501 Paige St · Schenectady, NY 12307

$285,000

6 bd · 2.0 ba · 2,550 sqft · MultiFamily public records · 172 Days on market

Built 1900 3,958 sqft lot $112/sqft · 50% above area Est $190k · 50% 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 +20.7/30.0
• Appreciation +10.0/10.0
• DSCR +6.6/10.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Beautiful Two family situated close to Downtown . This property features four bedrooms on each floor . Corner Lot with off street parking. beautiful for owner occupant or rental income.

Key facts

• 3,958 sq ft lot
• Built 1900
• Listed 171 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $251k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 6.3% in Schenectady — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 33 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $75k; list at $285k implies a 280% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.09% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 7.6

CMA / ARV

• ARV (median comp): $190,276
• List price: $285,000
• Delta: 47.10%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Mumford St	0.08mi	6/2.0	2,544 (-0%)	2mo	$15,000	$6	95
421 Summit Ave	0.11mi	6/2.0	2,600 (+2%)	2mo	$308,000	$118	90
1013 Delamont Ave	0.33mi	6/2.0	2,576 (+1%)	1mo	$111,500	$43	82
222 Duane Ave	0.37mi	6/2.0	2,700 (+6%)	1mo	$329,900	$122	72
25 Steuben St	0.43mi	6/3.0	2,640 (+4%)	1mo	$265,000	$100	69
316 Georgetta Dix Plz	0.29mi	6/4.0	2,664 (+4%)	4mo	$262,500	$99	67
16 Hawk St	0.65mi	6/2.0	2,584 (+1%)	0mo	$370,000	$143	67
1 Chestnut St	0.45mi	6/3.0	2,406 (-6%)	2mo	$290,000	$121	64
820 Strong St	0.20mi	6/4.0	2,880 (+13%)	3mo	$41,000	$14	58
318 Georgetta Dix Plz	0.29mi	7/4.0 (+1)	2,806 (+10%)	4mo	$200,000	$71	53
5 Hawk St	0.65mi	6/2.0	2,294 (-10%)	1mo	$325,000	$142	52
21 Hawk St	0.69mi	6/2.0	2,294 (-10%)	0mo	$334,750	$146	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 3.25×
• Total profit: $179,790
• Equity at exit: $256,751

10-year hold

• IRR: 24.8%
• Equity multiple: 7.40×
• Total profit: $510,438
• Equity at exit: $553,692

Cash invested: $79,800 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $3,111 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$460 /mo · $5,524/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $384

Break-even live

Break-even rent $2,625

Max offer price $285,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,110
Total (2 units)			$3,111

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-03
   days on market $285,000 Active 172 DOM
2. 2026-06-02
   days on market $285,000 Active 171 DOM
3. 2026-06-01
   pricedays on marketlisting id $285,000 Active 170 DOM
4. 2026-05-31
   days on market $279,900 Active 31 DOM
5. 2026-05-31
   days on market $279,900 Active 30 DOM
6. 2026-05-05
   status Active 185-char remark

   Show marketing remark (185 chars)

   Beautiful Two family situated close to Downtown . This property features four bedrooms on each floor . Corner Lot with off street parking. beautiful for owner occupant or rental income.

7. 2026-04-26
   status Pending 185-char remark

   Show marketing remark (185 chars)

   Beautiful Two family situated close to Downtown . This property features four bedrooms on each floor . Corner Lot with off street parking. beautiful for owner occupant or rental income.

8. 2026-04-19
   listed $279,900 Active 185-char remark

   Show marketing remark (185 chars)

   Beautiful Two family situated close to Downtown . This property features four bedrooms on each floor . Corner Lot with off street parking. beautiful for owner occupant or rental income.

9. 2026-04-17
   historical $1,500
10. 2026-03-30
    listed $1,500
11. 2026-03-12
    price $285,000 33-char remark

    Show marketing remark (33 chars)

    newly renovated multi family home

12. 2025-12-13
    listed $300,000 Active 33-char remark

    Show marketing remark (33 chars)

    newly renovated multi family home

13. 2023-10-20
    historical
14. 2023-08-04
    price $259,900
15. 2023-04-19
    listed $249,900 Active
16. 2019-10-11
    soldstatus $75,000

ⓘ 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: $5,524 · $460/mo
• Projected year-2 tax: $5,524 · $460/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 3/10 Moderate
• 🌡 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: $37,332
• − Mortgage interest: −$15,964
• − Property taxes: −$5,524
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,987
• − Management: −$2,987
• − Depreciation: −$8,291
• Taxable income: $155
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $4,572/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
• City population: 141,369
• Population (ZIP): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

+273.2% since first listed

11 events — show timeline

• 2026-05-05 Relisted — Global MLS
• 2026-04-26 Pending — Global MLS
• 2026-04-19 Listed $279,900 Global MLS
• 2026-04-17 Rental Removed $1,500 TURBOTENANT
• 2026-03-30 Listed for Rent $1,500 TURBOTENANT
• 2026-03-12 Price Changed $285,000 ForSaleByOwner.com
• 2025-12-13 Listed $300,000 ForSaleByOwner.com
• 2023-10-20 Listing Removed — Global MLS
• 2023-08-04 Price Changed $259,900 Global MLS
• 2023-04-19 Listed $249,900 Global MLS
• 2019-10-11 Sold (Public Records) $75,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $5,524 · +5.6% YoY. Source: county tax records.