59 Dana Ave · Albany, NY 12208

$295,000

6 bd · 2.0 ba · 2,552 sqft · MultiFamily public records · 9 Days on market

Built 1900 1,742 sqft lot $116/sqft · 47% below area Est $557k · 47% 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This well-maintained two-family property is a strong income-producing opportunity. Generating $4,521 per month with separate utilities, updated kitchens, and baths, this property offers excellent cash flow. Long-term Section 8 tenants are month-to-month, providing both stability and flexibility for investors. Centrally located just blocks from Albany Medical Center, St. Peter's Hospital, Albany Law School, and Albany College of Pharmacy

Key facts

• Separate utilities
• Updated baths
• Centrally located

Tags

• INCOME-PRODUCING OPPORTUNITY
• SEPARATE UTILITIES
• UPDATED KITCHENS
• UPDATED BATHS
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Two-unit property; Tenants are responsible for hot water, heat, internet, cable TV, DSL internet, electricity, and gas

Exterior

• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable available
• Home design: Duplex; Aluminum siding construction
• Construction: Rubber roof; Concrete perimeter foundation; Built with aluminum siding
• Exterior features: Back yard fencing; Level lot

Interior

• Bedrooms: Two 4-bedroom units (each unit has 4 bedrooms)
• Flooring: Tile flooring; Hardwood flooring
• Bathrooms: Two full bathrooms total (one full bath on the 1st level, one full bath on the 2nd level)
• Heating & cooling: Baseboard heating; Natural gas heating
• Interior features: Tile and hardwood flooring; Full basement

🏷️ Possibly a rental listed for sale. The $295,000 price doesn't fit this home's estimated sale value (~$556,561) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $517/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Cap rate 10.5% vs local median 5.7% in Albany — 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 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 (+5.0%/yr); 99 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,173/mo this rent would consume 71% of the median local household income ($70k/yr) (locally 1952% 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 $9k 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $83k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 27y 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 $55k; list at $295k implies a 440% 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 $295,000

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: 1.41% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.01%
• DSCR: 1.67
• GRM: 5.9

CMA / ARV

• ARV (median comp): $556,561
• List price: $295,000
• Delta: -47.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
459 Hudson Ave	0.68mi	6/2.0	2,584 (+1%)	3mo	$235,000	$91	64
189-B Quail St	0.69mi	6/2.0	2,512 (-2%)	3mo	$185,000	$74	63
278 Morton Ave	0.58mi	6/2.5	2,460 (-4%)	5mo	$195,000	$79	61
380-382 Morris St	0.55mi	6/2.0	2,344 (-8%)	3mo	$300,000	$128	58
113 S Lake Ave	0.48mi	5/4.5 (-1)	2,608 (+2%)	4mo	$525,000	$201	55
466 Hudson Ave	0.69mi	6/2.0	2,712 (+6%)	3mo	$235,000	$87	55
362 Clinton Ave	0.68mi	7/4.0 (+1)	2,490 (-2%)	2mo	$270,000	$108	50
561 Park Ave	0.56mi	7/4.5 (+1)	2,700 (+6%)	6mo	$487,000	$180	44
97 Lark St	0.68mi	6/3.0	2,214 (-13%)	4mo	$259,000	$117	38
391 Washington Ave	0.52mi	7/4.0 (+1)	2,217 (-13%)	5mo	$350,000	$158	37
538 Myrtle Ave	0.50mi	5/5.0 (-1)	2,216 (-13%)	2mo	$410,000	$185	36
163 Eagle St	0.74mi	6/4.0	2,904 (+14%)	4mo	$413,000	$142	31

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.33×
• Total profit: $26,982
• Equity at exit: $43,985

10-year hold

• IRR: 19.2%
• Equity multiple: 2.78×
• Total profit: $146,626
• Equity at exit: $25,506

Cash invested: $82,600 (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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 99
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $4,173 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$594 /mo · $7,123/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $1,033

Break-even live

Break-even rent $2,865

Max offer price $295,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$4,172
Total (2 units)			$4,173

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-11
   listed $295,000 Active 441-char remark
2. 2026-02-06
   status Pending
3. 2026-02-05
   historical
4. 2026-01-28
   listed $295,000 Active
5. 2008-11-30
   historical
6. 2008-07-30
   listed $129,900
7. 2005-06-03
   soldstatus $54,601
8. 2005-03-28
   historical
9. 2005-03-25
   soldstatus $94,000
10. 2005-03-18
    listed $36,000
11. 2000-12-19
    soldstatus $53,000
12. 2000-12-19
    soldstatus $69,900
13. 2000-12-15
    soldstatus $69,900
14. 2000-12-04
    historical
15. 2000-11-30
    listed $69,900
16. 2000-02-25
    soldstatus $58,800
17. 2000-02-22
    soldstatus $57,000
18. 1999-12-01
    historical
19. 1999-10-27
    listed $59,900

ⓘ 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: $7,123 · $594/mo
• Projected year-2 tax: $7,123 · $594/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $50,076
• − Mortgage interest: −$16,525
• − Property taxes: −$7,123
• − Insurance: −$1,475
• − Repairs & maintenance: −$4,006
• − Management: −$4,006
• − Depreciation: −$8,582
• Taxable income: $8,359
• Est. tax owed @ 24.0%: −$2,006
• After-tax cash flow: $10,391/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): 23,289
• Household income: $70,413
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1952.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 12% Asian 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Italian 3% Scotch-Irish 3%
• Foreign-born: 16% · Canada, China, Philippines
• Languages at home: 83% English-only · Other Indo-European 4% Other Asian/Pacific 3% French/Haitian/Cajun 2%

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: ▼ -120.46%
• Current HPI: 279.716
• Rent YoY: ▲ 5.05%
• 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

+392.5% since first listed

20 events — show timeline

• 2026-05-19 Pending — Global MLS
• 2026-05-11 Listed $295,000 Global MLS
• 2026-02-06 Pending — Global MLS
• 2026-02-05 Listing Removed — Global MLS
• 2026-01-28 Listed $295,000 Global MLS
• 2008-11-30 Listing Removed — Global MLS
• 2008-07-30 Listed $129,900 Global MLS
• 2005-06-03 Sold (MLS) $54,601 Global MLS
• 2005-03-28 Listing Removed — Global MLS
• 2005-03-25 Sold (Public Records) $94,000 Public Records
• 2005-03-18 Listed $36,000 Global MLS
• 2000-12-19 Sold (Public Records) $69,900 Public Records
• 2000-12-19 Sold (Public Records) $53,000 Public Records
• 2000-12-15 Sold (MLS) $69,900 Global MLS
• 2000-12-04 Listing Removed — Global MLS
• 2000-11-30 Listed $69,900 Global MLS
• 2000-02-25 Sold (Public Records) $58,800 Public Records
• 2000-02-22 Sold (MLS) $57,000 Global MLS
• 1999-12-01 Listing Removed — Global MLS
• 1999-10-27 Listed $59,900 Global MLS

Property tax history

+7.7%/yr

Latest (2025): $7,123 · +2.6% YoY. Source: county tax records.