781 2nd Ave · Troy, NY 12182

$125,000

6 bd · 2.0 ba · 2,384 sqft · MultiFamily public records · 12 Days on market

Built 1949 5,662 sqft lot $52/sqft · 65% 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 +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

Multi-family units

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

Listing remarks

ALL OFFERS DUE BY 8PM SUNDAY, MAY 10TH. SEE OFFER INSTRUCTIONS. Welcome to this duplex opportunity in the heart of Lansingburgh, ready for a full transformation. This property requires major renovation but offers significant upside potential for investors, contractors, or ambitious owner-occupants looking to build equity. The spacious layout offers flexibility with a potential 3-4 bedroom unit on the first floor and a 2-3 bedroom unit on the second floor, creating the opportunity for strong market-rate rental income once completed. Generous room sizes, flexible floor plans, and solid income potential make this a project worth considering for those looking to capitalize on the growing demand

Key facts

• 5,662 sq ft lot
• Built 1949
• Listed 12 days

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer
• Home design: Duplex; Two-unit property
• Construction: Aluminum siding
• Exterior features: Lot approximately 0.13 acres

Interior

• Kitchen:
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Property total: 6 bedrooms
• Flooring:
• Bathrooms: 2 full bathrooms (one on the 1st floor, one on the 2nd floor); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $819/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $125k).
• Cap rate 26.4% vs local median 5.3% 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; 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 2.89% ✓
• Cap rate: 26.45%
• Cash-on-cash: 71.98%
• DSCR: 4.20
• GRM: 2.9

CMA / ARV

• ARV (median comp): $361,916
• List price: $125,000
• Delta: -65.46%
• 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
754 3rd Ave	0.12mi	6/2.0	2,368 (-1%)	5mo	$125,000	$53	89
761 2nd Ave	0.05mi	6/2.0	2,544 (+7%)	3mo	$165,000	$65	84
811 1st Ave	0.11mi	6/2.0	2,288 (-4%)	6mo	$268,000	$117	83
797 1st Ave	0.08mi	5/3.0 (-1)	2,336 (-2%)	8mo	$425,000	$182	78
694 4th Ave	0.28mi	5/2.0 (-1)	2,486 (+4%)	0mo	$190,500	$77	74
821 6th Ave	0.27mi	6/3.0	2,320 (-3%)	6mo	$312,500	$135	74
662 5th Ave	0.39mi	6/2.0	2,475 (+4%)	6mo	$244,215	$99	71
670 5th Ave	0.36mi	5/3.0 (-1)	2,440 (+2%)	5mo	$231,500	$95	66
28 Mohawk Ave	0.66mi	6/2.0	2,302 (-3%)	1mo	$170,000	$74	63
846 7th Ave	0.39mi	6/2.0	2,116 (-11%)	5mo	$270,000	$128	59
15-17 4th St	0.55mi	5/3.0 (-1)	2,548 (+7%)	6mo	$354,000	$139	49
109 Third St	0.75mi	6/2.0	2,548 (+7%)	8mo	$290,000	$114	47

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: 54.7%
• Equity multiple: 3.41×
• Total profit: $84,401
• Equity at exit: $18,638

10-year hold

• IRR: 59.8%
• Equity multiple: 6.97×
• Total profit: $209,003
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $3,610 high
• Mortgage (P&I): −$656
• Tax from tax record: −$45 /mo · $539/yr
• Insurance: −$52
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $1,639

Break-even live

Break-even rent $1,535

Max offer price $125,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,710	-5% $1,674	+0% $1,639	+5% $1,604	+10% $1,568
Rent	-10% $1,354	-5% $1,496	+0% $1,639	+5% $1,782	+10% $1,924
Rate	-1.0pp $1,702	-0.5pp $1,671	base $1,639	+0.5pp $1,607	+1.0pp $1,574

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,610
Total (2 units)			$3,610

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-18
   status Pending 1037-char remark
2. 2026-05-06
   listed $125,000 Active 1037-char remark
3. 2000-02-04
   soldstatus $25,000

ⓘ 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: $539 · $45/mo
• Projected year-2 tax: $1,326 · $110/mo
• Expected delta: +$787/yr (+$66/mo · 146.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $43,320
• − Mortgage interest: −$7,002
• − Property taxes: −$539
• − Insurance: −$6,150
• − Repairs & maintenance: −$3,466
• − Management: −$3,466
• − Depreciation: −$3,636
• Taxable income: $19,062
• Est. tax owed @ 24.0%: −$4,575
• After-tax cash flow: $15,093/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

+400.0% since first listed

3 events — show timeline

• 2026-05-18 Pending — Global MLS
• 2026-05-06 Listed $125,000 Global MLS
• 2000-02-04 Sold (Public Records) $25,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $539 · -2.9% YoY. Source: county tax records.