316 Sherman St · Albany, NY 12206

$44,900

2 bd · 1.0 ba · 907 sqft · SingleFamily public records · 10 Days on market

Built 1890 5,227 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

WELL CARED FOR HOME WITH PRIVATE REAR YARD. MANY IMPROVEMENTS. NEW ELECTRICAL, PLUMBING, NEWER MECHANICALS. NEW FLOOR IN KITCHEN. NEWER BATHROOM. EASY TO SHOW. Very Good Condition

Key facts

• Open floor plan
• Flexible layout
• Backyard

Tags

• OPEN FLOOR PLAN
• FLEXIBLE LAYOUT
• BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1,368 living area
• Construction: Built with other construction materials
• Exterior features: Lot approximately 0.12 acres; Lot dimensions approximately 23 x 225.2

Interior

• Kitchen: Kitchen on first level
• Bedrooms: Bedroom on first level; Bedroom on second level; Bedroom on first level
• Bathrooms: 1 full bathroom on first level
• Heating & cooling: Hot water heating; Wall cooling unit(s)
• Interior features: 5 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Cap rate 29.9% 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 (+5.4%/yr); 89 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); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $1,627/mo this rent would consume 47% of the median local household income ($42k/yr) (locally 2035% 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 $310 of loan paydown is wiped out by about $1k 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 + 5.4% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $45k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,900

Questions for the listing agent

1. Built in 1890 — 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 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: 3.62% ✓
• Cap rate: 29.93%
• Cash-on-cash: 84.43%
• DSCR: 4.76
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $138,771
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Benson St	0.32mi	2/1.0	897 (-1%)	1mo	$194,000	$216	82
152 Ontario St	0.19mi	3/1.0 (+1)	935 (+3%)	8mo	$125,350	$134	75
423 3rd St	0.29mi	3/1.5 (+1)	930 (+2%)	11mo	$60,000	$65	66
252 Yates St	0.63mi	2/1.5	980 (+8%)	1mo	$150,000	$153	54
120 Spring St	0.24mi	2/1.0	800 (-12%)	20mo	$150,000	$188	53
368 Elk St	0.23mi	3/1.0 (+1)	1,040 (+15%)	17mo	$77,000	$74	46
502 Morris St	0.71mi	2/1.0	1,040 (+15%)	24mo	$165,000	$159	23

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 87.7%
• Equity multiple: 5.22×
• Total profit: $53,111
• Equity at exit: $6,695

10-year hold

• IRR: 91.4%
• Equity multiple: 11.84×
• Total profit: $136,223
• Equity at exit: $3,882

Cash invested: $12,572 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,627 high
• Mortgage (P&I): −$235
• Tax from tax record: −$147 /mo · $1,762/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $884

Break-even live

Break-even rent $508

Max offer price $44,900

Occupancy floor 41%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
260 Bradford St Unit 205 Albany, NY	3.0	2.0	912	$1,700	$1.86	23d	1	0.24mi
260 Bradford St Unit 105 Albany, NY	2.0	1.0	745	$1,500	$2.01	23d	1	0.24mi
260 Bradford St Unit 102 Albany, NY	1.0	1.0	571	$1,300	$2.28	23d	1	0.24mi
400 Central Ave Albany, NY	2.0	1.0	675	$1,591	$2.36	43d	11	0.25mi
460 Washington Ave Albany, NY	2.0	1.0	950	$1,650	$1.74	23d	1	0.26mi
469 Livingston Ave Albany, NY	1.0–3.0	1.0	685	$1,452	$2.12	14d	1	0.33mi
530 3rd St Apt 2 Albany, NY	2.0	1.0	900	$1,400	$1.56	43d	1	0.33mi
184 Quail St Albany, NY	3.0	1.0	618	$1,600	$2.59	43d	1	0.35mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	23d	1	0.39mi
180 Western Ave Unit 1st Floor Albany, NY	2.0	1.0	900	$1,550	$1.72	43d	1	0.39mi
152 Western Ave Unit 3R Albany, NY	1.0	1.0	675	$1,195	$1.77	14d	1	0.39mi
180 Western Ave Unit 2nd Floor Albany, NY	2.0	1.0	1000	$1,575	$1.57	43d	1	0.39mi
316 2nd St Albany, NY	3.0	1.0	850	$1,700	$2.00	43d	1	0.40mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	23d	1	0.43mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	23d	1	0.43mi
39 S Lake Ave Unit 1 Albany, NY	1.0	1.0	900	$1,600	$1.78	43d	1	0.45mi
336 Washington Ave Unit 1 Albany, NY	1.0	1.0	750	$1,495	$1.99	43d	1	0.46mi
526 Central Ave Albany, NY	1.0–2.0	1.0	957	$1,435	$1.50	43d	1	0.49mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	0.54mi
336 Clinton Ave Albany, NY	2.0	1.0	900	$1,700	$1.89	43d	1	0.60mi
800 Madison Ave Albany, NY	1.0–2.0	1.0	800	$1,650	$2.06	14d	2	0.63mi
1 Bleecker Ter Albany, NY	1.0–2.0	1.0	609	$1,499	$2.46	14d	1	0.66mi
110 Lark St Unit STREET-1 Albany, NY	2.0	1.0	975	$1,150	$1.18	21d	1	0.75mi
110 Lark St Unit STREET-1 Albany, NY	2.0	1.0	975	$1,150	$1.18	14d	1	0.75mi
504 Morris St Albany, NY	2.0	1.0	720	$1,395	$1.94	23d	1	0.75mi
504 Morris St Albany, NY	2.0	1.0	720	$1,450	$2.01	43d	1	0.75mi
254 Sheridan Ave Unit 2 Albany, NY	3.0	1.0	900	$1,300	$1.44	23d	1	0.77mi
65 Lark St Albany, NY	1.0	1.0	900	$1,200	$1.33	43d	1	0.78mi
199 Lark St Albany, NY	3.0	1.0	1000	$1,800	$1.80	43d	1	0.79mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	43d	1	0.83mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	43d	1	0.83mi
86 Dana Ave Albany, NY	1.0	1.0	731	$1,750	$2.39	14d	4	0.85mi
521 Warren St Albany, NY	2.0	1.0	850	$2,300	$2.71	14d	1	0.85mi
155 Chestnut St Albany, NY	2.0	1.0	850	$2,000	$2.35	14d	1	0.86mi
326 State St Albany, NY	1.0	1.0	1000	$1,600	$1.60	43d	1	0.86mi
170 Washington Ave Albany, NY	1.0	1.0	600	$1,700	$2.83	43d	1	0.87mi
88 Willett St Albany, NY	3.0	1.0	825	$1,802	$2.18	14d	10	0.88mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	0.88mi
318 State St Unit 8 Albany, NY	1.0	1.0	750	$1,495	$1.99	23d	1	0.88mi
318 State St Unit 1 Albany, NY	1.0	1.0	750	$1,395	$1.86	43d	1	0.88mi

Listing history 7 events

1. 2026-06-18
   days on market $44,900 Active 10 DOM
2. 2026-06-17
   price $44,900 Active 9 DOM
3. 2026-06-17
   days on market $49,900 Active 9 DOM
4. 2026-06-16
   days on market $49,900 Active 8 DOM
5. 2026-06-15
   days on market $49,900 Active 7 DOM
6. 2026-06-14
   remarks 193-char remark
7. 2026-06-14
   listed $49,900 Active 5 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: $1,762 · $147/mo
• Projected year-2 tax: $1,762 · $147/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 · 17 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: $19,527
• − Mortgage interest: −$2,515
• − Property taxes: −$1,762
• − Insurance: −$224
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$1,306
• Taxable income: $10,595
• Est. tax owed @ 24.0%: −$2,543
• After-tax cash flow: $8,071/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+232.7% since first listed

7 events — show timeline

• 2026-06-07 Listed $49,900 Global MLS
• 2004-05-28 Sold (MLS) $28,000 Global MLS
• 2004-03-25 Listing Removed — Global MLS
• 2003-10-25 Listed $30,000 Global MLS
• 2000-10-19 Sold (MLS) $13,000 Global MLS
• 2000-10-03 Sold (Public Records) $13,000 Public Records
• 2000-01-29 Listed $15,000 Global MLS

Property tax history

+19.9%/yr

Latest (2025): $1,762 · -13.0% YoY. Source: county tax records.