147 Clinton Ave · Albany, NY 12210

$125,000

8 bd · 3.0 ba · 3,234 sqft · MultiFamily public records · 106 Days on market

Built 1873 2,613 sqft lot $39/sqft · 64% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Multi-family units

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

Listing remarks MLS

Three-family property offering strong upside potential for investors or rehab specialists. Once the work is done, generate ~$50,000 gross income per year. This building is in need of a full gut renovation and is being sold as-is. No interior access will be provided--drive-by only. Ideal for experienced buyers looking to reposition or redevelop a multi-unit asset in a convenient downtown Albany location close to schools, public transportation, and major routes. Bring your vision and unlock the potential. CASH ONLY. NO INTERIOR ACCESS.

Key facts

• Close to schools
• Major routes
• Full gut renovation

Tags

• THREE-FAMILY PROPERTY
• FULL GUT RENOVATION
• DOWNTOWN ALBANY LOCATION
• CLOSE TO SCHOOLS
• PUBLIC TRANSPORTATION
• MAJOR ROUTES

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 39.3% 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.
• Market conditions: Rents rising fast (+6.9%/yr); 70 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,423/mo this rent would consume 117% of the median local household income ($56k/yr) (locally 1211% 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 $864 of loan paydown is wiped out by about $4k 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 + 6.9% rent growth), your $35k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask is 47% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $69k; list at $125k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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 1873 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.34% ✓
• Cap rate: 39.32%
• Cash-on-cash: 117.95%
• DSCR: 6.25
• GRM: 1.9

CMA / ARV

• ARV (median comp): $345,518
• List price: $125,000
• Delta: -63.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Ten Broeck St	0.22mi	8/4.0	3,276 (+1%)	13mo	$445,000	$136	73
18 Ten Broeck St	0.20mi	8/4.0	3,150 (-3%)	18mo	$585,000	$186	67
21 2nd St	0.14mi	8/—	3,630 (+12%)	16mo	$85,000	$23	60
151 Lark St	0.38mi	7/3.0 (-1)	2,850 (-12%)	18mo	$55,000	$19	43

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 · 6.86% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.31×
• Total profit: $220,795
• Equity at exit: $18,638

10-year hold

• IRR: —
• Equity multiple: 17.34×
• Total profit: $571,893
• Equity at exit: $10,808

Cash invested: $35,000 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $5,423 high
• Mortgage (P&I): −$656
• Tax from tax record: −$136 /mo · $1,637/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,139
• Net cashflow: $3,440

Break-even live

Break-even rent $1,068

Max offer price $125,000

Occupancy floor 32%

Sensitivity live

Price	-10% $3,511	-5% $3,475	+0% $3,440	+5% $3,405	+10% $3,369
Rent	-10% $3,012	-5% $3,226	+0% $3,440	+5% $3,654	+10% $3,869
Rate	-1.0pp $3,503	-0.5pp $3,472	base $3,440	+0.5pp $3,408	+1.0pp $3,375

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,424
Total (3 units)			$5,423

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $125,000 Active 106 DOM
2. 2026-06-18
   days on market $125,000 Active 103 DOM
3. 2026-06-17
   days on market $125,000 Active 102 DOM
4. 2026-06-16
   days on market $125,000 Active 101 DOM
5. 2026-06-15
   days on market $125,000 Active 100 DOM
6. 2026-06-14
   days on market $125,000 Active 98 DOM
7. 2026-06-10
   days on market $125,000 Active 95 DOM
8. 2026-06-08
   days on market $125,000 Active 93 DOM
9. 2026-06-07
   days on market $125,000 Active 92 DOM
10. 2026-06-03
    days on market $125,000 Active 88 DOM
11. 2026-06-02
    days on market $125,000 Active 87 DOM
12. 2026-06-01
    days on market $125,000 Active 86 DOM
13. 2026-05-31
    days on market $125,000 Active 85 DOM
14. 2026-05-31
    days on market $125,000 Active 84 DOM
15. 2026-04-07
    status Active 539-char remark

    Show marketing remark (539 chars)

    Three-family property offering strong upside potential for investors or rehab specialists. Once the work is done, generate ~$50,000 gross income per year. This building is in need of a full gut renovation and is being sold as-is. No interior access will be provided--drive-by only. Ideal for experienced buyers looking to reposition or redevelop a multi-unit asset in a convenient downtown Albany location close to schools, public transportation, and major routes. Bring your vision and unlock the potential. CASH ONLY. NO INTERIOR ACCESS.

16. 2026-04-07
    price $125,000 539-char remark

    Show marketing remark (539 chars)

    Three-family property offering strong upside potential for investors or rehab specialists. Once the work is done, generate ~$50,000 gross income per year. This building is in need of a full gut renovation and is being sold as-is. No interior access will be provided--drive-by only. Ideal for experienced buyers looking to reposition or redevelop a multi-unit asset in a convenient downtown Albany location close to schools, public transportation, and major routes. Bring your vision and unlock the potential. CASH ONLY. NO INTERIOR ACCESS.

17. 2026-01-16
    status Pending 539-char remark

    Show marketing remark (539 chars)

    Three-family property offering strong upside potential for investors or rehab specialists. Once the work is done, generate ~$50,000 gross income per year. This building is in need of a full gut renovation and is being sold as-is. No interior access will be provided--drive-by only. Ideal for experienced buyers looking to reposition or redevelop a multi-unit asset in a convenient downtown Albany location close to schools, public transportation, and major routes. Bring your vision and unlock the potential. CASH ONLY. NO INTERIOR ACCESS.

18. 2025-12-16
    listed $85,000 Active 539-char remark

    Show marketing remark (539 chars)

    Three-family property offering strong upside potential for investors or rehab specialists. Once the work is done, generate ~$50,000 gross income per year. This building is in need of a full gut renovation and is being sold as-is. No interior access will be provided--drive-by only. Ideal for experienced buyers looking to reposition or redevelop a multi-unit asset in a convenient downtown Albany location close to schools, public transportation, and major routes. Bring your vision and unlock the potential. CASH ONLY. NO INTERIOR ACCESS.

19. 2002-05-10
    soldstatus $69,000
20. 2002-04-26
    soldstatus $99,900 238-char remark

    Show marketing remark (238 chars)

    ATTENTION INVESTORS!!! NEED SOME EXTRA CASH? ASSUME THE MORTGAGE ON THIS PROPERTY AND THE OWNER WILL GIVE YOU $30,000 CASH! INCOME FROM PROPERTY WILL COVER MORTGAGE AND YOU GET $30K TO SPEND AS YOU LIKE! CALL 724-0336! Very Good Condition

21. 2001-11-15
    historical 238-char remark

    Show marketing remark (238 chars)

    ATTENTION INVESTORS!!! NEED SOME EXTRA CASH? ASSUME THE MORTGAGE ON THIS PROPERTY AND THE OWNER WILL GIVE YOU $30,000 CASH! INCOME FROM PROPERTY WILL COVER MORTGAGE AND YOU GET $30K TO SPEND AS YOU LIKE! CALL 724-0336! Very Good Condition

22. 2001-10-01
    listed $99,900 238-char remark

    Show marketing remark (238 chars)

    ATTENTION INVESTORS!!! NEED SOME EXTRA CASH? ASSUME THE MORTGAGE ON THIS PROPERTY AND THE OWNER WILL GIVE YOU $30,000 CASH! INCOME FROM PROPERTY WILL COVER MORTGAGE AND YOU GET $30K TO SPEND AS YOU LIKE! CALL 724-0336! Very Good Condition

ⓘ 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: $1,637 · $136/mo
• Projected year-2 tax: $1,875 · $156/mo
• Expected delta: +$238/yr (+$20/mo · 14.5%)

ⓘ 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 · 17 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: $65,076
• − Mortgage interest: −$7,002
• − Property taxes: −$1,637
• − Insurance: −$625
• − Repairs & maintenance: −$5,206
• − Management: −$5,206
• − Depreciation: −$3,636
• Taxable income: $41,763
• Est. tax owed @ 24.0%: −$10,023
• After-tax cash flow: $31,258/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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+25.1% since first listed

8 events — show timeline

• 2026-04-07 Relisted — Global MLS
• 2026-04-07 Price Changed $125,000 Global MLS
• 2026-01-16 Pending — Global MLS
• 2025-12-16 Listed $85,000 Global MLS
• 2002-05-10 Sold (Public Records) $69,000 Public Records
• 2002-04-26 Sold (MLS) $99,900 Global MLS
• 2001-11-15 Listing Removed — Global MLS
• 2001-10-01 Listed $99,900 Global MLS

Property tax history

+5.3%/yr

Latest (2025): $1,637 · -4.6% YoY. Source: county tax records.