308 Delaware Ave · Albany, NY 12209

$219,900

3 bd · 2.0 ba · 1,485 sqft · SingleFamily public records · 27 Days on market

Built 1890 2,178 sqft lot Est $245k · 10% under

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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).

• Cash flow +13.8/30.0
• ARV discount +12.1/15.0
• DSCR +4.2/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity for Owner/Occupant or Investor. This building is near the Spectrum Theater. A safe, convenient, diverse neighborhood. The Albany School District’s Award-winning Delaware Community School 18 (Pre-K to 5) is a block away. As is the Albany Public Library. The CDTA Bus line runs along Delaware Ave, providing you with reliable transportation downtown and to the rest of the Capital District. 48 hr. notice.

Key facts

• Walking to dining
• First floor laundry
• Walking to library

Tags

• FIRST FLOOR LAUNDRY
• WALKING TO LOCAL THEATRE
• WALKING TO LIBRARY
• WALKING TO SHOPS
• WALKING TO DINING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Aluminum and wood siding construction; Brick/mortar foundation
• Construction: Aluminum siding; Wood siding; Brick/mortar foundation; Shingle roof
• Exterior features: Level lot; Patio/porch is enclosed; Shingle roof

Interior

• Kitchen: Range; Range hood; Gas oven; Refrigerator
• Bedrooms: Three bedrooms on the second floor
• Flooring: Wood flooring; Linoleum flooring
• Bathrooms: Two full bathrooms — one on the first floor and one on the second floor
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: 9 total rooms; Basement is full with walk-out access; Enclosed patio/porch (other)
• Laundry & utility: First-floor laundry room; Washer/Dryer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $21 ($247/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (8.8% below list).
• Recommended offer: $201k (8.8% below list) — sets the bar for 1% rule.

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: 47 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 675 units permitted in Albany County in 2024 (451 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.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $87k; list at $220k implies a 153% 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 $200,568 (8.8% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.91% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $245,025
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Carroll Ter	0.11mi	4/2.0 (+1)	1,536 (+3%)	6mo	$245,723	$160	79
32 Marshall St	0.19mi	3/1.5	1,448 (-2%)	9mo	$260,000	$180	77
1 S Marshall St	0.30mi	3/2.0	1,399 (-6%)	7mo	$210,000	$150	70
2 Kehoe St	0.45mi	3/2.0	1,542 (+4%)	3mo	$239,900	$156	70
23 Barrows St	0.39mi	3/1.5	1,312 (-12%)	6mo	$198,000	$151	56
81 Edgecomb St	0.75mi	2/1.0 (-1)	1,486 (+0%)	1mo	$289,000	$194	55
1A Providence Pl	0.48mi	3/1.0	1,360 (-8%)	6mo	$225,000	$165	55
16 Regent St	0.47mi	3/1.5	1,640 (+10%)	5mo	$205,000	$125	55
24 Sparkill Ave	0.55mi	3/1.5	1,351 (-9%)	6mo	$170,000	$126	52
167 Southern Blvd	0.53mi	3/2.0	1,277 (-14%)	3mo	$225,000	$176	50
3 Mapleridge Ave	0.57mi	3/2.0	1,280 (-14%)	3mo	$255,000	$199	48
39 Lawnridge Ave	0.74mi	3/1.0	1,400 (-6%)	6mo	$267,800	$191	48

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-34,267
• Equity at exit: $32,788

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-27,921
• Equity at exit: $19,013

Cash invested: $61,572 (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 12209

• Home prices YoY: -7.3%
• Active inventory: 47
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,006 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$319 /mo · $3,830/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $21

Break-even live

Break-even rent $1,980

Max offer price $219,900

Occupancy floor 94%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Bertha St Albany, NY	4.0	1.0	1116	$2,000	$1.79	23d	1	0.18mi
22 Hurlbut St Albany, NY	3.0	1.0	1209	$2,050	$1.70	44d	1	0.20mi
86 Hackett Blvd Albany, NY	2.0	1.0	1100	$1,900	$1.73	23d	1	0.29mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	14d	1	0.30mi
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	44d	1	0.44mi
50 Southern Blvd Albany, NY	3.0	1.0	1200	$1,650	$1.38	14d	1	0.53mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	44d	1	0.65mi
4 Irving St Unit 2nd Floor Albany, NY	3.0	1.0	1000	$1,695	$1.70	44d	1	0.72mi
364 Madison Ave Albany, NY	2.0	2.0	1150	$1,850	$1.61	21d	1	0.81mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	23d	1	0.82mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	44d	1	0.82mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.82mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	44d	1	0.82mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	21d	1	0.83mi
341 Madison Ave Albany, NY	2.0	1.0	1000	$1,800	$1.80	14d	1	0.84mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	44d	1	0.85mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	23d	1	0.85mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	44d	1	0.85mi
42 Harris Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.86mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	0.86mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	0.89mi
98 Mount Hope Dr Albany, NY	2.0	1.5	1200	$2,000	$1.67	14d	1	0.90mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	44d	1	0.91mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	21d	1	0.93mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	14d	1	0.93mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	44d	1	0.97mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	44d	1	0.98mi
149 Jay St Albany, NY	2.0	1.0	1000	$1,750	$1.75	44d	1	0.99mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	23d	1	1.00mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	44d	1	1.02mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	44d	1	1.04mi
352 State St Albany, NY	2.0	2.0	1143	$2,500	$2.19	23d	1	1.08mi
135 Madison Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,400	$1.40	44d	1	1.10mi
168 S Pearl St Albany, NY	3.0	1.5	1044	$1,800	$1.72	23d	1	1.11mi
151 S Pearl St Albany, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	1.12mi
199 Lark St Albany, NY	3.0	1.0	1000	$1,800	$1.80	44d	1	1.12mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	1.15mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	1.16mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	44d	1	1.17mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	1.17mi

Listing history 22 events

1. 2026-06-18
   days on market $219,900 Active 27 DOM
2. 2026-06-17
   days on market $219,900 Active 26 DOM
3. 2026-06-16
   days on market $219,900 Active 25 DOM
4. 2026-06-15
   days on market $219,900 Active 24 DOM
5. 2026-06-14
   days on market $219,900 Active 22 DOM
6. 2026-06-10
   days on market $219,900 Active 19 DOM
7. 2026-06-08
   days on market $219,900 Active 17 DOM
8. 2026-06-07
   days on market $219,900 Active 16 DOM
9. 2026-06-03
   days on market $219,900 Active 12 DOM
10. 2026-06-02
    days on market $219,900 Active 11 DOM
11. 2026-06-01
    days on market $219,900 Active 10 DOM
12. 2026-05-31
    days on market $219,900 Active 9 DOM
13. 2026-05-31
    days on market $219,900 Active 8 DOM
14. 2026-05-22
    listed $219,900 Active
15. 2026-03-05
    historical
16. 2025-11-17
    price $229,900
17. 2025-11-10
    listed $249,900 Active
18. 2020-06-24
    soldstatus $87,000 Closed (Final Sale) 436-char remark

    Show marketing remark (436 chars)

    Excellent opportunity for Owner/Occupant or Investor. This building is near the Spectrum Theater. A safe, convenient, diverse neighborhood. The Albany School District’s Award-winning Delaware Community School 18 (Pre-K to 5) is a block away. As is the Albany Public Library. The CDTA Bus line runs along Delaware Ave, providing you with reliable transportation downtown and to the rest of the Capital District. 48 hr. notice.

19. 2020-03-27
    status Pend (Under Cntr) 436-char remark

    Show marketing remark (436 chars)

    Excellent opportunity for Owner/Occupant or Investor. This building is near the Spectrum Theater. A safe, convenient, diverse neighborhood. The Albany School District’s Award-winning Delaware Community School 18 (Pre-K to 5) is a block away. As is the Albany Public Library. The CDTA Bus line runs along Delaware Ave, providing you with reliable transportation downtown and to the rest of the Capital District. 48 hr. notice.

20. 2019-08-28
    price $95,000 436-char remark

    Show marketing remark (436 chars)

    Excellent opportunity for Owner/Occupant or Investor. This building is near the Spectrum Theater. A safe, convenient, diverse neighborhood. The Albany School District’s Award-winning Delaware Community School 18 (Pre-K to 5) is a block away. As is the Albany Public Library. The CDTA Bus line runs along Delaware Ave, providing you with reliable transportation downtown and to the rest of the Capital District. 48 hr. notice.

21. 2019-04-02
    listed $100,000 New 436-char remark

    Show marketing remark (436 chars)

    Excellent opportunity for Owner/Occupant or Investor. This building is near the Spectrum Theater. A safe, convenient, diverse neighborhood. The Albany School District’s Award-winning Delaware Community School 18 (Pre-K to 5) is a block away. As is the Albany Public Library. The CDTA Bus line runs along Delaware Ave, providing you with reliable transportation downtown and to the rest of the Capital District. 48 hr. notice.

22. 2001-07-05
    soldstatus $50,000

ⓘ 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: $3,830 · $319/mo
• Projected year-2 tax: $3,830 · $319/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: $24,068
• − Mortgage interest: −$12,318
• − Property taxes: −$3,830
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − Depreciation: −$6,397
• Taxable loss: −$3,427
• Est. tax savings @ 24.0%: +$822
• After-tax cash flow: $1,069/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
• City population: 116,921
• Population (ZIP): 10,754

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 46% Black 23% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Serbian 1%
• Foreign-born: 18% · Canada, Philippines, South Korea
• Languages at home: 77% English-only · Spanish 13% Other Asian/Pacific 3% Tagalog/Filipino 1%

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: ▼ -24.91%
• Current HPI: 318.0191
• 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

+339.8% since first listed

9 events — show timeline

• 2026-05-22 Listed $219,900 Global MLS
• 2026-03-05 Listing Removed — Global MLS
• 2025-11-17 Price Changed $229,900 Global MLS
• 2025-11-10 Listed $249,900 Global MLS
• 2020-06-24 Sold (MLS) $87,000 Global MLS
• 2020-03-27 Pending — Global MLS
• 2019-08-28 Price Changed $95,000 Global MLS
• 2019-04-02 Listed $100,000 Global MLS
• 2001-07-05 Sold (Public Records) $50,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,830 · +2.4% YoY. Source: county tax records.