27 Catherine St · Schenectady, NY 12307

$275,000

6 bd · 2.0 ba · 2,120 sqft · MultiFamily public records · 36 Days on market

Built 1910 3,049 sqft lot $130/sqft · 6% below area Est $293k · 6% under

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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 +18.2/30.0
• ARV discount +10.2/15.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Great investment - lender owned and priced to sell!

Key facts

• Large dry basement
• Separate utilities
• Laundry area

Tags

• TWO-UNIT MULTIFAMILY PROPERTY
• SEPARATE UTILITIES
• DETACHED GARAGE
• WALK-UP ATTIC
• LARGE DRY BASEMENT
• LAUNDRY AREA

Property features AI

Exterior

• Parking: Detached garage; Garage (1 garage space); Total parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved driveway; Off-street parking

Interior

• Bedrooms: Unit 1: 4 bedrooms; Unit 2: 3 bedrooms
• Bathrooms: Two full bathrooms total; One full bath on the 1st level; One full bath on the 2nd level; Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement; Two separate dwelling units (duplex)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.

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: 33 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $35k; list at $275k implies a 686% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.2

CMA / ARV

• ARV (median comp): $292,722
• List price: $275,000
• Delta: -6.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Hawk St	0.21mi	6/2.0	2,142 (+1%)	11mo	$285,000	$133	79
16 Paulding St	0.29mi	6/2.0	2,078 (-2%)	5mo	$205,000	$99	79
21 Hawk St	0.24mi	6/2.0	2,294 (+8%)	0mo	$334,750	$146	75
5 Hawk St	0.25mi	6/2.0	2,294 (+8%)	1mo	$325,000	$142	74
762 Eastern Ave	0.38mi	6/2.0	2,205 (+4%)	3mo	$269,900	$122	73
12 Paulding St	0.30mi	5/2.0 (-1)	2,112 (-0%)	11mo	$190,000	$90	72
1 Chestnut St	0.11mi	6/3.0	2,406 (+14%)	2mo	$290,000	$121	67
5 Barney St	0.32mi	6/2.0	2,280 (+8%)	9mo	$250,000	$110	65
634 Hamilton St	0.49mi	5/2.0 (-1)	2,024 (-4%)	0mo	$210,000	$104	64
309 Division St	0.74mi	6/2.0	2,232 (+5%)	4mo	$275,000	$123	53
1318 Poplar St	0.43mi	6/2.0	2,408 (+14%)	10mo	$310,000	$129	49
1218 Albany St	0.70mi	6/2.0	2,242 (+6%)	11mo	$255,000	$114	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 3.15×
• Total profit: $165,579
• Equity at exit: $247,742

10-year hold

• IRR: 23.7%
• Equity multiple: 7.17×
• Total profit: $475,386
• Equity at exit: $534,265

Cash invested: $77,000 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $2,790 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$400 /mo · $4,805/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $247

Break-even live

Break-even rent $2,477

Max offer price $275,000

Occupancy floor 86%

Sensitivity live

Price	-10% $403	-5% $325	+0% $247	+5% $169	+10% $91
Rent	-10% $27	-5% $137	+0% $247	+5% $357	+10% $467
Rate	-1.0pp $385	-0.5pp $317	base $247	+0.5pp $176	+1.0pp $103

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,790
Total (2 units)			$2,790

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $275,000 Active 36 DOM
2. 2026-06-17
   days on market $275,000 Active 35 DOM
3. 2026-06-16
   days on market $275,000 Active 34 DOM
4. 2026-06-15
   days on market $275,000 Active 33 DOM
5. 2026-06-14
   days on market $275,000 Active 31 DOM
6. 2026-06-13
   days on market $275,000 Active 30 DOM
7. 2026-06-10
   days on market $275,000 Active 28 DOM
8. 2026-06-09
   days on market $275,000 Active 27 DOM
9. 2026-06-08
   days on market $275,000 Active 26 DOM
10. 2026-06-07
    days on market $275,000 Active 25 DOM
11. 2026-06-03
    days on market $275,000 Active 21 DOM
12. 2026-06-02
    days on market $275,000 Active 20 DOM
13. 2026-06-01
    days on market $275,000 Active 19 DOM
14. 2026-05-31
    days on market $275,000 Active 18 DOM
15. 2026-05-31
    days on market $275,000 Active 17 DOM
16. 2026-05-13
    listed $285,000 Active 673-char remark
17. 2010-04-30
    soldstatus $35,000
18. 2008-12-29
    historical
19. 2008-08-28
    listed $69,000
20. 2008-05-28
    soldstatus $29,000
21. 2008-04-28
    soldstatus $29,000

    Show marketing remark (51 chars)

    Great investment - lender owned and priced to sell!

22. 2008-04-01
    historical

    Show marketing remark (51 chars)

    Great investment - lender owned and priced to sell!

23. 2008-03-24
    listed $27,650

    Show marketing remark (51 chars)

    Great investment - lender owned and priced to sell!

24. 2005-02-25
    soldstatus $45,000
25. 2005-02-11
    soldstatus $44,000
26. 2004-12-10
    historical
27. 2004-12-03
    listed $48,000
28. 2003-12-15
    soldstatus $35,000
29. 2003-12-12
    soldstatus $35,000
30. 2003-10-10
    historical
31. 2003-09-13
    listed $39,900

ⓘ 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: $4,805 · $400/mo
• Projected year-2 tax: $4,805 · $400/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: $33,480
• − Mortgage interest: −$15,404
• − Property taxes: −$4,805
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,678
• − Management: −$2,678
• − Depreciation: −$8,000
• Taxable loss: −$1,461
• Est. tax savings @ 24.0%: +$351
• After-tax cash flow: $3,314/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
• City population: 141,369
• Population (ZIP): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 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: ▲ 12.60%
• Current HPI: 398.0252
• Rent YoY: —
• Metro: —
• 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

+589.2% since first listed

17 events — show timeline

• 2026-05-19 Price Changed $275,000 Global MLS
• 2026-05-13 Listed $285,000 Global MLS
• 2010-04-30 Sold (Public Records) $35,000 Public Records
• 2008-12-29 Listing Removed — Global MLS
• 2008-08-28 Listed $69,000 Global MLS
• 2008-05-28 Sold (Public Records) $29,000 Public Records
• 2008-04-28 Sold (MLS) $29,000 Global MLS
• 2008-04-01 Listing Removed — Global MLS
• 2008-03-24 Listed $27,650 Global MLS
• 2005-02-25 Sold (Public Records) $45,000 Public Records
• 2005-02-11 Sold (MLS) $44,000 Global MLS
• 2004-12-10 Listing Removed — Global MLS
• 2004-12-03 Listed $48,000 Global MLS
• 2003-12-15 Sold (Public Records) $35,000 Public Records
• 2003-12-12 Sold (MLS) $35,000 Global MLS
• 2003-10-10 Listing Removed — Global MLS
• 2003-09-13 Listed $39,900 Global MLS

Property tax history

+0.9%/yr

Latest (2025): $4,805 · +4.0% YoY. Source: county tax records.