796 Livingston Ave · Albany, NY 12206

$199,000

3 bd · 2.5 ba · 1,672 sqft · MultiFamily public records · 76 Days on market

Built 1990 2,178 sqft lot $119/sqft · 33% below area Est $297k · 33% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great Investment Opportunity! This 4 bedroom, 2 bath is centric and perfectly located in a quiet street near to malls, stores and more. This well maintained, already rented and producing income property is a ideal investment to add to your portfolio, or to occupy one unit while living in another. Schedule a showing now!

Key facts

• 2,178 sq ft lot
• 2 parking spots
• Built 1990

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.2% 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 (+5.4%/yr); 89 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,459/mo this rent would consume 158% of the median local household income ($42k/yr) (locally 2035% 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.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $51k; list at $199k implies a 290% gain — meaningful room to come down on a strong offer.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.74% ✓
• Cap rate: 24.23%
• Cash-on-cash: 64.07%
• DSCR: 3.85
• GRM: 3.0

CMA / ARV

• ARV (median comp): $297,016
• List price: $199,000
• Delta: -33.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Rawson St	0.22mi	4/2.0 (+1)	1,661 (-1%)	7mo	$195,000	$117	76
338 Manning Blvd	0.47mi	3/2.0	1,680 (+0%)	9mo	$242,500	$144	68
455 Bradford St	0.30mi	4/2.0 (+1)	1,800 (+8%)	8mo	$230,000	$128	60
596 Livingston Ave	0.50mi	4/2.0 (+1)	1,584 (-5%)	3mo	$148,000	$93	58
34 Garfield Pl	0.12mi	4/2.0 (+1)	1,840 (+10%)	16mo	$80,000	$43	57
605 3rd St	0.30mi	4/2.0 (+1)	1,792 (+7%)	14mo	$152,000	$85	55
33 Lincoln Ave	0.41mi	4/2.0 (+1)	1,785 (+7%)	14mo	$215,000	$120	51
596 3rd St	0.32mi	4/2.0 (+1)	1,920 (+15%)	4mo	$150,000	$78	50
598-600 3rd St	0.32mi	4/2.0 (+1)	1,920 (+15%)	15mo	$245,000	$128	41
478 3rd St	0.64mi	4/2.0 (+1)	1,852 (+11%)	8mo	$119,000	$64	38
92 N Allen St	0.68mi	4/2.0 (+1)	1,768 (+6%)	23mo	$306,000	$173	33

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 65.8%
• Equity multiple: 4.06×
• Total profit: $170,609
• Equity at exit: $29,672

10-year hold

• IRR: 70.8%
• Equity multiple: 9.08×
• Total profit: $450,180
• Equity at exit: $17,206

Cash invested: $55,720 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $5,459 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$211 /mo · $2,535/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,146
• Net cashflow: $2,975

Break-even live

Break-even rent $1,693

Max offer price $199,000

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,460
Total (4 units)			$5,459

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	14d	1	0.30mi
526 Central Ave Albany, NY	1.0–2.0	1.0	957	$1,435	$1.50	43d	1	0.38mi
32 Richmond St Unit 2 Albany, NY	3.0	3.0	1248	$2,500	$2.00	14d	1	0.54mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	43d	1	0.72mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	43d	1	0.74mi
898 Lancaster St Unit 2 Albany, NY	2.0	1.0	1200	$1,700	$1.42	23d	1	0.74mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	43d	1	0.84mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	23d	1	0.91mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	23d	1	0.96mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	1.02mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	43d	1	1.04mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	14d	1	1.04mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	14d	1	1.05mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	1.06mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	23d	1	1.10mi
78 S Pine Ave Unit 2 Albany, NY	3.0	1.5	1541	$2,350	$1.52	14d	1	1.10mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	43d	1	1.11mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	1.11mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	1.12mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	21d	1	1.16mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	43d	1	1.25mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	1.26mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	43d	1	1.27mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	43d	1	1.30mi
726 Western Ave Albany, NY	4.0	2.5	1900	$2,800	$1.47	43d	1	1.32mi
255 Patroon Creek Blvd Albany, NY	1.0–3.0	1.0–2.0	1080	$2,559	$2.37	14d	22	1.34mi
830 Western Ave Albany, NY	4.0	2.5	1600	$2,700	$1.69	14d	1	1.41mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	23d	1	1.42mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	1.45mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	23d	1	1.50mi

Listing history 18 events

1. 2026-06-18
   days on market $199,000 Active 76 DOM
2. 2026-06-17
   days on market $199,000 Active 75 DOM
3. 2026-06-16
   days on market $199,000 Active 74 DOM
4. 2026-06-15
   days on market $199,000 Active 73 DOM
5. 2026-06-14
   days on market $199,000 Active 71 DOM
6. 2026-06-10
   days on market $199,000 Active 68 DOM
7. 2026-06-08
   days on market $199,000 Active 66 DOM
8. 2026-06-07
   days on market $199,000 Active 65 DOM
9. 2026-06-03
   days on market $199,000 Active 61 DOM
10. 2026-06-02
    days on market $199,000 Active 60 DOM
11. 2026-06-01
    days on market $199,000 Active 59 DOM
12. 2026-05-31
    days on market $199,000 Active 58 DOM
13. 2026-05-31
    days on market $199,000 Active 57 DOM
14. 2026-04-03
    listed $199,000 Active 326-char remark

    Show marketing remark (326 chars)

    Great Investment Opportunity! This 4 bedroom, 2 bath is centric and perfectly located in a quiet street near to malls, stores and more. This well maintained, already rented and producing income property is a ideal investment to add to your portfolio, or to occupy one unit while living in another. Schedule a showing now!

15. 2017-10-20
    soldstatus $51,050
16. 2017-10-17
    soldstatus $51,050 Closed (Final Sale) 412-char remark

    Show marketing remark (412 chars)

    Move in ready and priced to sell. This two family home that has been utilized as a one family for many years but can easily be utilized as a two family features HW floors, many newer windows and laminate floors, newer appliances, updated second floor bath, vinyl siding, fenced yard. Conveniently located near shopping, schools and highways. Home is covered by RealtyUSA's Home Warranty. Very Good Condition

17. 2017-08-16
    status Pend (Under Cntr) 412-char remark

    Show marketing remark (412 chars)

    Move in ready and priced to sell. This two family home that has been utilized as a one family for many years but can easily be utilized as a two family features HW floors, many newer windows and laminate floors, newer appliances, updated second floor bath, vinyl siding, fenced yard. Conveniently located near shopping, schools and highways. Home is covered by RealtyUSA's Home Warranty. Very Good Condition

18. 2017-08-10
    listed $49,900 New 412-char remark

    Show marketing remark (412 chars)

    Move in ready and priced to sell. This two family home that has been utilized as a one family for many years but can easily be utilized as a two family features HW floors, many newer windows and laminate floors, newer appliances, updated second floor bath, vinyl siding, fenced yard. Conveniently located near shopping, schools and highways. Home is covered by RealtyUSA's Home Warranty. Very Good Condition

ⓘ 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: $2,535 · $211/mo
• Projected year-2 tax: $2,949 · $246/mo
• Expected delta: +$414/yr (+$35/mo · 16.3%)

ⓘ 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 ≥97°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: $65,508
• − Mortgage interest: −$11,147
• − Property taxes: −$2,535
• − Insurance: −$995
• − Repairs & maintenance: −$5,241
• − Management: −$5,241
• − Depreciation: −$5,789
• Taxable income: $34,561
• Est. tax owed @ 24.0%: −$8,295
• After-tax cash flow: $27,404/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: 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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+298.8% since first listed

5 events — show timeline

• 2026-04-03 Listed $199,000 Global MLS
• 2017-10-20 Sold (Public Records) $51,050 Public Records
• 2017-10-17 Sold (MLS) $51,050 Global MLS
• 2017-08-16 Pending — Global MLS
• 2017-08-10 Listed $49,900 Global MLS

Property tax history

+3.3%/yr

Latest (2025): $2,535 · -0.7% YoY. Source: county tax records.