49 Christie St · Troy, NY 12180

$350,000

5 bd · 2.0 ba · 2,376 sqft · MultiFamily public records · 34 Days on market

Built 1900 3,920 sqft lot

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Check out this well maintained two family property within walking distance to RPI. Featuring hardwood floors and character throughout, this over/under duplex sits on a double lot with off street parking. First floor offers a double living room, dining room, kitchen, and direct access to the walkout, partially finished basement, offering potential to easily add more bedrooms and living space and maximize income. Second floor features 4 bedrooms, living room and efficient kitchen as well as an enclosed back porch. Laundry on-site. This well cared for building is perfect for an owner occupant or an investor looking to capitalize on income and location. Book your appointment today!

Key facts

• Troy school district
• Roomy backyard
• Double lot

Tags

• DOUBLE LOT
• OFF-STREET PARKING
• ROOMY BACKYARD
• TROY SCHOOL DISTRICT

Property features AI

Exterior

• Parking: Off-street parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex
• Construction: Vinyl siding construction; Approximately 200 sq ft of finished below-grade space
• Exterior features: Vinyl siding; Lot approximately 0.09 acre (about 3,920 sq ft)

Interior

• Kitchen: One kitchen in each unit
• Bedrooms: Unit 1: 1 bedroom on the 1st floor; Unit 2: 4 bedrooms on the 2nd floor
• Bathrooms: Two full bathrooms total; Unit 1: 1 full bathroom on the 1st floor; Unit 2: 1 full bathroom on the 2nd floor
• Heating & cooling: Hot water heating
• Interior features: Full basement with interior and exterior entry and walk-out access; Two separate dwelling units (duplex)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $79 ($947/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $301k (14.0% below list).
• Recommended offer: $301k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.3% in Troy — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 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.
• Zoned schools: Ps 14 (math 47% / reading 42%, grade F, #1,277 of 2,108 statewide, top 64%, 425 students, 76% FRL); Troy Middle School (math 22% / reading 43%, grade F, #504 of 729 statewide, top 70%, 786 students, 72% FRL); Troy High School (math 95% / reading 77%, grade A, #347 of 1,100 statewide, top 32%, 1,153 students, 64% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $3,011/mo this rent would consume 48% 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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $268k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $301,100 (14.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $232,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
76 13th St	0.19mi	6/2.0 (+1)	2,332 (-2%)	15mo	$355,000	$152	71
192 Hill St	0.54mi	5/2.0	2,260 (-5%)	2mo	$275,500	$122	65
103 Ferry St	0.60mi	5/2.0	2,362 (-1%)	10mo	$236,900	$100	63
1822 Highland Ave	0.25mi	4/2.0 (-1)	2,110 (-11%)	3mo	$185,000	$88	62
1266 5th Ave	0.57mi	6/2.0 (+1)	2,540 (+7%)	1mo	$240,000	$94	56
63 13th St	0.16mi	6/2.0 (+1)	2,080 (-12%)	15mo	$220,000	$106	54
1317 15th St	0.09mi	4/2.0 (-1)	2,050 (-14%)	17mo	$200,000	$98	54
107 Hill St	0.61mi	4/2.0 (-1)	2,436 (+2%)	15mo	$189,000	$78	50
329 4th St	0.74mi	5/2.0	2,266 (-5%)	10mo	$330,000	$146	49
117 Jefferson St	0.64mi	5/2.0	2,244 (-6%)	16mo	$96,000	$43	47
327 4th St	0.74mi	5/2.0	2,720 (+14%)	5mo	$215,000	$79	37
277 4th St	0.69mi	4/3.0 (-1)	2,720 (+14%)	3mo	$240,000	$88	33

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: -12.8%
• Equity multiple: 0.53×
• Total profit: $-45,915
• Equity at exit: $52,186

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-8,882
• Equity at exit: $30,262

Cash invested: $98,000 (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: 18.5×

Monthly cashflow live

• Estimated rent: $3,011 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$319 /mo · $3,822/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $79

Break-even live

Break-even rent $2,911

Max offer price $350,000

Occupancy floor 92%

Sensitivity live

Price	-10% $277	-5% $178	+0% $79	+5% $-20	+10% $-119
Rent	-10% $-159	-5% $-40	+0% $79	+5% $198	+10% $317
Rate	-1.0pp $255	-0.5pp $168	base $79	+0.5pp $-12	+1.0pp $-104

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,579
1× unit	3	1	$1,433
Total (2 units)			$3,011

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 14th St Unit 2 Troy, NY	4.0	2.0	2000	$725	$0.36	21d	1	0.09mi
97 14th St Unit 2 Troy, NY	5.0	2.0	1600	$625	$0.39	21d	1	0.14mi
1820 Highland Ave Unit 2 Troy, NY	4.0	2.0	1680	$725	$0.43	21d	1	0.26mi
904 Peoples Ave Troy, NY	4.0	1.0	1800	$645	$0.36	21d	1	0.66mi
150 2nd St Troy, NY	4.0	1.5	2442	$3,000	$1.23	23d	1	0.74mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$3,635	$2.01	16d	7	0.80mi

Listing history 29 events

1. 2026-06-21
   days on market $350,000 Active 34 DOM
2. 2026-06-18
   days on market $350,000 Active 31 DOM
3. 2026-06-17
   days on market $350,000 Active 30 DOM
4. 2026-06-16
   days on market $350,000 Active 29 DOM
5. 2026-06-15
   days on market $350,000 Active 28 DOM
6. 2026-06-14
   days on market $350,000 Active 26 DOM
7. 2026-06-13
   days on market $350,000 Active 25 DOM
8. 2026-06-10
   days on market $350,000 Active 23 DOM
9. 2026-06-09
   days on market $350,000 Active 22 DOM
10. 2026-06-08
    days on market $350,000 Active 21 DOM
11. 2026-06-07
    days on market $350,000 Active 20 DOM
12. 2026-06-03
    days on market $350,000 Active 16 DOM
13. 2026-06-02
    days on market $350,000 Active 15 DOM
14. 2026-06-01
    days on market $350,000 Active 14 DOM
15. 2026-05-31
    days on market $350,000 Active 13 DOM
16. 2026-05-31
    days on market $350,000 Active 12 DOM
17. 2026-05-18
    listed $350,000 Active
18. 2024-05-07
    soldstatus $268,000
19. 2024-04-11
    soldstatus $268,000 Closed 686-char remark

    Show marketing remark (686 chars)

    Check out this well maintained two family property within walking distance to RPI. Featuring hardwood floors and character throughout, this over/under duplex sits on a double lot with off street parking. First floor offers a double living room, dining room, kitchen, and direct access to the walkout, partially finished basement, offering potential to easily add more bedrooms and living space and maximize income. Second floor features 4 bedrooms, living room and efficient kitchen as well as an enclosed back porch. Laundry on-site. This well cared for building is perfect for an owner occupant or an investor looking to capitalize on income and location. Book your appointment today!

20. 2024-02-16
    status Pending 686-char remark

    Show marketing remark (686 chars)

    Check out this well maintained two family property within walking distance to RPI. Featuring hardwood floors and character throughout, this over/under duplex sits on a double lot with off street parking. First floor offers a double living room, dining room, kitchen, and direct access to the walkout, partially finished basement, offering potential to easily add more bedrooms and living space and maximize income. Second floor features 4 bedrooms, living room and efficient kitchen as well as an enclosed back porch. Laundry on-site. This well cared for building is perfect for an owner occupant or an investor looking to capitalize on income and location. Book your appointment today!

21. 2024-02-12
    listed $259,000 Active 686-char remark

    Show marketing remark (686 chars)

    Check out this well maintained two family property within walking distance to RPI. Featuring hardwood floors and character throughout, this over/under duplex sits on a double lot with off street parking. First floor offers a double living room, dining room, kitchen, and direct access to the walkout, partially finished basement, offering potential to easily add more bedrooms and living space and maximize income. Second floor features 4 bedrooms, living room and efficient kitchen as well as an enclosed back porch. Laundry on-site. This well cared for building is perfect for an owner occupant or an investor looking to capitalize on income and location. Book your appointment today!

22. 2021-03-03
    soldstatus $205,000
23. 2021-02-26
    soldstatus $198,850 Closed (Final Sale) 407-char remark

    Show marketing remark (407 chars)

    Extremely well cared for Two family bldg. used for Graduate student rentals at RPI. Easy management and low maintenance. HW floors, replacement windows, updated kitchens, private deck. Attached side lot allows for additional off street parking or future expansion. Positive cash flow. Agent to accompany. 48 hour notice. Proof of funds required prior to showing. Contact LBO for showing. Exclusions on file.

24. 2020-12-11
    status Pend (Under Cntr) 407-char remark

    Show marketing remark (407 chars)

    Extremely well cared for Two family bldg. used for Graduate student rentals at RPI. Easy management and low maintenance. HW floors, replacement windows, updated kitchens, private deck. Attached side lot allows for additional off street parking or future expansion. Positive cash flow. Agent to accompany. 48 hour notice. Proof of funds required prior to showing. Contact LBO for showing. Exclusions on file.

25. 2020-11-25
    listed $207,500 New 407-char remark

    Show marketing remark (407 chars)

    Extremely well cared for Two family bldg. used for Graduate student rentals at RPI. Easy management and low maintenance. HW floors, replacement windows, updated kitchens, private deck. Attached side lot allows for additional off street parking or future expansion. Positive cash flow. Agent to accompany. 48 hour notice. Proof of funds required prior to showing. Contact LBO for showing. Exclusions on file.

26. 2012-03-19
    soldstatus $118,000
27. 2012-03-02
    soldstatus $123,000
28. 2011-07-22
    historical
29. 2011-05-20
    listed $125,000

ⓘ 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: $3,822 · $319/mo
• Projected year-2 tax: $4,869 · $406/mo
• Expected delta: +$1,046/yr (+$87/mo · 27.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $36,132
• − Mortgage interest: −$19,605
• − Property taxes: −$3,822
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,891
• − Management: −$2,891
• − Depreciation: −$10,182
• Taxable loss: −$5,009
• Est. tax savings @ 24.0%: +$1,202
• After-tax cash flow: $2,149/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

+180.0% since first listed

13 events — show timeline

• 2026-05-18 Listed $350,000 Global MLS
• 2024-05-07 Sold (Public Records) $268,000 Public Records
• 2024-04-11 Sold (MLS) $268,000 Global MLS
• 2024-02-16 Pending — Global MLS
• 2024-02-12 Listed $259,000 Global MLS
• 2021-03-03 Sold (Public Records) $205,000 Public Records
• 2021-02-26 Sold (MLS) $198,850 Global MLS
• 2020-12-11 Pending — Global MLS
• 2020-11-25 Listed $207,500 Global MLS
• 2012-03-19 Sold (Public Records) $118,000 Public Records
• 2012-03-02 Sold (MLS) $123,000 Global MLS
• 2011-07-22 Listing Removed — Global MLS
• 2011-05-20 Listed $125,000 Global MLS

Property tax history

+13.0%/yr

Latest (2025): $3,822 · -30.0% YoY. Source: county tax records.