571-573 1st St · Troy, NY 12180

$799,000

18 bd · 6.0 ba · 9,006 sqft · MultiFamily · 50 Days on market

Built 1890 Good condition 4,791 sqft lot $89/sqft · 46% below area Est $1473k · 46% 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks MLS

Fantastic opportunity to own a turn key, updated 6 unit building. Renovations completed in 2020 including fabulous kitchens and baths, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Separate utilities (owner pays electric for one unit which is tied to common area) Off street parking in the rear for 5 cars. Close to Hudson Valley Community College, easy access to highways and on busline. Great condition. A must see property.

Key facts

• Off street parking
• 4,791 sq ft lot
• 5 parking spots

Tags

• UPDATED 6 UNIT BUILDING
• RENOVATIONS COMPLETED IN 2020
• REFINISHED HARDWOOD FLOORS
• WASHER AND DRYER HOOKUPS
• SOUND AND FIRE INSULATION
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.0-bath units multifamily listed at $799k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $463/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $799k).
• Recommended offer: $775k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $10,573/mo this rent would consume 167% of the median local household income ($76k/yr) (locally 2698% 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 $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $224k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($775k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $190k; list at $799k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $775,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.32% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.18%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $1,472,810
• List price: $799,000
• Delta: -45.75%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $67,863
• Equity at exit: $119,133

10-year hold

• IRR: 18.5%
• Equity multiple: 2.67×
• Total profit: $374,378
• Equity at exit: $69,083

Cash invested: $223,720 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 37.8×

Monthly cashflow live

• Estimated rent: $10,573 high
• Mortgage (P&I): −$4,190
• Tax est. 1.5%: −$999 /mo · $11,985/yr
• Insurance: −$333
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,220
• Net cashflow: $2,775

Break-even live

Break-even rent $7,060

Max offer price $799,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$10,572
Total (6 units)			$10,573

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-18
   status Pending 528-char remark

   Show marketing remark (528 chars)

   Fantastic opportunity to own a turn key, updated 6 unit building. Renovations completed in 2020 including fabulous kitchens and baths, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Separate utilities (owner pays electric for one unit which is tied to common area) Off street parking in the rear for 5 cars. Close to Hudson Valley Community College, easy access to highways and on busline. Great condition. A must see property.

2. 2026-05-08
   status Active 528-char remark

   Show marketing remark (528 chars)

   Fantastic opportunity to own a turn key, updated 6 unit building. Renovations completed in 2020 including fabulous kitchens and baths, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Separate utilities (owner pays electric for one unit which is tied to common area) Off street parking in the rear for 5 cars. Close to Hudson Valley Community College, easy access to highways and on busline. Great condition. A must see property.

3. 2026-03-30
   status Pending 528-char remark

   Show marketing remark (528 chars)

   Fantastic opportunity to own a turn key, updated 6 unit building. Renovations completed in 2020 including fabulous kitchens and baths, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Separate utilities (owner pays electric for one unit which is tied to common area) Off street parking in the rear for 5 cars. Close to Hudson Valley Community College, easy access to highways and on busline. Great condition. A must see property.

4. 2026-02-18
   listed $799,000 Active 528-char remark

   Show marketing remark (528 chars)

   Fantastic opportunity to own a turn key, updated 6 unit building. Renovations completed in 2020 including fabulous kitchens and baths, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Separate utilities (owner pays electric for one unit which is tied to common area) Off street parking in the rear for 5 cars. Close to Hudson Valley Community College, easy access to highways and on busline. Great condition. A must see property.

5. 2022-04-26
   status Pending 633-char remark

   Show marketing remark (633 chars)

   Terrific Opportunity - A rare find! Completely renovated 6 unit with all the modern conveniences of today with the charm of yesteryear. Renovations completed in 2020 include fabulous kitchens and baths, refinished wood floors, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Off street parking for 5 cars, Close to Hudson Valley Community College, easy access to highways and on a busline. Fabulous turn-key investment opportunity. Photos are of one unit, but units are nearly identical. Cap rate is 9.3% -- Superior Condition

6. 2022-04-01
   price $699,900 633-char remark

   Show marketing remark (633 chars)

   Terrific Opportunity - A rare find! Completely renovated 6 unit with all the modern conveniences of today with the charm of yesteryear. Renovations completed in 2020 include fabulous kitchens and baths, refinished wood floors, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Off street parking for 5 cars, Close to Hudson Valley Community College, easy access to highways and on a busline. Fabulous turn-key investment opportunity. Photos are of one unit, but units are nearly identical. Cap rate is 9.3% -- Superior Condition

7. 2022-04-01
   status Active 633-char remark

   Show marketing remark (633 chars)

   Terrific Opportunity - A rare find! Completely renovated 6 unit with all the modern conveniences of today with the charm of yesteryear. Renovations completed in 2020 include fabulous kitchens and baths, refinished wood floors, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Off street parking for 5 cars, Close to Hudson Valley Community College, easy access to highways and on a busline. Fabulous turn-key investment opportunity. Photos are of one unit, but units are nearly identical. Cap rate is 9.3% -- Superior Condition

8. 2021-11-15
   historical 633-char remark

   Show marketing remark (633 chars)

   Terrific Opportunity - A rare find! Completely renovated 6 unit with all the modern conveniences of today with the charm of yesteryear. Renovations completed in 2020 include fabulous kitchens and baths, refinished wood floors, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Off street parking for 5 cars, Close to Hudson Valley Community College, easy access to highways and on a busline. Fabulous turn-key investment opportunity. Photos are of one unit, but units are nearly identical. Cap rate is 9.3% -- Superior Condition

9. 2021-09-30
   listed $750,000 New 633-char remark

   Show marketing remark (633 chars)

   Terrific Opportunity - A rare find! Completely renovated 6 unit with all the modern conveniences of today with the charm of yesteryear. Renovations completed in 2020 include fabulous kitchens and baths, refinished wood floors, electrical and rubber roof. State of the art heating systems, washer and dryer hookups for each unit. Sound and fire insulation between apartments. Off street parking for 5 cars, Close to Hudson Valley Community College, easy access to highways and on a busline. Fabulous turn-key investment opportunity. Photos are of one unit, but units are nearly identical. Cap rate is 9.3% -- Superior Condition

10. 2014-07-16
    soldstatus $190,000
11. 2014-05-02
    historical
12. 2014-04-02
    listed $225,000
13. 2011-08-03
    historical
14. 2011-06-01
    listed $189,900
15. 2010-07-01
    historical
16. 2008-10-02
    listed $245,000

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $126,876
• − Mortgage interest: −$44,756
• − Property taxes: −$11,985
• − Insurance: −$4,662
• − Repairs & maintenance: −$10,150
• − Management: −$10,150
• − Depreciation: −$23,244
• Taxable income: $21,929
• Est. tax owed @ 24.0%: −$5,263
• After-tax cash flow: $28,042/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

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with recent renovations, offering a turn-key investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and aesthetics
• Both Replace light fixtures — Modernizes and improves energy efficiency
• Both Install smart thermostats — Saves energy and improves comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and aesthetics ↑
• Both Replace light fixtures — Modernizes and improves energy efficiency ↑
• Both Install smart thermostats — Saves energy and improves comfort ↑

ⓘ 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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+226.1% since first listed

16 events — show timeline

• 2026-05-18 Pending — Global MLS
• 2026-05-08 Relisted — Global MLS
• 2026-03-30 Pending — Global MLS
• 2026-02-18 Listed $799,000 Global MLS
• 2022-04-26 Pending — Global MLS
• 2022-04-01 Price Changed $699,900 Global MLS
• 2022-04-01 Relisted — Global MLS
• 2021-11-15 Listing Removed — Global MLS
• 2021-09-30 Listed $750,000 Global MLS
• 2014-07-16 Sold (MLS) $190,000 Global MLS
• 2014-05-02 Listing Removed — Global MLS
• 2014-04-02 Listed $225,000 Global MLS
• 2011-08-03 Listing Removed — Global MLS
• 2011-06-01 Listed $189,900 Global MLS
• 2010-07-01 Listing Removed — Global MLS
• 2008-10-02 Listed $245,000 Global MLS