69 Dana Ave · Albany, NY 12208

$254,900

6 bd · 2.0 ba · 1,938 sqft · MultiFamily public records · 5 Days on market

Built 1905 1,742 sqft lot Est $256k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.7/15.0
• 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: 2 units. confirmed

Listing remarks

Multiple Offers-Highest and Best due by June 13th at 8pm. Investment opportunity awaits. This well maintained two family property offers immediate income potential with 2nd floor leased through 1/2027 providing stable cash flow day one. 1st floor is vacant presents opportunity for owner occupant to offset housing costs with rental income OR for investor to maximize return. These spacious living areas are conveniently located near shopping, restaurants, schools, major highways and downtown.

Key facts

• Vacant opportunity
• Stable cash flow
• Two family property

Tags

• TWO FAMILY PROPERTY
• IMMEDIATE INCOME POTENTIAL
• STABLE CASH FLOW
• VACANT OPPORTUNITY
• SPACIOUS LIVING AREAS
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Two-unit property; Tenants pay heat, internet, cable TV, and electricity; Owner pays water and sewer

Exterior

• Parking: Other parking
• Utilities: 100 amp electric service; Public water; Public sewer; Cable available
• Home design: Duplex; Approximately 1,938 living area; Lot roughly 22.1 x 80.7
• Construction: Vinyl siding; Brick/mortar foundation; Flat, metal, and rubber roofing
• Exterior features: Front porch; Fenced lot; Cleared lot

Interior

• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 3 bedrooms (on 2nd floor)
• Flooring: Vinyl flooring; Hardwood flooring
• Bathrooms: Two full bathrooms total (one full bath on 1st floor, one full bath on 2nd floor)
• Heating & cooling: Radiant heating; Wall cooling units
• Interior features: Vinyl and hardwood flooring; Full basement
• Laundry & utility: Gas dryer hookup in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $990 ($12k/yr) — positive. Per door: $495/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Cap rate 11.0% 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.
• Zoned schools: Giffen Memorial Elementary School (math 17% / reading 22%, grade F, #1,992 of 2,108 statewide, top 95%, 404 students, 93% FRL); Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools average 81% FRL vs 66% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.0%/yr); 99 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,683/mo this rent would consume 63% of the median local household income ($70k/yr) (locally 1952% 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 $8k 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 + 5.0% rent growth), your $71k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $254,900

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 1905 — 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: 1.44% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.64%
• DSCR: 1.74
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $255,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 Madison Ave	0.04mi	5/4.0 (-1)	1,994 (+3%)	8mo	$330,000	$165	74
189 Elk St	0.53mi	6/2.0	1,880 (-3%)	2mo	$89,900	$48	69
645 Myrtle Ave	0.71mi	6/2.0	2,000 (+3%)	5mo	$270,000	$135	57
184 Quail St	0.65mi	6/3.0	1,853 (-4%)	4mo	$231,000	$125	55
425 Sheridan Ave	0.66mi	5/2.0 (-1)	1,990 (+3%)	7mo	$91,200	$46	54
156 Lark St	0.55mi	6/3.0	1,728 (-11%)	1mo	$235,000	$136	52
157 Western Ave	0.56mi	7/2.0 (+1)	2,144 (+11%)	5mo	$215,000	$100	47
252 Morton Ave	0.62mi	6/4.0	2,152 (+11%)	3mo	$285,000	$132	42
97 Lark St	0.69mi	6/3.0	2,214 (+14%)	4mo	$259,000	$117	36
391 Washington Ave	0.51mi	7/4.0 (+1)	2,217 (+14%)	5mo	$350,000	$158	35
538 Myrtle Ave	0.48mi	5/5.0 (-1)	2,216 (+14%)	2mo	$410,000	$185	35
101 Lark St	0.69mi	6/3.0	2,214 (+14%)	7mo	$200,000	$90	34

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.42×
• Total profit: $29,648
• Equity at exit: $38,006

10-year hold

• IRR: 21.1%
• Equity multiple: 2.97×
• Total profit: $140,794
• Equity at exit: $22,039

Cash invested: $71,372 (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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 99
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $3,683 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$477 /mo · $5,721/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$773
• Net cashflow: $990

Break-even live

Break-even rent $2,430

Max offer price $254,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,682
Total (2 units)			$3,683

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-15
   status $254,900 Pending 5 DOM
2. 2026-06-15
   days on market $254,900 Active 5 DOM
3. 2026-06-14
   remarks 494-char remark
4. 2026-06-14
   listed $254,900 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: $5,721 · $477/mo
• Projected year-2 tax: $5,721 · $477/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 ≥97°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: $44,196
• − Mortgage interest: −$14,278
• − Property taxes: −$5,721
• − Insurance: −$1,274
• − Repairs & maintenance: −$3,536
• − Management: −$3,536
• − Depreciation: −$7,415
• Taxable income: $8,436
• Est. tax owed @ 24.0%: −$2,025
• After-tax cash flow: $9,854/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): 23,289
• Household income: $70,413
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1952.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 12% Asian 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Italian 3% Scotch-Irish 3%
• Foreign-born: 16% · Canada, China, Philippines
• Languages at home: 83% English-only · Other Indo-European 4% Other Asian/Pacific 3% French/Haitian/Cajun 2%

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: ▼ -120.46%
• Current HPI: 279.716
• Rent YoY: ▲ 5.05%
• 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

1 event — show timeline

• 2026-06-07 Listed $254,900 Global MLS

Property tax history

+6.6%/yr

Latest (2025): $5,721 · -5.7% YoY. Source: county tax records.