143 Clinton St · Albany, NY 12202

$179,900

3 bd · 2.0 ba · 1,902 sqft · MultiFamily public records · 94 Days on market

Built 1890 Average condition 1,306 sqft lot $95/sqft · 41% below area Est $305k · 41% under ↓ 5% since listing

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Financing can be conventional residential for this building (does not have to be commercial). Fantastic upside potential in this well maintained 2 family property featuring long term tenants and an on site income producing laundry operation. The lower level includes four coin operated washers and four coin operated dryers, currently offered exclusively to the owner's tenants, including his tenants from his surrounding properties. The laundry fluctuates anywhere from $250-$500 per month in additional income. The two residential units currently rent for $850 and $900 per month, providing immediate cash flow with significant room for growth. Both units are spacious, offering large bedrooms, generous closet space, hardwood flooring, and ceramic tiled bathrooms. The property is located in an area undergoing active redevelopment, with nearby lots being developed into brand new 2- & 3-unit buildings. This presents a strong opportunity to capitalize on the ongoing revitalization of the neighborhood. Fair market rents in ZIP code 12202 is $1,420 per unit, making this an excellent value add investment.

Key facts

• 1,306 sq ft lot
• Built 1890
• Listed 94 days

🏷️ Possibly a rental listed for sale. The $179,900 price doesn't fit this home's estimated sale value (~$305,230) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $578/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 5.7% in Albany — 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 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.7%/yr); 58 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,153/mo this rent would consume 72% of the median local household income ($53k/yr) (locally 935% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.75% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.54%
• DSCR: 2.23
• GRM: 4.8

CMA / ARV

• ARV (median comp): $305,230
• List price: $179,900
• Delta: -41.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 3rd Ave	0.09mi	4/2.0 (+1)	1,800 (-5%)	1mo	$155,000	$86	81
126 4th Ave	0.12mi	3/3.0	1,782 (-6%)	3mo	$210,000	$118	78
101 3rd Ave	0.21mi	4/3.0 (+1)	1,750 (-8%)	3mo	$180,000	$103	66
21-23 Liebel St	0.26mi	4/2.0 (+1)	1,800 (-5%)	10mo	$220,000	$122	66
248 Catherine St	0.68mi	4/2.0 (+1)	1,816 (-4%)	3mo	$185,000	$102	53
233 S Swan St	0.52mi	4/2.0 (+1)	2,015 (+6%)	16mo	$225,000	$112	47
59 Philip St	0.57mi	4/3.0 (+1)	2,178 (+14%)	20mo	$272,000	$125	24

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 48.3%
• Equity multiple: 4.74×
• Total profit: $188,374
• Equity at exit: $162,068

10-year hold

• IRR: 44.2%
• Equity multiple: 11.69×
• Total profit: $538,315
• Equity at exit: $349,506

Cash invested: $50,372 (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 12202

• Home prices YoY: 14.3%
• Rents YoY: 8.7%
• Active inventory: 58
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,153 high
• Mortgage (P&I): −$943
• Tax from tax record: −$316 /mo · $3,798/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $1,156

Break-even live

Break-even rent $1,690

Max offer price $179,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,154
Total (2 units)			$3,153

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	44d	1	0.48mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	44d	1	0.75mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.88mi
99 New Broadway Rensselaer, NY	2.0	1.0–2.0	946	$2,495	$2.64	14d	5	1.02mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	14d	17	1.04mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	14d	1	1.05mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	23d	1	1.06mi
100 New Broadway Rensselaer, NY	2.0	2.0	1248	$2,212	$1.77	14d	2	1.09mi
41 Dove St Albany, NY	2.0	2.5	2400	$2,350	$0.98	14d	1	1.13mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	1.13mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	44d	1	1.15mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	21d	1	1.32mi
25 Harrison Ave Rensselaer, NY	2.0	1.0	1400	$1,745	$1.25	19d	1	1.34mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	44d	1	1.35mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	44d	1	1.36mi

Listing history 6 events

1. 2026-06-02
   status $179,900 Pending 94 DOM
2. 2026-06-01
   days on market $179,900 Active 94 DOM
3. 2026-05-31
   days on market $179,900 Active 93 DOM
4. 2026-05-31
   days on market $179,900 Active 92 DOM
5. 2026-04-24
   price $179,900 1116-char remark

   Show marketing remark (1116 chars)

   Financing can be conventional residential for this building (does not have to be commercial). Fantastic upside potential in this well maintained 2 family property featuring long term tenants and an on site income producing laundry operation. The lower level includes four coin operated washers and four coin operated dryers, currently offered exclusively to the owner's tenants, including his tenants from his surrounding properties. The laundry fluctuates anywhere from $250-$500 per month in additional income. The two residential units currently rent for $850 and $900 per month, providing immediate cash flow with significant room for growth. Both units are spacious, offering large bedrooms, generous closet space, hardwood flooring, and ceramic tiled bathrooms. The property is located in an area undergoing active redevelopment, with nearby lots being developed into brand new 2- & 3-unit buildings. This presents a strong opportunity to capitalize on the ongoing revitalization of the neighborhood. Fair market rents in ZIP code 12202 is $1,420 per unit, making this an excellent value add investment.

6. 2026-02-27
   listed $189,900 Active 1116-char remark

   Show marketing remark (1116 chars)

   Financing can be conventional residential for this building (does not have to be commercial). Fantastic upside potential in this well maintained 2 family property featuring long term tenants and an on site income producing laundry operation. The lower level includes four coin operated washers and four coin operated dryers, currently offered exclusively to the owner's tenants, including his tenants from his surrounding properties. The laundry fluctuates anywhere from $250-$500 per month in additional income. The two residential units currently rent for $850 and $900 per month, providing immediate cash flow with significant room for growth. Both units are spacious, offering large bedrooms, generous closet space, hardwood flooring, and ceramic tiled bathrooms. The property is located in an area undergoing active redevelopment, with nearby lots being developed into brand new 2- & 3-unit buildings. This presents a strong opportunity to capitalize on the ongoing revitalization of the neighborhood. Fair market rents in ZIP code 12202 is $1,420 per unit, making this an excellent value add investment.

ⓘ 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: $3,798 · $316/mo
• Projected year-2 tax: $3,798 · $316/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $37,836
• − Mortgage interest: −$10,077
• − Property taxes: −$3,798
• − Insurance: −$900
• − Repairs & maintenance: −$3,027
• − Management: −$3,027
• − Depreciation: −$5,233
• Taxable income: $11,775
• Est. tax owed @ 24.0%: −$2,826
• After-tax cash flow: $11,047/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 · 6 photos

Average 55/100 Moderate rehab

This 2-family property has average condition with moderate rehab needs. Upgrades to the kitchen and exterior can significantly boost its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Minor kitchen backsplash — tile in good condition
• Minor interior walls — paint needs touch-up

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen can increase both resale and rental value
• Both exterior paint — fresh paint can improve curb appeal and property value
• Both landscaping — improved landscaping can enhance curb appeal and attract potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
kitchen backsplash · tile in good condition	Minor	$500–3,000
interior walls · paint needs touch-up	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen can increase both resale and rental value ↑
• Both exterior paint — fresh paint can improve curb appeal and property value ↑
• Both landscaping — improved landscaping can enhance curb appeal and attract potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,166
• Household income: $52,868
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 935.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 40% White 28% Hispanic / Latino 15% Two or more races 14% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 5%
• Common ancestry: Iranian 2% Romanian 1% Serbian 1%
• Foreign-born: 14% · Canada, Philippines, China
• Languages at home: 80% English-only · Spanish 10% Other Asian/Pacific 4% Arabic 1%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 38.05%
• Current HPI: 303.8939
• Rent YoY: ▲ 8.70%
• 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

-5.3% since first listed

2 events — show timeline

• 2026-04-24 Price Changed $179,900 Global MLS
• 2026-02-27 Listed $189,900 Global MLS