223 Vly Rd · Colonie, NY 12309

$164,900

2 bd · 1.0 ba · 956 sqft · SingleFamily public records · 7 Days on market

Built 1945 0.60 ac lot

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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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PROPERTY SOLD "AS IS" HW TANK 1 YR. ROOF 5 YRS. FURNACE APPROX. 7-10 YRS. THIS DOLLHOUSE SITS ON OVER 1/2 ACRE OF PRIME COLONIE LAND. TAXES DO NOT REFLECT STAR -- Good Condition

Key facts

• Siding updated
• 6 acres
• Roof updated

Tags

• 6 ACRES
• LARGE LOT
• ROOF UPDATED
• SIDING UPDATED
• WINDOWS UPDATED

Property features AI

Exterior

• Parking: Detached garage; 1 garage space; 4 total parking spaces
• Utilities: Public water; Public sewer; Has heating (hot water)
• Home design: Single family residence; Fixer condition; Slab foundation; Living area approximately 956
• Construction: Vinyl siding; Slab foundation; Asphalt roof; Built on slab
• Exterior features: Exterior lighting; Asphalt roof; Level lot

Interior

• Kitchen: Kitchen located on the first level; Microwave, Oven
• Bedrooms: Two bedrooms on the first level
• Flooring: Laminate
• Bathrooms: One full bathroom on the first level
• Heating & cooling: Hot water heating
• Interior features: 7 total rooms; Microwave, Oven; Laminate flooring
• Laundry & utility: Main level laundry; Utility room on the first level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 7.8% vs local median 4.8% in Colonie — 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 85/100 on livability (#37 in NY, #572 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime C-, amenities C-, cost of living D.
• South Colonie Central School District (suburban): math 63% / reading 57% proficiency, ranked #215 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Colonie Central High School (math 96% / reading 72%, grade A, #404 of 1,100 statewide, top 37%, 1,538 students, 39% FRL) — zoned schools average 39% FRL vs 19% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 84% at this address vs 60% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the South Colonie Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.6%/yr); 164 active listings in the ZIP; high-income renter base; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent is only 16% of the median local income ($125k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y 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 $90k; list at $165k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1945 — 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. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.60×
• Total profit: $-18,312
• Equity at exit: $24,587

10-year hold

• IRR: -7.1%
• Equity multiple: 0.61×
• Total profit: $-17,947
• Equity at exit: $14,258

Cash invested: $46,172 (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 12309

• Rents YoY: -1.6%
• Active inventory: 164
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,708 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$206 /mo · $2,470/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $210

Break-even live

Break-even rent $1,442

Max offer price $164,900

Occupancy floor 83%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-17
   status $164,900 Pending 7 DOM
2. 2026-06-17
   days on market $164,900 Active 7 DOM
3. 2026-06-16
   days on market $164,900 Active 6 DOM
4. 2026-06-15
   days on market $164,900 Active 5 DOM
5. 2026-06-14
   days on market $164,900 Active 3 DOM
6. 2026-06-13
   remarks 326-char remark
7. 2026-06-13
   listed $164,900 Active 2 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: $2,470 · $206/mo
• Projected year-2 tax: $2,628 · $219/mo
• Expected delta: +$159/yr (+$13/mo · 6.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $20,499
• − Mortgage interest: −$9,237
• − Property taxes: −$2,470
• − Insurance: −$824
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − Depreciation: −$4,797
• Taxable loss: −$109
• Est. tax savings @ 24.0%: +$26
• After-tax cash flow: $2,549/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: South Colonie Central School District
• NCES district ID: 3627210
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $69,499
• Composite: 52.97/100
• National rank: #1527
• State rank: #215 of 590 in NY

Livability — Colonie

• Score: 85/100
• State rank: #37
• US rank: #572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Schenectady County · 141,369 people
• City population: 25,912
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 33,246
• Household income: $125,274
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 300.0

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 (76%)
• Race & ethnicity: White 76% Asian 9% Two or more races 8% Hispanic / Latino 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Iranian 3%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 89% English-only · Other Indo-European 3% 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: ▼ -228.63%
• Current HPI: 294.773
• Rent YoY: ▼ -1.55%
• 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

+73.6% since first listed

5 events — show timeline

• 2026-06-10 Listed $164,900 Global MLS
• 2007-11-20 Sold (Public Records) $90,000 Public Records
• 2007-11-01 Sold (MLS) $90,000 Global MLS
• 2007-10-04 Listing Removed — Global MLS
• 2007-09-24 Listed $95,000 Global MLS

Property tax history

+4.9%/yr

Latest (2025): $2,470 · -6.4% YoY. Source: county tax records.