98 Livingston Ave · Albany, NY 12207

$199,000

3 bd · 1.0 ba · 1,530 sqft · Townhouse public records · 130 Days on market

Built 1857 871 sqft lot Est $358k · 44% 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).

• Cash flow +16.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.4/10.0
• Appreciation +5.0/10.0
• DSCR +4.9/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful single family townhome with 3 floors of living space. Freshly painted, some updates. Very cute back yard patio with raised beds. Large living/family room. Why rent when you can own a piece of historical Albany. Excellent Condition

Key facts

• Private patio
• Walkable convenience
• Built 1857

Tags

• PRIVATE PATIO
• HUDSON MOHAWK BIKE TRAIL
• WALKABLE CONVENIENCE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 5.7% in Albany — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Arbor Hill Elementary School (math 17% / reading 17%, grade F, #2,011 of 2,108 statewide, top 96%, 265 students, 87% FRL); Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL).
• Market conditions: Rents rising fast (+5.8%/yr); 5 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• 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 + 5.8% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $199k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1857 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1857 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.04% ✓
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $358,020
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Chapel St #303	0.32mi	2/2.0 (-1)	1,455 (-5%)	3mo	$340,000	$234	65
17 Chapel St #703	0.32mi	2/2.0 (-1)	1,590 (+4%)	15mo	$535,000	$336	56
513 Lark Dr	0.42mi	3/1.5	1,312 (-14%)	21mo	$120,000	$91	38

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 · 5.83% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.65×
• Total profit: $36,419
• Equity at exit: $89,479

10-year hold

• IRR: 15.0%
• Equity multiple: 3.36×
• Total profit: $131,232
• Equity at exit: $137,898

Cash invested: $55,720 (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 12207

• Rents YoY: 5.8%
• Active inventory: 5
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$417 /mo · $5,004/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $98

Break-even live

Break-even rent $1,954

Max offer price $199,000

Occupancy floor 90%

Sensitivity live

Price	-10% $210	-5% $154	+0% $98	+5% $41	+10% $-15
Rent	-10% $-66	-5% $16	+0% $98	+5% $180	+10% $262
Rate	-1.0pp $198	-0.5pp $148	base $98	+0.5pp $46	+1.0pp $-6

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	45d	1	0.21mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	23d	1	0.24mi
883 Broadway Apt 103 Albany, NY	2.0	1.0	1155	$1,785	$1.55	25d	1	0.28mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	25d	1	0.51mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	16d	17	0.53mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	45d	1	0.76mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	25d	1	0.77mi
352 State St Albany, NY	2.0	2.0	1143	$2,500	$2.19	25d	1	0.78mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	45d	1	0.85mi
1556 1st St Rensselaer, NY	2.0	1.0	2178	$1,600	$0.73	16d	1	0.87mi
945 Broadway Rensselaer, NY	3.0	1.0	1200	$1,650	$1.38	25d	1	0.93mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	25d	1	0.95mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	45d	1	0.95mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	45d	1	0.95mi
364 Madison Ave Albany, NY	2.0	2.0	1150	$1,850	$1.61	23d	1	0.96mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	45d	1	0.97mi
99 New Broadway Rensselaer, NY	2.0	1.0–2.0	946	$2,495	$2.64	16d	5	0.98mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	25d	1	0.98mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	16d	10	0.99mi
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	21d	1	1.04mi
100 New Broadway Rensselaer, NY	2.0	2.0	1248	$2,212	$1.77	16d	2	1.04mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	46d	1	1.05mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	45d	1	1.07mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	45d	1	1.12mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	45d	1	1.12mi
624 N Pearl St Unit 1st floor Albany, NY	4.0	2.0	1800	$1,950	$1.08	16d	1	1.22mi
628 N Pearl St Menands, NY	3.0	1.0	1088	$1,500	$1.38	45d	1	1.23mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	16d	1	1.25mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	16d	1	1.33mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	45d	1	1.41mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	25d	1	1.42mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	1.43mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	45d	1	1.44mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	1.44mi

Listing history 20 events

1. 2026-03-20
   status Pending
2. 2026-03-04
   price $199,000
3. 2026-02-20
   price $214,000
4. 2026-02-04
   price $219,000
5. 2026-01-28
   price $224,000
6. 2026-01-22
   price $229,000
7. 2026-01-14
   price $231,500
8. 2026-01-07
   price $234,000
9. 2025-12-03
   price $239,000
10. 2025-11-10
    listed $249,000 Active
11. 2016-05-20
    historical
12. 2016-02-08
    listed $139,000 New
13. 2008-06-27
    soldstatus $112,000
14. 2008-06-13
    soldstatus $112,000 241-char remark

    Show marketing remark (241 chars)

    Beautiful single family townhome with 3 floors of living space. Freshly painted, some updates. Very cute back yard patio with raised beds. Large living/family room. Why rent when you can own a piece of historical Albany. Excellent Condition

15. 2008-04-14
    historical 241-char remark

    Show marketing remark (241 chars)

    Beautiful single family townhome with 3 floors of living space. Freshly painted, some updates. Very cute back yard patio with raised beds. Large living/family room. Why rent when you can own a piece of historical Albany. Excellent Condition

16. 2007-10-29
    listed $125,000 241-char remark

    Show marketing remark (241 chars)

    Beautiful single family townhome with 3 floors of living space. Freshly painted, some updates. Very cute back yard patio with raised beds. Large living/family room. Why rent when you can own a piece of historical Albany. Excellent Condition

17. 2007-02-07
    soldstatus $103,000
18. 2001-06-19
    soldstatus $10,000
19. 2001-02-22
    historical
20. 2000-01-18
    listed $15,900

ⓘ 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: $5,004 · $417/mo
• Projected year-2 tax: $5,004 · $417/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,931
• − Mortgage interest: −$11,147
• − Property taxes: −$5,004
• − Insurance: −$995
• − Repairs & maintenance: −$1,994
• − Management: −$1,994
• − Depreciation: −$5,789
• Taxable loss: −$1,993
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $1,652/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): 1,988
• Household income: $58,998
• Rent vs Own: 96.0% rent · 4.0% own
• Severe rent burden: 182.0

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 0.62)
• Race & ethnicity: White 44% Black 43% Hispanic / Latino 7% Asian 3% Two or more races 3%
• Hispanic origin (detail): Mexican 2% Cuban 2% Dominican 2%
• Common ancestry: Romanian 4% Serbian 1% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 85% English-only · Spanish 10% Korean 2% French/Haitian/Cajun 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: —
• Current HPI: —
• Rent YoY: ▲ 5.83%
• 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

+1151.6% since first listed

20 events — show timeline

• 2026-03-20 Pending — Global MLS
• 2026-03-04 Price Changed $199,000 Global MLS
• 2026-02-20 Price Changed $214,000 Global MLS
• 2026-02-04 Price Changed $219,000 Global MLS
• 2026-01-28 Price Changed $224,000 Global MLS
• 2026-01-22 Price Changed $229,000 Global MLS
• 2026-01-14 Price Changed $231,500 Global MLS
• 2026-01-07 Price Changed $234,000 Global MLS
• 2025-12-03 Price Changed $239,000 Global MLS
• 2025-11-10 Listed $249,000 Global MLS
• 2016-05-20 Listing Removed — Global MLS
• 2016-02-08 Listed $139,000 Global MLS
• 2008-06-27 Sold (Public Records) $112,000 Public Records
• 2008-06-13 Sold (MLS) $112,000 Global MLS
• 2008-04-14 Listing Removed — Global MLS
• 2007-10-29 Listed $125,000 Global MLS
• 2007-02-07 Sold (Public Records) $103,000 Public Records
• 2001-06-19 Sold (MLS) $10,000 Global MLS
• 2001-02-22 Listing Removed — Global MLS
• 2000-01-18 Listed $15,900 Global MLS

Property tax history

+6.5%/yr

Latest (2025): $5,004 · -4.5% YoY. Source: county tax records.