853 5th Ave

Troy, NY 12182

$265,000F

6 bd · 2.0 ba · 3,000 sqft · Built 1900 · MultiFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,967/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$442
• HOA: −$0
• Vac / Maint / Mgmt: −$413
• Net cashflow: $-277/mo
• Annual: $-3,328/yr
• Cap rate: 5.04%
• Cash-on-cash: -4.48%
• DSCR: 0.80
• 1% rule: 0.74%
• Cash to close: $74,200

Investor read

• This is a 6-bed/2.0-bath multifamily listed at $265k. Condition is rated poor.
• At list price, monthly cash flow is $-277 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (25.8% below list).
• It's been on market 31 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $197k (25.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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: 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.
• Zoned schools: Turnpike Elementary School (534 students, 61% FRL); Knickerbacker Middle School (math 15% / reading 35%, grade F, #601 of 729 statewide, top 82%, 471 students, 75% FRL); Lansingburgh Senior High School (math 92%, 638 students, 75% FRL) — zoned schools average 70% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Visible damage and potential leaks
• Major: exterior siding — Damaged and peeling
• Major: interior walls — Paint peeling and walls in need of repair
• Major: HVAC/mechanicals — Likely in need of maintenance