1362 Parkwood Blvd · Schenectady, NY 12308

$199,900

5 bd · 2.0 ba · 2,724 sqft · MultiFamily public records · 6 Days on market

Built 1910 5,662 sqft lot Est $332k · 40% 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 +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Investment Opportunity Near Ellis Hospital & Union College! Both units available at closing! Attention investors and owner-occupants: Don't miss this two-family property ideally located near two of Schenectady's most prominent institutions. Whether you're looking to add to your rental portfolio or live in one unit while generating income from the other, this property checks all the boxes. Each unit offers over 1,300 square feet of generous living space featuring 3bedroooms on the first floor and 2 to 3 bedrooms on the second floor, each unit has a spacious living room, formal dining room, and eat-in kitchen and layouts that attract quality, long-term tenants. Separate utilities m

Key facts

• Separate utilities
• Formal dining room
• Eat in kitchen

Tags

• TWO FAMILY PROPERTY
• GENEROUS LIVING SPACE
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• EAT IN KITCHEN
• SEPARATE UTILITIES

Property features AI

Finance

• Financial info: Two-unit property; tenants pay hot water, heat, internet, cable TV, electricity, and gas

Exterior

• Parking: Detached garage; Driveway; Garage; Total parking for 4 vehicles; 2 garage spaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Duplex; Living area approximately 2,724; Aluminum siding and vinyl siding
• Construction: Built with aluminum and vinyl siding; Slate roof; Full basement
• Exterior features: Front porch; Rear porch; Porch; Other exterior features; Level lot

Interior

• Kitchen: Unit 1: kitchen; Unit 2: kitchen
• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 2 bedrooms (on 2nd floor)
• Flooring: Carpet; Ceramic tile; Hardwood; Linoleum
• Bathrooms: Unit 1: 1 full bath (1st floor); Unit 2: 1 full bath (2nd floor); Total: 2 full baths
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: Built-in features
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $544/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 12.8% vs local median 6.3% in Schenectady — 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 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: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,456/mo this rent would consume 65% of the median local household income ($63k/yr) (locally 1016% 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $78k; list at $200k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.73% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.31%
• DSCR: 2.04
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $332,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1182-1184 Glenwood Blvd	0.23mi	5/2.0	2,544 (-7%)	2mo	$277,600	$109	77
1106 Parkwood Blvd	0.36mi	6/2.0 (+1)	2,582 (-5%)	8mo	$315,000	$122	63
1165 Glenwood Blvd	0.25mi	6/2.0 (+1)	2,508 (-8%)	9mo	$285,000	$114	63
1111 Parkwood Blvd	0.34mi	6/2.0 (+1)	2,532 (-7%)	6mo	$250,000	$99	62
1491 Rugby Rd	0.50mi	5/2.0	2,472 (-9%)	8mo	$270,000	$109	55
1664 Avenue A	0.61mi	6/3.0 (+1)	2,694 (-1%)	10mo	$350,000	$130	52
1054 Park Ave	0.60mi	6/2.0 (+1)	3,008 (+10%)	2mo	$260,000	$86	48
737 Mason St	0.65mi	6/2.0 (+1)	2,544 (-7%)	9mo	$350,000	$138	46
1610 Avenue A	0.60mi	6/3.0 (+1)	2,442 (-10%)	5mo	$268,000	$110	42
1708 Avenue A	0.64mi	6/2.0 (+1)	2,390 (-12%)	4mo	$320,000	$134	41
1755 Avenue B	0.62mi	6/2.0 (+1)	2,400 (-12%)	6mo	$325,000	$135	41
1508 Union St	0.67mi	6/4.0 (+1)	2,886 (+6%)	6mo	$393,000	$136	41

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $37,065
• Equity at exit: $29,806

10-year hold

• IRR: 25.0%
• Equity multiple: 3.19×
• Total profit: $122,303
• Equity at exit: $17,284

Cash invested: $55,972 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 79
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,456 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$511 /mo · $6,137/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$726
• Net cashflow: $1,087

Break-even live

Break-even rent $2,080

Max offer price $199,900

Occupancy floor 64%

Sensitivity live

Price	-10% $1,200	-5% $1,144	+0% $1,087	+5% $1,031	+10% $974
Rent	-10% $814	-5% $951	+0% $1,087	+5% $1,224	+10% $1,360
Rate	-1.0pp $1,188	-0.5pp $1,138	base $1,087	+0.5pp $1,035	+1.0pp $983

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,845
1× unit	2	1	$1,611
Total (2 units)			$3,456

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	45d	1	0.53mi

Listing history 3 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   listed $199,900 Active
3. 2000-08-04
   soldstatus $78,500

ⓘ 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: $6,137 · $511/mo
• Projected year-2 tax: $6,137 · $511/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 ≥95°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: $41,472
• − Mortgage interest: −$11,198
• − Property taxes: −$6,137
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,318
• − Management: −$3,318
• − Depreciation: −$5,815
• Taxable income: $10,687
• Est. tax owed @ 24.0%: −$2,565
• After-tax cash flow: $10,482/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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

+154.6% since first listed

3 events — show timeline

• 2026-04-28 Pending — Global MLS
• 2026-04-22 Listed $199,900 Global MLS
• 2000-08-04 Sold (Public Records) $78,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $6,137 · +6.1% YoY. Source: county tax records.