67 Harris Ave · Albany, NY 12208

$260,000

2 bd · 2.0 ba · 1,409 sqft · MultiFamily public records · 4 Days on market

Built 1935 3,049 sqft lot Est $225k · 15% over

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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 +22.5/30.0
• DSCR +7.2/10.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Ideal owner occupant property located in the lovely Helderberg community. Home features off street parking, paved driveway, fenced private back yard and shed. Long term tenant downstairs who is there only during the work week (rent could be higher) and super cozy upstairs unit with 2 floors of living space. Upstairs attic has been finished and you could use as 2nd bedroom / family room/ rec room, etc. Cozy front porch to sip your morning coffee and overall fantastic condition and convenient location. Roof approximately 10 years old. Excellent Condition

Key facts

• Bonus room
• Updated kitchen
• Breakfast bar

Tags

• UPDATED KITCHEN
• BREAKFAST BAR
• BONUS ROOM
• HARDWOOD FLOORS
• SCREEN PORCH
• BASEMENT WITH LAUNDRY

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Multifamily property with 2 units; Tenants pay hot water, internet, cable TV, and electricity; Owner pays water, sewer, and heat
• HOA & community: No HOA information provided

Exterior

• Parking: Driveway with space for 2 vehicles
• Security: No security details provided
• Utilities: Public water; Public sewer; Circuit breaker electrical panel; Cable available
• Home design: Duplex; Living area reported as 1,709; Lot approximately 0.07 acre (irregular shape)
• Construction: Wood siding construction
• Exterior features: Asphalt roof; Other exterior features; Irregular lot

Interior

• Kitchen: Each unit includes a kitchen (Unit 1: 1 kitchen on 1st floor; Unit 2: 1 kitchen on 2nd floor)
• Bedrooms: Unit 1: 1 bedroom on the 1st floor; Unit 2: 1 bedroom on the 2nd floor
• Flooring: Vinyl flooring; Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms (one on 1st floor, one on 2nd floor)
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: Vinyl, tile, and wood flooring; Unfinished full basement with interior and exterior entry
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 8.3% 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); 100 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,107/mo this rent would consume 53% 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 $8k 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 $73k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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 $205k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $225,440
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 Ontario St	0.42mi	3/2.0 (+1)	1,424 (+1%)	20mo	$227,500	$160	57

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-7,377
• Equity at exit: $38,767

10-year hold

• IRR: 9.4%
• Equity multiple: 1.80×
• Total profit: $58,392
• Equity at exit: $22,480

Cash invested: $72,800 (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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 100
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $3,107 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$543 /mo · $6,511/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $440

Break-even live

Break-even rent $2,550

Max offer price $260,000

Occupancy floor 81%

Sensitivity live

Price	-10% $587	-5% $514	+0% $440	+5% $367	+10% $293
Rent	-10% $195	-5% $317	+0% $440	+5% $563	+10% $686
Rate	-1.0pp $571	-0.5pp $506	base $440	+0.5pp $373	+1.0pp $304

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,108
Total (2 units)			$3,107

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Harris Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,600	$1.60	15d	1	0.09mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	44d	1	0.48mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	24d	1	0.48mi
35 Parkwood St Albany, NY	2.0	1.0	900	$1,495	$1.66	24d	1	0.51mi
86 Hackett Blvd Albany, NY	2.0	1.0	1100	$1,900	$1.73	24d	1	0.57mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	24d	1	0.59mi
6A Weis Rd Albany, NY	2.0	1.0	900	$1,610	$1.79	15d	1	0.67mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	15d	1	0.69mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	44d	1	0.70mi
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	44d	1	0.72mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	44d	1	0.76mi
563 New Scotland Ave Albany, NY	2.0	1.0–2.0	931	$3,125	$3.36	15d	37	0.76mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	44d	1	0.79mi
50 Southern Blvd Albany, NY	3.0	1.0	1200	$1,650	$1.38	15d	1	0.82mi
22 Hurlbut St Albany, NY	3.0	1.0	1209	$2,050	$1.70	44d	1	0.90mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	24d	1	0.90mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	15d	1	0.91mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	15d	1	1.00mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	44d	1	1.08mi
53 Greenway N Albany, NY	3.0	2.0	1500	$2,600	$1.73	24d	1	1.10mi
39 S Lake Ave Unit 1 Albany, NY	1.0	1.0	900	$1,600	$1.78	44d	1	1.10mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	24d	1	1.12mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	24d	1	1.12mi
180 Western Ave Unit 2nd Floor Albany, NY	2.0	1.0	1000	$1,575	$1.57	44d	1	1.13mi
180 Western Ave Unit 1st Floor Albany, NY	2.0	1.0	900	$1,550	$1.72	44d	1	1.14mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	15d	1	1.14mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	24d	1	1.14mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	15d	1	1.15mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	15d	1	1.20mi
88 Willett St Albany, NY	3.0	1.0	825	$1,802	$2.18	15d	10	1.21mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	44d	1	1.24mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	24d	1	1.25mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	44d	1	1.25mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	44d	1	1.25mi
460 Washington Ave Albany, NY	2.0	1.0	950	$1,650	$1.74	24d	1	1.29mi
4 Irving St Unit 2nd Floor Albany, NY	3.0	1.0	1000	$1,695	$1.70	44d	1	1.32mi
366 Hamilton St #2 Albany, NY	1.0	1.0	1400	$1,800	$1.29	15d	1	1.32mi
364 Madison Ave Albany, NY	2.0	2.0	1150	$1,850	$1.61	22d	1	1.32mi
357 Madison Ave Unit Basement Albany, NY	1.0	1.0	900	$1,550	$1.72	15d	1	1.34mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	44d	1	1.35mi

Listing history 5 events

1. 2026-06-07
   remarks 584-char remark
2. 2026-06-07
   statusdays on market $260,000 Pending 4 DOM
3. 2026-06-03
   days on market $260,000 Active 2 DOM
4. 2026-06-01
   remarks 533-char remark
5. 2026-06-01
   listed $260,000 Active 1 DOM

ⓘ 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: $6,511 · $543/mo
• Projected year-2 tax: $6,511 · $543/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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: $37,284
• − Mortgage interest: −$14,564
• − Property taxes: −$6,511
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,983
• − Management: −$2,983
• − Depreciation: −$7,564
• Taxable income: $1,380
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $4,951/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

+104.9% since first listed

18 events — show timeline

• 2026-05-31 Listed $260,000 Global MLS
• 2020-10-13 Sold (Public Records) $205,000 Public Records
• 2020-10-09 Sold (MLS) $205,000 Global MLS
• 2020-10-06 Pending — Global MLS
• 2020-09-29 Relisted — Global MLS
• 2020-07-27 Pending — Global MLS
• 2020-07-20 Listed $219,900 Global MLS
• 2019-06-25 Sold (Public Records) $180,000 Public Records
• 2019-06-20 Sold (MLS) $180,000 Global MLS
• 2019-05-13 Pending — Global MLS
• 2019-05-06 Listed $185,000 Global MLS
• 2004-07-09 Sold (Public Records) $124,500 Public Records
• 2004-07-01 Sold (MLS) $124,500 Global MLS
• 2004-07-01 Sold (MLS) $124,500 Global MLS
• 2004-04-19 Listing Removed — Global MLS
• 2004-04-19 Listing Removed — Global MLS
• 2004-03-17 Listed $126,900 Global MLS
• 2004-03-17 Listed $126,900 Global MLS

Property tax history

+2.1%/yr

Latest (2025): $6,511 · +2.9% YoY. Source: county tax records.