28 Grant Ave · Albany, NY 12206

$209,000

3 bd · 1.5 ba · 1,284 sqft · SingleFamily public records · 17 Days on market

Built 1915 2,613 sqft lot Est $261k · 20% 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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely renovated 3-4 bedroom home close to everything! Fenced backyard, brand new appliances, new windows and roof! Home is handicap accessible and features a layout with the option for a first floor master and second bedroom or office! Two full baths. This home is priced to sell! Excellent Condition

Key facts

• Flexible layout
• Fenced backyard
• 2,613 sq ft lot

Tags

• FENCED BACKYARD
• FLEXIBLE LAYOUT

Property features AI

Exterior

• Utilities: Public sewer; Public water; Cable available
• Home design: Single family residence; Updated / remodeled; Brick/mortar foundation; Clapboard construction
• Construction: Rubber roof; Asphalt roof
• Exterior features: Deck; Enclosed porch; Front porch; Garden; Shed(s); Back yard fence

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Bedroom on the first floor; Bedroom on the second floor; Bedroom on the second floor; Bedroom on the second floor; Additional bedroom on the second floor
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms; One full bathroom on the first floor; One full bathroom on the second floor
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: High speed internet available; Paddle ceiling fan
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (3.5% below list).
• Recommended offer: $202k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 fast (+5.4%/yr); 89 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,018/mo this rent would consume 58% of the median local household income ($42k/yr) (locally 2035% 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 $1k of loan paydown is wiped out by about $6k 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 17 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $106k; list at $209k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,764 (3.5% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $260,652
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Lincoln Ave	0.28mi	3/1.5	1,341 (+4%)	4mo	$235,000	$175	76
866 Washington Ave	0.43mi	3/1.5	1,282 (-0%)	6mo	$235,000	$183	75
13 Cleveland St	0.35mi	3/1.0	1,232 (-4%)	2mo	$262,000	$213	73
22 Danker Ave	0.52mi	3/1.5	1,338 (+4%)	5mo	$315,000	$235	64
184 Benson St	0.52mi	3/1.5	1,346 (+5%)	6mo	$265,000	$197	63
31 Corning St	0.52mi	3/1.0	1,228 (-4%)	6mo	$200,000	$163	62
81 Hawthorne Ave	0.70mi	3/1.5	1,295 (+1%)	7mo	$324,900	$251	60
125 Benson St	0.62mi	3/1.5	1,423 (+11%)	1mo	$250,000	$176	52
131 Homestead Ave	0.61mi	3/1.0	1,183 (-8%)	8mo	$240,000	$203	50
21 Lincoln Ave	0.29mi	4/1.0 (+1)	1,464 (+14%)	8mo	$185,000	$126	50
27 Croswell St	0.54mi	2/1.0 (-1)	1,152 (-10%)	2mo	$305,000	$265	49
92 Homestead Ave	0.75mi	3/2.5	1,396 (+9%)	5mo	$318,000	$228	42

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.67×
• Total profit: $-19,414
• Equity at exit: $31,163

10-year hold

• IRR: 3.6%
• Equity multiple: 1.28×
• Total profit: $16,665
• Equity at exit: $18,071

Cash invested: $58,520 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,018 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$262 /mo · $3,141/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $149

Break-even live

Break-even rent $1,829

Max offer price $209,000

Occupancy floor 88%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	14d	1	0.12mi
526 Central Ave Albany, NY	1.0–2.0	1.0	957	$1,435	$1.50	44d	1	0.45mi
32 Richmond St Unit 2 Albany, NY	3.0	3.0	1248	$2,500	$2.00	14d	1	0.54mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	44d	1	0.55mi
898 Lancaster St Unit 2 Albany, NY	2.0	1.0	1200	$1,700	$1.42	23d	1	0.58mi
530 3rd St Apt 2 Albany, NY	2.0	1.0	900	$1,400	$1.56	44d	1	0.66mi
260 Bradford St Unit 205 Albany, NY	3.0	2.0	912	$1,700	$1.86	23d	1	0.74mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	44d	1	0.78mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	44d	1	0.89mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	23d	1	0.94mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	23d	1	0.94mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	14d	1	0.96mi
517 Hamilton St Albany, NY	4.0	1.0	1020	$2,000	$1.96	23d	1	0.97mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	14d	1	0.98mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	23d	1	1.01mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	1.04mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	44d	1	1.08mi
460 Washington Ave Albany, NY	2.0	1.0	950	$1,650	$1.74	23d	1	1.09mi
180 Western Ave Unit 1st Floor Albany, NY	2.0	1.0	900	$1,550	$1.72	44d	1	1.10mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	14d	1	1.10mi
180 Western Ave Unit 2nd Floor Albany, NY	2.0	1.0	1000	$1,575	$1.57	44d	1	1.10mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	23d	1	1.10mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	1.13mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	21d	1	1.14mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	1.14mi
255 Patroon Creek Blvd Albany, NY	1.0–3.0	1.0–2.0	1080	$2,559	$2.37	14d	22	1.15mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	1.15mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	44d	1	1.17mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	44d	1	1.18mi
830 Western Ave Albany, NY	4.0	2.5	1600	$2,700	$1.69	14d	1	1.22mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	1.23mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	44d	1	1.29mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	23d	1	1.42mi
35 Parkwood St Albany, NY	2.0	1.0	900	$1,495	$1.66	23d	1	1.43mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	1.45mi
9 Circle Ln Albany, NY	2.0	1.0	771	$1,805	$2.34	14d	1	1.46mi
11 Brayton St Albany, NY	3.0	1.5	1414	$1,950	$1.38	21d	1	1.48mi

Listing history 11 events

1. 2026-06-18
   days on market $209,000 Active 17 DOM
2. 2026-06-17
   days on market $209,000 Active 16 DOM
3. 2026-06-16
   days on market $209,000 Active 15 DOM
4. 2026-06-15
   days on market $209,000 Active 14 DOM
5. 2026-06-14
   days on market $209,000 Active 12 DOM
6. 2026-06-10
   days on market $209,000 Active 9 DOM
7. 2026-06-08
   days on market $209,000 Active 7 DOM
8. 2026-06-07
   days on market $209,000 Active 6 DOM
9. 2026-06-03
   days on market $209,000 Active 2 DOM
10. 2026-06-02
    remarks 383-char remark
11. 2026-06-02
    listed $209,000 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: $3,141 · $262/mo
• Projected year-2 tax: $3,336 · $278/mo
• Expected delta: +$196/yr (+$16/mo · 6.2%)

ⓘ 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 ≥97°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: $24,212
• − Mortgage interest: −$11,707
• − Property taxes: −$3,141
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,937
• − Management: −$1,937
• − Depreciation: −$6,080
• Taxable loss: −$1,635
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $2,182/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+533.3% since first listed

24 events — show timeline

• 2026-06-01 Listed $209,000 Global MLS
• 2018-02-08 Sold (MLS) $106,000 Global MLS
• 2017-12-12 Pending — Global MLS
• 2017-10-21 Price Changed $109,000 Global MLS
• 2017-10-10 Price Changed $119,900 Global MLS
• 2017-09-19 Listed $134,900 Global MLS
• 2017-09-18 Listing Removed — Global MLS
• 2017-09-07 Listed $134,900 Global MLS
• 2017-09-07 Listing Removed — Global MLS
• 2017-08-18 Price Changed $135,000 Global MLS
• 2017-07-28 Listed $149,900 Global MLS
• 2017-03-28 Sold (MLS) $38,200 Global MLS
• 2017-02-22 Pending — Global MLS
• 2017-02-01 Listed $32,900 Global MLS
• 2013-06-20 Listing Removed — Global MLS
• 2013-05-01 Listed $69,900 Global MLS
• 2011-06-23 Listing Removed — Global MLS
• 2011-01-06 Listed $79,900 Global MLS
• 2010-09-22 Listing Removed — Global MLS
• 2010-06-28 Listed $110,000 Global MLS
• 2006-06-16 Sold (MLS) $50,000 Global MLS
• 2006-04-24 Listing Removed — Global MLS
• 2006-03-02 Listed $64,500 Global MLS
• 2005-08-04 Sold (Public Records) $33,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $3,141 · +3.0% YoY. Source: county tax records.