104 2nd Ave · Troy, NY 12180

$250,000

6 bd · 2.0 ba · 2,434 sqft · MultiFamily public records · 51 Days on market

Built 1910 3,920 sqft lot Est $224k · 12% over

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

Key facts

• 3,920 sq ft lot
• Built 1910
• Listed 51 days

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Security: Fire alarm
• Utilities: Public water; Public sewer
• Home design: Duplex; Flat roof
• Construction: Brick and vinyl siding exterior
• Exterior features: Front porch; Wood and other fencing

Interior

• Bedrooms: Unit 1: 1 bedroom (1st level); Unit 2: 6 bedrooms
• Bathrooms: 2 full bathrooms total; Full bath on 1st level; Full bath on 2nd level; Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Baseboard heating; Forced air heating; Window air conditioning units
• Interior features: Interior-entry basement; Fire alarm

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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 $3,324/mo this rent would consume 53% 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 $8k 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 $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 9 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 $92k; list at $250k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.73%
• DSCR: 1.70
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $223,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 2nd Ave	0.08mi	6/2.0	2,396 (-2%)	3mo	$220,000	$92	91
172 6th Ave	0.20mi	6/2.0	2,454 (+1%)	1mo	$220,000	$90	88
57 5th Ave	0.15mi	7/2.0 (+1)	2,418 (-1%)	4mo	$240,000	$99	83
83 2nd Ave	0.06mi	6/3.0	2,608 (+7%)	2mo	$375,000	$144	79
48 5th Ave	0.18mi	6/2.0	2,238 (-8%)	2mo	$236,500	$106	77
33 Second Ave	0.16mi	6/2.0	2,620 (+8%)	7mo	$150,000	$57	74
145 6th Ave	0.14mi	6/2.0	2,154 (-12%)	2mo	$210,000	$97	72
70 6th Ave	0.18mi	6/2.5	2,104 (-14%)	0mo	$179,900	$86	66
146 6th Ave	0.16mi	6/2.5	2,770 (+14%)	5mo	$265,000	$96	63
23 Glen Ave	0.36mi	5/2.0 (-1)	2,200 (-10%)	1mo	$95,000	$43	61
288 5th Ave	0.48mi	6/2.0	2,216 (-9%)	4mo	$140,000	$63	59
3161 6th Ave	0.47mi	6/2.0	2,100 (-14%)	6mo	$130,000	$62	50

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: 8.7%
• Equity multiple: 1.35×
• Total profit: $24,376
• Equity at exit: $37,276

10-year hold

• IRR: 19.4%
• Equity multiple: 2.77×
• Total profit: $123,951
• Equity at exit: $21,615

Cash invested: $70,000 (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: 12.5×

Monthly cashflow live

• Estimated rent: $3,324 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$293 /mo · $3,518/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $918

Break-even live

Break-even rent $2,162

Max offer price $250,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,324
Total (2 units)			$3,324

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $250,000 Active 51 DOM
2. 2026-06-17
   days on market $250,000 Active 50 DOM
3. 2026-06-16
   days on market $250,000 Active 49 DOM
4. 2026-06-15
   days on market $250,000 Active 48 DOM
5. 2026-06-14
   days on market $250,000 Active 46 DOM
6. 2026-06-10
   days on market $250,000 Active 43 DOM
7. 2026-06-09
   days on market $250,000 Active 42 DOM
8. 2026-06-08
   days on market $250,000 Active 41 DOM
9. 2026-06-07
   days on market $250,000 Active 40 DOM
10. 2026-06-05
    days on market $250,000 Active 37 DOM
11. 2026-06-03
    days on market $250,000 Active 36 DOM
12. 2026-06-02
    days on market $250,000 Active 35 DOM
13. 2026-06-01
    days on market $250,000 Active 34 DOM
14. 2026-05-31
    days on market $250,000 Active 33 DOM
15. 2026-05-31
    days on market $250,000 Active 32 DOM
16. 2026-05-18
    status Active
17. 2026-04-15
    status Pending
18. 2026-04-11
    status Active
19. 2026-02-21
    status Pending
20. 2026-02-16
    status Active
21. 2026-01-04
    status Pending
22. 2025-12-23
    listed $250,000 Active
23. 2017-12-07
    soldstatus $91,500
24. 2017-11-21
    soldstatus $91,500 Closed (Final Sale) 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

25. 2017-10-12
    status Pend (Under Cntr) 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

26. 2017-09-22
    price $95,000 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

27. 2017-09-03
    status Back On Market 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

28. 2017-08-28
    status Pend (Under Cntr) 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

29. 2017-07-29
    price $98,500 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

30. 2017-07-13
    status Back On Market 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

31. 2017-06-19
    status Pend (Under Cntr) 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

32. 2017-06-07
    listed $99,800 New 482-char remark

    Show marketing remark (482 chars)

    Back on market - contract not approved. Nice 2-Family home close to Hoosick St and 787. Main unit features 5 bedrooms, expanded to the 2nd floor, with exposed brick, eat-in kitchen, spacious formal dining and living room. Nice fenced in yard. 2nd Floor Unit features 1 bedroom, full bath, living room and kitchen. Great affordable property for owner-occupant, or a great investment with solid long-term tenants. Rents could go for much higher. Set up a showing today. Good Condition

33. 2011-02-15
    soldstatus $57,000
34. 2011-02-10
    soldstatus $57,000 75-char remark

    Show marketing remark (75 chars)

    Custom remodeled 2 family. Great for owner occupied! Nice fenced rear yard!

35. 2011-01-11
    historical 75-char remark

    Show marketing remark (75 chars)

    Custom remodeled 2 family. Great for owner occupied! Nice fenced rear yard!

36. 2009-11-10
    listed $65,500 75-char remark

    Show marketing remark (75 chars)

    Custom remodeled 2 family. Great for owner occupied! Nice fenced rear yard!

37. 2008-11-12
    historical
38. 2007-07-18
    listed $104,900

ⓘ 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: $3,518 · $293/mo
• Projected year-2 tax: $3,871 · $323/mo
• Expected delta: +$354/yr (+$29/mo · 10.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $39,888
• − Mortgage interest: −$14,004
• − Property taxes: −$3,518
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,191
• − Management: −$3,191
• − Depreciation: −$7,273
• Taxable income: $7,462
• Est. tax owed @ 24.0%: −$1,791
• After-tax cash flow: $9,221/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 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

+138.3% since first listed

23 events — show timeline

• 2026-05-18 Relisted — Global MLS
• 2026-04-15 Pending — Global MLS
• 2026-04-11 Relisted — Global MLS
• 2026-02-21 Pending — Global MLS
• 2026-02-16 Relisted — Global MLS
• 2026-01-04 Pending — Global MLS
• 2025-12-23 Listed $250,000 Global MLS
• 2017-12-07 Sold (Public Records) $91,500 Public Records
• 2017-11-21 Sold (MLS) $91,500 Global MLS
• 2017-10-12 Pending — Global MLS
• 2017-09-22 Price Changed $95,000 Global MLS
• 2017-09-03 Relisted — Global MLS
• 2017-08-28 Pending — Global MLS
• 2017-07-29 Price Changed $98,500 Global MLS
• 2017-07-13 Relisted — Global MLS
• 2017-06-19 Pending — Global MLS
• 2017-06-07 Listed $99,800 Global MLS
• 2011-02-15 Sold (Public Records) $57,000 Public Records
• 2011-02-10 Sold (MLS) $57,000 Global MLS
• 2011-01-11 Listing Removed — Global MLS
• 2009-11-10 Listed $65,500 Global MLS
• 2008-11-12 Listing Removed — Global MLS
• 2007-07-18 Listed $104,900 Global MLS

Property tax history

+15.5%/yr

Latest (2025): $3,518 · +1.3% YoY. Source: county tax records.