1072 Climax Ave · Schenectady, NY 12304

$85,000

2 bd · 1.0 ba · 1,178 sqft · SingleFamily public records · 34 Days on market

Built 1920 0.40 ac lot $72/sqft · 64% below area

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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 +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

City of Schenectady owned. Excellent opportunity for an owner-occupant or investor to restore this single-family home tucked away on a quiet cul-de-sac near shopping and I-890. Offering 1,178 sq ft, the home features 2 bedrooms, 1 full bath, and a flex room on a deep 80 x 218 lot. Ideal for renovation, this property offers the chance to create value and make it your own. Property requires a $50,000 reserve.

Key facts

• Quiet cul-de-sac
• Deep lot
• Flex room

Tags

• QUIET CUL-DE-SAC
• FLEX ROOM
• DEEP LOT

Property features AI

Exterior

• Parking: Driveway with parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Single family residence; Fixer condition
• Construction: Vinyl siding; Shingle roof
• Exterior features: Enclosed patio/porch; Front porch

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms on the first floor
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Natural gas heating
• Interior features: 8 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $802 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 6.3% 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: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 106 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 2.07% ✓
• Cap rate: 17.62%
• Cash-on-cash: 40.44%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $236,712
• List price: $85,000
• Delta: -64.09%
• 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
1044 Climax Ave	0.04mi	3/2.0 (+1)	1,183 (+0%)	1mo	$135,000	$114	88
517 Kings Rd	0.34mi	3/1.5 (+1)	1,075 (-9%)	2mo	$235,000	$219	60
112 Mercer Ave	0.64mi	3/1.0 (+1)	1,176 (-0%)	5mo	$239,000	$203	60
349 Gifford Rd	0.34mi	3/1.0 (+1)	1,040 (-12%)	0mo	$150,000	$144	59
120 East Palmer Ave	0.38mi	3/1.0 (+1)	1,053 (-11%)	3mo	$300,000	$285	57
126 Manchester Rd	0.69mi	3/1.5 (+1)	1,208 (+2%)	0mo	$290,000	$240	56
205 E Palmer Ave	0.70mi	3/1.5 (+1)	1,132 (-4%)	3mo	$348,000	$307	51
655 Fillmore Ave	0.71mi	3/1.0 (+1)	1,103 (-6%)	5mo	$162,000	$147	48
3123 Albany St	0.71mi	3/1.0 (+1)	1,283 (+9%)	4mo	$229,000	$178	44
320 Gasner Ave	0.70mi	2/1.0	1,012 (-14%)	2mo	$260,000	$257	42
230 Gasner Ave	0.74mi	3/1.0 (+1)	1,040 (-12%)	4mo	$298,000	$287	37
12 St Marie St	0.73mi	3/1.0 (+1)	1,032 (-12%)	6mo	$300,000	$291	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.57×
• Total profit: $37,332
• Equity at exit: $12,674

10-year hold

• IRR: 43.5%
• Equity multiple: 5.13×
• Total profit: $98,389
• Equity at exit: $7,349

Cash invested: $23,800 (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 12304

• Home prices YoY: -25.5%
• Active inventory: 106
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,759 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $802

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 49%

Sensitivity live

Price	-10% $861	-5% $831	+0% $802	+5% $773	+10% $743
Rent	-10% $663	-5% $733	+0% $802	+5% $871	+10% $941
Rate	-1.0pp $845	-0.5pp $824	base $802	+0.5pp $780	+1.0pp $758

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4208 Court Royale Schenectady, NY	2.0	1.0	860	$1,590	$1.85	15d	1	0.33mi
4219 Menga Dr Schenectady, NY	2.0	1.0	865	$1,775	$2.05	15d	1	0.41mi
103 Kings Rd Unit 106 Schenectady, NY	2.0	2.0	1100	$1,450	$1.32	15d	1	0.84mi
66 Cordell Rd Schenectady, NY	2.0	1.0	744	$1,900	$2.55	44d	1	0.91mi
2810 Consaul Rd Schenectady, NY	2.0	2.0	1450	$2,700	$1.86	15d	1	1.30mi

Listing history 16 events

1. 2026-06-18
   days on market $85,000 Active 34 DOM
2. 2026-06-17
   days on market $85,000 Active 33 DOM
3. 2026-06-16
   days on market $85,000 Active 32 DOM
4. 2026-06-15
   days on market $85,000 Active 31 DOM
5. 2026-06-14
   days on market $85,000 Active 29 DOM
6. 2026-06-13
   days on market $85,000 Active 28 DOM
7. 2026-06-10
   days on market $85,000 Active 26 DOM
8. 2026-06-09
   days on market $85,000 Active 25 DOM
9. 2026-06-08
   days on market $85,000 Active 24 DOM
10. 2026-06-07
    days on market $85,000 Active 23 DOM
11. 2026-06-03
    days on market $85,000 Active 19 DOM
12. 2026-06-02
    days on market $85,000 Active 18 DOM
13. 2026-06-01
    days on market $85,000 Active 17 DOM
14. 2026-05-31
    days on market $85,000 Active 16 DOM
15. 2026-05-31
    days on market $85,000 Active 15 DOM
16. 2026-05-15
    listed $85,000 Active 410-char remark

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 65% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $21,105
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$2,473
• Taxable income: $8,794
• Est. tax owed @ 24.0%: −$2,111
• After-tax cash flow: $7,513/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: 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

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
• City population: 141,369
• Population (ZIP): 22,027

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% 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: ▼ -113.18%
• Current HPI: 331.0288
• 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

1 event — show timeline

• 2026-05-15 Listed $85,000 Global MLS

Property tax history

+20.1%/yr

Latest (2025): $8,907 · +238.7% YoY. Source: county tax records.