None · Schenectady, NY 12308

$369,900

28 bd · 16.0 ba · 4,572 sqft · MultiFamily public records · 7 Days on market

Built 1960 4,791 sqft lot

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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 +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

WELL MAINTAINED 4 UNIT APARTMENT JUST SECONDS FROM UNION CAMPUS.NEW FURNACE 4/06,HOT WATER HEATER NEW IN MAY '06.SPOTLESS BASEMENT FEATURES PARTITIONED STORAGE FOR TENANTS. RENTS COULD BE HIGHER -- Excellent Condition

Key facts

• Local amenities
• 4,791 sq ft lot
• 3 garage spots

Tags

• 4 UNIT INVESTMENT OPPORTUNITY
• STRONG RENTAL POTENTIAL
• EASY ACCESS TO DOWNTOWN
• PUBLIC TRANSPORTATION
• LOCAL AMENITIES
• HIGHLY SOUGHT AFTER AREA

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive. Per door: $904/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $370k).
• Cap rate 18.0% vs local median 6.3% in Schenectady — 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 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 78 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $8,242/mo this rent would consume 156% of the median local household income ($63k/yr) (locally 1016% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $104k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $190k; list at $370k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $369,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.23% ✓
• Cap rate: 18.02%
• Cash-on-cash: 41.88%
• DSCR: 2.86
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 38.6%
• Equity multiple: 2.65×
• Total profit: $170,610
• Equity at exit: $55,153

10-year hold

• IRR: 45.0%
• Equity multiple: 5.31×
• Total profit: $446,359
• Equity at exit: $31,982

Cash invested: $103,572 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 78
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $8,242 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$803 /mo · $9,632/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,731
• Net cashflow: $3,615

Break-even live

Break-even rent $3,667

Max offer price $369,900

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$8,240
Total (4 units)			$8,242

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-01-16
   status Pending
2. 2026-01-08
   listed $369,900 Active
3. 2007-03-12
   soldstatus $190,000
4. 2007-02-21
   soldstatus $190,000 217-char remark

   Show marketing remark (217 chars)

   WELL MAINTAINED 4 UNIT APARTMENT JUST SECONDS FROM UNION CAMPUS.NEW FURNACE 4/06,HOT WATER HEATER NEW IN MAY '06.SPOTLESS BASEMENT FEATURES PARTITIONED STORAGE FOR TENANTS. RENTS COULD BE HIGHER -- Excellent Condition

5. 2007-01-02
   historical 217-char remark

   Show marketing remark (217 chars)

   WELL MAINTAINED 4 UNIT APARTMENT JUST SECONDS FROM UNION CAMPUS.NEW FURNACE 4/06,HOT WATER HEATER NEW IN MAY '06.SPOTLESS BASEMENT FEATURES PARTITIONED STORAGE FOR TENANTS. RENTS COULD BE HIGHER -- Excellent Condition

6. 2006-10-27
   listed $215,000 217-char remark

   Show marketing remark (217 chars)

   WELL MAINTAINED 4 UNIT APARTMENT JUST SECONDS FROM UNION CAMPUS.NEW FURNACE 4/06,HOT WATER HEATER NEW IN MAY '06.SPOTLESS BASEMENT FEATURES PARTITIONED STORAGE FOR TENANTS. RENTS COULD BE HIGHER -- Excellent Condition

7. 2000-11-13
   soldstatus $110,000

ⓘ 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: $9,632 · $803/mo
• Projected year-2 tax: $9,632 · $803/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°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: $98,904
• − Mortgage interest: −$20,720
• − Property taxes: −$9,632
• − Insurance: −$1,850
• − Repairs & maintenance: −$7,912
• − Management: −$7,912
• − Depreciation: −$10,761
• Taxable income: $40,117
• Est. tax owed @ 24.0%: −$9,628
• After-tax cash flow: $33,747/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: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

+236.3% since first listed

7 events — show timeline

• 2026-01-16 Pending — Global MLS
• 2026-01-08 Listed $369,900 Global MLS
• 2007-03-12 Sold (Public Records) $190,000 Public Records
• 2007-02-21 Sold (MLS) $190,000 Global MLS
• 2007-01-02 Listing Removed — Global MLS
• 2006-10-27 Listed $215,000 Global MLS
• 2000-11-13 Sold (Public Records) $110,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $9,632 · +0.6% YoY. Source: county tax records.