1103 River Rd · Troy, NY 12182

$160,000

3 bd · 1.0 ba · 1,911 sqft · SingleFamily public records · 120 Days on market

Built 1980 0.89 ac lot $84/sqft · 40% below area Est $265k · 40% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity. Set on .89 acres across three separate buildable lots with dual access from River Road and Lansing Road, this 1,911-square-foot split-level is ideal for investors looking to add value and maximize returns. The split design, with a half floor up and down, provides an excellent footprint for a profitable renovation. A new furnace is installed and ready to be connected to forced hot air, giving investors a key mechanical already in place. Whether your strategy is fix-and-flip, long-term rental, or leveraging the additional lots for future development, this property offers rare flexibility and strong upside for those ready to execute their vision. SOLD IN AS-IS CONDITION.

Key facts

• New furnace
• Buildable lots
• Dual access

Tags

• INVESTMENT OPPORTUNITY
• BUILDABLE LOTS
• DUAL ACCESS
• SPLIT DESIGN
• NEW FURNACE
• PROFITABLE RENOVATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 5.5% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 405 units permitted in Rensselaer County in 2024 (224 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 $5k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $56k; list at $160k implies a 183% gain — meaningful room to come down on a strong offer.

Recommended offer $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.51% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.45%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $265,460
• List price: $160,000
• Delta: -39.73%
• 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
160 3rd St	0.31mi	3/2.5	2,000 (+5%)	4mo	$360,000	$180	68
311 Belgrade St	0.29mi	3/1.5	1,724 (-10%)	1mo	$208,575	$121	68
1081 2nd Ave	0.03mi	4/2.0 (+1)	1,766 (-8%)	11mo	$250,000	$142	68
6 Hopkins Ln	0.41mi	3/1.5	1,778 (-7%)	4mo	$245,000	$138	64
380 Lansing Ave	0.12mi	4/2.0 (+1)	1,768 (-8%)	15mo	$235,000	$133	60
47 New Turnpike Rd	0.38mi	3/2.5	1,984 (+4%)	17mo	$293,000	$148	55
29 Hudson St	0.53mi	3/2.5	1,764 (-8%)	3mo	$298,000	$169	54
333 Marion Ave	0.28mi	4/3.0 (+1)	2,100 (+10%)	7mo	$265,000	$126	51
15 Park Pl	0.66mi	4/2.0 (+1)	2,000 (+5%)	11mo	$255,000	$128	43
56 Middle St	0.69mi	3/2.0	1,670 (-13%)	3mo	$300,000	$180	41
2 Steenburgh Ave	0.72mi	2/2.0 (-1)	1,816 (-5%)	13mo	$365,000	$201	38
13 6th St	0.67mi	4/2.0 (+1)	2,036 (+6%)	19mo	$239,125	$117	33

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: 14.0%
• Equity multiple: 1.56×
• Total profit: $25,111
• Equity at exit: $23,857

10-year hold

• IRR: 22.8%
• Equity multiple: 2.96×
• Total profit: $87,687
• Equity at exit: $13,834

Cash invested: $44,800 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,413 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $801

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 62%

Sensitivity live

Price	-10% $911	-5% $856	+0% $801	+5% $745	+10% $690
Rent	-10% $610	-5% $705	+0% $801	+5% $896	+10% $991
Rate	-1.0pp $881	-0.5pp $841	base $801	+0.5pp $759	+1.0pp $717

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Parker Ln Unit 5 Waterford, NY	2.0	2.5	1500	$2,800	$1.87	15d	1	0.69mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,711	$1.44	15d	1	0.99mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	15d	13	1.38mi

Listing history 19 events

1. 2026-06-18
   days on market $160,000 Active 120 DOM
2. 2026-06-17
   days on market $160,000 Active 119 DOM
3. 2026-06-16
   days on market $160,000 Active 118 DOM
4. 2026-06-15
   days on market $160,000 Active 117 DOM
5. 2026-06-14
   days on market $160,000 Active 115 DOM
6. 2026-06-10
   days on market $160,000 Active 112 DOM
7. 2026-06-09
   days on market $160,000 Active 111 DOM
8. 2026-06-08
   days on market $160,000 Active 110 DOM
9. 2026-06-07
   days on market $160,000 Active 109 DOM
10. 2026-06-05
    days on market $160,000 Active 106 DOM
11. 2026-06-03
    days on market $160,000 Active 105 DOM
12. 2026-06-02
    days on market $160,000 Active 104 DOM
13. 2026-06-01
    days on market $160,000 Active 103 DOM
14. 2026-05-31
    days on market $160,000 Active 102 DOM
15. 2026-05-31
    days on market $160,000 Active 101 DOM
16. 2026-02-18
    listed $160,000 Active 706-char remark

    Show marketing remark (706 chars)

    Great investment opportunity. Set on .89 acres across three separate buildable lots with dual access from River Road and Lansing Road, this 1,911-square-foot split-level is ideal for investors looking to add value and maximize returns. The split design, with a half floor up and down, provides an excellent footprint for a profitable renovation. A new furnace is installed and ready to be connected to forced hot air, giving investors a key mechanical already in place. Whether your strategy is fix-and-flip, long-term rental, or leveraging the additional lots for future development, this property offers rare flexibility and strong upside for those ready to execute their vision. SOLD IN AS-IS CONDITION.

17. 2001-01-29
    soldstatus $56,500 209-char remark

    Show marketing remark (209 chars)

    RANCH HOUSE WITH SPLIT RANCH IN BACK, USED TO BE A CRAFT SHOP HAS FRONTAGE RIGHT ON RIVER ROAD, THE POSSIBLITIES ARE ENDLESS AS COMMERCIAL OR APARTMENTS, 3,000 SQ.FT. 8 LOTS IN BACK FOR $7500 -- Good Condition

18. 2000-12-15
    historical 209-char remark

    Show marketing remark (209 chars)

    RANCH HOUSE WITH SPLIT RANCH IN BACK, USED TO BE A CRAFT SHOP HAS FRONTAGE RIGHT ON RIVER ROAD, THE POSSIBLITIES ARE ENDLESS AS COMMERCIAL OR APARTMENTS, 3,000 SQ.FT. 8 LOTS IN BACK FOR $7500 -- Good Condition

19. 2000-07-21
    listed $49,000 209-char remark

    Show marketing remark (209 chars)

    RANCH HOUSE WITH SPLIT RANCH IN BACK, USED TO BE A CRAFT SHOP HAS FRONTAGE RIGHT ON RIVER ROAD, THE POSSIBLITIES ARE ENDLESS AS COMMERCIAL OR APARTMENTS, 3,000 SQ.FT. 8 LOTS IN BACK FOR $7500 -- Good 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: $28,959
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − Depreciation: −$4,655
• Taxable income: $7,509
• Est. tax owed @ 24.0%: −$1,802
• After-tax cash flow: $7,807/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• City population: 53,479
• Population (ZIP): 14,273

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.58%
• Current HPI: 273.5758
• 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

+226.5% since first listed

4 events — show timeline

• 2026-02-18 Listed $160,000 Global MLS
• 2001-01-29 Sold (MLS) $56,500 Global MLS
• 2000-12-15 Listing Removed — Global MLS
• 2000-07-21 Listed $49,000 Global MLS

Property tax history

+8.5%/yr

Latest (2025): $9,660 · -3.3% YoY. Source: county tax records.