5 West St · Albany, NY 12206

$289,000

5 bd · 3.0 ba · 1,880 sqft · MultiFamily public records · 18 Days on market

Built 1890 1,306 sqft lot Est $216k · 34% over

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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

***MULTIPLE OFFERS-BEST & FINAL BY MONDAY 3/20/23 AT 10AM***Triplex in Albany in need of TLC. Property is being sold AS IS. Units 1 & 2 are vacant and ready to be spruced up for rent. Unit 3 is occupied. Close to college, Washington Park, bus stop, shopping, etc.

Key facts

• Modernized interior
• Refreshed bathrooms
• Updated flooring

Tags

• MODERNIZED INTERIOR
• UPDATED FLOORING
• REDESIGNED KITCHEN
• REFRESHED BATHROOMS
• LOW MAINTENANCE LIVING

Property features AI

Finance

• Financial info: Three total units; Tenants pay electricity and gas; owner pays water, trash collection and other utilities

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric: other
• Home design: Triplex; Flat and shingle roofs
• Construction: Wood siding
• Exterior features: Back-yard fencing; Other exterior features

Interior

• Bedrooms: Three units with 2 bedrooms each (Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms)
• Flooring: Wood flooring
• Bathrooms: Three full bathrooms (located on 1st, 2nd and 3rd levels)
• Heating & cooling: Natural gas heating; Cooling present (unspecified type)
• Interior features: Walk-in closets; Full, unfinished basement
• Laundry & utility: Laundry area on main level and additional/shared laundry area

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $484/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $285k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% 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: Sheridan Preparatory Academy (math 17% / reading 27%, grade F, #1,923 of 2,108 statewide, top 92%, 287 students, 90% 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 (+5.4%/yr); 89 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,492/mo this rent would consume 130% of the median local household income ($42k/yr) (locally 2035% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 $81k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $192k; list at $289k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $284,665 (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 1890 — 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: 1.55% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.52%
• DSCR: 1.96
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $216,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
184 Quail St	0.31mi	6/3.0 (+1)	1,853 (-1%)	4mo	$231,000	$125	74
446 1st St	0.33mi	6/2.0 (+1)	1,848 (-2%)	1mo	$160,000	$87	72
189 Elk St	0.48mi	6/2.0 (+1)	1,880 (0%)	2mo	$89,900	$48	67
339 2nd St	0.38mi	6/2.0 (+1)	1,784 (-5%)	1mo	$175,000	$98	64
184 N Lake Ave	0.41mi	6/2.0 (+1)	1,974 (+5%)	1mo	$195,000	$99	62
156 Lark St	0.51mi	6/3.0 (+1)	1,728 (-8%)	1mo	$235,000	$136	57
9 Pennsylvania Ave	0.62mi	5/2.0	1,960 (+4%)	4mo	$225,000	$115	57
351 2nd St	0.38mi	6/2.0 (+1)	2,056 (+9%)	3mo	$184,002	$89	55
337 3rd St	0.44mi	6/2.0 (+1)	2,058 (+10%)	1mo	$160,000	$78	54
348 1st St	0.32mi	6/2.0 (+1)	1,606 (-15%)	5mo	$250,000	$156	48
531 Hamilton St	0.61mi	5/3.0	2,112 (+12%)	5mo	$284,750	$135	47
645 Myrtle Ave	0.67mi	6/2.0 (+1)	2,000 (+6%)	5mo	$270,000	$135	45

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: 16.8%
• Equity multiple: 1.70×
• Total profit: $56,670
• Equity at exit: $43,091

10-year hold

• IRR: 27.1%
• Equity multiple: 3.67×
• Total profit: $216,093
• Equity at exit: $24,987

Cash invested: $80,920 (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: 16.1×

Monthly cashflow live

• Estimated rent: $4,492 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$462 /mo · $5,542/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$943
• Net cashflow: $1,451

Break-even live

Break-even rent $2,655

Max offer price $289,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,491
Total (3 units)			$4,492

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	44d	1	0.34mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	44d	1	0.44mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	44d	1	0.46mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	44d	1	1.01mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	23d	1	1.19mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	44d	1	1.46mi

Listing history 23 events

1. 2026-06-07
   statusdays on market $289,000 Pending 18 DOM
2. 2026-06-03
   days on market $289,000 Active 17 DOM
3. 2026-06-02
   days on market $289,000 Active 16 DOM
4. 2026-06-01
   days on market $289,000 Active 15 DOM
5. 2026-05-31
   days on market $289,000 Active 14 DOM
6. 2026-05-31
   days on market $289,000 Active 13 DOM
7. 2026-05-17
   listed $289,000 Active
8. 2023-06-12
   soldstatus $192,000
9. 2023-06-01
   soldstatus $192,000 Closed 274-char remark

   Show marketing remark (274 chars)

   ***MULTIPLE OFFERS-BEST & FINAL BY MONDAY 3/20/23 AT 10AM***Triplex in Albany in need of TLC. Property is being sold AS IS. Units 1 & 2 are vacant and ready to be spruced up for rent. Unit 3 is occupied. Close to college, Washington Park, bus stop, shopping, etc.

10. 2023-03-29
    status Pending 274-char remark

    Show marketing remark (274 chars)

    ***MULTIPLE OFFERS-BEST & FINAL BY MONDAY 3/20/23 AT 10AM***Triplex in Albany in need of TLC. Property is being sold AS IS. Units 1 & 2 are vacant and ready to be spruced up for rent. Unit 3 is occupied. Close to college, Washington Park, bus stop, shopping, etc.

11. 2023-03-21
    status Pending 274-char remark

    Show marketing remark (274 chars)

    ***MULTIPLE OFFERS-BEST & FINAL BY MONDAY 3/20/23 AT 10AM***Triplex in Albany in need of TLC. Property is being sold AS IS. Units 1 & 2 are vacant and ready to be spruced up for rent. Unit 3 is occupied. Close to college, Washington Park, bus stop, shopping, etc.

12. 2023-03-16
    listed $209,000 Active 274-char remark

    Show marketing remark (274 chars)

    ***MULTIPLE OFFERS-BEST & FINAL BY MONDAY 3/20/23 AT 10AM***Triplex in Albany in need of TLC. Property is being sold AS IS. Units 1 & 2 are vacant and ready to be spruced up for rent. Unit 3 is occupied. Close to college, Washington Park, bus stop, shopping, etc.

13. 2019-10-03
    soldstatus $176,000 Closed (Final Sale) 121-char remark

    Show marketing remark (121 chars)

    TURN KEY RENTAL PROPERTY MINUTES FROM DOWNTOWN ALBANY. SOLID BUILDING WITH MANY UPGRADES THROUGHOUT. Very Good Condition

14. 2019-08-22
    status Pend (Under Cntr) 121-char remark

    Show marketing remark (121 chars)

    TURN KEY RENTAL PROPERTY MINUTES FROM DOWNTOWN ALBANY. SOLID BUILDING WITH MANY UPGRADES THROUGHOUT. Very Good Condition

15. 2019-08-07
    listed $174,900 New 121-char remark

    Show marketing remark (121 chars)

    TURN KEY RENTAL PROPERTY MINUTES FROM DOWNTOWN ALBANY. SOLID BUILDING WITH MANY UPGRADES THROUGHOUT. Very Good Condition

16. 2016-07-13
    soldstatus $157,456
17. 2016-06-22
    soldstatus $157,456 Closed (Final Sale)
18. 2016-04-19
    status Pend (Under Cntr)
19. 2016-03-16
    listed $159,000 New
20. 2015-08-05
    soldstatus $30,000
21. 2015-07-24
    soldstatus $30,000
22. 2015-07-09
    historical
23. 2015-07-06
    listed $35,000

ⓘ 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: $5,542 · $462/mo
• Projected year-2 tax: $5,542 · $462/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 1/10 Low
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,904
• − Mortgage interest: −$16,188
• − Property taxes: −$5,542
• − Insurance: −$1,445
• − Repairs & maintenance: −$4,312
• − Management: −$4,312
• − Depreciation: −$8,407
• Taxable income: $13,696
• Est. tax owed @ 24.0%: −$3,287
• After-tax cash flow: $14,123/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

+725.7% since first listed

17 events — show timeline

• 2026-05-17 Listed $289,000 Global MLS
• 2023-06-12 Sold (Public Records) $192,000 Public Records
• 2023-06-01 Sold (MLS) $192,000 Global MLS
• 2023-03-29 Pending — Global MLS
• 2023-03-21 Pending — Global MLS
• 2023-03-16 Listed $209,000 Global MLS
• 2019-10-03 Sold (MLS) $176,000 Global MLS
• 2019-08-22 Pending — Global MLS
• 2019-08-07 Listed $174,900 Global MLS
• 2016-07-13 Sold (Public Records) $157,456 Public Records
• 2016-06-22 Sold (MLS) $157,456 Global MLS
• 2016-04-19 Pending — Global MLS
• 2016-03-16 Listed $159,000 Global MLS
• 2015-08-05 Sold (Public Records) $30,000 Public Records
• 2015-07-24 Sold (MLS) $30,000 Global MLS
• 2015-07-09 Listing Removed — Global MLS
• 2015-07-06 Listed $35,000 Global MLS

Property tax history

+25.9%/yr

Latest (2025): $5,542 · -17.4% YoY. Source: county tax records.