1325 6th Ave · Schenectady, NY 12303

$215,000

5 bd · 2.0 ba · 1,752 sqft · MultiFamily public records · 14 Days on market

Built 1900 3,920 sqft lot $123/sqft · at area comps Est $212k · at est.

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +8.6/10.0
• ARV discount +6.9/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• 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

Looking for a solid investment or a smart way to live for free? This fully renovated 2-unit property is a fantastic find, and it already has one unit occupied to give you instant income from day one!The first-floor apartment is a comfortable 2-bedroom, 1-bath setup with a great kitchen and living room. Upstairs, you get an even larger 3-bedroom layout, which is perfect for moving into yourself or picking your own tenant. Outside, there is a great private backyard for relaxing, and the location couldn't be better. You are just minutes from the library, all the shops and restaurants downtown, and right around the corner from I-890 for an easy commute. Properties this clean and versatile don't

Key facts

• Great kitchen
• Fully renovated
• Private backyard

Tags

• FULLY RENOVATED
• PRIVATE BACKYARD
• GREAT KITCHEN
• GREAT LIVING ROOM
• LOCATION MINUTES FROM LIBRARY
• LOCATION NEAR I-890

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 10.0% vs local median 6.3% in Schenectady — 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 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: schools C-, employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 161 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• This rent runs 42% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $215k implies a 258% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $215,000

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 1900 — 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: 1.36% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.09%
• DSCR: 1.58
• GRM: 6.1

CMA / ARV

• ARV (median comp): $212,072
• List price: $215,000
• Delta: 13.12%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1237 4th Ave	0.15mi	6/2.0 (+1)	1,712 (-2%)	11mo	$275,000	$161	75
1108 Cutler St	0.18mi	4/2.0 (-1)	1,848 (+6%)	10mo	$278,000	$150	70
1417 3rd Ave	0.25mi	5/3.0	1,600 (-9%)	2mo	$175,000	$109	68
1267 Webster St	0.27mi	4/2.0 (-1)	1,685 (-4%)	10mo	$153,000	$91	68
1320 4th Ave	0.18mi	4/2.0 (-1)	1,564 (-11%)	4mo	$242,250	$155	66
1226 2nd Ave	0.33mi	4/2.0 (-1)	1,660 (-5%)	10mo	$115,000	$69	62
1414 Chrisler Ave	0.58mi	4/2.0 (-1)	1,820 (+4%)	1mo	$240,000	$132	61
602 Lansing St	0.45mi	4/2.0 (-1)	1,856 (+6%)	7mo	$176,000	$95	58
910 Pennsylvania Ave	0.62mi	6/3.0 (+1)	1,700 (-3%)	6mo	$325,000	$191	52
1218 9th Ave	0.31mi	4/2.0 (-1)	1,496 (-15%)	6mo	$192,000	$128	51
892 Maplewood Ave	0.38mi	4/2.0 (-1)	1,510 (-14%)	11mo	$200,000	$132	45
1435 Van Cortland St	0.66mi	4/2.0 (-1)	1,936 (+10%)	6mo	$215,000	$111	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $7,120
• Equity at exit: $32,057

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $60,643
• Equity at exit: $18,589

Cash invested: $60,200 (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 12303

• Active inventory: 161
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,928 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$440 /mo · $5,275/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $656

Break-even live

Break-even rent $2,097

Max offer price $215,000

Occupancy floor 73%

Sensitivity live

Price	-10% $778	-5% $717	+0% $656	+5% $596	+10% $535
Rent	-10% $425	-5% $541	+0% $656	+5% $772	+10% $888
Rate	-1.0pp $765	-0.5pp $711	base $656	+0.5pp $601	+1.0pp $544

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,928
Total (2 units)			$2,928

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1346 10th Ave Schenectady, NY	4.0	2.0	2350	$2,499	$1.06	15d	1	0.32mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	15d	9	1.18mi

Listing history 26 events

1. 2026-06-18
   status $215,000 Pending 14 DOM
2. 2026-06-17
   days on market $215,000 Active 14 DOM
3. 2026-06-16
   days on market $215,000 Active 13 DOM
4. 2026-06-15
   days on market $215,000 Active 12 DOM
5. 2026-06-14
   days on market $215,000 Active 10 DOM
6. 2026-06-13
   days on market $215,000 Active 9 DOM
7. 2026-06-10
   days on market $215,000 Active 7 DOM
8. 2026-06-09
   days on market $215,000 Active 6 DOM
9. 2026-06-08
   days on market $215,000 Active 5 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    pricestatusdays on marketlisting id $215,000 Active 4 DOM
12. 2026-05-10
    historical
13. 2025-11-10
    listed $239,888 Active
14. 2025-11-01
    historical
15. 2025-05-19
    price $239,888
16. 2025-05-05
    price $244,888
17. 2025-04-17
    listed $250,000 Active
18. 2024-10-18
    historical
19. 2024-09-12
    price $200,000
20. 2024-08-12
    listed $219,900 Active
21. 2020-02-01
    historical
22. 2019-07-24
    listed $95,000 New
23. 2019-07-03
    soldstatus $60,000
24. 2019-06-25
    soldstatus $60,000 Closed (Final Sale)
25. 2019-05-17
    status Pend (Under Cntr)
26. 2019-05-06
    listed $70,000 New

ⓘ 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: $5,275 · $440/mo
• Projected year-2 tax: $5,275 · $440/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $35,136
• − Mortgage interest: −$12,043
• − Property taxes: −$5,275
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,811
• − Management: −$2,811
• − Depreciation: −$6,255
• Taxable income: $4,866
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $6,710/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: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

Amenities B- Commute A+ Cost of living A Crime F Employment D+ Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.01%
• Current HPI: 280.3886
• Rent YoY: —
• 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

+242.7% since first listed

15 events — show timeline

• 2026-05-10 Listing Removed — Global MLS
• 2025-11-10 Listed $239,888 Global MLS
• 2025-11-01 Listing Removed — Global MLS
• 2025-05-19 Price Changed $239,888 Global MLS
• 2025-05-05 Price Changed $244,888 Global MLS
• 2025-04-17 Listed $250,000 Global MLS
• 2024-10-18 Listing Removed — Global MLS
• 2024-09-12 Price Changed $200,000 Global MLS
• 2024-08-12 Listed $219,900 Global MLS
• 2020-02-01 Listing Removed — Global MLS
• 2019-07-24 Listed $95,000 Global MLS
• 2019-07-03 Sold (Public Records) $60,000 Public Records
• 2019-06-25 Sold (MLS) $60,000 Global MLS
• 2019-05-17 Pending — Global MLS
• 2019-05-06 Listed $70,000 Global MLS

Property tax history

+1.7%/yr

Latest (2025): $5,275 · +3.7% YoY. Source: county tax records.