mi	3/3.0 (-1)	3,168 (-14%)	15mo	$275,000	$87	49
348 Madison Ave	0.38mi	3/3.0 (-1)	3,320 (-10%)	20mo	$305,000	$92	41
150 Morton Ave	0.34mi	4/4.0	3,240 (-12%)	20mo	$351,000	$108	40
15 Delaware St	0.39mi	3/3.0 (-1)	3,180 (-14%)	18mo	$390,000	$123	35

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-62,291
• Equity at exit: $79,010

10-year hold

• IRR: -4.3%
• Equity multiple: 0.73×
• Total profit: $-39,665
• Equity at exit: $45,816

Cash invested: $148,372 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 124
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $5,073 high
• Mortgage (P&I): −$2,779
• Tax from tax record: −$547 /mo · $6,562/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,065
• Net cashflow: $461

Break-even live

Break-even rent $4,489

Max offer price $529,900

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.2	$5,073
Total (3 units)			$5,073

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: $132,475
• Closing costs: $15,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	44d	1	1.49mi

Listing history 13 events

1. 2026-04-29
   listed $529,900 Active 902-char remark
2. 2017-07-18
   listed $319,000 New 454-char remark

   Show marketing remark (454 chars)

   Dramatic Italianate Historic & Modern Townhouse. Elegant Mill-Brook kitchen w/ Jenn-Air. Vaulted Ceilings, Sky Light, Exposed Beams & Brick, Wood Burning FP, Hdwd, "Mexican" Bath. Large Whirlpool, Sauna. Beautiful Perennial Garden & Patio. First Fl Gorgeous Ikea Contemporary kitchen Apt.$950. Garden In- Law Apt. Owner pays HT & HW. Views of E.S. Plaza. Perfectly Maintained. Laundry hookups in Each Unit -- Excellent Condition

3. 2017-07-18
   soldstatus $316,000

   Show marketing remark (454 chars)

   Dramatic Italianate Historic & Modern Townhouse. Elegant Mill-Brook kitchen w/ Jenn-Air. Vaulted Ceilings, Sky Light, Exposed Beams & Brick, Wood Burning FP, Hdwd, "Mexican" Bath. Large Whirlpool, Sauna. Beautiful Perennial Garden & Patio. First Fl Gorgeous Ikea Contemporary kitchen Apt.$950. Garden In- Law Apt. Owner pays HT & HW. Views of E.S. Plaza. Perfectly Maintained. Laundry hookups in Each Unit -- Excellent Condition

4. 2017-07-14
   soldstatus $316,000 Closed (Final Sale) 454-char remark

   Show marketing remark (454 chars)

   Dramatic Italianate Historic & Modern Townhouse. Elegant Mill-Brook kitchen w/ Jenn-Air. Vaulted Ceilings, Sky Light, Exposed Beams & Brick, Wood Burning FP, Hdwd, "Mexican" Bath. Large Whirlpool, Sauna. Beautiful Perennial Garden & Patio. First Fl Gorgeous Ikea Contemporary kitchen Apt.$950. Garden In- Law Apt. Owner pays HT & HW. Views of E.S. Plaza. Perfectly Maintained. Laundry hookups in Each Unit -- Excellent Condition

5. 2005-05-20
   soldstatus $266,500
6. 2005-05-06
   soldstatus $266,500

   Show marketing remark (330 chars)

   Dramatic Italianate Historic & Modern Townhouse. Elegant Millbrook kitchen w/ Jenn-Air. Exposed Beams, Brick, Wood-Burning FP. Hdwd. "Mexican" bath. Large whirlpool, sauna. Spectacular garden-pond/waterfall. Elegant apt $650 includes HT & HW. View of E.S. Plaza. Addtl unfinished garden unit. Excellent Condition

7. 2005-04-12
   historical

   Show marketing remark (330 chars)

   Dramatic Italianate Historic & Modern Townhouse. Elegant Millbrook kitchen w/ Jenn-Air. Exposed Beams, Brick, Wood-Burning FP. Hdwd. "Mexican" bath. Large whirlpool, sauna. Spectacular garden-pond/waterfall. Elegant apt $650 includes HT & HW. View of E.S. Plaza. Addtl unfinished garden unit. Excellent Condition

8. 2005-04-05
   listed $249,900

   Show marketing remark (330 chars)

   Dramatic Italianate Historic & Modern Townhouse. Elegant Millbrook kitchen w/ Jenn-Air. Exposed Beams, Brick, Wood-Burning FP. Hdwd. "Mexican" bath. Large whirlpool, sauna. Spectacular garden-pond/waterfall. Elegant apt $650 includes HT & HW. View of E.S. Plaza. Addtl unfinished garden unit. Excellent Condition

9. 2002-02-11
   soldstatus $126,000
10. 1999-08-23
    soldstatus $119,000
11. 1999-08-18
    soldstatus $119,000
12. 1999-05-05
    historical
13. 1999-04-14
    listed $129,000

ⓘ 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: $6,562 · $547/mo
• Projected year-2 tax: $7,759 · $647/mo
• Expected delta: +$1,197/yr (+$100/mo · 18.2%)

ⓘ 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 ≥98°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: $60,876
• − Mortgage interest: −$29,683
• − Property taxes: −$6,562
• − Insurance: −$2,650
• − Repairs & maintenance: −$4,870
• − Management: −$4,870
• − Depreciation: −$15,415
• Taxable loss: −$3,173
• Est. tax savings @ 24.0%: +$762
• After-tax cash flow: $6,296/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): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 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: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• 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

+310.8% since first listed

14 events — show timeline

• 2026-05-27 Pending — Global MLS
• 2026-04-29 Listed $529,900 Global MLS
• 2017-07-18 Listed $319,000 Global MLS
• 2017-07-18 Sold (Public Records) $316,000 Public Records
• 2017-07-14 Sold (MLS) $316,000 Global MLS
• 2005-05-20 Sold (Public Records) $266,500 Public Records
• 2005-05-06 Sold (MLS) $266,500 Global MLS
• 2005-04-12 Listing Removed — Global MLS
• 2005-04-05 Listed $249,900 Global MLS
• 2002-02-11 Sold (Public Records) $126,000 Public Records
• 1999-08-23 Sold (Public Records) $119,000 Public Records
• 1999-08-18 Sold (MLS) $119,000 Global MLS
• 1999-05-05 Listing Removed — Global MLS
• 1999-04-14 Listed $129,000 Global MLS

Property tax history

+2.9%/yr

Latest (2025): $6,562 · -6.8% YoY. Source: county tax records.