240 4th St · Troy, NY 12180

$240,000

6 bd · 2.0 ba · 3,036 sqft · MultiFamily public records · 9 Days on market

Built 1910 3,049 sqft lot Est $294k · 19% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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

Bid deadline Monday 2/1 9am. Turn key 2 unit near colleges, downtown restaurants and shopping. This property has been fully renovated and is ready to go. Perfect as an investment property or owner occupied. Large units featuring 3BR/1BA & separate utilities. Full basement w/laundry hook up. Off street parking possible. Endless possibilities with the double lot (add a garage, more parking, or another building (buyer would need to confirm zoning requirements). Excellent Condition

Key facts

• Separate utilities
• Updated kitchens
• Two-family property

Tags

• TWO-FAMILY PROPERTY
• PROVEN RENTAL HISTORY
• UPDATED KITCHENS
• ABUNDANT NATURAL LIGHT
• SEPARATE UTILITIES
• BASEMENT LAUNDRY

Property features AI

Finance

• Other: Property is a 2-unit multi-family building; Total units: 2; Lot size approximately 0.07 acres (about 3,049 sq ft)
• Financial info: (No investor or income/expense details provided)
• HOA & community: (No HOA details provided)

Exterior

• Parking: (No parking details provided)
• Security: (No security details provided)
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable available
• Home design: Duplex; Living area listed as 2,024; Lot dimensions approximately 25 x 130
• Construction: Brick construction; Asphalt roof
• Exterior features: Front porch; Level lot

Interior

• Kitchen: (No kitchen appliance details provided)
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Flooring: (No flooring details provided)
• Bathrooms: 2 full bathrooms total (one full bath on the 1st level and one full bath on the 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Hot water heating; Space heater; Natural gas heating
• Interior features: Full basement
• Laundry & utility: Laundry located in the basement; Tenants pay electricity and gas

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $679/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Cap rate 13.1% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $3,780/mo this rent would consume 60% of the median local household income ($76k/yr) (locally 2698% 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 $7k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $67k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 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 $130k; list at $240k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000

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 1910 — 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: 1.57% ✓
• Cap rate: 13.08%
• Cash-on-cash: 24.24%
• DSCR: 2.08
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $294,492
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1250 5th Ave	0.07mi	7/2.0 (+1)	2,870 (-6%)	13mo	$179,000	$62	72
327 4th St	0.22mi	5/2.0 (-1)	2,720 (-10%)	4mo	$215,000	$79	63
140 3rd St	0.21mi	5/4.5 (-1)	2,892 (-5%)	8mo	$400,000	$138	61
153 2nd St	0.18mi	5/2.0 (-1)	2,640 (-13%)	7mo	$350,000	$133	59
78 Hill St	0.11mi	7/4.0 (+1)	3,474 (+14%)	6mo	$449,000	$129	53
1624 3rd Ave	0.71mi	5/3.0 (-1)	2,957 (-3%)	2mo	$330,000	$112	52
335 4th St	0.24mi	6/2.0	2,624 (-14%)	18mo	$180,000	$69	51
96 Hanover St	0.59mi	6/3.0	2,768 (-9%)	4mo	$160,000	$58	50
362 3rd St	0.44mi	6/2.0	2,666 (-12%)	16mo	$173,000	$65	46
204 13th St	0.69mi	6/3.0	2,794 (-8%)	8mo	$289,900	$104	44
325 1st St	0.50mi	5/2.0 (-1)	2,726 (-10%)	14mo	$240,000	$88	43
311 16th St	0.73mi	5/3.0 (-1)	3,172 (+4%)	16mo	$306,500	$97	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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.82×
• Total profit: $54,901
• Equity at exit: $35,785

10-year hold

• IRR: 29.2%
• Equity multiple: 3.83×
• Total profit: $190,366
• Equity at exit: $20,751

Cash invested: $67,200 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,780 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$270 /mo · $3,240/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $1,358

Break-even live

Break-even rent $2,061

Max offer price $240,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,780
Total (2 units)			$3,780

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-02
   status $240,000 Pending 9 DOM
2. 2026-06-01
   days on market $240,000 Active 9 DOM
3. 2026-05-31
   days on market $240,000 Active 8 DOM
4. 2026-05-31
   days on market $240,000 Active 7 DOM
5. 2026-05-22
   listed $240,000 Active
6. 2025-02-13
   historical $1,275
7. 2025-01-12
   listed $1,275
8. 2022-07-09
   price $1,200
9. 2021-08-12
   soldstatus $129,503
10. 2021-04-22
    soldstatus $150,000
11. 2021-03-04
    soldstatus $150,000 Closed (Final Sale) 486-char remark

    Show marketing remark (486 chars)

    Bid deadline Monday 2/1 9am. Turn key 2 unit near colleges, downtown restaurants and shopping. This property has been fully renovated and is ready to go. Perfect as an investment property or owner occupied. Large units featuring 3BR/1BA & separate utilities. Full basement w/laundry hook up. Off street parking possible. Endless possibilities with the double lot (add a garage, more parking, or another building (buyer would need to confirm zoning requirements). Excellent Condition

12. 2021-02-01
    status Pend (Under Cntr) 486-char remark

    Show marketing remark (486 chars)

    Bid deadline Monday 2/1 9am. Turn key 2 unit near colleges, downtown restaurants and shopping. This property has been fully renovated and is ready to go. Perfect as an investment property or owner occupied. Large units featuring 3BR/1BA & separate utilities. Full basement w/laundry hook up. Off street parking possible. Endless possibilities with the double lot (add a garage, more parking, or another building (buyer would need to confirm zoning requirements). Excellent Condition

13. 2021-01-29
    listed $137,000 New 486-char remark

    Show marketing remark (486 chars)

    Bid deadline Monday 2/1 9am. Turn key 2 unit near colleges, downtown restaurants and shopping. This property has been fully renovated and is ready to go. Perfect as an investment property or owner occupied. Large units featuring 3BR/1BA & separate utilities. Full basement w/laundry hook up. Off street parking possible. Endless possibilities with the double lot (add a garage, more parking, or another building (buyer would need to confirm zoning requirements). Excellent Condition

14. 2020-03-09
    status Pend (Under Cntr)
15. 2020-03-09
    historical
16. 2020-01-21
    listed $99,900 New
17. 2017-12-05
    soldstatus $67,100
18. 2017-12-01
    soldstatus $67,100 Closed (Final Sale)
19. 2017-11-06
    status Pend (Under Cntr)
20. 2017-11-02
    status Active
21. 2017-10-17
    status Pend (Under Cntr)
22. 2017-10-10
    listed $67,000 New
23. 2016-03-25
    status Pend (Under Cntr)
24. 2016-03-25
    historical
25. 2016-03-15
    listed $65,000 New
26. 2006-05-02
    soldstatus $76,500
27. 2006-02-27
    historical
28. 2006-02-06
    listed $79,900
29. 2003-06-09
    soldstatus $22,000

ⓘ 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: $3,240 · $270/mo
• Projected year-2 tax: $3,648 · $304/mo
• Expected delta: +$408/yr (+$34/mo · 12.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,360
• − Mortgage interest: −$13,444
• − Property taxes: −$3,240
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,629
• − Management: −$3,629
• − Depreciation: −$6,982
• Taxable income: $13,237
• Est. tax owed @ 24.0%: −$3,177
• After-tax cash flow: $13,115/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+990.9% since first listed

25 events — show timeline

• 2026-05-22 Listed $240,000 Global MLS
• 2025-02-13 Rental Removed $1,275 TURBOTENANT
• 2025-01-12 Listed for Rent $1,275 TURBOTENANT
• 2022-07-09 Price Changed $1,200 RENT.
• 2021-08-12 Sold (Public Records) $129,503 Public Records
• 2021-04-22 Sold (Public Records) $150,000 Public Records
• 2021-03-04 Sold (MLS) $150,000 Global MLS
• 2021-02-01 Pending — Global MLS
• 2021-01-29 Listed $137,000 Global MLS
• 2020-03-09 Pending — Global MLS
• 2020-03-09 Listing Removed — Global MLS
• 2020-01-21 Listed $99,900 Global MLS
• 2017-12-05 Sold (Public Records) $67,100 Public Records
• 2017-12-01 Sold (MLS) $67,100 Global MLS
• 2017-11-06 Pending — Global MLS
• 2017-11-02 Relisted — Global MLS
• 2017-10-17 Pending — Global MLS
• 2017-10-10 Listed $67,000 Global MLS
• 2016-03-25 Pending — Global MLS
• 2016-03-25 Listing Removed — Global MLS
• 2016-03-15 Listed $65,000 Global MLS
• 2006-05-02 Sold (MLS) $76,500 Global MLS
• 2006-02-27 Listing Removed — Global MLS
• 2006-02-06 Listed $79,900 Global MLS
• 2003-06-09 Sold (Public Records) $22,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $3,240 · -22.1% YoY. Source: county tax records.