23 Mccarty Ave · Albany, NY 12202

$215,000

3 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 8 Days on market

Built 1890 2,178 sqft lot Est $180k · 19% over

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Why this score? — see what drove the D+ 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 +13.5/30.0
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

THIS HOME MUST BE SEEN. Beautiful 2-story home that shows pride in ownership. Large LR with gas stove and crown molding. Remodeled kitchen with new counters. Freshly painted. First floor laundry. All electrical, plumbing and vinyl siding were updated by current owner. Awesome backyard - private, beautifully landscaped, patio and borders Cherry Hill Mansion. Large bedrooms - some hardwood floors. Master has walk-in closet. Bath features double sink vanity. New front and rear doors. Plenty of parking. Excellent Condition

Key facts

• Cozy seating area
• Separate lot
• Crown molding

Tags

• CROWN MOLDING
• CLASSIC CRAFTSMANSHIP
• COZY SEATING AREA
• SEPARATE LOT
• OFF-STREET PARKING
• HISTORIC HOME

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence
• Construction: Vinyl siding; Wood siding
• Exterior features: Back yard fencing; Rubber roof

Interior

• Kitchen: Dishwasher; Gas oven; Microwave; Refrigerator
• Bedrooms: One bedroom on the first floor; Two bedrooms on the second floor
• Flooring: Hardwood
• Bathrooms: One full bathroom on the second floor; One half bathroom on the first floor
• Heating & cooling: Baseboard heating (natural gas); Wall cooling unit(s)
• Interior features: 6 total rooms; Crawl space basement; Hardwood flooring
• Laundry & utility: Washer and dryer; First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $10 ($118/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 $190k (11.9% below list).
• Recommended offer: $190k (11.9% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.7%/yr); 58 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k 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 $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $98k; list at $215k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $189,512 (11.9% below list)

Questions for the listing agent

1. Built in 1890 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.88% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $180,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Mccarty Ave	0.08mi	3/1.5	1,600 (+11%)	8mo	$181,500	$113	71
79 Broad St	0.50mi	3/1.0	1,364 (-5%)	2mo	$147,000	$108	64
22 Bogart Ter	0.44mi	3/1.5	1,480 (+3%)	15mo	$265,000	$179	62
144 S Hawk St	0.61mi	4/1.0 (+1)	1,449 (+1%)	10mo	$95,000	$66	56
16 Regent St	0.41mi	3/1.5	1,640 (+14%)	5mo	$205,000	$125	54
49.5 Alexander St	0.50mi	3/1.5	1,344 (-7%)	15mo	$150,000	$112	53
38 Raymo St	0.73mi	3/2.5	1,435 (-0%)	12mo	$215,000	$150	51
36 Raymo St	0.72mi	3/2.0	1,435 (-0%)	15mo	$196,000	$137	51
153 Second Ave	0.40mi	3/1.5	1,596 (+11%)	16mo	$195,000	$122	50
2 Sand St	0.56mi	3/1.0	1,252 (-13%)	0mo	$165,000	$132	50
286 2nd Ave	0.60mi	4/1.5 (+1)	1,276 (-11%)	10mo	$250,000	$196	40
42 O Connell St	0.70mi	2/1.0 (-1)	1,249 (-13%)	10mo	$155,000	$124	30

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: 26.2%
• Equity multiple: 3.12×
• Total profit: $127,765
• Equity at exit: $193,689

10-year hold

• IRR: 24.4%
• Equity multiple: 7.65×
• Total profit: $400,625
• Equity at exit: $417,698

Cash invested: $60,200 (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: $1,895 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$270 /mo · $3,243/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $10

Break-even live

Break-even rent $1,883

Max offer price $215,000

Occupancy floor 94%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Mount Hope Dr Albany, NY	2.0	1.5	1200	$2,000	$1.67	14d	1	0.18mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	21d	1	0.26mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	14d	1	0.26mi
22 Hurlbut St Albany, NY	3.0	1.0	1209	$2,050	$1.70	43d	1	0.79mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	43d	1	0.82mi
31 Bertha St Albany, NY	4.0	1.0	1116	$2,000	$1.79	23d	1	0.83mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	44d	1	0.84mi
168 S Pearl St Albany, NY	3.0	1.5	1044	$1,800	$1.72	23d	1	0.87mi
151 S Pearl St Albany, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.92mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	43d	1	0.94mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	14d	1	0.94mi
135 Madison Ave Unit 2 Albany, NY	2.0	1.0	1000	$1,400	$1.40	43d	1	0.96mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	43d	1	0.98mi
4 Irving St Unit 2nd Floor Albany, NY	3.0	1.0	1000	$1,695	$1.70	43d	1	1.02mi
50 Southern Blvd Albany, NY	3.0	1.0	1200	$1,650	$1.38	14d	1	1.05mi
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	43d	1	1.07mi
86 Hackett Blvd Albany, NY	2.0	1.0	1100	$1,900	$1.73	23d	1	1.12mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	43d	1	1.13mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	1.13mi
341 Madison Ave Albany, NY	2.0	1.0	1000	$1,800	$1.80	14d	1	1.15mi
364 Madison Ave Albany, NY	2.0	2.0	1150	$1,850	$1.61	21d	1	1.16mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	23d	1	1.26mi
149 Jay St Albany, NY	2.0	1.0	1000	$1,750	$1.75	43d	1	1.30mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	43d	1	1.31mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	23d	1	1.33mi
99 New Broadway Rensselaer, NY	2.0	1.0–2.0	946	$2,495	$2.64	14d	5	1.34mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	1.36mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	14d	17	1.38mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	43d	1	1.40mi
100 New Broadway Rensselaer, NY	2.0	2.0	1248	$2,212	$1.77	14d	2	1.40mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	43d	1	1.42mi

Listing history 6 events

1. 2026-06-18
   days on market $215,000 Active 8 DOM
2. 2026-06-17
   days on market $215,000 Active 7 DOM
3. 2026-06-16
   days on market $215,000 Active 6 DOM
4. 2026-06-15
   days on market $215,000 Active 5 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $215,000 Active 3 DOM

ⓘ 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: $3,243 · $270/mo
• Projected year-2 tax: $3,438 · $287/mo
• Expected delta: +$195/yr (+$16/mo · 6.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $22,741
• − Mortgage interest: −$12,043
• − Property taxes: −$3,243
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$6,255
• Taxable loss: −$3,513
• Est. tax savings @ 24.0%: +$843
• After-tax cash flow: $961/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): 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

+72.0% since first listed

9 events — show timeline

• 2026-06-10 Listed $215,000 Global MLS
• 2016-06-07 Sold (Public Records) $98,000 Public Records
• 2016-06-06 Sold (MLS) $98,000 Global MLS
• 2016-04-20 Pending — Global MLS
• 2016-04-12 Listed $96,000 Global MLS
• 2013-07-19 Listing Removed — Global MLS
• 2013-05-01 Listed $95,000 Global MLS
• 2011-12-04 Listing Removed — Global MLS
• 2011-06-03 Listed $125,000 Global MLS

Property tax history

+6.4%/yr

Latest (2025): $3,243 · +2.9% YoY. Source: county tax records.