2 Providence St · Albany, NY 12203

$200,000

3 bd · 1.5 ba · 1,662 sqft · SingleFamily public records · 6 Days on market

Built 1934 0.30 ac lot

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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 +19.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.2/10.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Multiple offers received. Best & Final requested Sunday, 6/14 noon * * * Opportunity knocks in one of Guilderland's most sought-after locations! This classic 1930s Colonial presents an excellent opportunity for investors, flippers, or buyers looking to restore a home to its former glory. Owned by the same family for many years, the property retains its original character, including built ins, hardwood floors throughout and a full walk-up attic offering additional possibilities. Featuring 3 bedrooms, 1.5 bathrooms, and timeless charm, this home is ready for a complete renovation and is priced accordingly. Located in the highly regarded Guilderland Central School District, just m

Key facts

• Built ins
• Full walk-up attic
• Hardwood floors

Tags

• BUILT INS
• HARDWOOD FLOORS
• FULL WALK-UP ATTIC
• MOMENTS FROM STUYVESANT PLAZA

Property features AI

Exterior

• Parking: Paved driveway with room for 6 vehicles
• Utilities: 150 Amp electric service; Public water; Public sewer; Cable connected
• Home design: Single family residence; Fixer condition; Concrete perimeter foundation; Wood siding construction; Asphalt roof
• Construction: Built with wood siding; Concrete perimeter foundation; Asphalt roof
• Exterior features: Enclosed rear porch; Paved driveway; Back yard fencing

Interior

• Kitchen: Freezer; Refrigerator
• Bedrooms: Primary bedroom on second floor; Two additional bedrooms on second floor
• Flooring: Tile; Hardwood
• Bathrooms: One full bathroom on second floor; One half bathroom on first floor
• Heating & cooling: Natural gas heating
• Interior features: Built-in features; Ceramic tile bath; Full basement; Living room fireplace
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 7.7% 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.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Westmere Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 539 students, 26% FRL); Farnsworth Middle School (math 42% / reading 68%, grade B-, #212 of 729 statewide, top 29%, 1,151 students, 24% FRL); Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Market conditions: Rents rising (+1.9%/yr); 127 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 35% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1934 — 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: 1.20% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $425,472
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Elmwood St	0.11mi	3/1.5	1,560 (-6%)	15mo	$349,900	$224	72
27 E Parkwood St	0.19mi	3/1.5	1,570 (-6%)	13mo	$375,000	$239	71
58 E Highland Dr	0.38mi	3/2.0	1,557 (-6%)	2mo	$350,000	$225	68
18 E Highland Dr	0.48mi	3/2.0	1,651 (-1%)	14mo	$425,000	$257	62
1449 Western Ave	0.30mi	4/2.0 (+1)	1,655 (-0%)	21mo	$335,000	$202	61
20 E Highland Dr	0.48mi	3/2.5	1,552 (-7%)	11mo	$432,000	$278	53
31 Tryon Ct	0.73mi	3/2.0	1,504 (-10%)	9mo	$385,000	$256	40
203 Woodscape Dr	0.75mi	4/2.0 (+1)	1,512 (-9%)	5mo	$420,000	$278	38

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.64×
• Total profit: $-20,366
• Equity at exit: $29,821

10-year hold

• IRR: -2.6%
• Equity multiple: 0.84×
• Total profit: $-9,129
• Equity at exit: $17,292

Cash invested: $56,000 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 127
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,409 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$542 /mo · $6,500/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $229

Break-even live

Break-even rent $2,119

Max offer price $200,000

Occupancy floor 85%

Sensitivity live

Price	-10% $342	-5% $286	+0% $229	+5% $172	+10% $116
Rent	-10% $39	-5% $134	+0% $229	+5% $324	+10% $419
Rate	-1.0pp $330	-0.5pp $280	base $229	+0.5pp $177	+1.0pp $124

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Woodlake Rd Albany, NY	1.0–2.0	1.0–2.0	903	$2,050	$2.27	15d	1	0.62mi
416 Greenhill Ct Albany, NY	2.0	1.5	1350	$2,200	$1.63	45d	1	0.90mi
62 Homestead St Albany, NY	4.0	2.0	1600	$2,600	$1.62	45d	1	0.97mi
1700 Western Ave Albany, NY	1.0–2.0	1.0–2.0	1438	$2,500	$1.74	15d	1	1.04mi
32 Moreland Ave Unit NA Albany, NY	3.0	1.5	1500	$2,300	$1.53	22d	1	1.17mi
1000 Apex Ln Albany, NY	1.0–3.0	1.0–2.0	1525	$4,175	$2.74	15d	29	1.21mi
23 The Concourse Unit 21 Albany, NY	2.0	1.0	1200	$2,000	$1.67	15d	1	1.38mi
35 Cherry St Apt B Albany, NY	2.0	1.0	1400	$1,800	$1.29	45d	1	1.38mi

Listing history 4 events

1. 2026-06-16
   statusdays on market $200,000 Pending 6 DOM
2. 2026-06-15
   days on market $200,000 Active 5 DOM
3. 2026-06-14
   remarks 695-char remark
4. 2026-06-14
   listed $200,000 Active 3 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: $6,500 · $542/mo
• Projected year-2 tax: $6,500 · $542/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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: $28,903
• − Mortgage interest: −$11,203
• − Property taxes: −$6,500
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,312
• − Management: −$2,312
• − Depreciation: −$5,818
• Taxable loss: −$243
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $2,806/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 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

• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

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 (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 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: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• 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

1 event — show timeline

• 2026-06-10 Listed $200,000 Global MLS

Property tax history

+1.6%/yr

Latest (2025): $6,500 · +1.3% YoY. Source: county tax records.