500 Summit Ave · Schenectady, NY 12307

$139,000

2 bd · 1.5 ba · 1,200 sqft · Land · 143 Days on market

Built 2026 Excellent condition 3,049 sqft lot $116/sqft · 19% below area Est $171k · 19% under

---

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 +22.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Condition / age +5.0/5.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0

Listing remarks

This newly constructed townhome, offered through the Affordable Homeownership Opportunity Program (AHOP), provides a modern and affordable path to homeownership for moderate-income first-time buyers. Designed with contemporary finishes and quality craftsmanship, the home offers both comfort and style at a budget-conscious price making it an ideal choice for those seeking long-term stability and equity in a growing community. Let us help you get into your dream home! This home is currently under construction and slated to be finished by the end of the Month (April). Pictures are what the home will look like.

Key facts

• 2 parking spots
• Built 2026
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath land listed at $139k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.6% 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: Van Corlaer Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 436 students, 78% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Market conditions: 70 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 62d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $1,499/mo this rent would consume 54% of the median local household income ($33k/yr) (locally 26% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.08% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $171,489
• List price: $139,000
• Delta: -18.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
750 Hamilton St	0.18mi	3/1.5 (+1)	1,239 (+3%)	1mo	$157,500	$127	80
1214 5th Ave	0.67mi	3/2.0 (+1)	1,168 (-3%)	0mo	$130,000	$111	57
2137 Campbell Ave	1.34mi	2/1.5	1,112 (-7%)	0mo	$259,000	$233	53
1741 Avenue H	1.18mi	3/1.0 (+1)	1,147 (-4%)	1mo	$185,000	$161	50
1213 10th Ave	1.05mi	3/1.5 (+1)	1,280 (+7%)	0mo	$212,900	$166	48
1892 Broad St	1.24mi	3/1.0 (+1)	1,305 (+9%)	1mo	$220,000	$169	42
1341 7th Ave	0.87mi	3/2.0 (+1)	1,056 (-12%)	0mo	$185,500	$176	38
1355 Dewitt St	0.87mi	3/1.0 (+1)	1,044 (-13%)	1mo	$225,500	$216	35
814 Rankin Ave	1.27mi	3/1.5 (+1)	1,392 (+16%)	1mo	$220,000	$158	34
848 Hazelwood Ave	1.05mi	3/1.0 (+1)	950 (-21%)	1mo	$246,500	$259	32
318 Linden St	1.44mi	3/1.0 (+1)	1,411 (+18%)	1mo	$200,000	$142	32
1825 Van Cortland St	1.42mi	3/2.0 (+1)	1,404 (+17%)	1mo	$334,000	$238	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 3.31×
• Total profit: $89,955
• Equity at exit: $125,222

10-year hold

• IRR: 25.4%
• Equity multiple: 7.52×
• Total profit: $253,757
• Equity at exit: $270,046

Cash invested: $38,920 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 70
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $223

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 80%

Sensitivity live

Price	-10% $319	-5% $271	+0% $223	+5% $175	+10% $127
Rent	-10% $105	-5% $164	+0% $223	+5% $283	+10% $342
Rate	-1.0pp $293	-0.5pp $259	base $223	+0.5pp $187	+1.0pp $151

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: $34,750
• Closing costs: $4,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 Grant Ave Schenectady, NY	3.0	1.0	1100	$1,250	$1.14	6d	1	0.29mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	119d	1	0.30mi
242 Broadway Unit 304 Schenectady, NY	1.0	1.0	1067	$1,675	$1.57	62d	1	0.30mi
833 Grant Ave Schenectady, NY	3.0	1.0	1100	$1,600	$1.45	6d	1	0.35mi
833 Grant Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	62d	1	0.35mi
635 Crane St Schenectady, NY	2.0	1.0	1200	$1,200	$1.00	62d	1	0.43mi
192 Erie Blvd Unit 707 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	62d	1	0.44mi
192 Erie Blvd Apt 408 Schenectady, NY	1.0	1.0	902	$1,695	$1.88	0d	1	0.44mi
192 Erie Blvd Apt 502 Schenectady, NY	1.0	1.0	915	$1,495	$1.63	110d	1	0.44mi
192 Erie Blvd Unit 508 Schenectady, NY	1.0	1.0	932	$1,715	$1.84	139d	1	0.44mi
192 Erie Blvd Apt 405 Schenectady, NY	1.0	1.0	926	$1,595	$1.72	0d	1	0.44mi
192 Erie Blvd Apt 706 Schenectady, NY	1.0	1.0	889	$1,600	$1.80	119d	1	0.44mi
192 Erie Blvd Apt 607 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	139d	1	0.44mi
192 Erie Blvd Apt 401 Schenectady, NY	1.0	1.0	819	$1,595	$1.95	139d	1	0.44mi
192 Erie Blvd Schenectady, NY	1.0	1.0	895	$1,595	$1.78	117d	1	0.44mi
803 Craig St Schenectady, NY	3.0	1.0	1045	$1,500	$1.44	62d	1	0.44mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	114d	1	0.45mi
1 Chestnut St Schenectady, NY	2.0	1.0	1203	$1,600	$1.33	5d	1	0.48mi
1 Chestnut St Schenectady, NY	2.0	1.0	1203	$1,600	$1.33	62d	1	0.48mi
225 State St Schenectady, NY	1.0	1.0	900	$1,295	$1.44	0d	1	0.57mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$867	$0.84	0d	6	0.57mi
922 State St Schenectady, NY	2.0	1.0	1000	$1,350	$1.35	6d	2	0.57mi
1066 Howard St Schenectady, NY	3.0	1.0	1108	$1,600	$1.44	62d	1	0.60mi
111 Liberty St Schenectady, NY	2.0	1.0	1393	$2,200	$1.58	0d	2	0.64mi
110 Union St Schenectady, NY	2.0	1.0	750	$1,340	$1.79	0d	1	0.66mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	0d	1	0.66mi
332 Duane Ave Schenectady, NY	3.0	1.0	1188	$1,550	$1.30	6d	1	0.69mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	119d	1	0.70mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,200	$1.30	6d	1	0.75mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,500	$1.63	114d	1	0.75mi
1075 Pleasant St Schenectady, NY	3.0	1.0	1500	$1,500	$1.00	0d	1	0.75mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	119d	1	0.76mi
1059 Barrett St Unit 2 Schenectady, NY	1.0	1.0	1100	$1,525	$1.39	62d	1	0.79mi
5 Front St Unit 8 Schenectady, NY	1.0	1.5	800	$1,500	$1.88	0d	1	0.80mi
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	110d	1	0.81mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	139d	1	0.82mi
126 N College St #2 Schenectady, NY	1.0	1.0	780	$1,325	$1.70	62d	1	0.85mi
23 Monroe St Unit 23 2R Schenectady, NY	2.0	1.0	800	$1,325	$1.66	110d	1	0.92mi
1617 Campbell Ave Unit 2 Schenectady, NY	1.0	1.0	941	$1,300	$1.38	5d	1	0.93mi
1320 8th Ave Schenectady, NY	2.0	1.0	924	$1,400	$1.52	62d	1	0.93mi

Property features AI

Exterior

• Parking: Off-street paved driveway parking for 2 vehicles
• Security: Carbon monoxide detectorsFire alarm
• Utilities: Public waterPublic sewerCable available
• Home design: TownhouseNew construction
• Construction: Vinyl siding with drywall interiorConcrete perimeter foundation and slabPermanent foundation
• Exterior features: Shingle roofPaved drivewayDrive-paved exteriorCleared and landscaped lot

Interior

• Kitchen: RangeRange hoodDishwasherENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second level
• Flooring: CarpetLinoleum
• Bathrooms: One full bathroom on the second levelOne half bathroom on the first level
• Heating & cooling: Ductless heating and cooling (heat pump)Electric heating available
• Interior features: High-speed internet availableRadon mitigation systemInstant hot waterTankless water heaterENERGY STAR qualified appliances and windowsLow emissivity windows with screens, blinds, and egress window
• Laundry & utility: Washer hookupElectric dryer hookupLaundry closet on upper level

Listing history 50 events

1. 2026-09-24
   days on market $139,000 Active 143 DOM
2. 2026-09-23
   days on market $139,000 Active 142 DOM
3. 2026-09-22
   days on market $139,000 Active 141 DOM
4. 2026-09-21
   days on market $139,000 Active 140 DOM
5. 2026-09-20
   days on market $139,000 Active 139 DOM
6. 2026-09-19
   days on market $139,000 Active 138 DOM
7. 2026-09-18
   days on market $139,000 Active 137 DOM
8. 2026-09-17
   days on market $139,000 Active 136 DOM
9. 2026-09-16
   days on market $139,000 Active 135 DOM
10. 2026-09-15
    days on market $139,000 Active 134 DOM
11. 2026-09-14
    days on market $139,000 Active 133 DOM
12. 2026-09-13
    days on market $139,000 Active 132 DOM
13. 2026-09-12
    days on market $139,000 Active 131 DOM
14. 2026-09-11
    days on market $139,000 Active 130 DOM
15. 2026-09-05
    days on market $139,000 Active 124 DOM
16. 2026-09-04
    days on market $139,000 Active 123 DOM
17. 2026-09-03
    days on market $139,000 Active 122 DOM
18. 2026-08-31
    days on market $139,000 Active 119 DOM
19. 2026-08-30
    days on market $139,000 Active 118 DOM
20. 2026-08-29
    days on market $139,000 Active 117 DOM
21. 2026-08-28
    days on market $139,000 Active 116 DOM
22. 2026-08-27
    days on market $139,000 Active 115 DOM
23. 2026-08-25
    days on market $139,000 Active 113 DOM
24. 2026-08-24
    days on market $139,000 Active 112 DOM
25. 2026-08-23
    days on market $139,000 Active 111 DOM
26. 2026-08-22
    days on market $139,000 Active 110 DOM
27. 2026-08-21
    days on market $139,000 Active 109 DOM
28. 2026-08-20
    days on market $139,000 Active 108 DOM
29. 2026-08-19
    days on market $139,000 Active 107 DOM
30. 2026-08-18
    days on market $139,000 Active 106 DOM
31. 2026-08-17
    days on market $139,000 Active 105 DOM
32. 2026-08-16
    days on market $139,000 Active 104 DOM
33. 2026-08-15
    days on market $139,000 Active 103 DOM
34. 2026-08-14
    days on market $139,000 Active 102 DOM
35. 2026-08-13
    days on market $139,000 Active 101 DOM
36. 2026-08-12
    days on market $139,000 Active 100 DOM
37. 2026-08-11
    days on market $139,000 Active 99 DOM
38. 2026-08-10
    days on market $139,000 Active 98 DOM
39. 2026-08-09
    days on market $139,000 Active 97 DOM
40. 2026-08-08
    days on market $139,000 Active 96 DOM
41. 2026-08-07
    days on market $139,000 Active 95 DOM
42. 2026-08-06
    days on market $139,000 Active 94 DOM
43. 2026-08-05
    days on market $139,000 Active 93 DOM
44. 2026-08-04
    days on market $139,000 Active 92 DOM
45. 2026-08-03
    days on market $139,000 Active 91 DOM
46. 2026-07-31
    days on market $139,000 Active 88 DOM
47. 2026-07-30
    days on market $139,000 Active 87 DOM
48. 2026-07-29
    days on market $139,000 Active 86 DOM
49. 2026-07-27
    days on market $139,000 Active 84 DOM
50. 2026-07-25
    days on market $139,000 Active 82 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,985
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$4,044
• Taxable income: $498
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $2,561/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.

Condition & rehab AI · 1 photo

Excellent 100/100 None rehab

This newly constructed townhome is in excellent condition with no visible repairs or maintenance needed. It is ideal for first-time buyers seeking a modern and affordable path to homeownership.

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Van Corlaer Elementary School F NY #1,846/2,108 Nat'l #30,133/41,679 Middle Mont Pleasant Middle School F NY #704/729 Nat'l #12,693/14,009 High Schenectady High School A NY #446/1,100 Nat'l #889/17,239

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

B Composite livability gradescore 78/100

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 · 155,046 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 7,977
• Household income: $33,191
• Rent vs Own: 72.9% rent · 27.1% own
• Severe rent burden: 26% of renters

---

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

Property features AI

Exterior

• Parking: Off-street paved driveway parking for 2 vehicles
• Security: Carbon monoxide detectorsFire alarm
• Utilities: Public waterPublic sewerCable available
• Home design: TownhouseNew construction
• Construction: Vinyl siding with drywall interiorConcrete perimeter foundation and slabPermanent foundation
• Exterior features: Shingle roofPaved drivewayDrive-paved exteriorCleared and landscaped lot

Interior

• Kitchen: RangeRange hoodDishwasherENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second level
• Flooring: CarpetLinoleum
• Bathrooms: One full bathroom on the second levelOne half bathroom on the first level
• Heating & cooling: Ductless heating and cooling (heat pump)Electric heating available
• Interior features: High-speed internet availableRadon mitigation systemInstant hot waterTankless water heaterENERGY STAR qualified appliances and windowsLow emissivity windows with screens, blinds, and egress window
• Laundry & utility: Washer hookupElectric dryer hookupLaundry closet on upper level

Price history

1 event — show timeline

• 2026-05-04 Listed $139,000 Global MLS