143 /147 Glenmont Rd · Albany, NY 12077

$440,000

5 bd · 2.0 ba · 2,515 sqft · MultiFamily · 8 Days on market

Built 1910 Fair condition 7.55 ac lot Est $521k · 15% under

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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
• ARV discount +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

Opportunity awaits in the top-rated Bethlehem School District! Set on just over 7 private wooded acres, this unique property offers incredible flexibility for owner-occupants, investors or builders seeking future potential. The parcel currently features two homes situated on approximately .33 acre, with the remaining land offering possible subdivision or development opportunities. One home (#147) is currently used as a rental, featuring 2 bedrooms with walk-in closets, 1 full bath, hardwood floors, and thoughtful updates--providing immediate income potential or a comfortable place to live while exploring future options. The second home (#143) and detached garage are being sold as-is and present an excellent opportunity for renovation, reimagining, or replacement to suit your vision. Enjoy the privacy of a serene setting while being just minutes from local conveniences. A rare chance to own acreage with multiple possibilities in a highly desirable location! Note: List price reflects recent appraised value. Buyer to verify with the Town of Bethlehem for any future plans, approvals, or improvements.

Key facts

• 7.55 acre lot
• 5 parking spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $440k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $440k).
• Cap rate 12.8% 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.
• Bethlehem Central School District (suburban): math 70% / reading 74% proficiency, ranked #90 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Bethlehem Central Senior High School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 1,364 students, 13% FRL).
• Zoned-school proficiency averages 93% at this address vs 72% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Bethlehem Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 24 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 + 3.0% rent growth), your $123k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $440,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.56% ✓
• Cap rate: 12.76%
• Cash-on-cash: 23.09%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $520,605
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Glenmont Rd	0.43mi	6/3.0 (+1)	2,800 (+11%)	4mo	$580,000	$207	48

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: 16.1%
• Equity multiple: 1.65×
• Total profit: $79,799
• Equity at exit: $65,605

10-year hold

• IRR: 24.7%
• Equity multiple: 3.15×
• Total profit: $264,338
• Equity at exit: $38,043

Cash invested: $123,200 (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 12077

• Home prices YoY: -18.3%
• Active inventory: 24
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $6,850 medium
• Mortgage (P&I): −$2,307
• Tax est. 1.5%: −$550 /mo · $6,600/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,438
• Net cashflow: $2,371

Break-even live

Break-even rent $3,849

Max offer price $440,000

Occupancy floor 60%

Sensitivity live

Price	-10% $2,675	-5% $2,523	+0% $2,371	+5% $2,219	+10% $2,067
Rent	-10% $1,830	-5% $2,100	+0% $2,371	+5% $2,641	+10% $2,912
Rate	-1.0pp $2,592	-0.5pp $2,483	base $2,371	+0.5pp $2,257	+1.0pp $2,141

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,849
Total (3 units)			$6,850

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: $110,000
• Closing costs: $13,200
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-07
   status Pending
2. 2026-04-03
   status Pending 1119-char remark

   Show marketing remark (1119 chars)

   Opportunity awaits in the top-rated Bethlehem School District! Set on just over 7 private wooded acres, this unique property offers incredible flexibility for owner-occupants, investors or builders seeking future potential. The parcel currently features two homes situated on approximately .33 acre, with the remaining land offering possible subdivision or development opportunities. One home (#147) is currently used as a rental, featuring 2 bedrooms with walk-in closets, 1 full bath, hardwood floors, and thoughtful updates--providing immediate income potential or a comfortable place to live while exploring future options. The second home (#143) and detached garage are being sold as-is and present an excellent opportunity for renovation, reimagining, or replacement to suit your vision. Enjoy the privacy of a serene setting while being just minutes from local conveniences. A rare chance to own acreage with multiple possibilities in a highly desirable location! Note: List price reflects recent appraised value. Buyer to verify with the Town of Bethlehem for any future plans, approvals, or improvements.

3. 2026-03-30
   listed $440,000 Active

   Show marketing remark (1119 chars)

   Opportunity awaits in the top-rated Bethlehem School District! Set on just over 7 private wooded acres, this unique property offers incredible flexibility for owner-occupants, investors or builders seeking future potential. The parcel currently features two homes situated on approximately .33 acre, with the remaining land offering possible subdivision or development opportunities. One home (#147) is currently used as a rental, featuring 2 bedrooms with walk-in closets, 1 full bath, hardwood floors, and thoughtful updates--providing immediate income potential or a comfortable place to live while exploring future options. The second home (#143) and detached garage are being sold as-is and present an excellent opportunity for renovation, reimagining, or replacement to suit your vision. Enjoy the privacy of a serene setting while being just minutes from local conveniences. A rare chance to own acreage with multiple possibilities in a highly desirable location! Note: List price reflects recent appraised value. Buyer to verify with the Town of Bethlehem for any future plans, approvals, or improvements.

4. 2026-03-30
   listed $440,000 Active 1119-char remark

   Show marketing remark (1119 chars)

   Opportunity awaits in the top-rated Bethlehem School District! Set on just over 7 private wooded acres, this unique property offers incredible flexibility for owner-occupants, investors or builders seeking future potential. The parcel currently features two homes situated on approximately .33 acre, with the remaining land offering possible subdivision or development opportunities. One home (#147) is currently used as a rental, featuring 2 bedrooms with walk-in closets, 1 full bath, hardwood floors, and thoughtful updates--providing immediate income potential or a comfortable place to live while exploring future options. The second home (#143) and detached garage are being sold as-is and present an excellent opportunity for renovation, reimagining, or replacement to suit your vision. Enjoy the privacy of a serene setting while being just minutes from local conveniences. A rare chance to own acreage with multiple possibilities in a highly desirable location! Note: List price reflects recent appraised value. Buyer to verify with the Town of Bethlehem for any future plans, approvals, or improvements.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 15 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: $82,200
• − Mortgage interest: −$24,647
• − Property taxes: −$6,600
• − Insurance: −$2,200
• − Repairs & maintenance: −$6,576
• − Management: −$6,576
• − Depreciation: −$12,800
• Taxable income: $22,801
• Est. tax owed @ 24.0%: −$5,472
• After-tax cash flow: $22,977/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 · 13 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations, including kitchen and bathroom updates, painting, and landscaping, to improve its condition and increase its value.

Repairs flagged

• Major Kitchen cabinets — The cabinets are worn and need replacement or renovation.
• Major Bathroom fixtures — The fixtures are outdated and need replacement.
• Major Painting — The interior walls and ceilings need repainting to improve appearance.
• Major Landscaping — The landscaping is overgrown and needs trimming and maintenance.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the home's value.
• Resale Bathroom updates — Upgraded bathrooms will appeal to potential buyers and increase the home's value.
• Both Painting — Fresh paint will improve the home's appearance and increase both resale and rental value.
• Both Landscaping — A well-maintained yard will enhance curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are worn and need replacement or renovation.	Major	$15,000–50,000
Bathroom fixtures · The fixtures are outdated and need replacement.	Major	$15,000–50,000
Painting · The interior walls and ceilings need repainting to improve appearance.	Major	$15,000–50,000
Landscaping · The landscaping is overgrown and needs trimming and maintenance.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the home's value. ↑
• Resale Bathroom updates — Upgraded bathrooms will appeal to potential buyers and increase the home's value. ↑
• Both Painting — Fresh paint will improve the home's appearance and increase both resale and rental value. ↑
• Both Landscaping — A well-maintained yard will enhance curb appeal and attract more potential buyers or renters. ↑

ⓘ 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: Bethlehem Central School District
• NCES district ID: 3604710
• Math proficiency: 70% ▼ -8.00%
• Reading proficiency: 74% ▲ 7.00%
• Median HH income: $94,967
• Composite: 65.31/100
• National rank: #488
• State rank: #90 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

• City population: 116,921
• Population (ZIP): 6,733

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 (82%)
• Race & ethnicity: White 82% Asian 6% Hispanic / Latino 6% Black 5% Two or more races 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Scotch-Irish 4% Romanian 4% Italian 4%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · German/W. Germanic 3% Spanish 3% Other Indo-European 3%

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: ▼ -65.41%
• Current HPI: 291.4513
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-07 Pending — Global MLS
• 2026-04-03 Pending — Global MLS
• 2026-03-30 Listed $440,000 Global MLS
• 2026-03-30 Listed $440,000 Global MLS