1503 Rugby Rd · Schenectady, NY 12308

$299,000

6 bd · 2.0 ba · 2,782 sqft · MultiFamily public records · 9 Days on market

Built 1902 5,662 sqft lot Est $317k · 6% 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 +22.4/30.0
• ARV discount +10.1/15.0
• DSCR +7.2/10.0
• 1% rule +6.6/10.0
• 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

Multi-family units

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

Listing remarks MLS

Investors and first-time homebuyers are invited to explore 1503 Rugby Rd! This recently updated two-family home features three bedrooms and one bath on each level, along with new flooring, kitchens, bathrooms, and a new roof. Enjoy the convenience of a two-car garage and parking for 3+ cars. This income-generating property is an excellent addition to your portfolio or a perfect start to your investment journey. Located near public transportation, Ellis Hospital, local restaurants, and shopping in the Schenectady School District.

Key facts

• Two-family home
• Wrap-around porch
• Full walk-up attic

Tags

• TWO-FAMILY HOME
• WRAP-AROUND PORCH
• FULL WALK-UP ATTIC
• FULL UNFINISHED BASEMENT
• AMPLE OFF-STREET PARKING
• NATURAL GAS FORCED AIR HEAT

Property features AI

Exterior

• Parking: Detached garage; Off-street paved parking; Total 4 parking spaces (2 garage spaces)
• Utilities: Public water; Public sewer
• Home design: Duplex; 2 units
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Wrap-around porch; Patio/porch; Other exterior features

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath; Total on property: 2 full bathrooms
• Heating & cooling: Forced air heating; Steam heating; Natural gas
• Interior features: Vinyl flooring; Unfinished basement with exterior entry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive. Per door: $249/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Cap rate 8.3% vs local median 6.3% in Schenectady — 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 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: 78 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,475/mo this rent would consume 66% of the median local household income ($63k/yr) (locally 1016% 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 $2k of loan paydown is wiped out by about $9k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $317,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1508 Union St	0.17mi	6/4.0	2,886 (+4%)	6mo	$393,000	$136	73
1106 Parkwood Blvd	0.24mi	6/2.0	2,582 (-7%)	8mo	$315,000	$122	70
1491 Rugby Rd	0.01mi	5/2.0 (-1)	2,472 (-11%)	8mo	$270,000	$109	69
1111 Parkwood Blvd	0.27mi	6/2.0	2,532 (-9%)	6mo	$250,000	$99	67
1182-1184 Glenwood Blvd	0.33mi	5/2.0 (-1)	2,544 (-9%)	2mo	$277,600	$109	64
1859-1861 Eastern Pkwy	0.47mi	6/2.0	2,616 (-6%)	6mo	$319,000	$122	63
1165 Glenwood Blvd	0.36mi	6/2.0	2,508 (-10%)	9mo	$285,000	$114	60
1054 Park Ave	0.63mi	6/2.0	3,008 (+8%)	2mo	$260,000	$86	55
309 Mcclellan St	0.60mi	6/2.0	2,572 (-8%)	6mo	$312,000	$121	54
152 Elmer Ave	0.54mi	5/2.0 (-1)	2,568 (-8%)	5mo	$290,000	$113	53
1318 Poplar St	0.54mi	6/2.0	2,408 (-13%)	10mo	$310,000	$129	44
434 Division St	0.56mi	5/2.0 (-1)	2,400 (-14%)	7mo	$170,000	$71	40

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-16,606
• Equity at exit: $44,582

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $27,001
• Equity at exit: $25,852

Cash invested: $83,720 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 78
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,475 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$555 /mo · $6,663/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $497

Break-even live

Break-even rent $2,845

Max offer price $299,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,474
Total (2 units)			$3,475

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-04-30
   status Pending
2. 2026-04-22
   listed $299,000 Active
3. 2025-08-25
   status Active
4. 2025-08-25
   price $299,000
5. 2025-08-13
   status Pending
6. 2025-08-13
   historical
7. 2025-08-01
   listed $315,000 Active
8. 2025-05-13
   soldstatus $294,000
9. 2025-03-05
   soldstatus $294,000 Closed 534-char remark

   Show marketing remark (534 chars)

   Investors and first-time homebuyers are invited to explore 1503 Rugby Rd! This recently updated two-family home features three bedrooms and one bath on each level, along with new flooring, kitchens, bathrooms, and a new roof. Enjoy the convenience of a two-car garage and parking for 3+ cars. This income-generating property is an excellent addition to your portfolio or a perfect start to your investment journey. Located near public transportation, Ellis Hospital, local restaurants, and shopping in the Schenectady School District.

10. 2025-01-24
    status Pending 534-char remark

    Show marketing remark (534 chars)

    Investors and first-time homebuyers are invited to explore 1503 Rugby Rd! This recently updated two-family home features three bedrooms and one bath on each level, along with new flooring, kitchens, bathrooms, and a new roof. Enjoy the convenience of a two-car garage and parking for 3+ cars. This income-generating property is an excellent addition to your portfolio or a perfect start to your investment journey. Located near public transportation, Ellis Hospital, local restaurants, and shopping in the Schenectady School District.

11. 2025-01-14
    listed $315,000 Active 534-char remark

    Show marketing remark (534 chars)

    Investors and first-time homebuyers are invited to explore 1503 Rugby Rd! This recently updated two-family home features three bedrooms and one bath on each level, along with new flooring, kitchens, bathrooms, and a new roof. Enjoy the convenience of a two-car garage and parking for 3+ cars. This income-generating property is an excellent addition to your portfolio or a perfect start to your investment journey. Located near public transportation, Ellis Hospital, local restaurants, and shopping in the Schenectady School District.

12. 2019-10-29
    soldstatus $118,500
13. 2019-10-28
    soldstatus $110,000 Closed (Final Sale)
14. 2019-08-07
    status Pend (Under Cntr)
15. 2019-06-27
    listed $115,000 New
16. 2018-08-09
    historical
17. 2018-06-08
    status Extended
18. 2018-06-01
    historical
19. 2018-02-13
    listed $115,000 New
20. 2012-05-31
    historical
21. 2011-11-30
    listed $135,000
22. 2000-04-20
    soldstatus $109,179
23. 2000-04-20
    soldstatus $44,000
24. 2000-03-11
    soldstatus $44,000
25. 1999-11-16
    listed $47,590

ⓘ 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: $6,663 · $555/mo
• Projected year-2 tax: $6,663 · $555/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $41,700
• − Mortgage interest: −$16,749
• − Property taxes: −$6,663
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,336
• − Management: −$3,336
• − Depreciation: −$8,698
• Taxable income: $1,423
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $5,628/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): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• 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

+528.3% since first listed

25 events — show timeline

• 2026-04-30 Pending — Global MLS
• 2026-04-22 Listed $299,000 Global MLS
• 2025-08-25 Relisted — Global MLS
• 2025-08-25 Price Changed $299,000 Global MLS
• 2025-08-13 Pending — Global MLS
• 2025-08-13 Listing Removed — Global MLS
• 2025-08-01 Listed $315,000 Global MLS
• 2025-05-13 Sold (Public Records) $294,000 Public Records
• 2025-03-05 Sold (MLS) $294,000 Global MLS
• 2025-01-24 Pending — Global MLS
• 2025-01-14 Listed $315,000 Global MLS
• 2019-10-29 Sold (Public Records) $118,500 Public Records
• 2019-10-28 Sold (MLS) $110,000 Global MLS
• 2019-08-07 Pending — Global MLS
• 2019-06-27 Listed $115,000 Global MLS
• 2018-08-09 Listing Removed — Global MLS
• 2018-06-08 Relisted — Global MLS
• 2018-06-01 Listing Removed — Global MLS
• 2018-02-13 Listed $115,000 Global MLS
• 2012-05-31 Listing Removed — Global MLS
• 2011-11-30 Listed $135,000 Global MLS
• 2000-04-20 Sold (Public Records) $44,000 Public Records
• 2000-04-20 Sold (Public Records) $109,179 Public Records
• 2000-03-11 Sold (MLS) $44,000 Global MLS
• 1999-11-16 Listed $47,590 Global MLS

Property tax history

+0.6%/yr

Latest (2025): $6,663 · +3.9% YoY. Source: county tax records.