27 Mckinley St · Albany, NY 12206

$239,900

2 bd · 2.0 ba · 1,160 sqft · MultiFamily public records · 20 Days on market

Built 1921 3,920 sqft lot Est $223k · 8% over

---

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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.6/10.0
• ARV discount +4.0/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Great owner-occupy or investment opportunity in Albany! This 1,160 SF duplex features 4 generously sized bedrooms and 2 full baths, offering flexible living arrangements and strong rental potential. Ability to generate more than $2800/mo for excellent cash flow possibilities. Both units include living rooms, while the first-floor unit offers an eat-in kitchen and convenient in-unit washer & dryer. A partially finished basement provides abundant storage space. Outside, enjoy a rare 3-car garage that provides more rental income potential plus additional off-street parking. Ideal for investors or owner-occupants looking to offset expenses with rental income!

Key facts

• 3-car garage
• In-unit washer dryer
• Off-street parking

Tags

• IN-UNIT WASHER DRYER
• PARTIALLY FINISHED BASEMENT
• ABUNDANT STORAGE SPACE
• 3-CAR GARAGE
• OFF-STREET PARKING

Property features AI

Finance

• Financial info: Two-unit multi-family property

Exterior

• Parking: Detached garage; Driveway and off-street parking; Total of 3 garage spaces
• Utilities: Public water; Public sewer
• Home design: Duplex; 1,160 living area; Stucco and vinyl siding; Asphalt roof
• Construction: Stucco and vinyl siding construction; Asphalt roof
• Exterior features: Covered porch; Patio; Privacy wood fencing; Corner lot

Interior

• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Tile flooring; Hardwood flooring
• Bathrooms: Two full bathrooms (one full bath on first level, one full bath on second level)
• Heating & cooling: Forced-air natural gas heating; Window cooling units
• Interior features: Paddle fan; Blinds, drapes and curtain rods

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $736 ($9k/yr) — positive. Per door: $368/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 5.7% in Albany — 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 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: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• 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 + 5.4% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $193k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $236,301 (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 1921 — 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. 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?
6. 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.
7. 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.
8. 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: 1.26% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.15%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $222,720
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Lincoln Ave	0.10mi	3/2.0 (+1)	1,274 (+10%)	14mo	$245,000	$192	62
11 N Manning Blvd	0.54mi	3/2.0 (+1)	1,064 (-8%)	17mo	$135,000	$127	42

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $15,445
• Equity at exit: $35,770

10-year hold

• IRR: 17.2%
• Equity multiple: 2.58×
• Total profit: $105,840
• Equity at exit: $20,742

Cash invested: $67,172 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $3,028 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$298 /mo · $3,576/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $736

Break-even live

Break-even rent $2,096

Max offer price $239,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,028
Total (2 units)			$3,028

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	14d	1	0.18mi
898 Lancaster St Unit 2 Albany, NY	2.0	1.0	1200	$1,700	$1.42	23d	1	0.29mi
1 Bleecker Ter Albany, NY	1.0–2.0	1.0	609	$1,499	$2.46	14d	1	0.42mi
526 Central Ave Albany, NY	1.0–2.0	1.0	957	$1,435	$1.50	44d	1	0.47mi
60 Colvin Ave Albany, NY	1.0	1.0	745	$1,130	$1.52	44d	1	0.57mi
31 Terrace Ave Albany, NY	2.0	1.0	741	$1,500	$2.02	44d	1	0.58mi
400 Central Ave Albany, NY	2.0	1.0	675	$1,591	$2.36	44d	11	0.70mi
260 Bradford St Unit 205 Albany, NY	3.0	2.0	912	$1,700	$1.86	23d	1	0.72mi
260 Bradford St Unit 105 Albany, NY	2.0	1.0	745	$1,500	$2.01	23d	1	0.72mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	14d	1	0.75mi
530 3rd St Apt 2 Albany, NY	2.0	1.0	900	$1,400	$1.56	44d	1	0.77mi
32 Richmond St Unit 2 Albany, NY	3.0	3.0	1248	$2,500	$2.00	14d	1	0.80mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	44d	1	0.82mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	23d	1	0.83mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	23d	1	0.83mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	0.90mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	44d	1	0.91mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	44d	1	0.92mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	23d	1	0.92mi
504 Morris St Albany, NY	2.0	1.0	720	$1,450	$2.01	44d	1	0.93mi
504 Morris St Albany, NY	2.0	1.0	720	$1,395	$1.94	23d	1	0.93mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	23d	1	0.95mi
800 Madison Ave Albany, NY	1.0–2.0	1.0	800	$1,650	$2.06	14d	2	1.01mi
180 Western Ave Unit 1st Floor Albany, NY	2.0	1.0	900	$1,550	$1.72	44d	1	1.02mi
180 Western Ave Unit 2nd Floor Albany, NY	2.0	1.0	1000	$1,575	$1.57	44d	1	1.02mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	14d	1	1.02mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	1.02mi
460 Washington Ave Albany, NY	2.0	1.0	950	$1,650	$1.74	23d	1	1.05mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	1.07mi
255 Patroon Creek Blvd Albany, NY	1.0–3.0	1.0–2.0	1080	$2,226	$2.06	14d	22	1.08mi
39 S Lake Ave Unit 1 Albany, NY	1.0	1.0	900	$1,600	$1.78	44d	1	1.10mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	44d	1	1.11mi
469 Livingston Ave Albany, NY	1.0–3.0	1.0	685	$1,452	$2.12	14d	1	1.16mi
35 Parkwood St Albany, NY	2.0	1.0	900	$1,495	$1.66	23d	1	1.17mi
9 Circle Ln Albany, NY	2.0	1.0	771	$1,805	$2.34	14d	1	1.19mi
271 S Allen St Apt 3 Albany, NY	2.0	1.0	700	$1,695	$2.42	14d	1	1.19mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	1.27mi
521 Warren St Albany, NY	2.0	1.0	850	$2,300	$2.71	14d	1	1.27mi
53 Greenway N Albany, NY	3.0	2.0	1500	$2,600	$1.73	23d	1	1.29mi
563 New Scotland Ave Albany, NY	2.0	1.0–2.0	931	$3,125	$3.36	14d	37	1.32mi

Listing history 14 events

1. 2026-06-18
   days on market $239,900 Active 20 DOM
2. 2026-06-17
   days on market $239,900 Active 19 DOM
3. 2026-06-16
   days on market $239,900 Active 18 DOM
4. 2026-06-15
   days on market $239,900 Active 17 DOM
5. 2026-06-14
   days on market $239,900 Active 15 DOM
6. 2026-06-10
   days on market $239,900 Active 12 DOM
7. 2026-06-08
   days on market $239,900 Active 10 DOM
8. 2026-06-07
   days on market $239,900 Active 9 DOM
9. 2026-06-03
   days on market $239,900 Active 5 DOM
10. 2026-06-02
    days on market $239,900 Active 4 DOM
11. 2026-06-01
    days on market $239,900 Active 3 DOM
12. 2026-05-31
    days on market $239,900 Active 2 DOM
13. 2026-05-31
    remarks 665-char remark
14. 2026-05-31
    listed $239,900 Active 1 DOM

ⓘ 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: $3,576 · $298/mo
• Projected year-2 tax: $3,815 · $318/mo
• Expected delta: +$239/yr (+$20/mo · 6.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $36,336
• − Mortgage interest: −$13,438
• − Property taxes: −$3,576
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,907
• − Management: −$2,907
• − Depreciation: −$6,979
• Taxable income: $5,330
• Est. tax owed @ 24.0%: −$1,279
• After-tax cash flow: $7,554/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+118.1% since first listed

19 events — show timeline

• 2026-05-29 Listed $239,900 Global MLS
• 2022-03-11 Listing Removed — Global MLS
• 2022-02-28 Listed $189,000 Global MLS
• 2020-02-20 Listing Removed — Global MLS
• 2019-09-18 Listed $185,000 Global MLS
• 2019-02-01 Listing Removed — Global MLS
• 2018-08-08 Price Changed $199,900 Global MLS
• 2018-07-17 Price Changed $205,000 Global MLS
• 2018-05-15 Listed $220,000 Global MLS
• 2015-01-29 Listing Removed — Global MLS
• 2014-07-09 Listed $209,900 Global MLS
• 2013-04-30 Sold (Public Records) $193,000 Public Records
• 2013-04-26 Sold (MLS) $193,000 Global MLS
• 2013-02-24 Listing Removed — Global MLS
• 2013-01-25 Listed $199,500 Global MLS
• 2010-07-14 Sold (Public Records) $109,000 Public Records
• 2010-06-23 Sold (MLS) $109,000 Global MLS
• 2009-03-17 Listing Removed — Global MLS
• 2008-07-23 Listed $110,000 Global MLS

Property tax history

-1.1%/yr

Latest (2025): $3,576 · +5.3% YoY. Source: county tax records.