335 1st St · Troy, NY 12180

$359,999

6 bd · 3.5 ba · 3,591 sqft · MultiFamily public records · 72 Days on market

Built 1930 3,049 sqft lot $100/sqft · 26% below area Est $490k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

335 1st St in South Troy - $359,000 Brick 3 Family For Sale All separate utilities. Three bedrooms per flat Backyard, off street parking (rear of building) 1st Floor - Vacant (perfect for an owner occupied buyer) or rent it for $1400 2nd Floor - Rented - $850 3rd Floor - Rented - $1275

Key facts

• 3,049 sq ft lot
• 2 parking spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $485/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $360k).
• Recommended offer: $338k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 $5,612/mo this rent would consume 89% 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 $2k of loan paydown is wiped out by about $11k 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 $101k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y 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 $240k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,399 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.56% ✓
• Cap rate: 12.67%
• Cash-on-cash: 22.79%
• DSCR: 2.01
• GRM: 5.3

CMA / ARV

• ARV (median comp): $490,446
• List price: $359,999
• Delta: -26.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 1st St	0.26mi	7/2.0 (+1)	3,576 (-0%)	6mo	$285,000	$80	71
231 2nd St	0.36mi	6/3.0	3,825 (+6%)	9mo	$316,000	$83	63
78 Hill St	0.49mi	7/4.0 (+1)	3,474 (-3%)	6mo	$449,000	$129	60
12 Tyler St	0.46mi	7/3.0 (+1)	3,333 (-7%)	6mo	$310,000	$93	55
229 2nd St	0.36mi	6/6.0	3,840 (+7%)	15mo	$450,000	$117	49
425 1st St	0.25mi	6/2.0	3,216 (-10%)	23mo	$225,000	$70	45
536 3rd Ave	0.68mi	5/4.0 (-1)	3,214 (-10%)	18mo	$315,000	$98	29
181 4th St	0.68mi	6/4.0	3,100 (-14%)	21mo	$535,000	$173	26

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.45×
• Total profit: $45,442
• Equity at exit: $53,677

10-year hold

• IRR: 21.8%
• Equity multiple: 3.05×
• Total profit: $206,463
• Equity at exit: $31,126

Cash invested: $100,800 (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: 16.0×

Monthly cashflow live

• Estimated rent: $5,612 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$482 /mo · $5,780/yr
• Insurance: −$150
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,179
• Net cashflow: $1,454

Break-even live

Break-even rent $3,772

Max offer price $359,999

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,613
Total (3 units)			$5,612

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-18
   days on market $359,999 Active 72 DOM
2. 2026-06-17
   days on market $359,999 Active 71 DOM
3. 2026-06-16
   days on market $359,999 Active 70 DOM
4. 2026-06-15
   days on market $359,999 Active 69 DOM
5. 2026-06-14
   days on market $359,999 Active 67 DOM
6. 2026-06-13
   days on market $359,999 Active 66 DOM
7. 2026-06-10
   days on market $359,999 Active 64 DOM
8. 2026-06-09
   days on market $359,999 Active 63 DOM
9. 2026-06-08
   days on market $359,999 Active 62 DOM
10. 2026-06-07
    days on market $359,999 Active 61 DOM
11. 2026-06-03
    days on market $359,999 Active 57 DOM
12. 2026-06-02
    days on market $359,999 Active 56 DOM
13. 2026-06-01
    days on market $359,999 Active 55 DOM
14. 2026-05-31
    days on market $359,999 Active 54 DOM
15. 2026-05-31
    days on market $359,999 Active 53 DOM
16. 2026-04-07
    listed $359,999 Active 299-char remark

    Show marketing remark (299 chars)

    335 1st St in South Troy - $359,000 Brick 3 Family For Sale All separate utilities. Three bedrooms per flat Backyard, off street parking (rear of building) 1st Floor - Vacant (perfect for an owner occupied buyer) or rent it for $1400 2nd Floor - Rented - $850 3rd Floor - Rented - $1275

17. 2022-07-28
    price $1,395
18. 2022-03-10
    soldstatus $240,000
19. 2021-12-14
    status Pending 422-char remark

    Show marketing remark (422 chars)

    This multifamily home could be a great investment opportunity. Close to downtown Troy, schools, attractions and adjacent to the (2 Family home 337 1st St, also for sale). Featuring a large newly fenced in back yard with parking, an additional access road. The first-floor unit is newly updated with laundry and a breakfast-nook, and the upper two floors have similar potential, and are well maintained. Very Good Condition

20. 2021-12-07
    status Pend (Under Cntr) 422-char remark

    Show marketing remark (422 chars)

    This multifamily home could be a great investment opportunity. Close to downtown Troy, schools, attractions and adjacent to the (2 Family home 337 1st St, also for sale). Featuring a large newly fenced in back yard with parking, an additional access road. The first-floor unit is newly updated with laundry and a breakfast-nook, and the upper two floors have similar potential, and are well maintained. Very Good Condition

21. 2021-11-24
    price $255,000 422-char remark

    Show marketing remark (422 chars)

    This multifamily home could be a great investment opportunity. Close to downtown Troy, schools, attractions and adjacent to the (2 Family home 337 1st St, also for sale). Featuring a large newly fenced in back yard with parking, an additional access road. The first-floor unit is newly updated with laundry and a breakfast-nook, and the upper two floors have similar potential, and are well maintained. Very Good Condition

22. 2021-10-21
    price $265,000 422-char remark

    Show marketing remark (422 chars)

    This multifamily home could be a great investment opportunity. Close to downtown Troy, schools, attractions and adjacent to the (2 Family home 337 1st St, also for sale). Featuring a large newly fenced in back yard with parking, an additional access road. The first-floor unit is newly updated with laundry and a breakfast-nook, and the upper two floors have similar potential, and are well maintained. Very Good Condition

23. 2021-10-07
    listed $275,000 New 422-char remark

    Show marketing remark (422 chars)

    This multifamily home could be a great investment opportunity. Close to downtown Troy, schools, attractions and adjacent to the (2 Family home 337 1st St, also for sale). Featuring a large newly fenced in back yard with parking, an additional access road. The first-floor unit is newly updated with laundry and a breakfast-nook, and the upper two floors have similar potential, and are well maintained. Very Good Condition

24. 2020-09-16
    soldstatus $215,000
25. 2020-09-09
    status Pend (Under Cntr)
26. 2020-09-08
    price $225,000
27. 2020-09-08
    price $215,000
28. 2020-09-07
    status Price Change
29. 2020-09-03
    soldstatus $215,000 Closed (Final Sale)
30. 2020-07-01
    status Pend (Under Cntr)
31. 2020-06-23
    listed $225,000 New
32. 2007-03-26
    soldstatus $107,916
33. 2007-03-14
    soldstatus $108,000
34. 2007-02-01
    historical
35. 2007-01-03
    listed $114,900
36. 2003-01-08
    soldstatus $50,000
37. 2002-12-31
    soldstatus $50,000
38. 2002-10-28
    historical
39. 2002-10-18
    listed $49,000

ⓘ 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: $5,780 · $482/mo
• Projected year-2 tax: $5,932 · $494/mo
• Expected delta: +$152/yr (+$13/mo · 2.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 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: $67,344
• − Mortgage interest: −$20,166
• − Property taxes: −$5,780
• − Insurance: −$7,325
• − Repairs & maintenance: −$5,388
• − Management: −$5,388
• − Depreciation: −$10,473
• Taxable income: $12,826
• Est. tax owed @ 24.0%: −$3,078
• After-tax cash flow: $14,364/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: 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

+634.7% since first listed

24 events — show timeline

• 2026-04-07 Listed $359,999 Global MLS
• 2022-07-28 Price Changed $1,395 RENT.
• 2022-03-10 Sold (Public Records) $240,000 Public Records
• 2021-12-14 Pending — Global MLS
• 2021-12-07 Pending — Global MLS
• 2021-11-24 Price Changed $255,000 Global MLS
• 2021-10-21 Price Changed $265,000 Global MLS
• 2021-10-07 Listed $275,000 Global MLS
• 2020-09-16 Sold (Public Records) $215,000 Public Records
• 2020-09-09 Pending — Global MLS
• 2020-09-08 Price Changed $225,000 Global MLS
• 2020-09-08 Price Changed $215,000 Global MLS
• 2020-09-07 Relisted — Global MLS
• 2020-09-03 Sold (MLS) $215,000 Global MLS
• 2020-07-01 Pending — Global MLS
• 2020-06-23 Listed $225,000 Global MLS
• 2007-03-26 Sold (Public Records) $107,916 Public Records
• 2007-03-14 Sold (MLS) $108,000 Global MLS
• 2007-02-01 Listing Removed — Global MLS
• 2007-01-03 Listed $114,900 Global MLS
• 2003-01-08 Sold (Public Records) $50,000 Public Records
• 2002-12-31 Sold (MLS) $50,000 Global MLS
• 2002-10-28 Listing Removed — Global MLS
• 2002-10-18 Listed $49,000 Global MLS

Property tax history

+16.3%/yr

Latest (2025): $5,780 · +2.3% YoY. Source: county tax records.