14 103rd St · Troy, NY 12180

$199,999

3 bd · 3.0 ba · 1,634 sqft · MultiFamily public records · 5 Days on market

Built 1890 2,178 sqft lot Est $225k · 11% 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 +12.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Schools +2.8/10.0
• 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

THREE UNIT rental property perfect for FTHB owner occupant looking to supplement their mortgage payment. Live in a large freshly updated BRIGHT AND SUNNY two floor unit, 2nd flr bdrm with walk-in closet. Gorgeous original wood staircase, brick fireplace, LG eat-in kitchen and LG bathroom with claw foot tub and enclosed front porch. Long term renters 1 bdrm 1000, studio 800. New roof, new electrical, new hot water tanks. SEPARATE UTILITIES. All on a quiet side street with other owner occupant single family homes. Lots of on street parking and across from a pretty historic house of worship.

Key facts

• Private deck
• Large eat in kitchen
• Fenced in yard

Tags

• FENCED IN YARD
• LARGE EAT IN KITCHEN
• PRIVATE DECK

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $746/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Cap rate 19.7% 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.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $4,873/mo this rent would consume 77% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,999

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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.44% ✓
• Cap rate: 19.72%
• Cash-on-cash: 47.96%
• DSCR: 3.13
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $225,492
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
278 3rd Ave	0.28mi	4/2.0 (+1)	1,628 (-0%)	17mo	$190,000	$117	63
179 8th Ave	0.20mi	4/2.0 (+1)	1,692 (+4%)	23mo	$255,000	$151	57
411 Fifth Ave	0.65mi	4/3.0 (+1)	1,751 (+7%)	4mo	$220,000	$126	49
98 Hudson Ave	0.71mi	4/2.0 (+1)	1,672 (+2%)	7mo	$230,000	$138	48
417 7th Ave	0.68mi	3/2.0	1,564 (-4%)	21mo	$111,000	$71	39
395 4th Ave	0.60mi	4/2.0 (+1)	1,440 (-12%)	22mo	$215,000	$149	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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 47.7%
• Equity multiple: 3.14×
• Total profit: $119,751
• Equity at exit: $29,821

10-year hold

• IRR: 54.2%
• Equity multiple: 6.87×
• Total profit: $328,752
• Equity at exit: $17,292

Cash invested: $56,000 (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: 10.3×

Monthly cashflow live

• Estimated rent: $4,873 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$479 /mo · $5,751/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,023
• Net cashflow: $2,238

Break-even live

Break-even rent $2,040

Max offer price $199,999

Occupancy floor 49%

Sensitivity live

Price	-10% $2,351	-5% $2,295	+0% $2,238	+5% $2,182	+10% $2,125
Rent	-10% $1,853	-5% $2,046	+0% $2,238	+5% $2,431	+10% $2,623
Rate	-1.0pp $2,339	-0.5pp $2,289	base $2,238	+0.5pp $2,186	+1.0pp $2,134

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$4,872
Total (3 units)			$4,873

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
157 6th Ave Unit 2 Troy, NY	3.0	1.0	1300	$1,350	$1.04	19d	1	0.10mi
140 5th Ave Unit 2 Troy, NY	3.0	1.0	1200	$1,395	$1.16	24d	1	0.11mi
131 6th Ave Troy, NY	4.0	1.0	1400	$2,325	$1.66	15d	1	0.15mi
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	21d	1	0.35mi
143 President St Unit 2 Troy, NY	4.0	1.0	1200	$1,900	$1.58	15d	1	0.59mi
362 9th St Unit 1st Floor Troy, NY	3.0	1.0	1156	$1,575	$1.36	24d	1	1.02mi
362 9th St Unit 1st Floor Troy, NY	3.0	1.0	1156	$1,575	$1.36	19d	1	1.02mi
338 Saratoga St Unit 2 Cohoes, NY	3.0	1.5	1200	$1,495	$1.25	44d	1	1.03mi
196 Main St Cohoes, NY	2.0	1.0	1200	$1,375	$1.15	24d	1	1.09mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	15d	1	1.13mi
12 Stoneledge Dr Apt 1 Troy, NY	2.0	2.0	1210	$2,000	$1.65	44d	1	1.18mi
129 Main St Cohoes, NY	2.0	1.0	1104	$1,350	$1.22	44d	1	1.21mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	15d	4	1.24mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	15d	13	1.31mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	19d	1	1.35mi
413 Diamond Rock Cir Troy, NY	2.0	2.0	1252	$2,100	$1.68	15d	1	1.35mi
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,345	$1.12	24d	1	1.35mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	19d	1	1.36mi
159 Hoosick St Unit 1R Troy, NY	2.0	1.0	1050	$795	$0.76	19d	1	1.38mi
195 9th St Troy, NY	3.0	2.0	1500	$750	$0.50	19d	1	1.42mi
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$2,294	$2.66	15d	7	1.48mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	15d	1	1.48mi
124 Columbia St Fl 2 Cohoes, NY	2.0	1.0	1200	$1,400	$1.17	15d	1	1.49mi

Listing history 23 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   listed $199,999 Active
3. 2024-03-01
   soldstatus $180,000
4. 2024-02-29
   soldstatus $180,000 Closed 595-char remark

   Show marketing remark (595 chars)

   THREE UNIT rental property perfect for FTHB owner occupant looking to supplement their mortgage payment. Live in a large freshly updated BRIGHT AND SUNNY two floor unit, 2nd flr bdrm with walk-in closet. Gorgeous original wood staircase, brick fireplace, LG eat-in kitchen and LG bathroom with claw foot tub and enclosed front porch. Long term renters 1 bdrm 1000, studio 800. New roof, new electrical, new hot water tanks. SEPARATE UTILITIES. All on a quiet side street with other owner occupant single family homes. Lots of on street parking and across from a pretty historic house of worship.

5. 2024-01-12
   status Pending 595-char remark

   Show marketing remark (595 chars)

   THREE UNIT rental property perfect for FTHB owner occupant looking to supplement their mortgage payment. Live in a large freshly updated BRIGHT AND SUNNY two floor unit, 2nd flr bdrm with walk-in closet. Gorgeous original wood staircase, brick fireplace, LG eat-in kitchen and LG bathroom with claw foot tub and enclosed front porch. Long term renters 1 bdrm 1000, studio 800. New roof, new electrical, new hot water tanks. SEPARATE UTILITIES. All on a quiet side street with other owner occupant single family homes. Lots of on street parking and across from a pretty historic house of worship.

6. 2023-12-27
   listed $179,000 Active 595-char remark

   Show marketing remark (595 chars)

   THREE UNIT rental property perfect for FTHB owner occupant looking to supplement their mortgage payment. Live in a large freshly updated BRIGHT AND SUNNY two floor unit, 2nd flr bdrm with walk-in closet. Gorgeous original wood staircase, brick fireplace, LG eat-in kitchen and LG bathroom with claw foot tub and enclosed front porch. Long term renters 1 bdrm 1000, studio 800. New roof, new electrical, new hot water tanks. SEPARATE UTILITIES. All on a quiet side street with other owner occupant single family homes. Lots of on street parking and across from a pretty historic house of worship.

7. 2023-11-29
   soldstatus $105,000
8. 2023-11-03
   soldstatus $105,000 Closed 153-char remark

   Show marketing remark (153 chars)

   Nice investment property 3 units all rented and new roof and froint porch ceiling replaced. great investment property close to bus route and local areas.

9. 2023-09-25
   listed $142,000 Active 153-char remark

   Show marketing remark (153 chars)

   Nice investment property 3 units all rented and new roof and froint porch ceiling replaced. great investment property close to bus route and local areas.

10. 2023-04-25
    historical
11. 2023-04-25
    price $142,000
12. 2023-02-20
    price $140,000
13. 2022-12-26
    listed $159,000 Active
14. 2017-07-26
    soldstatus $76,000
15. 2017-07-14
    soldstatus $76,000 Closed (Final Sale)
16. 2017-06-12
    status Pend (Under Cntr)
17. 2017-05-16
    price $84,777
18. 2017-04-17
    listed $89,777 New
19. 2004-03-09
    soldstatus $47,000
20. 2004-02-27
    soldstatus $45,000
21. 2003-11-21
    historical
22. 2003-09-30
    listed $49,900
23. 1996-07-15
    soldstatus $41,000

ⓘ 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: $5,751 · $479/mo
• Projected year-2 tax: $5,751 · $479/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 6/10 Major FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $58,476
• − Mortgage interest: −$11,203
• − Property taxes: −$5,751
• − Insurance: −$1,000
• − Repairs & maintenance: −$4,678
• − Management: −$4,678
• − Depreciation: −$5,818
• Taxable income: $25,347
• Est. tax owed @ 24.0%: −$6,083
• After-tax cash flow: $20,776/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 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

+387.8% since first listed

23 events — show timeline

• 2026-04-28 Pending — Global MLS
• 2026-04-22 Listed $199,999 Global MLS
• 2024-03-01 Sold (Public Records) $180,000 Public Records
• 2024-02-29 Sold (MLS) $180,000 Global MLS
• 2024-01-12 Pending — Global MLS
• 2023-12-27 Listed $179,000 Global MLS
• 2023-11-29 Sold (Public Records) $105,000 Public Records
• 2023-11-03 Sold (MLS) $105,000 Global MLS
• 2023-09-25 Listed $142,000 Global MLS
• 2023-04-25 Price Changed $142,000 Global MLS
• 2023-04-25 Listing Removed — Global MLS
• 2023-02-20 Price Changed $140,000 Global MLS
• 2022-12-26 Listed $159,000 Global MLS
• 2017-07-26 Sold (Public Records) $76,000 Public Records
• 2017-07-14 Sold (MLS) $76,000 Global MLS
• 2017-06-12 Pending — Global MLS
• 2017-05-16 Price Changed $84,777 Global MLS
• 2017-04-17 Listed $89,777 Global MLS
• 2004-03-09 Sold (Public Records) $47,000 Public Records
• 2004-02-27 Sold (MLS) $45,000 Global MLS
• 2003-11-21 Listing Removed — Global MLS
• 2003-09-30 Listed $49,900 Global MLS
• 1996-07-15 Sold (Public Records) $41,000 Public Records

Property tax history

+13.8%/yr

Latest (2025): $5,751 · +46.5% YoY. Source: county tax records.