1060 Raymond St · Schenectady, NY 12308

$195,000

6 bd · 2.0 ba · 1,780 sqft · MultiFamily public records · 65 Days on market

Built 1920 3,920 sqft lot $110/sqft · 44% below area Est $350k · 44% under

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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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 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 MLS

Lovely 2 family duplex in the heart of town! Assignment listing.

Key facts

• 3,920 sq ft lot
• 4 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 6.3% 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: schools C-, 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.
• Market conditions: 79 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $2,893/mo this rent would consume 55% of the median local household income ($63k/yr) (locally 1016% 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $55k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; list at $195k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.48% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.82%
• DSCR: 1.70
• GRM: 5.6

CMA / ARV

• ARV (median comp): $350,418
• List price: $195,000
• Delta: -44.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1109 Raymond St	0.07mi	6/2.0	1,708 (-4%)	11mo	$300,000	$176	81
1720 Foster Ave	0.48mi	5/2.0 (-1)	1,888 (+6%)	12mo	$190,000	$101	53
1643 Van Vranken Ave	0.43mi	6/3.0	2,040 (+15%)	12mo	$210,000	$103	41
1660 Carrie St	0.47mi	6/2.0	2,000 (+12%)	21mo	$198,000	$99	40
1540 Foster Ave	0.67mi	6/2.0	2,024 (+14%)	7mo	$214,650	$106	40

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: 6.8%
• Equity multiple: 1.26×
• Total profit: $14,416
• Equity at exit: $29,075

10-year hold

• IRR: 16.2%
• Equity multiple: 2.32×
• Total profit: $72,297
• Equity at exit: $16,860

Cash invested: $54,600 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 79
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,893 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$462 /mo · $5,543/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $720

Break-even live

Break-even rent $1,982

Max offer price $195,000

Occupancy floor 70%

Sensitivity live

Price	-10% $830	-5% $775	+0% $720	+5% $664	+10% $609
Rent	-10% $491	-5% $605	+0% $720	+5% $834	+10% $948
Rate	-1.0pp $818	-0.5pp $769	base $720	+0.5pp $669	+1.0pp $618

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,894
Total (2 units)			$2,893

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $195,000 Active 65 DOM
2. 2026-06-18
   days on market $195,000 Active 62 DOM
3. 2026-06-17
   days on market $195,000 Active 61 DOM
4. 2026-06-16
   days on market $195,000 Active 60 DOM
5. 2026-06-15
   days on market $195,000 Active 59 DOM
6. 2026-06-14
   days on market $195,000 Active 57 DOM
7. 2026-06-13
   pricedays on market $195,000 Active 56 DOM
8. 2026-06-10
   days on market $210,000 Active 54 DOM
9. 2026-06-09
   days on market $210,000 Active 53 DOM
10. 2026-06-08
    days on market $210,000 Active 52 DOM
11. 2026-06-07
    pricedays on market $210,000 Active 51 DOM
12. 2026-06-03
    days on market $219,999 Active 47 DOM
13. 2026-06-02
    days on market $219,999 Active 46 DOM
14. 2026-06-01
    days on market $219,999 Active 45 DOM
15. 2026-05-31
    days on market $219,999 Active 44 DOM
16. 2026-05-31
    days on market $219,999 Active 43 DOM
17. 2026-04-28
    price $219,999 64-char remark

    Show marketing remark (64 chars)

    Lovely 2 family duplex in the heart of town! Assignment listing.

18. 2026-04-23
    price $229,999 64-char remark

    Show marketing remark (64 chars)

    Lovely 2 family duplex in the heart of town! Assignment listing.

19. 2026-04-17
    listed $249,999 Active 64-char remark

    Show marketing remark (64 chars)

    Lovely 2 family duplex in the heart of town! Assignment listing.

20. 2016-10-15
    historical
21. 2016-08-29
    price $69,900
22. 2016-04-14
    listed $74,900 New
23. 2003-09-03
    soldstatus $69,000

ⓘ 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: $5,543 · $462/mo
• Projected year-2 tax: $5,543 · $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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $34,716
• − Mortgage interest: −$10,923
• − Property taxes: −$5,543
• − Insurance: −$975
• − Repairs & maintenance: −$2,777
• − Management: −$2,777
• − Depreciation: −$5,673
• Taxable income: $6,047
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $7,185/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: 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

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 · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• 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

Price history

+218.8% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $219,999 Global MLS
• 2026-04-23 Price Changed $229,999 Global MLS
• 2026-04-17 Listed $249,999 Global MLS
• 2016-10-15 Listing Removed — Global MLS
• 2016-08-29 Price Changed $69,900 Global MLS
• 2016-04-14 Listed $74,900 Global MLS
• 2003-09-03 Sold (Public Records) $69,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $5,543 · +2.6% YoY. Source: county tax records.