821 Strong St · Schenectady, NY 12307

$274,500

2 bd · 2.0 ba · 1,496 sqft · MultiFamily public records · 25 Days on market

Built 1910 0.41 ac lot Est $224k · 22% 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 +25.3/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +5.4/10.0
• 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: 2 units. confirmed

Listing remarks MLS

2 Family spacious home with 1br on each. Home needs some TLC to bring it back to life. Repair estimated reserve is $45k. City owned. Please contact LA with questions.

Key facts

• Consistent upkeep
• Buildable extra lot
• Modern finishes

Tags

• BUILDABLE EXTRA LOT
• TWO-FAMILY PROPERTY
• FLEXIBLE LAYOUT CONFIGURATION
• MODERN FINISHES
• CONSISTENT UPKEEP

Property features AI

Finance

• Other: Lot size approximately 0.41 acre

Exterior

• Parking: Garage; Off-street parking; Total parking for about 20 vehicles; 1 garage space
• Utilities: Public water; Public sewer; 100 Amp electric service with circuit breakers
• Home design: Duplex; Vinyl siding; Living area approximately 1,500
• Construction: Vinyl siding construction
• Exterior features: Shingle roof; Other exterior features; Level, cleared lot

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms (one on the 1st level, one on the 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating
• Interior features: Vinyl flooring; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $274k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive. Per door: $314/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $274k).
• Recommended offer: $270k (1.5% below list) — sets the bar for market timing.

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: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 33 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k 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 $77k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($270k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $500; list at $274k implies a 54800% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $270,382 (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 1910 — 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: 1.04% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $224,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1339 Santa Fe St	0.48mi	2/2.0	1,462 (-2%)	19mo	$152,000	$104	58
276 Duane Ave	0.36mi	3/2.0 (+1)	1,300 (-13%)	16mo	$195,000	$150	43
1258 Webster St	0.71mi	3/2.0 (+1)	1,470 (-2%)	20mo	$185,500	$126	42
1355 Chrisler Ave	0.63mi	3/2.0 (+1)	1,661 (+11%)	14mo	$254,900	$153	35

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: 31.4%
• Equity multiple: 3.46×
• Total profit: $189,355
• Equity at exit: $247,291

10-year hold

• IRR: 27.2%
• Equity multiple: 7.84×
• Total profit: $525,940
• Equity at exit: $533,293

Cash invested: $76,860 (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: 16.0×

Monthly cashflow live

• Estimated rent: $2,857 medium
• Mortgage (P&I): −$1,440
• Tax from tax record: −$75 /mo · $906/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $628

Break-even live

Break-even rent $2,062

Max offer price $274,500

Occupancy floor 73%

Sensitivity live

Price	-10% $783	-5% $705	+0% $628	+5% $550	+10% $472
Rent	-10% $402	-5% $515	+0% $628	+5% $741	+10% $853
Rate	-1.0pp $766	-0.5pp $697	base $628	+0.5pp $557	+1.0pp $484

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,856
Total (2 units)			$2,857

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: $68,625
• Closing costs: $8,235
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	24d	1	0.21mi
922 State St Schenectady, NY	1.0–2.0	1.0	855	$1,390	$1.63	15d	6	0.52mi
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	15d	1	0.58mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	45d	1	0.59mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,500	$1.63	20d	1	0.69mi
192 Erie Blvd Apt 502 Schenectady, NY	1.0	1.0	915	$1,495	$1.63	15d	1	0.72mi
192 Erie Blvd Unit 508 Schenectady, NY	1.0	1.0	932	$1,715	$1.84	45d	1	0.72mi
192 Erie Blvd Apt 607 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	45d	1	0.72mi
192 Erie Blvd Apt 706 Schenectady, NY	1.0	1.0	889	$1,600	$1.80	24d	1	0.72mi
192 Erie Blvd Schenectady, NY	1.0	1.0	895	$1,595	$1.78	22d	1	0.72mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	20d	1	0.72mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	24d	1	0.82mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$867	$0.84	15d	9	0.84mi
225 State St Schenectady, NY	1.0	1.0	850	$1,325	$1.56	15d	4	0.85mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	24d	1	0.91mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	15d	1	0.93mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	15d	1	1.07mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	45d	1	1.09mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	15d	1	1.10mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	15d	1	1.21mi
1093 Park Ave Schenectady, NY	1.0	1.0	900	$1,200	$1.33	15d	1	1.22mi
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	20d	1	1.22mi
830 Plymouth Ave Schenectady, NY	2.0	1.0	1200	$1,700	$1.42	20d	1	1.32mi

Listing history 31 events

1. 2026-06-21
   days on market $274,500 Active 25 DOM
2. 2026-06-18
   days on market $274,500 Active 22 DOM
3. 2026-06-17
   days on market $274,500 Active 21 DOM
4. 2026-06-16
   days on market $274,500 Active 20 DOM
5. 2026-06-15
   days on market $274,500 Active 19 DOM
6. 2026-06-14
   days on market $274,500 Active 17 DOM
7. 2026-06-13
   days on market $274,500 Active 16 DOM
8. 2026-06-10
   days on market $274,500 Active 14 DOM
9. 2026-06-09
   days on market $274,500 Active 13 DOM
10. 2026-06-08
    days on market $274,500 Active 12 DOM
11. 2026-06-07
    days on market $274,500 Active 11 DOM
12. 2026-06-03
    days on market $274,500 Active 7 DOM
13. 2026-06-02
    days on market $274,500 Active 6 DOM
14. 2026-06-01
    days on market $274,500 Active 5 DOM
15. 2026-05-31
    days on market $274,500 Active 4 DOM
16. 2026-05-31
    days on market $274,500 Active 3 DOM
17. 2026-05-27
    listed $274,500 Active
18. 2026-04-13
    historical
19. 2026-02-09
    price $313,000
20. 2026-01-30
    price $318,000
21. 2026-01-15
    listed $324,000 Active
22. 2022-04-08
    status Pending 166-char remark

    Show marketing remark (166 chars)

    2 Family spacious home with 1br on each. Home needs some TLC to bring it back to life. Repair estimated reserve is $45k. City owned. Please contact LA with questions.

23. 2021-11-17
    listed $37,900 New 166-char remark

    Show marketing remark (166 chars)

    2 Family spacious home with 1br on each. Home needs some TLC to bring it back to life. Repair estimated reserve is $45k. City owned. Please contact LA with questions.

24. 2018-02-28
    soldstatus $500
25. 2017-04-21
    soldstatus $500
26. 2006-08-16
    soldstatus $18,500
27. 2006-07-11
    historical
28. 2006-04-25
    listed $21,000
29. 2003-11-05
    soldstatus $50,000
30. 2003-10-31
    soldstatus $32,600
31. 2003-10-16
    listed $50,000

ⓘ 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: $906 · $75/mo
• Projected year-2 tax: $2,772 · $231/mo
• Expected delta: +$1,867/yr (+$156/mo · 206.1%)

ⓘ 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: $34,284
• − Mortgage interest: −$15,376
• − Property taxes: −$906
• − Insurance: −$1,372
• − Repairs & maintenance: −$2,743
• − Management: −$2,743
• − Depreciation: −$7,985
• Taxable income: $3,159
• Est. tax owed @ 24.0%: −$758
• After-tax cash flow: $6,774/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

+449.0% since first listed

15 events — show timeline

• 2026-05-27 Listed $274,500 Global MLS
• 2026-04-13 Listing Removed — Global MLS
• 2026-02-09 Price Changed $313,000 Global MLS
• 2026-01-30 Price Changed $318,000 Global MLS
• 2026-01-15 Listed $324,000 Global MLS
• 2022-04-08 Pending — Global MLS
• 2021-11-17 Listed $37,900 Global MLS
• 2018-02-28 Sold (Public Records) $500 Public Records
• 2017-04-21 Sold (Public Records) $500 Public Records
• 2006-08-16 Sold (MLS) $18,500 Global MLS
• 2006-07-11 Listing Removed — Global MLS
• 2006-04-25 Listed $21,000 Global MLS
• 2003-11-05 Sold (Public Records) $50,000 Public Records
• 2003-10-31 Sold (MLS) $32,600 Global MLS
• 2003-10-16 Listed $50,000 Global MLS

Property tax history

-6.1%/yr

Latest (2020): $906 · +0.0% YoY. Source: county tax records.