349 Gifford Rd · Schenectady, NY 12304

$168,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 8 Days on market

Built 1970 5,227 sqft lot Est $224k · 24% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.9/30.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A REAL BUDGET PLEASER!SPACIOUS LIV RM W/FLR TO CEILING BRICK FP & NEW BAYED WINDOW.SUPER SIZE COUNTRY KITCHEN. ELEC BB HEAT BUT LOW UTILITIES.FULLY APPL.LOTS OF STRG. IN ATTIC & BSMT.LOVELY PRIV YARD.CONV TO ELEM SCHOOL -- Excellent Condition

Key facts

• 5,227 sq ft lot
• 2 parking spots
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-43 ($-517/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (4.5% below list).
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $161k (4.5% below list) — sets the bar for cash-flow.

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: 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.
• Zoned schools: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 106 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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 $60k; list at $169k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.

Recommended offer $161,283 (4.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $223,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 Gifford Rd	0.00mi	3/1.0	1,040 (0%)	0mo	$150,000	$144	100
543 Clayton Rd	0.30mi	3/1.0	1,025 (-1%)	6mo	$240,000	$234	78
230 Gasner Ave	0.43mi	3/1.0	1,040 (0%)	4mo	$298,000	$287	76
517 Kings Rd	0.40mi	3/1.5	1,075 (+3%)	2mo	$235,000	$219	72
320 Gasner Ave	0.42mi	2/1.0 (-1)	1,012 (-3%)	2mo	$260,000	$257	69
120 East Palmer Ave	0.59mi	3/1.0	1,053 (+1%)	3mo	$300,000	$285	68
197 Fillmore Ave	0.48mi	2/1.5 (-1)	1,012 (-3%)	4mo	$200,000	$198	63
35 Eastholm Rd	0.66mi	3/1.0	1,086 (+4%)	0mo	$233,100	$215	61
655 Fillmore Ave	0.58mi	3/1.0	1,103 (+6%)	5mo	$162,000	$147	59
1044 Climax Ave	0.32mi	3/2.0	1,183 (+14%)	1mo	$135,000	$114	57
26 Shirley Dr	0.56mi	4/1.0 (+1)	1,125 (+8%)	3mo	$195,000	$173	53
325 Midland Ave	0.57mi	3/1.5	1,140 (+10%)	5mo	$220,000	$193	51

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-29,915
• Equity at exit: $25,184

10-year hold

• IRR: -9.9%
• Equity multiple: 0.39×
• Total profit: $-28,774
• Equity at exit: $14,603

Cash invested: $47,292 (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 12304

• Home prices YoY: -25.5%
• Active inventory: 106
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$886
• Tax from tax record: −$493 /mo · $5,912/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-43

Break-even live

Break-even rent $1,834

Max offer price $161,283

Occupancy floor 97%

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: $42,225
• Closing costs: $5,067
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4208 Court Royale Schenectady, NY	2.0	1.0	860	$1,590	$1.85	14d	1	0.41mi
4219 Menga Dr Schenectady, NY	2.0	1.0	865	$1,775	$2.05	14d	1	0.43mi
103 Kings Rd Unit 106 Schenectady, NY	2.0	2.0	1100	$1,450	$1.32	14d	1	0.65mi
66 Cordell Rd Schenectady, NY	2.0	1.0	744	$1,900	$2.55	44d	1	0.85mi
2810 Consaul Rd Schenectady, NY	2.0	2.0	1450	$2,700	$1.86	14d	1	1.02mi
6 Arrow St Schenectady, NY	2.0	1.0	1400	$2,000	$1.43	14d	1	1.36mi

Listing history 6 events

1. 2026-04-16
   status Pending
2. 2026-04-07
   listed $168,900 Active
3. 1999-06-04
   soldstatus $60,420
4. 1999-06-02
   soldstatus $59,200 250-char remark

   Show marketing remark (250 chars)

   A REAL BUDGET PLEASER!SPACIOUS LIV RM W/FLR TO CEILING BRICK FP & NEW BAYED WINDOW.SUPER SIZE COUNTRY KITCHEN. ELEC BB HEAT BUT LOW UTILITIES.FULLY APPL.LOTS OF STRG. IN ATTIC & BSMT.LOVELY PRIV YARD.CONV TO ELEM SCHOOL -- Excellent Condition

5. 1999-04-23
   historical 250-char remark

   Show marketing remark (250 chars)

   A REAL BUDGET PLEASER!SPACIOUS LIV RM W/FLR TO CEILING BRICK FP & NEW BAYED WINDOW.SUPER SIZE COUNTRY KITCHEN. ELEC BB HEAT BUT LOW UTILITIES.FULLY APPL.LOTS OF STRG. IN ATTIC & BSMT.LOVELY PRIV YARD.CONV TO ELEM SCHOOL -- Excellent Condition

6. 1998-08-24
   listed $62,000 250-char remark

   Show marketing remark (250 chars)

   A REAL BUDGET PLEASER!SPACIOUS LIV RM W/FLR TO CEILING BRICK FP & NEW BAYED WINDOW.SUPER SIZE COUNTRY KITCHEN. ELEC BB HEAT BUT LOW UTILITIES.FULLY APPL.LOTS OF STRG. IN ATTIC & BSMT.LOVELY PRIV YARD.CONV TO ELEM SCHOOL -- Excellent Condition

ⓘ 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: $5,912 · $493/mo
• Projected year-2 tax: $5,912 · $493/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $21,351
• − Mortgage interest: −$9,461
• − Property taxes: −$5,912
• − Insurance: −$844
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$4,913
• Taxable loss: −$3,196
• Est. tax savings @ 24.0%: +$767
• After-tax cash flow: $250/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
• City population: 141,369
• Population (ZIP): 22,027

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% Other Asian/Pacific 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: ▼ -113.18%
• Current HPI: 331.0288
• 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

+172.4% since first listed

6 events — show timeline

• 2026-04-16 Pending — Global MLS
• 2026-04-07 Listed $168,900 Global MLS
• 1999-06-04 Sold (Public Records) $60,420 Public Records
• 1999-06-02 Sold (MLS) $59,200 Global MLS
• 1999-04-23 Listing Removed — Global MLS
• 1998-08-24 Listed $62,000 Global MLS

Property tax history

+1.2%/yr

Latest (2025): $5,912 · +2.1% YoY. Source: county tax records.