1723 Broadway · Schenectady, NY 12306

$249,000

5 bd · 3.0 ba · 2,144 sqft · MultiFamily public records · 31 Days on market

Built 1900 Fair condition 5,227 sqft lot $116/sqft · 37% below area Est $396k · 37% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

Beautiful 3 family house, great investment property, alum. siding, close to bus line.

Key facts

• 5,227 sq ft lot
• 3 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $249k. Condition is rated fair.
• This rent per unit runs 35% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $249k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.4% vs local median 4.6% in Schenectady — 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 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Van Corlaer Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 436 students, 78% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Market conditions: 318 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 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.
• Schenectady County population projected to shrink 4% 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 $70k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $68k; list at $249k implies a 269% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 24.38%
• Cash-on-cash: 64.59%
• DSCR: 3.87
• GRM: 2.9

CMA / ARV

• ARV (median comp): $396,273
• List price: $249,000
• Delta: -37.16%
• 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
2119 Broadway	0.26mi	4/3.0 (-1)	2,183 (+2%)	8mo	$167,500	$77	73
1933 Wabash Ave	0.16mi	6/2.0 (+1)	2,320 (+8%)	5mo	$275,000	$119	66
1958 Wabash Ave	0.20mi	4/2.0 (-1)	1,908 (-11%)	2mo	$245,000	$128	62
467-469 Cedar St	0.37mi	6/2.0 (+1)	2,024 (-6%)	5mo	$285,000	$141	60
1087 Davis Ter	0.49mi	4/2.0 (-1)	2,208 (+3%)	4mo	$150,000	$68	60
2311 Guilderland Ave	0.58mi	6/2.0 (+1)	2,090 (-2%)	1mo	$175,000	$84	59
2332 Turner Ave	0.52mi	5/3.0	1,932 (-10%)	5mo	$255,000	$132	55
1075 Pleasant St	0.72mi	6/2.0 (+1)	2,120 (-1%)	1mo	$230,000	$108	54
1928 Broad St	0.46mi	4/2.0 (-1)	1,920 (-10%)	3mo	$260,000	$135	50
2336 Turner Ave	0.53mi	4/3.0 (-1)	1,932 (-10%)	10mo	$190,000	$98	45
987 Main Ave	0.75mi	6/2.0 (+1)	2,370 (+10%)	1mo	$294,900	$124	37
2606 Campbell Ave Ave	0.71mi	6/2.0 (+1)	2,416 (+13%)	9mo	$285,000	$118	29

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: 63.7%
• Equity multiple: 3.85×
• Total profit: $198,889
• Equity at exit: $37,127

10-year hold

• IRR: 68.2%
• Equity multiple: 7.91×
• Total profit: $481,918
• Equity at exit: $21,529

Cash invested: $69,720 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 26 under contract
• Months of supply: 5.6 mo (18%/mo absorbed)
• Median asking: $279,900 ($130/sqft)
• Median days on market: 76 d
• This list price: 40% of active listings are priced below it
• ARV vs active asking: +42.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12306

• Home prices YoY: -23.8%
• Active inventory: 318
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $7,204 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$529 /mo · $6,350/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,513
• Net cashflow: $3,752

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$7,203
Total (3 units)			$7,204

Break-even live

Break-even rent $2,454

Max offer price $249,000

Occupancy floor 43%

Sensitivity live

Price	-10% $3,893	-5% $3,823	+0% $3,752	+5% $3,682	+10% $3,611
Rent	-10% $3,183	-5% $3,468	+0% $3,752	+5% $4,037	+10% $4,322
Rate	-1.0pp $3,878	-0.5pp $3,816	base $3,752	+0.5pp $3,688	+1.0pp $3,622

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: $62,250
• Closing costs: $7,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2301 Campbell Ave Schenectady, NY	4.0	1.5	1839	$2,600	$1.41	0d	1	0.45mi
1209 Congress St Apt 6 Schenectady, NY	4.0	1.0	1800	$1,850	$1.03	4d	1	0.68mi
1209 Congress St Apt 6 Schenectady, NY	4.0	1.0	1800	$1,850	$1.03	62d	1	0.68mi
1346 10th Ave Schenectady, NY	4.0	2.0	2350	$2,499	$1.06	110d	1	0.79mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	0d	6	1.23mi

Property features AI

Finance

• Financial info: Property configured as a 3-unit building

Exterior

• Parking: Three paved parking spaces
• Utilities: Public waterPublic sewer
• Home design: TriplexEntry level living on the 1st and 2nd levels
• Construction: Aluminum sidingShingle/asphalt roof
• Exterior features: Back yard with fencingFenced lotLevel lot

Interior

• Bedrooms: Unit 1: 1 bedroomUnit 2: 1 bedroomUnit 3: 3 bedrooms
• Bathrooms: Three full bathrooms (two on the 1st level, one on the 2nd level)
• Heating & cooling: Baseboard electric heating
• Interior features: Full basement

Listing history 33 events

1. 2026-08-23
   days on market $249,000 Active 31 DOM
2. 2026-08-22
   days on market $249,000 Active 30 DOM
3. 2026-08-21
   days on market $249,000 Active 29 DOM
4. 2026-08-20
   days on market $249,000 Active 28 DOM
5. 2026-08-19
   days on market $249,000 Active 27 DOM
6. 2026-08-18
   days on market $249,000 Active 26 DOM
7. 2026-08-17
   days on market $249,000 Active 25 DOM
8. 2026-08-16
   days on market $249,000 Active 24 DOM
9. 2026-08-15
   days on market $249,000 Active 23 DOM
10. 2026-08-14
    days on market $249,000 Active 22 DOM
11. 2026-08-13
    days on market $249,000 Active 21 DOM
12. 2026-08-12
    days on market $249,000 Active 20 DOM
13. 2026-08-11
    days on market $249,000 Active 19 DOM
14. 2026-08-10
    days on market $249,000 Active 18 DOM
15. 2026-08-09
    days on market $249,000 Active 17 DOM
16. 2026-08-08
    days on market $249,000 Active 16 DOM
17. 2026-08-07
    days on market $249,000 Active 15 DOM
18. 2026-08-06
    days on market $249,000 Active 14 DOM
19. 2026-08-05
    days on market $249,000 Active 13 DOM
20. 2026-08-04
    days on market $249,000 Active 12 DOM
21. 2026-08-03
    days on market $249,000 Active 11 DOM
22. 2026-07-31
    days on market $249,000 Active 8 DOM
23. 2026-07-30
    days on market $249,000 Active 7 DOM
24. 2026-07-29
    days on market $249,000 Active 6 DOM
25. 2026-07-27
    days on market $249,000 Active 4 DOM
26. 2026-07-25
    days on market $249,000 Active 2 DOM
27. 2026-07-24
    pricedays on marketlisting id $249,000 Active 1 DOM
28. 2026-04-28
    listed $299,000 Active 162-char remark
29. 2005-07-06
    soldstatus $67,500
30. 2005-06-17
    soldstatus $67,500 105-char remark

    Show marketing remark (105 chars)

    Beautiful 3 family house, great investment property, alum. siding, close to bus line. Excellent Condition

31. 2005-03-13
    historical 105-char remark

    Show marketing remark (105 chars)

    Beautiful 3 family house, great investment property, alum. siding, close to bus line. Excellent Condition

32. 2004-12-15
    listed $75,000 105-char remark

    Show marketing remark (105 chars)

    Beautiful 3 family house, great investment property, alum. siding, close to bus line. Excellent Condition

33. 2003-02-24
    soldstatus $33,000

ⓘ 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: $6,350 · $529/mo
• Projected year-2 tax: $6,350 · $529/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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $86,448
• − Mortgage interest: −$13,948
• − Property taxes: −$6,350
• − Insurance: −$1,245
• − Repairs & maintenance: −$6,916
• − Management: −$6,916
• − Depreciation: −$7,244
• Taxable income: $43,830
• Est. tax owed @ 24.0%: −$10,519
• After-tax cash flow: $34,510/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.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab Est. rehab $53,600–$96,480 screening

The property is in fair condition with moderate repairs and maintenance needed. Upgrading the interior walls, flooring, and kitchen can significantly increase its resale and rental value.

Deferred maintenance Est. $10,000–$30,000 screening

• Major Electrical panel (electrical) — The electrical panel appears to be old and possibly outdated, indicating a need for replacement.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear, but not requiring immediate replacement.
• Minor Bathroom fixtures — Basic fixtures, but could benefit from a fresh coat of paint.
• Minor Exterior siding — Some discoloration, but not requiring immediate replacement.
• Moderate Carpeted flooring — Significant wear and tear, requiring replacement.
• Moderate Interior walls — Significant wear and tear, requiring fresh paint.
• Minor Windows — Need new caulking or weatherstripping.

Value-add opportunities

• Resale Paint interior walls and ceilings — Fresh paint can significantly improve the home's appearance and appeal to potential buyers. ↑
• Resale Replace carpeted flooring — New flooring can greatly enhance the home's appeal and value. ↑
• Resale Update kitchen cabinets and countertops — Fresh updates to the kitchen can make it more appealing to potential buyers. ↑
• Resale Replace bathroom fixtures — Fresh fixtures can make the bathrooms more appealing and functional. ↑
• Both Update HVAC system — A new HVAC system can improve energy efficiency and comfort, benefiting both resale and rental value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the property. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Van Corlaer Elementary School F NY #1,846/2,108 Nat'l #30,133/41,679 Middle Mont Pleasant Middle School F NY #704/729 Nat'l #12,693/14,009 High Schenectady High School A NY #446/1,100 Nat'l #889/17,239

Schools (NCES district)

• District: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

B Composite livability gradescore 78/100

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

Amenities B- Commute A+ Cost of living A Crime F Employment D+ Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• County: Schenectady County · 155,046 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 4% of renters

---

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

---

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.35%
• Current HPI: 292.1229
• Rent YoY: —
• 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

Property features AI

Finance

• Financial info: Property configured as a 3-unit building

Exterior

• Parking: Three paved parking spaces
• Utilities: Public waterPublic sewer
• Home design: TriplexEntry level living on the 1st and 2nd levels
• Construction: Aluminum sidingShingle/asphalt roof
• Exterior features: Back yard with fencingFenced lotLevel lot

Interior

• Bedrooms: Unit 1: 1 bedroomUnit 2: 1 bedroomUnit 3: 3 bedrooms
• Bathrooms: Three full bathrooms (two on the 1st level, one on the 2nd level)
• Heating & cooling: Baseboard electric heating
• Interior features: Full basement

Price history

+654.5% since first listed

9 events — show timeline

• 2026-08-24 Listing Removed — Global MLS
• 2026-07-23 Listed $249,000 Global MLS
• 2026-05-29 Listing Removed — Global MLS
• 2026-04-28 Listed $299,000 Global MLS
• 2005-07-06 Sold (Public Records) $67,500 Public Records
• 2005-06-17 Sold (MLS) $67,500 Global MLS
• 2005-03-13 Listing Removed — Global MLS
• 2004-12-15 Listed $75,000 Global MLS
• 2003-02-24 Sold (Public Records) $33,000 Public Records

Property tax history

+1.1%/yr

Latest (2026): $6,350 · +0.0% YoY. Source: county tax records.