233 Sixteenth St · Schenectady, NY 12306

$199,900

3 bd · 1.0 ba · 920 sqft · SingleFamily public records · 6 Days on market

Built 1925 6,098 sqft lot $217/sqft · 15% below area Est $234k · 15% under

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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 +19.0/30.0
• ARV discount +14.1/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming bungalow at 233 Sixteenth St offers the perfect blend of simplicity and potential. Featuring 3 bedrooms, 1 full bath. This home is ideal for anyone looking for easy one-floor living with room to make it their own.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1925

Property features AI

Exterior

• Parking: Has garage (1 garage space); Six total parking spaces; Off-street parking and driveway
• Utilities: 150 amp electric service; Public water; Public sewer
• Home design: Single family residence
• Construction: Vinyl siding
• Exterior features: Shingle roof

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms on the first floor
• Flooring: Vinyl; Carpet; Hardwood
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $208 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (1.2% below list).
• Recommended offer: $197k (1.2% below list) — sets the bar for 1% rule.

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: 181 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,432 (1.2% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 8.4

CMA / ARV

• ARV (median comp): $233,978
• List price: $199,900
• Delta: -14.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Sixteenth St	0.00mi	3/1.0	920 (0%)	0mo	$205,000	$223	100
438 Olean St	0.44mi	3/1.5	912 (-1%)	13mo	$195,000	$214	65
3041 Granville Ave	0.66mi	3/1.0	920 (0%)	8mo	$202,000	$220	62
2732 Maida Ln	0.43mi	3/1.0	858 (-7%)	12mo	$277,000	$323	59
458 Eleventh St	0.47mi	2/1.0 (-1)	864 (-6%)	11mo	$170,000	$197	54
2781 Maida Ln	0.51mi	2/1.0 (-1)	972 (+6%)	12mo	$265,000	$273	52
392 Shannon St	0.48mi	3/2.0	1,000 (+9%)	14mo	$150,000	$150	47
474 Summer St	0.55mi	2/1.0 (-1)	858 (-7%)	15mo	$210,000	$245	46
429 Marengo St	0.57mi	3/1.0	1,056 (+15%)	6mo	$305,900	$290	44
2715 Plunkett Ave	0.62mi	2/1.0 (-1)	980 (+6%)	22mo	$187,000	$191	37

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-19,105
• Equity at exit: $29,806

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $504
• Equity at exit: $17,284

Cash invested: $55,972 (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 12306

• Home prices YoY: -23.8%
• Active inventory: 181
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,974 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$220 /mo · $2,636/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $208

Break-even live

Break-even rent $1,710

Max offer price $199,900

Occupancy floor 84%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 Cramer Ave Schenectady, NY	3.0	1.0	1100	$2,295	$2.09	14d	1	0.66mi
105 Long Pond Dr Schenectady, NY	1.0–2.0	1.0–2.0	925	$1,900	$2.05	14d	1	0.78mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	14d	1	0.80mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	14d	1	0.83mi
3 Lent Ct Unit 1 Schenectady, NY	2.0	1.0	800	$1,375	$1.72	23d	1	1.15mi

Listing history 2 events

1. 2026-05-06
   status Pending 227-char remark
2. 2026-04-30
   listed $199,900 Active 227-char remark

ⓘ 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: $2,636 · $220/mo
• Projected year-2 tax: $3,007 · $251/mo
• Expected delta: +$371/yr (+$31/mo · 14.1%)

ⓘ 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 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: $23,692
• − Mortgage interest: −$11,198
• − Property taxes: −$2,636
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$5,815
• Taxable loss: −$747
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $2,681/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): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 629.0

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: 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

Price history

+2.6% since first listed

3 events — show timeline

• 2026-06-12 Sold (MLS) $205,000 Global MLS
• 2026-05-06 Pending — Global MLS
• 2026-04-30 Listed $199,900 Global MLS

Property tax history

+0.3%/yr

Latest (2025): $2,636 · +10.4% YoY. Source: county tax records.