11 River St · Schenectady, NY 12305

$200,000

4 bd · 2.0 ba · 1,930 sqft · MultiFamily public records · 183 Days on market

Built 1875 5,227 sqft lot $104/sqft · 29% below area Est $282k · 29% under

---

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 +15.9/30.0
• ARV discount +15.0/15.0
• Appreciation +6.6/10.0
• 1% rule +5.5/10.0
• DSCR +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

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

A spacious 4-bedroom, 2-bath single-family home offering comfort, character, and convenience in the heart of Schenectady. Conveniently located near downtown Schenectady, Mohawk Harbor, restaurants, and shops. Bring your vision and unlock the potential of 11 River Street!

Key facts

• Mohawk harbor
• Heart of schenectady
• Single-family home

Tags

• SINGLE-FAMILY HOME
• HEART OF SCHENECTADY
• NEAR DOWNTOWN SCHENECTADY
• MOHAWK HARBOR
• RESTAURANTS
• SHOPS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $-365 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (32.2% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $136k (32.2% below list) — sets the bar for cash-flow.

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: schools C-, 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.
• Market conditions: 20 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $2,093/mo this rent would consume 47% of the median local household income ($53k/yr) (locally 962% 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 $8k of equity ($1k loan paydown + $6k appreciation (3.2% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $155k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $460/mo; built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,522 (32.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.05% ✓
• Cap rate: 6.87%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 8.0

CMA / ARV

• ARV (median comp): $282,272
• List price: $200,000
• Delta: -29.15%
• 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
206 Front St	0.06mi	4/2.0	1,880 (-3%)	2mo	$299,000	$159	91
117 N College St	0.15mi	3/2.0 (-1)	1,944 (+1%)	3mo	$170,000	$87	84
11 John St	0.08mi	5/2.0 (+1)	1,992 (+3%)	20mo	$215,000	$108	69
321 Front St	0.14mi	4/2.0	1,744 (-10%)	15mo	$220,000	$126	65
515 South Ave	0.29mi	5/3.0 (+1)	2,070 (+7%)	6mo	$172,000	$83	60
1524 Devine St	0.57mi	4/2.0	1,728 (-10%)	22mo	$165,000	$95	38
750 Eastern Ave Ave	0.74mi	5/2.0 (+1)	2,210 (+14%)	21mo	$200,000	$90	19

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $3,405
• Equity at exit: $92,201

10-year hold

• IRR: 4.8%
• Equity multiple: 1.76×
• Total profit: $42,685
• Equity at exit: $143,885

Cash invested: $56,000 (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 12305

• Home prices YoY: 1.2%
• Active inventory: 20
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,093 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$426 /mo · $5,114/yr
• Insurance: −$83
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-365

Break-even live

Break-even rent $2,555

Max offer price $135,522

Occupancy floor —

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	43d	1	0.54mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	13d	9	0.63mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	43d	1	0.85mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	23d	1	0.89mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,445	$2.21	14d	1	0.91mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	43d	1	0.92mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	14d	1	1.44mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	43d	1	1.46mi

Listing history 23 events

1. 2026-06-18
   days on market $200,000 Active 183 DOM
2. 2026-06-17
   days on market $200,000 Active 182 DOM
3. 2026-06-16
   days on market $200,000 Active 181 DOM
4. 2026-06-15
   days on market $200,000 Active 180 DOM
5. 2026-06-14
   days on market $200,000 Active 178 DOM
6. 2026-06-13
   days on market $200,000 Active 177 DOM
7. 2026-06-10
   days on market $200,000 Active 175 DOM
8. 2026-06-09
   days on market $200,000 Active 174 DOM
9. 2026-06-08
   days on market $200,000 Active 173 DOM
10. 2026-06-07
    days on market $200,000 Active 172 DOM
11. 2026-06-03
    days on market $200,000 Active 168 DOM
12. 2026-06-02
    pricedays on market $200,000 Active 167 DOM
13. 2026-06-01
    days on market $210,000 Active 166 DOM
14. 2026-05-31
    days on market $210,000 Active 165 DOM
15. 2026-05-31
    days on market $210,000 Active 164 DOM
16. 2026-01-14
    status Active 272-char remark

    Show marketing remark (272 chars)

    A spacious 4-bedroom, 2-bath single-family home offering comfort, character, and convenience in the heart of Schenectady. Conveniently located near downtown Schenectady, Mohawk Harbor, restaurants, and shops. Bring your vision and unlock the potential of 11 River Street!

17. 2025-11-26
    status Pending 272-char remark

    Show marketing remark (272 chars)

    A spacious 4-bedroom, 2-bath single-family home offering comfort, character, and convenience in the heart of Schenectady. Conveniently located near downtown Schenectady, Mohawk Harbor, restaurants, and shops. Bring your vision and unlock the potential of 11 River Street!

18. 2025-10-29
    listed $210,000 Active 272-char remark

    Show marketing remark (272 chars)

    A spacious 4-bedroom, 2-bath single-family home offering comfort, character, and convenience in the heart of Schenectady. Conveniently located near downtown Schenectady, Mohawk Harbor, restaurants, and shops. Bring your vision and unlock the potential of 11 River Street!

19. 2020-01-13
    soldstatus $155,000
20. 2020-01-08
    soldstatus $155,000 Closed (Final Sale) 604-char remark

    Show marketing remark (604 chars)

    This home is gorgeous inside! Pictures do not do it justice. New Roof being done now. Newer wiring, plumbing, heating, hot water heater, hardwood floors, and beautiful kitchen with granite counter tops, it's ALL been done. LR, DR, 3 large bedrooms with walk-in closets, and every room is newly, beautifully painted. This house is a MUST SEE, with it's rich, warm interior, large windows to let in the light, and it's move-in ready. Owner has taken incredible care over the years. All ready up for partial bathroom install downstairs. Includes newer appliances and has 2 zoned heating. Excellent Condition

21. 2019-11-04
    status Pend (Under Cntr) 604-char remark

    Show marketing remark (604 chars)

    This home is gorgeous inside! Pictures do not do it justice. New Roof being done now. Newer wiring, plumbing, heating, hot water heater, hardwood floors, and beautiful kitchen with granite counter tops, it's ALL been done. LR, DR, 3 large bedrooms with walk-in closets, and every room is newly, beautifully painted. This house is a MUST SEE, with it's rich, warm interior, large windows to let in the light, and it's move-in ready. Owner has taken incredible care over the years. All ready up for partial bathroom install downstairs. Includes newer appliances and has 2 zoned heating. Excellent Condition

22. 2019-10-23
    listed $129,900 New 604-char remark

    Show marketing remark (604 chars)

    This home is gorgeous inside! Pictures do not do it justice. New Roof being done now. Newer wiring, plumbing, heating, hot water heater, hardwood floors, and beautiful kitchen with granite counter tops, it's ALL been done. LR, DR, 3 large bedrooms with walk-in closets, and every room is newly, beautifully painted. This house is a MUST SEE, with it's rich, warm interior, large windows to let in the light, and it's move-in ready. Owner has taken incredible care over the years. All ready up for partial bathroom install downstairs. Includes newer appliances and has 2 zoned heating. Excellent Condition

23. 2003-12-04
    soldstatus $65,250

ⓘ 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: $5,114 · $426/mo
• Projected year-2 tax: $5,114 · $426/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% 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 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: $25,121
• − Mortgage interest: −$11,203
• − Property taxes: −$5,114
• − Insurance: −$6,525
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − Depreciation: −$5,818
• Taxable loss: −$7,559
• Est. tax savings @ 24.0%: +$1,814
• After-tax cash flow: $-2,566/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): 7,356
• Household income: $53,326
• Rent vs Own: 85.4% rent · 14.6% own
• Severe rent burden: 962.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Black 20% Two or more races 14% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Serbian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Russian/Polish/Slavic 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: ▲ 3.20%
• Current HPI: 276.7183
• 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

+221.8% since first listed

8 events — show timeline

• 2026-01-14 Relisted — Global MLS
• 2025-11-26 Pending — Global MLS
• 2025-10-29 Listed $210,000 Global MLS
• 2020-01-13 Sold (Public Records) $155,000 Public Records
• 2020-01-08 Sold (MLS) $155,000 Global MLS
• 2019-11-04 Pending — Global MLS
• 2019-10-23 Listed $129,900 Global MLS
• 2003-12-04 Sold (Public Records) $65,250 Public Records

Property tax history

+2.3%/yr

Latest (2025): $5,114 · +3.8% YoY. Source: county tax records.