5 Cypress St · Troy, NY 12180

$735,000

8 bd · 3.0 ba · 5,412 sqft · MultiFamily public records · 6 Days on market

Built 1890 Good condition 3,049 sqft lot

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Attention Investors: Beautiful Fully updated 4 Unit Building walking distance to RPI. Fully Furnished, New Plumbing, New Heating, Individually Metered, Sprinkler System, 2 Garages and a Beautiful Private Patio. Building brings in +8K/month. Unit 3 is currently vacant - A great owner occupied opportunity!

Key facts

• New plumbing
• Fully updated
• Individually metered

Tags

• FULLY UPDATED
• NEW PLUMBING
• NEW HEATING
• INDIVIDUALLY METERED
• SPRINKLER SYSTEM
• PRIVATE PATIO

Property features AI

Finance

• HOA & community: Owner pays trash collection, sewer, snow removal, and water

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Security: Fire sprinkler system; Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Quadruplex; Approximately 4,000 living area; Block foundation
• Construction: Stone, brick, and stucco construction; Flat rubber roof
• Exterior features: Patio; Garden; Back yard fencing

Interior

• Bedrooms: Unit 1: 2–3 bedrooms (multiple bedroom counts listed); Unit 2: 3 bedrooms; Unit 3: 4 bedrooms; Unit 4: 5 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: Six full bathrooms total; Full baths located on Basement, 1st, 2nd (two), and 3rd (two) levels
• Heating & cooling: Electric forced-air heating; Window air conditioning units
• Interior features: Walk-in closets; Ceramic tile baths
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/1.5-bath units multifamily listed at $735k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $371/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $735k).
• Cap rate 8.7% 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.
• 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 $8,023/mo this rent would consume 127% 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 $5k of loan paydown is wiped out by about $22k 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 $206k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $83k; list at $735k implies a 786% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $735,000

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 1890 — 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: 1.09% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.96×
• Total profit: $-9,204
• Equity at exit: $109,591

10-year hold

• IRR: 10.4%
• Equity multiple: 1.87×
• Total profit: $179,469
• Equity at exit: $63,549

Cash invested: $205,800 (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: 30.5×

Monthly cashflow live

• Estimated rent: $8,023 medium
• Mortgage (P&I): −$3,854
• Tax from tax record: −$694 /mo · $8,334/yr
• Insurance: −$306
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,685
• Net cashflow: $1,483

Break-even live

Break-even rent $6,146

Max offer price $735,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,899	-5% $1,691	+0% $1,483	+5% $1,275	+10% $1,067
Rent	-10% $849	-5% $1,166	+0% $1,483	+5% $1,800	+10% $2,117
Rate	-1.0pp $1,853	-0.5pp $1,670	base $1,483	+0.5pp $1,293	+1.0pp $1,099

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	1.5	$8,024
Total (4 units)			$8,023

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: $183,750
• Closing costs: $22,050
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   status $735,000 Pending 6 DOM
2. 2026-06-01
   days on market $735,000 Active 6 DOM
3. 2026-05-31
   days on market $735,000 Active 5 DOM
4. 2026-05-31
   days on market $735,000 Active 4 DOM
5. 2026-05-25
   listed $735,000 Active
6. 2017-10-18
   soldstatus $83,000

ⓘ 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: $8,334 · $694/mo
• Projected year-2 tax: $10,378 · $865/mo
• Expected delta: +$2,044/yr (+$170/mo · 24.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 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: $96,276
• − Mortgage interest: −$41,171
• − Property taxes: −$8,334
• − Insurance: −$3,675
• − Repairs & maintenance: −$7,702
• − Management: −$7,702
• − Depreciation: −$21,382
• Taxable income: $6,310
• Est. tax owed @ 24.0%: −$1,514
• After-tax cash flow: $16,282/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 · 6 photos

Good 80/100 Cosmetic rehab

A fully updated 4-unit building with modern amenities and a private patio, located within walking distance to RPI. Ready for immediate occupancy and investment.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the property's curb appeal and can attract more tenants/investors.
• Both Addition of smart home features — Improves convenience and can be marketed as a modern, tech-savvy property.
• Rental Upgrading the patio area — Can increase rental income by providing a more attractive living space for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the property's curb appeal and can attract more tenants/investors. ↑
• Both Addition of smart home features — Improves convenience and can be marketed as a modern, tech-savvy property. ↑
• Rental Upgrading the patio area — Can increase rental income by providing a more attractive living space for tenants. ↑

ⓘ 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: 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

+785.5% since first listed

2 events — show timeline

• 2026-05-25 Listed $735,000 Global MLS
• 2017-10-18 Sold (Public Records) $83,000 Public Records

Property tax history

+45.1%/yr

Latest (2025): $8,334 · -38.9% YoY. Source: county tax records.