17 N Lake Ave · Albany, NY 12203

$190,000

4 bd · 2.0 ba · 1,888 sqft · MultiFamily public records · 144 Days on market

Built 1900 2,178 sqft lot Est $200k · 5% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• 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 MLS

Sold before print

Key facts

• Downstairs hood
• Stackable in foyer
• Refrigerator

Tags

• ON THE BUSLINE
• NEW OVEN UPSTAIRS
• DOWNSTAIRS HOOD
• REFRIGERATOR
• STACKABLE IN FOYER
• WINDOWS DOWNSTAIRS APARTMENT

Property features AI

Finance

• Other: Lot size approximately 0.05 acre
• Financial info: Two-unit property; Tenants are responsible for heat, cable TV, and electricity
• HOA & community: No HOA information provided

Exterior

• Parking: One parking space
• Security: No security features provided
• Utilities: 150 amp electric service; Public water; Public sewer; Cable connected
• Home design: Duplex; Entry level information not provided; Facing direction not provided
• Construction: Built with aluminum and vinyl siding; Brick/mortar foundation; Rubber roof
• Exterior features: Front porch; Back yard with fencing (fenced)

Interior

• Kitchen: No appliance details provided
• Bedrooms: Two bedrooms in Unit 1; Two bedrooms in Unit 2
• Flooring: Carpet; Hardwood; Linoleum
• Bathrooms: Two full bathrooms total (one full bath on first level, one full bath on second level); Each unit has one full bath
• Heating & cooling: Electric heating; Forced air; Natural gas
• Interior features: Storm doors; Storm windows and double-pane windows; Curtain rods
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $576/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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 (+1.9%/yr); 124 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago; this cycle's ask has dropped $75k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $190k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 13.57%
• Cash-on-cash: 26.00%
• DSCR: 2.16
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $200,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 West St	0.19mi	4/2.0	1,760 (-7%)	6mo	$187,000	$106	74
425 Sheridan Ave	0.33mi	5/2.0 (+1)	1,990 (+5%)	7mo	$91,200	$46	64
478 3rd St	0.56mi	4/2.0	1,852 (-2%)	8mo	$119,000	$64	64
685 Clinton Ave	0.45mi	4/2.0	2,032 (+8%)	6mo	$190,000	$94	61
246 1st St	0.64mi	4/2.0	1,860 (-2%)	9mo	$185,000	$99	60
376 1st St	0.44mi	4/2.0	1,680 (-11%)	10mo	$100,000	$60	53
685 Myrtle Ave	0.57mi	4/2.0	2,128 (+13%)	5mo	$310,000	$146	48
531 Hamilton St	0.44mi	5/3.0 (+1)	2,112 (+12%)	5mo	$284,750	$135	47
528 Madison Ave	0.53mi	5/4.0 (+1)	1,994 (+6%)	8mo	$330,000	$165	47
179 Lancaster St	0.72mi	3/3.0 (-1)	2,016 (+7%)	5mo	$200,000	$99	42
676 Providence St	0.75mi	5/2.0 (+1)	2,118 (+12%)	2mo	$250,000	$118	38
320 1st St	0.51mi	5/3.0 (+1)	1,638 (-13%)	10mo	$213,000	$130	37

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: 18.4%
• Equity multiple: 1.73×
• Total profit: $38,986
• Equity at exit: $28,330

10-year hold

• IRR: 25.9%
• Equity multiple: 3.14×
• Total profit: $113,918
• Equity at exit: $16,428

Cash invested: $53,200 (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: 124
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,288 high
• Mortgage (P&I): −$996
• Tax from tax record: −$369 /mo · $4,433/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $1,153

Break-even live

Break-even rent $1,829

Max offer price $190,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,288
Total (2 units)			$3,288

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	0.06mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	14d	1	0.11mi
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	43d	1	0.18mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	43d	1	0.19mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	43d	1	0.32mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	43d	1	0.32mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	0.66mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	0.66mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	14d	1	0.72mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	23d	1	0.76mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	43d	1	0.76mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	23d	1	0.80mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	43d	1	0.90mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.94mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	43d	1	0.98mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	43d	1	1.03mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	23d	1	1.04mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	14d	1	1.14mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	43d	1	1.15mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	43d	1	1.20mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	44d	1	1.32mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	43d	1	1.46mi

Listing history 28 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   status Active
3. 2026-04-23
   price $190,000
4. 2026-02-06
   historical
5. 2026-02-02
   price $199,950
6. 2025-12-23
   price $219,000
7. 2025-11-28
   price $229,000
8. 2025-10-10
   price $240,000
9. 2025-10-02
   price $255,000
10. 2025-09-22
    listed $265,000 Active
11. 2022-12-01
    listed $164,999 17-char remark

    Show marketing remark (17 chars)

    Sold before print

12. 2022-12-01
    historical 17-char remark

    Show marketing remark (17 chars)

    Sold before print

13. 2017-06-30
    soldstatus $100,000
14. 2017-06-27
    soldstatus $100,000 Closed (Final Sale) 365-char remark

    Show marketing remark (365 chars)

    Historic 2 family across from the imposing new SUNY Engineering Building (Schuyler bldg) Separate utilities. Wood and laminate floors. Roof new in'08, circuit breakers. One washer in 1st floor hallway. Furnace for first floor in basement. Second FL renovated '08-'09. Dwn. stairs furnace '04. Short walk to St Rose; 2 blocks to Washington Park. Very Good Condition

15. 2017-04-27
    status Pend (Under Cntr) 365-char remark

    Show marketing remark (365 chars)

    Historic 2 family across from the imposing new SUNY Engineering Building (Schuyler bldg) Separate utilities. Wood and laminate floors. Roof new in'08, circuit breakers. One washer in 1st floor hallway. Furnace for first floor in basement. Second FL renovated '08-'09. Dwn. stairs furnace '04. Short walk to St Rose; 2 blocks to Washington Park. Very Good Condition

16. 2017-03-16
    status Active 365-char remark

    Show marketing remark (365 chars)

    Historic 2 family across from the imposing new SUNY Engineering Building (Schuyler bldg) Separate utilities. Wood and laminate floors. Roof new in'08, circuit breakers. One washer in 1st floor hallway. Furnace for first floor in basement. Second FL renovated '08-'09. Dwn. stairs furnace '04. Short walk to St Rose; 2 blocks to Washington Park. Very Good Condition

17. 2017-03-13
    status Pend (Under Cntr) 365-char remark

    Show marketing remark (365 chars)

    Historic 2 family across from the imposing new SUNY Engineering Building (Schuyler bldg) Separate utilities. Wood and laminate floors. Roof new in'08, circuit breakers. One washer in 1st floor hallway. Furnace for first floor in basement. Second FL renovated '08-'09. Dwn. stairs furnace '04. Short walk to St Rose; 2 blocks to Washington Park. Very Good Condition

18. 2017-01-29
    listed $109,900 New 365-char remark

    Show marketing remark (365 chars)

    Historic 2 family across from the imposing new SUNY Engineering Building (Schuyler bldg) Separate utilities. Wood and laminate floors. Roof new in'08, circuit breakers. One washer in 1st floor hallway. Furnace for first floor in basement. Second FL renovated '08-'09. Dwn. stairs furnace '04. Short walk to St Rose; 2 blocks to Washington Park. Very Good Condition

19. 2016-10-01
    historical
20. 2016-07-11
    price $105,000
21. 2016-04-08
    listed $109,900 New
22. 2015-06-09
    historical
23. 2015-01-08
    listed $104,900
24. 2008-11-25
    soldstatus $95,000
25. 2008-11-15
    soldstatus $95,000
26. 2008-07-15
    historical
27. 2008-04-03
    listed $115,900
28. 2005-01-21
    soldstatus $22,500

ⓘ 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: $4,433 · $369/mo
• Projected year-2 tax: $4,433 · $369/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 · 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: $39,456
• − Mortgage interest: −$10,643
• − Property taxes: −$4,433
• − Insurance: −$950
• − Repairs & maintenance: −$3,156
• − Management: −$3,156
• − Depreciation: −$5,527
• Taxable income: $11,589
• Est. tax owed @ 24.0%: −$2,781
• After-tax cash flow: $11,049/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): 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

+744.4% since first listed

28 events — show timeline

• 2026-05-01 Pending — Global MLS
• 2026-04-23 Relisted — Global MLS
• 2026-04-23 Price Changed $190,000 Global MLS
• 2026-02-06 Listing Removed — Global MLS
• 2026-02-02 Price Changed $199,950 Global MLS
• 2025-12-23 Price Changed $219,000 Global MLS
• 2025-11-28 Price Changed $229,000 Global MLS
• 2025-10-10 Price Changed $240,000 Global MLS
• 2025-10-02 Price Changed $255,000 Global MLS
• 2025-09-22 Listed $265,000 Global MLS
• 2022-12-01 Listing Removed — Global MLS
• 2022-12-01 Listed $164,999 Global MLS
• 2017-06-30 Sold (Public Records) $100,000 Public Records
• 2017-06-27 Sold (MLS) $100,000 Global MLS
• 2017-04-27 Pending — Global MLS
• 2017-03-16 Relisted — Global MLS
• 2017-03-13 Pending — Global MLS
• 2017-01-29 Listed $109,900 Global MLS
• 2016-10-01 Listing Removed — Global MLS
• 2016-07-11 Price Changed $105,000 Global MLS
• 2016-04-08 Listed $109,900 Global MLS
• 2015-06-09 Listing Removed — Global MLS
• 2015-01-08 Listed $104,900 Global MLS
• 2008-11-25 Sold (Public Records) $95,000 Public Records
• 2008-11-15 Sold (MLS) $95,000 Global MLS
• 2008-07-15 Listing Removed — Global MLS
• 2008-04-03 Listed $115,900 Global MLS
• 2005-01-21 Sold (Public Records) $22,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $4,433 · +4.2% YoY. Source: county tax records.