1374 10th Ave · Schenectady, NY 12303

$325,000

6 bd · 2.0 ba · 2,545 sqft · MultiFamily · 367 Days on market

Built 1981 Good condition 1,742 sqft lot $128/sqft · 24% below area Est $425k · 24% under ↓ 13% since listing

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.0/10.0
• Rent growth +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

This mixed-use commercial property in the heart of Mount Pleasant, Schenectady, may be just what you're looking for! The second floor features a ready-to-rent three-bedroom, one-bath unit, while the first floor is divided into two open spaces with a half bath—ideal for a salon, barbershop, or mini deli. With a new roof completed in 2024, this property offers endless opportunities for your business ventures. Don't miss out!

Key facts

• Open spaces
• Ready-to-rent unit
• New roof

Tags

• MIXED-USE COMMERCIAL PROPERTY
• READY-TO-RENT UNIT
• OPEN SPACES
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: 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: 161 active listings in the ZIP; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $4,225/mo this rent would consume 60% of the median local household income ($84k/yr) (locally 1318% 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 $10k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 367 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Recommended offer $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 367 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.30% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.40%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $425,250
• List price: $325,000
• Delta: -23.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1220 Crane St	0.26mi	7/2.0 (+1)	2,460 (-3%)	10mo	$215,000	$87	69
1235 Crane St	0.26mi	6/2.0	2,236 (-12%)	6mo	$238,500	$107	63
1005 Congress St	0.35mi	7/3.0 (+1)	2,690 (+6%)	5mo	$85,000	$32	61
1078 Forest Rd	0.59mi	6/2.0	2,520 (-1%)	14mo	$229,000	$91	59
1038 Bridge St	0.64mi	6/2.0	2,460 (-3%)	10mo	$175,000	$71	56
1026 2nd Ave	0.65mi	6/2.0	2,574 (+1%)	16mo	$185,000	$72	54
1549 Chrisler Ave	0.60mi	6/2.0	2,400 (-6%)	13mo	$220,307	$92	52
1933 Wabash Ave	0.69mi	6/2.0	2,320 (-9%)	2mo	$275,000	$119	51
1017 Hegeman St	0.68mi	5/2.0 (-1)	2,568 (+1%)	13mo	$322,000	$125	51
810 Francis Ave	0.62mi	7/2.0 (+1)	2,360 (-7%)	11mo	$165,000	$70	45
1918 Euclid Ave	0.71mi	5/2.0 (-1)	2,412 (-5%)	13mo	$213,000	$88	43
1942 Euclid Ave	0.73mi	6/2.0	2,220 (-13%)	11mo	$265,000	$119	35

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $16,934
• Equity at exit: $48,459

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $104,541
• Equity at exit: $28,100

Cash invested: $91,000 (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 12303

• Active inventory: 161
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $4,225 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$887
• Net cashflow: $1,092

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,554
▸ 2× units	0	0.5	$2,672
Total (3 units)			$4,225

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-08
   days on market $325,000 Active 367 DOM
2. 2026-06-07
   days on market $325,000 Active 366 DOM
3. 2026-06-03
   days on market $325,000 Active 362 DOM
4. 2026-06-02
   days on market $325,000 Active 361 DOM
5. 2026-06-01
   days on market $325,000 Active 360 DOM
6. 2026-05-31
   days on market $325,000 Active 359 DOM
7. 2026-05-31
   days on market $325,000 Active 358 DOM
8. 2025-09-09
   price $325,000 432-char remark

   Show marketing remark (432 chars)

   This mixed-use commercial property in the heart of Mount Pleasant, Schenectady, may be just what you're looking for! The second floor features a ready-to-rent three-bedroom, one-bath unit, while the first floor is divided into two open spaces with a half bath—ideal for a salon, barbershop, or mini deli. With a new roof completed in 2024, this property offers endless opportunities for your business ventures. Don't miss out!

9. 2025-08-06
   price $360,000 432-char remark

   Show marketing remark (432 chars)

   This mixed-use commercial property in the heart of Mount Pleasant, Schenectady, may be just what you're looking for! The second floor features a ready-to-rent three-bedroom, one-bath unit, while the first floor is divided into two open spaces with a half bath—ideal for a salon, barbershop, or mini deli. With a new roof completed in 2024, this property offers endless opportunities for your business ventures. Don't miss out!

10. 2025-06-05
    listed $375,000 Active 432-char remark

    Show marketing remark (432 chars)

    This mixed-use commercial property in the heart of Mount Pleasant, Schenectady, may be just what you're looking for! The second floor features a ready-to-rent three-bedroom, one-bath unit, while the first floor is divided into two open spaces with a half bath—ideal for a salon, barbershop, or mini deli. With a new roof completed in 2024, this property offers endless opportunities for your business ventures. Don't miss out!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $50,700
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,056
• − Management: −$4,056
• − Depreciation: −$9,455
• Taxable income: $8,428
• Est. tax owed @ 24.0%: −$2,023
• After-tax cash flow: $11,078/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This mixed-use property in Mount Pleasant, Schenectady, is in good condition with a new roof and solid structure. The second floor is ready-to-rent, while the first floor offers open spaces with a half bath. Updates to the bathrooms and flooring will significantly increase its value.

Value-add opportunities

• Both update bathrooms with modern fixtures — modernizing bathrooms will appeal to both buyers and renters
• Both install new flooring in kitchen and bathrooms — new flooring will enhance the overall aesthetic and functionality
• Both paint interior walls — fresh paint will make the space more inviting and modern

Renovation cost estimate screening

Value-add ROI direction

• Both update bathrooms with modern fixtures — modernizing bathrooms will appeal to both buyers and renters ↑
• Both install new flooring in kitchen and bathrooms — new flooring will enhance the overall aesthetic and functionality ↑
• Both paint interior walls — fresh paint will make the space more inviting and modern ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

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 (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -151.01%
• Current HPI: 280.3886
• 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

-13.3% since first listed

3 events — show timeline

• 2025-09-09 Price Changed $325,000 Global MLS
• 2025-08-06 Price Changed $360,000 Global MLS
• 2025-06-05 Listed $375,000 Global MLS