None · Troy, NY 12182

$249,500

4 bd · 2.0 ba · 1,460 sqft · MultiFamily · 101 Days on market

Built 1890 Average condition 3,049 sqft lot $171/sqft · 13% below area Est $286k · 13% 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 +21.4/30.0
• ARV discount +13.2/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.8/5.0
• Rent growth +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

Great investment property, or attractive owner-occupant opportunity. Live in one unit and rent the other. Units separately metered. Cozy two-family that pays for itself! Move-in ready. Each unit has two bedrooms, a full bath and an eat-in kitchen. 1st floor has laundry room; 2nd floor has laundry area. Paddle fans. Recessed lighting. Exterior is low maintenance vinyl siding, with asphalt shingle roof. Fully fenced back yard with large deck. Off-street parking for 3 cars (parking spots could be rented separately). Close to 787, pulic transportation, parks, stores, restaurants and downtown Troy. Deck and most of interior painted recently. New hot-water heater 2026. Shed sold as-is.

Key facts

• Large deck
• Vinyl-sided
• Laundry room

Tags

• EAT-IN KITCHEN
• LAUNDRY ROOM
• VINYL-SIDED
• ASPHALT SHINGLE ROOF
• FULLY FENCED BACK YARD
• LARGE DECK

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $250k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive. Per door: $158/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: 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.
• Zoned schools: Turnpike Elementary School (534 students, 61% FRL); Knickerbacker Middle School (math 15% / reading 35%, grade F, #601 of 729 statewide, top 82%, 471 students, 75% FRL); Lansingburgh Senior High School (math 92%, 638 students, 75% FRL) — zoned schools average 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,045 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (median comp): $285,540
• List price: $249,500
• Delta: -12.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
395 4th Ave	0.16mi	4/2.0	1,440 (-1%)	22mo	$215,000	$149	72
417 7th Ave	0.21mi	3/2.0 (-1)	1,564 (+7%)	21mo	$111,000	$71	56
278 3rd Ave	0.50mi	4/2.0	1,628 (+12%)	17mo	$190,000	$117	43
89 Heartt Ave	0.64mi	3/2.0 (-1)	1,584 (+8%)	14mo	$240,000	$152	40
660 2nd Ave	0.57mi	4/3.0	1,584 (+8%)	21mo	$217,500	$137	38
98 Hudson Ave	0.74mi	4/2.0	1,672 (+14%)	7mo	$230,000	$138	35
75 Ontario St	0.56mi	4/2.0	1,672 (+14%)	19mo	$230,000	$138	34

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-20,224
• Equity at exit: $37,201

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $8,614
• Equity at exit: $21,572

Cash invested: $69,860 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 76
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,653 high
• Mortgage (P&I): −$1,308
• Tax est. 1.5%: −$312 /mo · $3,742/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $316

Break-even live

Break-even rent $2,253

Max offer price $249,500

Occupancy floor 83%

Sensitivity live

Price	-10% $489	-5% $402	+0% $316	+5% $230	+10% $144
Rent	-10% $107	-5% $211	+0% $316	+5% $421	+10% $526
Rate	-1.0pp $442	-0.5pp $380	base $316	+0.5pp $251	+1.0pp $186

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,652
Total (2 units)			$2,653

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: $62,375
• Closing costs: $7,485
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
386 3rd Ave #1 Troy, NY	3.0	1.0	1024	$1,700	$1.66	16d	1	0.20mi
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	23d	1	0.46mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	16d	1	0.61mi
21 120th St Troy, NY	4.0	1.0	1200	$1,300	$1.08	23d	1	0.75mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,711	$1.44	16d	1	0.78mi
157 6th Ave Unit 2 Troy, NY	3.0	1.0	1300	$1,350	$1.04	21d	1	0.84mi
140 5th Ave Unit 2 Troy, NY	3.0	1.0	1200	$1,395	$1.16	25d	1	0.88mi
131 6th Ave Troy, NY	4.0	1.0	1400	$2,325	$1.66	16d	1	0.91mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	16d	4	1.10mi
338 Saratoga St Unit 2 Cohoes, NY	3.0	1.5	1200	$1,495	$1.25	46d	1	1.20mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	21d	1	1.21mi
159 Main St #2 Cohoes, NY	3.0	1.0	950	$1,295	$1.36	16d	1	1.22mi
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,345	$1.12	25d	1	1.26mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	16d	1	1.29mi
143 President St Unit 2 Troy, NY	4.0	1.0	1200	$1,900	$1.58	16d	1	1.38mi
3132-3134 6th Ave Troy, NY	3.0	1.0	950	$1,350	$1.42	16d	1	1.43mi
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$2,294	$2.66	16d	7	1.47mi

Listing history 17 events

1. 2026-06-22
   days on market $249,500 Active 101 DOM
2. 2026-06-18
   days on market $249,500 Active 98 DOM
3. 2026-06-17
   days on market $249,500 Active 97 DOM
4. 2026-06-16
   days on market $249,500 Active 96 DOM
5. 2026-06-15
   days on market $249,500 Active 95 DOM
6. 2026-06-14
   days on market $249,500 Active 93 DOM
7. 2026-06-10
   days on market $249,500 Active 90 DOM
8. 2026-06-09
   days on market $249,500 Active 89 DOM
9. 2026-06-08
   days on market $249,500 Active 88 DOM
10. 2026-06-07
    days on market $249,500 Active 87 DOM
11. 2026-06-05
    days on market $249,500 Active 84 DOM
12. 2026-06-03
    days on market $249,500 Active 83 DOM
13. 2026-06-02
    days on market $249,500 Active 82 DOM
14. 2026-06-01
    days on market $249,500 Active 81 DOM
15. 2026-05-31
    days on market $249,500 Active 80 DOM
16. 2026-05-31
    days on market $249,500 Active 79 DOM
17. 2026-03-12
    listed $249,500 Active 688-char remark

    Show marketing remark (688 chars)

    Great investment property, or attractive owner-occupant opportunity. Live in one unit and rent the other. Units separately metered. Cozy two-family that pays for itself! Move-in ready. Each unit has two bedrooms, a full bath and an eat-in kitchen. 1st floor has laundry room; 2nd floor has laundry area. Paddle fans. Recessed lighting. Exterior is low maintenance vinyl siding, with asphalt shingle roof. Fully fenced back yard with large deck. Off-street parking for 3 cars (parking spots could be rented separately). Close to 787, pulic transportation, parks, stores, restaurants and downtown Troy. Deck and most of interior painted recently. New hot-water heater 2026. Shed sold as-is.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $31,836
• − Mortgage interest: −$13,976
• − Property taxes: −$3,742
• − Insurance: −$1,914
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − Depreciation: −$7,258
• Taxable loss: −$148
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $3,829/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.

Condition & rehab AI · 11 photos

Average 55/100 Cosmetic rehab

This two-family home is move-in ready with recent updates to the exterior and interior. It requires some cosmetic updates to the kitchen and bathrooms to maximize its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen appliances — dated and worn
• Moderate kitchen flooring — dated and worn
• Moderate bathroom tile — dated and worn
• Minor interior paint — some wear

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets and appliances — Modern kitchen will attract more buyers/renters
• Both update bathroom tile — Fresh tile will improve the bathroom's appearance and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen appliances · dated and worn	Moderate	$3,000–15,000
kitchen flooring · dated and worn	Moderate	$3,000–15,000
bathroom tile · dated and worn	Moderate	$3,000–15,000
interior paint · some wear	Minor	$500–3,000
Total estimated repair cost · 5 items		$12,500–63,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets and appliances — Modern kitchen will attract more buyers/renters ↑
• Both update bathroom tile — Fresh tile will improve the bathroom's appearance and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• City population: 53,479
• Population (ZIP): 14,273

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 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

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: ▼ -50.58%
• Current HPI: 273.5758
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-03-12 Listed $249,500 Global MLS