817 24th St · Watervliet, NY 12189

$174,900

3 bd · 1.0 ba · 1,299 sqft · SingleFamily public records · 18 Days on market

Built 1910 2,613 sqft lot $135/sqft · 32% below area Est $256k · 32% 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.5/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

-- Good Condition

Key facts

• Flexible space
• Walk-up attic access
• Laundry room

Tags

• CHARMING BUNGALOW
• FLEXIBLE SPACE
• LAUNDRY ROOM
• BONUS ROOM
• WALK-UP ATTIC ACCESS
• FENCED IN LEVEL BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story with main living on the first floor
• Construction: Vinyl siding; Shingle (asphalt) roof; Unfinished basement
• Exterior features: Front porch; Enclosed porch; Back yard fencing; Level, cleared lot

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Three first-floor bedrooms
• Flooring: Hardwood; Laminate; Linoleum
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Baseboard hot water heating (natural gas); Window air conditioning units
• Interior features: Enclosed front porch (3-seasons room); Living room; Dining room; Bonus room (second level); Attic
• Laundry & utility: Main-level laundry room; Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.9% in Watervliet — 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 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 34% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 6.6% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.9

CMA / ARV

• ARV (median comp): $256,068
• List price: $174,900
• Delta: -31.70%
• 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
2422 9th Ave	0.04mi	3/1.5	1,260 (-3%)	9mo	$248,000	$197	84
1925 8th Ave	0.15mi	3/1.5	1,432 (+10%)	1mo	$208,050	$145	73
2314 Broadway	0.46mi	3/1.5	1,324 (+2%)	3mo	$260,000	$196	71
2321 10th Ave	0.13mi	2/2.0 (-1)	1,136 (-12%)	2mo	$235,000	$207	63
1621 12th Ave	0.41mi	3/1.0	1,420 (+9%)	10mo	$335,000	$236	57
1408 10th Ave	0.55mi	3/1.0	1,412 (+9%)	7mo	$127,000	$90	54
3 Lafayette St	0.75mi	3/1.0	1,406 (+8%)	0mo	$240,000	$171	51
1503 4th Ave	0.60mi	2/1.0 (-1)	1,262 (-3%)	13mo	$155,000	$123	51
20 Eastern Ave	0.67mi	3/1.0	1,382 (+6%)	9mo	$289,000	$209	51
1321 6th Ave	0.68mi	2/1.0 (-1)	1,224 (-6%)	7mo	$220,000	$180	48
201 15th St	0.65mi	3/2.0	1,116 (-14%)	3mo	$225,000	$202	39
11 Western Ave	0.69mi	3/1.0	1,116 (-14%)	11mo	$270,000	$242	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 · 6.61% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-4,620
• Equity at exit: $26,078

10-year hold

• IRR: 10.8%
• Equity multiple: 1.99×
• Total profit: $48,263
• Equity at exit: $15,122

Cash invested: $48,972 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$917
• Tax from tax record: −$200 /mo · $2,402/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $263

Break-even live

Break-even rent $1,507

Max offer price $174,900

Occupancy floor 81%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2413 6th Ave Unit 1 Watervliet, NY	2.0	1.0	900	$1,550	$1.72	43d	1	0.15mi
2327 12th Ave Unit 1 Watervliet, NY	2.0	1.0	1000	$1,500	$1.50	43d	1	0.25mi
13 Fenimore Trace Apartments Watervliet, NY	1.0–2.0	1.0–2.0	827	$1,785	$2.16	14d	1	0.42mi
5 Alden St Watervliet, NY	2.0	1.0	1000	$1,299	$1.30	18d	1	0.48mi
5 Alden St Unit b Watervliet, NY	2.0	1.0	1100	$1,299	$1.18	43d	1	0.48mi
1534 5th Ave #1 Watervliet, NY	3.0	1.0	1200	$1,595	$1.33	43d	1	0.55mi
1417 7th Ave Unit 2 Watervliet, NY	2.0	1.0	1000	$2,200	$2.20	14d	1	0.59mi
1513 5th Ave Unit 2 Watervliet, NY	3.0	1.0	1200	$1,550	$1.29	14d	1	0.59mi
155 River St Unit 3C Troy, NY	2.0	1.0	1100	$2,000	$1.82	14d	1	0.78mi
155 River St Unit 5D Troy, NY	2.0	1.0	900	$2,000	$2.22	43d	1	0.78mi
209 13th St Watervliet, NY	4.0	1.0	1100	$1,700	$1.55	43d	1	0.81mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$2,996	$1.66	14d	7	0.88mi
22 13th St Watervliet, NY	2.0	1.5	900	$1,600	$1.78	43d	1	0.89mi
53-55 Congress St Troy, NY	2.0	1.0	1500	$1,700	$1.13	23d	1	0.93mi
65 3rd St Troy, NY	2.0	2.0	1185	$2,995	$2.53	23d	1	0.95mi
2 River St Troy, NY	2.0	1.0–2.5	945	$2,650	$2.80	14d	6	1.00mi
104 4th St Unit 2 Troy, NY	3.0	1.0	950	$1,800	$1.89	14d	1	1.03mi
151 4th St Troy, NY	4.0	1.0	1000	$1,400	$1.40	23d	1	1.04mi
2001 5th Ave Troy, NY	2.0	1.0–2.0	865	$2,650	$3.06	14d	10	1.06mi
2002 Federal St Troy, NY	2.0	1.0–2.0	830	$3,450	$4.16	14d	51	1.08mi
23 Lake Shore Dr Watervliet, NY	1.0–3.0	1.0–2.0	911	$2,280	$2.50	14d	17	1.13mi
1611 6th Ave Troy, NY	1.0–2.0	1.0–2.0	976	$3,000	$3.07	14d	28	1.14mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,224	$1.01	23d	8	1.18mi
124 Ferry St Troy, NY	1.0–3.0	1.0–2.0	814	$2,799	$3.44	14d	10	1.18mi
306 3rd St Troy, NY	3.0	1.0	1100	$1,700	$1.55	23d	1	1.27mi
323 2nd St #1 Troy, NY	2.0	1.0	1150	$1,950	$1.70	23d	1	1.30mi
238 8th St Troy, NY	3.0	2.0	1200	$2,200	$1.83	23d	1	1.31mi
334 4th St Troy, NY	2.0	1.0	1200	$1,550	$1.29	23d	1	1.31mi
904 Peoples Ave Troy, NY	4.0	1.0	1800	$645	$0.36	18d	1	1.34mi
355 4th St Troy, NY	3.0	2.0	1203	$1,750	$1.45	23d	1	1.35mi
136 9th St Unit 3 Troy, NY	4.0	1.0	1500	$595	$0.40	18d	1	1.35mi
809 Broadway #2 Watervliet, NY	3.0	1.0	1100	$1,625	$1.48	43d	1	1.35mi
136 9th St Unit 2 Troy, NY	3.0	1.0	1500	$600	$0.40	18d	1	1.35mi
136 9th St Unit 1 Troy, NY	3.0	1.0	1500	$595	$0.40	18d	1	1.35mi
164 9th St Unit 1 Troy, NY	4.0	2.0	1400	$1,800	$1.29	23d	1	1.37mi
195 9th St Troy, NY	3.0	2.0	1500	$750	$0.50	18d	1	1.38mi
356 3rd St Unit 2 Troy, NY	3.0	1.0	1000	$1,950	$1.95	14d	1	1.39mi
196 10th St Troy, NY	3.0	1.0	1200	$695	$0.58	18d	1	1.40mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	14d	1	1.40mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	21d	1	1.40mi

Listing history 10 events

1. 2026-06-01
   statusdays on market $174,900 Pending 18 DOM
2. 2026-05-31
   days on market $174,900 Contingent 17 DOM
3. 2026-05-31
   days on market $174,900 Contingent 16 DOM
4. 2026-05-14
   listed $174,900 Active 579-char remark
5. 2024-11-04
   soldstatus $210,000
6. 2020-12-23
   soldstatus $140,000
7. 2001-08-03
   soldstatus $43,440
8. 2001-08-01
   soldstatus $50,000 17-char remark

   Show marketing remark (17 chars)

   -- Good Condition

9. 2001-06-13
   historical 17-char remark

   Show marketing remark (17 chars)

   -- Good Condition

10. 2000-11-21
    listed $49,900 17-char remark

    Show marketing remark (17 chars)

    -- Good Condition

ⓘ 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: $2,402 · $200/mo
• Projected year-2 tax: $2,679 · $223/mo
• Expected delta: +$277/yr (+$23/mo · 11.5%)

ⓘ 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 ≥98°F today · 17 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: $22,081
• − Mortgage interest: −$9,797
• − Property taxes: −$2,402
• − Insurance: −$874
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$5,088
• Taxable income: $387
• Est. tax owed @ 24.0%: −$93
• After-tax cash flow: $3,069/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: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

Amenities A+ Commute A Cost of living B+ Crime D+ Employment C Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, NY
• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

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 (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 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: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

+250.5% since first listed

9 events — show timeline

• 2026-06-01 Pending — Global MLS
• 2026-05-27 Contingent — Global MLS
• 2026-05-14 Listed $174,900 Global MLS
• 2024-11-04 Sold (Public Records) $210,000 Public Records
• 2020-12-23 Sold (Public Records) $140,000 Public Records
• 2001-08-03 Sold (Public Records) $43,440 Public Records
• 2001-08-01 Sold (MLS) $50,000 Global MLS
• 2001-06-13 Listing Removed — Global MLS
• 2000-11-21 Listed $49,900 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $2,402 · +3.9% YoY. Source: county tax records.