26 Lee St · Mechanicville, NY 12118

$257,000

4 bd · 2.0 ba · 2,150 sqft · MultiFamily public records · 20 Days on market

Built 1910 3,920 sqft lot Est $236k · 9% over

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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).

• Cash flow +21.4/30.0
• Appreciation +10.0/10.0
• DSCR +6.8/10.0
• 1% rule +6.2/10.0
• Schools +4.9/10.0
• ARV discount +3.6/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Spacious, well maintained & conveniently located two-family home – perfect for owner-occupied plus income property or rent both units. Units have full bath, formal living & dining room, country kitchen with appliances included, washer & dryer hook ups. Very Good Condition

Key facts

• Updated units
• Lots of cabinets
• Spacious kitchen

Tags

• RIVER VIEWS
• UPDATED UNITS
• FORMAL LIVING AND DINING ROOM
• LAUNDRY HOOK UP
• SPACIOUS KITCHEN
• LOTS OF CABINETS

Property features AI

Finance

• Financial info: Tenants pay hot water, heat, DSL internet and electricity

Exterior

• Security: Smoke detector(s); Closed-circuit camera(s)
• Utilities: 100 amp electric service with circuit breakers; Public water; Public sewer; Cable available
• Home design: Duplex; Entry levels include 1st and 2nd floors
• Construction: Aluminum siding; Stone exterior; Rubber roof; Slab foundation; Built as a two-unit property
• Exterior features: Rear porch; Level lot with views

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 2 bedrooms (1st floor); Unit 2: 2 bedrooms (2nd floor)
• Flooring: Vinyl; Carpet; Linoleum
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bathroom (1st floor); Unit 2: 1 full bathroom (2nd floor)
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas
• Interior features: Paddle fan; Storm door(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $257k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive. Per door: $191/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $257k).
• Recommended offer: $253k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 1.9% in Mechanicville — 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 67/100 on livability (#568 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities C-, crime D+, employment D.
• Mechanicville City School District (rural): math 57% / reading 57% proficiency, ranked #270 of 590 in NY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 144 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• This rent runs 37% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $72k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $136k; list at $257k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $253,145 (1.5% below list)

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is D 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: 1.12% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $236,500
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Green St	0.11mi	4/2.0	1,904 (-11%)	6mo	$210,000	$110	71
221 N 3rd Ave	0.54mi	5/2.0 (+1)	2,132 (-1%)	2mo	$280,000	$131	66
27 Saratoga Ave	0.59mi	3/2.0 (-1)	2,013 (-6%)	7mo	$260,000	$129	51
705 Grand St	0.53mi	5/2.0 (+1)	2,106 (-2%)	22mo	$175,000	$83	49
58 Mabbett St	0.47mi	5/3.0 (+1)	2,100 (-2%)	20mo	$287,200	$137	48
67 William St	0.51mi	5/2.0 (+1)	2,238 (+4%)	22mo	$160,000	$71	46
39 William St	0.47mi	5/2.0 (+1)	1,848 (-14%)	5mo	$200,000	$108	45

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: 28.9%
• Equity multiple: 3.28×
• Total profit: $164,412
• Equity at exit: $231,526

10-year hold

• IRR: 25.1%
• Equity multiple: 7.47×
• Total profit: $465,278
• Equity at exit: $499,294

Cash invested: $71,960 (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 12118

• Home prices YoY: 8.3%
• Active inventory: 144
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,890 high
• Mortgage (P&I): −$1,348
• Tax from tax record: −$446 /mo · $5,357/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $382

Break-even live

Break-even rent $2,407

Max offer price $257,000

Occupancy floor 82%

Sensitivity live

Price	-10% $527	-5% $455	+0% $382	+5% $309	+10% $236
Rent	-10% $154	-5% $268	+0% $382	+5% $496	+10% $610
Rate	-1.0pp $511	-0.5pp $447	base $382	+0.5pp $315	+1.0pp $248

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,890
Total (2 units)			$2,890

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: $64,250
• Closing costs: $7,710
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Battery Blvd Mechanicville, NY	3.0	2.5	1804	$3,450	$1.91	15d	1	1.48mi

Listing history 34 events

1. 2026-06-17
   status $257,000 Pending 20 DOM
2. 2026-06-16
   days on market $257,000 Active 20 DOM
3. 2026-06-15
   days on market $257,000 Active 19 DOM
4. 2026-06-14
   days on market $257,000 Active 17 DOM
5. 2026-06-13
   days on market $257,000 Active 16 DOM
6. 2026-06-10
   days on market $257,000 Active 14 DOM
7. 2026-06-09
   days on market $257,000 Active 13 DOM
8. 2026-06-08
   days on market $257,000 Active 12 DOM
9. 2026-06-07
   days on market $257,000 Active 11 DOM
10. 2026-06-05
    days on market $257,000 Active 8 DOM
11. 2026-06-03
    days on market $257,000 Active 7 DOM
12. 2026-06-02
    remarks 324-char remark
13. 2026-06-02
    days on market $257,000 Active 6 DOM
14. 2026-06-01
    days on market $257,000 Active 5 DOM
15. 2026-05-31
    days on market $257,000 Active 4 DOM
16. 2026-05-31
    remarks 254-char remark
17. 2026-05-31
    days on market $257,000 Active 3 DOM
18. 2026-05-27
    listed $257,000 Active
19. 2023-03-29
    status Pending
20. 2023-02-15
    status Pending
21. 2023-02-14
    historical
22. 2023-02-09
    listed $205,000 Active
23. 2019-05-24
    soldstatus $136,000
24. 2019-05-17
    soldstatus $136,000 Closed (Final Sale) 290-char remark

    Show marketing remark (290 chars)

    Spacious, well maintained & conveniently located two-family home – perfect for owner-occupied plus income property or rent both units. Units have full bath, formal living & dining room, country kitchen with appliances included, washer & dryer hook ups. Very Good Condition

25. 2019-03-06
    status Pend (Under Cntr) 290-char remark

    Show marketing remark (290 chars)

    Spacious, well maintained & conveniently located two-family home – perfect for owner-occupied plus income property or rent both units. Units have full bath, formal living & dining room, country kitchen with appliances included, washer & dryer hook ups. Very Good Condition

26. 2019-03-01
    listed $143,900 New 290-char remark

    Show marketing remark (290 chars)

    Spacious, well maintained & conveniently located two-family home – perfect for owner-occupied plus income property or rent both units. Units have full bath, formal living & dining room, country kitchen with appliances included, washer & dryer hook ups. Very Good Condition

27. 2019-03-01
    historical

    Show marketing remark (290 chars)

    Spacious, well maintained & conveniently located two-family home – perfect for owner-occupied plus income property or rent both units. Units have full bath, formal living & dining room, country kitchen with appliances included, washer & dryer hook ups. Very Good Condition

28. 2018-08-24
    listed $149,900 New
29. 2004-09-01
    soldstatus $61,011
30. 2004-06-18
    historical
31. 2003-10-09
    listed $67,500
32. 2001-06-25
    soldstatus $52,000
33. 2001-06-25
    soldstatus $72,700
34. 1994-01-31
    soldstatus $53,000

ⓘ 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: $5,357 · $446/mo
• Projected year-2 tax: $5,357 · $446/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,680
• − Mortgage interest: −$14,396
• − Property taxes: −$5,357
• − Insurance: −$1,285
• − Repairs & maintenance: −$2,774
• − Management: −$2,774
• − Depreciation: −$7,476
• Taxable income: $617
• Est. tax owed @ 24.0%: −$148
• After-tax cash flow: $4,434/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: Mechanicville City School District
• NCES district ID: 3618900
• Math proficiency: 57% ▼ -3.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $57,701
• Composite: 49.33/100
• National rank: #2021
• State rank: #270 of 590 in NY

Livability — Mechanicville

• Score: 67/100
• State rank: #568
• US rank: #10227

Category grades

Amenities C- Commute F Cost of living B+ Crime D+ Employment D Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mechanicville, NY
• County: Saratoga County · 166,192 people
• City population: 17,069
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 17,069
• Household income: $92,710
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 552.0

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Lithuanian 8% Romanian 8% Iranian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.43%
• Current HPI: 343.9893
• 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

+384.9% since first listed

17 events — show timeline

• 2026-05-27 Listed $257,000 Global MLS
• 2023-03-29 Pending — Global MLS
• 2023-02-15 Pending — Global MLS
• 2023-02-14 Listing Removed — Global MLS
• 2023-02-09 Listed $205,000 Global MLS
• 2019-05-24 Sold (Public Records) $136,000 Public Records
• 2019-05-17 Sold (MLS) $136,000 Global MLS
• 2019-03-06 Pending — Global MLS
• 2019-03-01 Listing Removed — Global MLS
• 2019-03-01 Listed $143,900 Global MLS
• 2018-08-24 Listed $149,900 Global MLS
• 2004-09-01 Sold (MLS) $61,011 Global MLS
• 2004-06-18 Listing Removed — Global MLS
• 2003-10-09 Listed $67,500 Global MLS
• 2001-06-25 Sold (Public Records) $72,700 Public Records
• 2001-06-25 Sold (Public Records) $52,000 Public Records
• 1994-01-31 Sold (Public Records) $53,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,357 · +135.3% YoY. Source: county tax records.