259 3rd St · Troy, NY 12180

$319,000

8 bd · 3.0 ba · 3,528 sqft · MultiFamily public records · 45 Days on market

Built 1890 3,484 sqft lot Est $328k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.7/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Multiple offer deadline Sunday 11/20 at 6pm. Great opportunity to own and finish this brick 3 unit in Troy. First floor has long term tenants. Second floor has been recently updated with everything new offering granite counters, hardwood floors throughout, central air and washer/dryer hookups in the unit. The 3rd floor unit needs work. Parking in the back of the property. Each unit is separately metered. Located one block down from Washington Park. Sold as-is.

Key facts

• Solid brick
• Three-family
• 3,484 sq ft lot

Tags

• SOLID BRICK
• THREE-FAMILY
• STRONG INCOME POTENTIAL
• WELL-MAINTAINED MULTI-FAMILY
• DESIRABLE NEIGHBORHOOD

Property features AI

Exterior

• Parking: Attached parking, total 3 spaces
• Utilities: Public water; Public sewer
• Home design: Triplex
• Construction: Brick exterior
• Exterior features: Brick construction; Lot approximately 0.08 acre

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: Three full bathrooms (one on each of 1st, 2nd and 3rd levels); Each unit includes one full bath
• Heating & cooling: Hot water heating
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $319k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $319k).
• Recommended offer: $309k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $5,353/mo this rent would consume 85% 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 $2k of loan paydown is wiped out by about $10k 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 $89k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $319k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $309,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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: 1.68% ✓
• Cap rate: 13.96%
• Cash-on-cash: 27.40%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $328,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
331 2nd St	0.27mi	8/3.5	3,450 (-2%)	3mo	$330,000	$96	79
78 Hill St	0.17mi	7/4.0 (-1)	3,474 (-2%)	6mo	$449,000	$129	75
381 3rd St	0.34mi	9/3.5 (+1)	3,372 (-4%)	4mo	$313,000	$93	67
335 Congress St	0.61mi	9/3.0 (+1)	3,462 (-2%)	2mo	$320,000	$92	61
180 Hill St	0.31mi	8/3.0	3,243 (-8%)	15mo	$338,000	$104	59
429 1st St	0.61mi	7/2.0 (-1)	3,576 (+1%)	6mo	$285,000	$80	55
324 4th St	0.12mi	9/3.0 (+1)	3,933 (+12%)	19mo	$225,000	$57	55
379 3rd St	0.33mi	8/3.0	3,820 (+8%)	23mo	$280,000	$73	51
331 3rd St	0.21mi	9/4.0 (+1)	3,880 (+10%)	18mo	$450,000	$116	50
192 4th St	0.30mi	8/3.0	3,175 (-10%)	24mo	$450,000	$142	49
382 4th St	0.25mi	9/3.0 (+1)	3,900 (+10%)	23mo	$312,000	$80	47
320 1st St	0.31mi	7/2.0 (-1)	3,017 (-14%)	20mo	$205,000	$68	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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.67×
• Total profit: $59,536
• Equity at exit: $47,564

10-year hold

• IRR: 26.3%
• Equity multiple: 3.54×
• Total profit: $226,755
• Equity at exit: $27,581

Cash invested: $89,320 (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: 14.9×

Monthly cashflow live

• Estimated rent: $5,353 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$384 /mo · $4,606/yr
• Insurance: −$133
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,124
• Net cashflow: $1,579

Break-even live

Break-even rent $3,354

Max offer price $319,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,759	-5% $1,669	+0% $1,579	+5% $1,489	+10% $1,398
Rent	-10% $1,156	-5% $1,367	+0% $1,579	+5% $1,790	+10% $2,002
Rate	-1.0pp $1,740	-0.5pp $1,660	base $1,579	+0.5pp $1,496	+1.0pp $1,412

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,352
Total (3 units)			$5,353

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2326 15th St Unit 2 Troy, NY	8.0	2.5	2500	$650	$0.26	15d	1	1.37mi

Listing history 25 events

1. 2026-06-15
   status $319,000 Pending 45 DOM
2. 2026-06-15
   days on market $319,000 Active 45 DOM
3. 2026-06-14
   days on market $319,000 Active 43 DOM
4. 2026-06-13
   days on market $319,000 Active 42 DOM
5. 2026-06-10
   days on market $319,000 Active 40 DOM
6. 2026-06-09
   days on market $319,000 Active 39 DOM
7. 2026-06-08
   days on market $319,000 Active 38 DOM
8. 2026-06-07
   days on market $319,000 Active 37 DOM
9. 2026-06-03
   pricedays on market $319,000 Active 33 DOM
10. 2026-06-02
    days on market $329,000 Active 32 DOM
11. 2026-06-01
    days on market $329,000 Active 31 DOM
12. 2026-05-31
    days on market $329,000 Active 30 DOM
13. 2026-05-31
    pricedays on market $329,000 Active 29 DOM
14. 2026-05-19
    status Active
15. 2026-05-06
    status Pending
16. 2026-04-18
    listed $339,000 Active
17. 2026-03-31
    historical
18. 2026-03-27
    listed $339,000 Active
19. 2023-02-09
    soldstatus $180,000
20. 2022-11-30
    status Pending 465-char remark

    Show marketing remark (465 chars)

    Multiple offer deadline Sunday 11/20 at 6pm. Great opportunity to own and finish this brick 3 unit in Troy. First floor has long term tenants. Second floor has been recently updated with everything new offering granite counters, hardwood floors throughout, central air and washer/dryer hookups in the unit. The 3rd floor unit needs work. Parking in the back of the property. Each unit is separately metered. Located one block down from Washington Park. Sold as-is.

21. 2022-11-14
    listed $190,000 Active 465-char remark

    Show marketing remark (465 chars)

    Multiple offer deadline Sunday 11/20 at 6pm. Great opportunity to own and finish this brick 3 unit in Troy. First floor has long term tenants. Second floor has been recently updated with everything new offering granite counters, hardwood floors throughout, central air and washer/dryer hookups in the unit. The 3rd floor unit needs work. Parking in the back of the property. Each unit is separately metered. Located one block down from Washington Park. Sold as-is.

22. 2005-10-31
    soldstatus $145,100
23. 2005-10-07
    soldstatus $145,100
24. 2005-09-07
    historical
25. 2005-08-29
    listed $139,900

ⓘ 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: $4,606 · $384/mo
• Projected year-2 tax: $4,998 · $417/mo
• Expected delta: +$393/yr (+$33/mo · 8.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $64,236
• − Mortgage interest: −$17,869
• − Property taxes: −$4,606
• − Insurance: −$7,120
• − Repairs & maintenance: −$5,139
• − Management: −$5,139
• − Depreciation: −$9,280
• Taxable income: $15,084
• Est. tax owed @ 24.0%: −$3,620
• After-tax cash flow: $15,326/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: 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

+142.3% since first listed

12 events — show timeline

• 2026-05-19 Relisted — Global MLS
• 2026-05-06 Pending — Global MLS
• 2026-04-18 Listed $339,000 Global MLS
• 2026-03-31 Listing Removed — Global MLS
• 2026-03-27 Listed $339,000 Global MLS
• 2023-02-09 Sold (Public Records) $180,000 Public Records
• 2022-11-30 Pending — Global MLS
• 2022-11-14 Listed $190,000 Global MLS
• 2005-10-31 Sold (Public Records) $145,100 Public Records
• 2005-10-07 Sold (MLS) $145,100 Global MLS
• 2005-09-07 Listing Removed — Global MLS
• 2005-08-29 Listed $139,900 Global MLS

Property tax history

+13.6%/yr

Latest (2025): $4,606 · -17.1% YoY. Source: county tax records.