169 State Route 146 · Albany, NY 12009

$349,000

4 bd · 2.0 ba · 1,742 sqft · SingleFamily · 14 Days on market

Built 1938 0.58 ac lot Est $449k · 22% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.2/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks MLS

Overflowing with charm this fabulous four bedroom two full bath over-sized Cape Cod is a must see! You will fall in love with the warmth of this home, from the gorgeous breezeway, the natural woodwork, and hardwood floors throughout. The kitchen and both bathrooms have been tastefully updated, the perfect combination of old and new. The finished basement creates even more living space. The outdoor spaces include a large patio, an over-sized yard with a very large fenced in space. The perfect home for your family in the Guilderland school district. Excellent Condition

Key facts

• 0.58 acre lot
• 2 garage spots
• Built 1938

Property features AI

Exterior

• Parking: Attached garage with 2 garage spaces; Total parking for 4 vehicles; Garage workshop; Garage door opener
• Utilities: Public water; Septic tank; 150 Amp electric service; Cable connected
• Home design: Single family residence; Updated/remodeled; Level, cleared lot; Main road frontage approximately 103 feet
• Construction: Vinyl siding; Block foundation; Slate and asphalt roof
• Exterior features: Patio; Garden; Exterior lighting; Paved driveway; Back yard fencing (chain link, fenced); Shed(s)

Interior

• Kitchen: Oven; Microwave; Refrigerator; Dishwasher; Pantry
• Bedrooms: Primary bedroom (first floor); Two additional bedrooms on second floor; Additional bedroom on first floor
• Flooring: Tile; Hardwood
• Bathrooms: Two full bathrooms (one on first floor, one on second floor)
• Heating & cooling: Baseboard heating; Natural gas heating; Steam heating
• Interior features: High-speed internet; Built-in features; Ceramic tile bath; Chair rail; Finished full basement
• Laundry & utility: Washer; Dryer; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-476 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (29.8% below list).
• Recommended offer: $245k (29.8% below list) — sets the bar for 1% rule.

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: Lynnwood Elementary School (math 62% / reading 72%, grade B+, #525 of 2,108 statewide, top 27%, 438 students, 12% 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: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $270k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $245,000 (29.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.70% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.85%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $449,436
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131/147 State Route 146	0.16mi	3/2.0 (-1)	1,525 (-12%)	10mo	$440,000	$289	58
6458 Vosburgh Rd	0.57mi	4/1.5	1,818 (+4%)	10mo	$450,000	$248	56
241 Concord Hill Dr	0.28mi	4/2.5	1,952 (+12%)	11mo	$560,300	$287	56
152 Okara Dr	0.59mi	3/2.0 (-1)	1,809 (+4%)	7mo	$439,900	$243	55
114 Okara Dr	0.66mi	4/2.5	1,857 (+7%)	9mo	$479,900	$258	48

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: 20.1%
• Equity multiple: 2.63×
• Total profit: $159,772
• Equity at exit: $314,407

10-year hold

• IRR: 18.4%
• Equity multiple: 6.06×
• Total profit: $494,434
• Equity at exit: $678,030

Cash invested: $97,720 (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 12009

• Home prices YoY: 7.0%
• Active inventory: 48
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,450 medium
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-476

Break-even live

Break-even rent $3,053

Max offer price $280,070

Occupancy floor —

Sensitivity live

Price	-10% $-235	-5% $-356	+0% $-476	+5% $-597	+10% $-718
Rent	-10% $-670	-5% $-573	+0% $-476	+5% $-380	+10% $-283
Rate	-1.0pp $-301	-0.5pp $-388	base $-476	+0.5pp $-567	+1.0pp $-659

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 W Creek Ln Bldg 8 Altamont, NY	3.0	2.0	1440	$2,450	$1.70	15d	1	0.69mi

Listing history 5 events

1. 2026-04-30
   status Pending
2. 2026-04-16
   listed $349,000 Active
3. 2020-11-05
   soldstatus $269,900 Closed (Final Sale) 577-char remark

   Show marketing remark (577 chars)

   Overflowing with charm this fabulous four bedroom two full bath over-sized Cape Cod is a must see! You will fall in love with the warmth of this home, from the gorgeous breezeway, the natural woodwork, and hardwood floors throughout. The kitchen and both bathrooms have been tastefully updated, the perfect combination of old and new. The finished basement creates even more living space. The outdoor spaces include a large patio, an over-sized yard with a very large fenced in space. The perfect home for your family in the Guilderland school district. Excellent Condition

4. 2020-08-24
   status Pend (Under Cntr) 577-char remark

   Show marketing remark (577 chars)

   Overflowing with charm this fabulous four bedroom two full bath over-sized Cape Cod is a must see! You will fall in love with the warmth of this home, from the gorgeous breezeway, the natural woodwork, and hardwood floors throughout. The kitchen and both bathrooms have been tastefully updated, the perfect combination of old and new. The finished basement creates even more living space. The outdoor spaces include a large patio, an over-sized yard with a very large fenced in space. The perfect home for your family in the Guilderland school district. Excellent Condition

5. 2020-08-20
   listed $269,900 New 577-char remark

   Show marketing remark (577 chars)

   Overflowing with charm this fabulous four bedroom two full bath over-sized Cape Cod is a must see! You will fall in love with the warmth of this home, from the gorgeous breezeway, the natural woodwork, and hardwood floors throughout. The kitchen and both bathrooms have been tastefully updated, the perfect combination of old and new. The finished basement creates even more living space. The outdoor spaces include a large patio, an over-sized yard with a very large fenced in space. The perfect home for your family in the Guilderland school district. Excellent Condition

ⓘ 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: $29,400
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − Depreciation: −$10,153
• Taxable loss: −$11,986
• Est. tax savings @ 24.0%: +$2,877
• After-tax cash flow: $-2,840/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

• City population: 116,921
• Population (ZIP): 8,068

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 (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 8% Iranian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Korean 1%

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: ▲ 18.85%
• Current HPI: 290.1144
• 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

Price history

+29.3% since first listed

5 events — show timeline

• 2026-04-30 Pending — Global MLS
• 2026-04-16 Listed $349,000 Global MLS
• 2020-11-05 Sold (MLS) $269,900 Global MLS
• 2020-08-24 Pending — Global MLS
• 2020-08-20 Listed $269,900 Global MLS