413 5th Ave · Troy, NY 12182

$235,500

5 bd · 2.0 ba · 2,292 sqft · MultiFamily public records · 28 Days on market

Built 1940 3,049 sqft lot Est $227k · 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +5.8/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Incredibly maintained Brick 2 family in North Troy. Gas hot air in both flats, all separate utilities including water, roof 10 years young, newer windows & off street parking. Long time tenant downstairs and leased up, (rents could both be higher) All mechanicals are either newer or well maintained. 3 BR up, 2 BR down, LR, DR, eat in kitchens & fenced in backyard. Property right one bus line and close to everything. Great to owner occupy or investment w/ no work to be done! Taxes do not reflect star. Very Good Condition

Key facts

• Separate utilities
• Mechanicals updated
• Off street parking

Tags

• OFF STREET PARKING
• BRICK 2 FAMILY HOME
• EAT-IN KITCHENS
• DINING ROOMS
• SEPARATE UTILITIES
• MECHANICALS UPDATED

Property features AI

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area approximately 2,292
• Construction: Brick construction
• Exterior features: Rubber roof; Other exterior features

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms
• Bathrooms: 2 full bathrooms (one on 1st level, one on 2nd level); Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished walk-out basement; Laundry closet
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $236k.

Deal economics

• At list price, monthly cash flow is $826 ($10k/yr) — positive. Per door: $413/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $236k).
• Recommended offer: $232k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: 75 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 3.0% rent growth), your $66k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $149k; list at $236k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,967 (1.5% below list)

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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.38% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $226,908
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 7th Ave	0.15mi	6/2.0 (+1)	2,112 (-8%)	2mo	$205,000	$97	73
33 110th St	0.03mi	4/2.0 (-1)	2,026 (-12%)	5mo	$205,000	$101	70
288 5th Ave	0.36mi	6/2.0 (+1)	2,216 (-3%)	4mo	$140,000	$63	69
418 7th Ave	0.15mi	5/2.0	2,025 (-12%)	6mo	$227,000	$112	68
106 Continental Ave	0.56mi	6/2.0 (+1)	2,388 (+4%)	1mo	$250,000	$105	61
69 Heartt Ave	0.66mi	4/2.0 (-1)	2,300 (+0%)	3mo	$278,000	$121	61
43 Continental Ave	0.63mi	6/2.0 (+1)	2,332 (+2%)	7mo	$230,000	$99	57
172 6th Ave	0.67mi	6/2.0 (+1)	2,454 (+7%)	1mo	$220,000	$90	51
145 6th Ave	0.74mi	6/2.0 (+1)	2,154 (-6%)	2mo	$210,000	$97	48
670 5th Ave	0.71mi	5/3.0	2,440 (+6%)	5mo	$231,500	$95	48
66 Park Ave	0.72mi	6/2.0 (+1)	2,464 (+8%)	3mo	$220,000	$89	47
662 5th Ave	0.68mi	6/2.0 (+1)	2,475 (+8%)	6mo	$244,215	$99	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.22×
• Total profit: $14,533
• Equity at exit: $35,114

10-year hold

• IRR: 15.1%
• Equity multiple: 2.23×
• Total profit: $80,832
• Equity at exit: $20,362

Cash invested: $65,940 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $3,245 high
• Mortgage (P&I): −$1,235
• Tax from tax record: −$349 /mo · $4,193/yr
• Insurance: −$98
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$681
• Net cashflow: $826

Break-even live

Break-even rent $2,200

Max offer price $235,500

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,246
Total (2 units)			$3,245

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: $58,875
• Closing costs: $7,065
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $235,500 Active 28 DOM
2. 2026-06-17
   days on market $235,500 Active 27 DOM
3. 2026-06-16
   days on market $235,500 Active 26 DOM
4. 2026-06-15
   days on market $235,500 Active 25 DOM
5. 2026-06-14
   days on market $235,500 Active 23 DOM
6. 2026-06-10
   days on market $235,500 Active 20 DOM
7. 2026-06-09
   days on market $235,500 Active 19 DOM
8. 2026-06-09
   price $235,500 Active 18 DOM
9. 2026-06-08
   days on market $245,500 Active 18 DOM
10. 2026-06-07
    days on market $245,500 Active 17 DOM
11. 2026-06-05
    days on market $245,500 Active 14 DOM
12. 2026-06-03
    days on market $245,500 Active 13 DOM
13. 2026-06-02
    days on market $245,500 Active 12 DOM
14. 2026-06-01
    days on market $245,500 Active 11 DOM
15. 2026-05-31
    days on market $245,500 Active 10 DOM
16. 2026-05-31
    days on market $245,500 Active 9 DOM
17. 2026-05-21
    listed $245,500 Active
18. 2019-04-29
    soldstatus $148,950 Closed (Final Sale) 533-char remark

    Show marketing remark (533 chars)

    Incredibly maintained Brick 2 family in North Troy. Gas hot air in both flats, all separate utilities including water, roof 10 years young, newer windows & off street parking. Long time tenant downstairs and leased up, (rents could both be higher) All mechanicals are either newer or well maintained. 3 BR up, 2 BR down, LR, DR, eat in kitchens & fenced in backyard. Property right one bus line and close to everything. Great to owner occupy or investment w/ no work to be done! Taxes do not reflect star. Very Good Condition

19. 2019-04-29
    soldstatus $145,758

    Show marketing remark (533 chars)

    Incredibly maintained Brick 2 family in North Troy. Gas hot air in both flats, all separate utilities including water, roof 10 years young, newer windows & off street parking. Long time tenant downstairs and leased up, (rents could both be higher) All mechanicals are either newer or well maintained. 3 BR up, 2 BR down, LR, DR, eat in kitchens & fenced in backyard. Property right one bus line and close to everything. Great to owner occupy or investment w/ no work to be done! Taxes do not reflect star. Very Good Condition

20. 2019-01-24
    status Pend (Under Cntr) 533-char remark

    Show marketing remark (533 chars)

    Incredibly maintained Brick 2 family in North Troy. Gas hot air in both flats, all separate utilities including water, roof 10 years young, newer windows & off street parking. Long time tenant downstairs and leased up, (rents could both be higher) All mechanicals are either newer or well maintained. 3 BR up, 2 BR down, LR, DR, eat in kitchens & fenced in backyard. Property right one bus line and close to everything. Great to owner occupy or investment w/ no work to be done! Taxes do not reflect star. Very Good Condition

21. 2018-10-09
    listed $149,900 New 533-char remark

    Show marketing remark (533 chars)

    Incredibly maintained Brick 2 family in North Troy. Gas hot air in both flats, all separate utilities including water, roof 10 years young, newer windows & off street parking. Long time tenant downstairs and leased up, (rents could both be higher) All mechanicals are either newer or well maintained. 3 BR up, 2 BR down, LR, DR, eat in kitchens & fenced in backyard. Property right one bus line and close to everything. Great to owner occupy or investment w/ no work to be done! Taxes do not reflect star. Very Good Condition

22. 1993-02-23
    soldstatus $75,000

ⓘ 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: $4,193 · $349/mo
• Projected year-2 tax: $4,193 · $349/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 8/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 4/10 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: $38,940
• − Mortgage interest: −$13,192
• − Property taxes: −$4,193
• − Insurance: −$1,844
• − Repairs & maintenance: −$3,115
• − Management: −$3,115
• − Depreciation: −$6,851
• Taxable income: $6,630
• Est. tax owed @ 24.0%: −$1,591
• After-tax cash flow: $8,315/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
• City population: 53,479
• Population (ZIP): 14,273

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 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

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: ▼ -50.58%
• Current HPI: 273.5758
• 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

+227.3% since first listed

6 events — show timeline

• 2026-05-21 Listed $245,500 Global MLS
• 2019-04-29 Sold (Public Records) $145,758 Public Records
• 2019-04-29 Sold (MLS) $148,950 Global MLS
• 2019-01-24 Pending — Global MLS
• 2018-10-09 Listed $149,900 Global MLS
• 1993-02-23 Sold (Public Records) $75,000 Public Records

Property tax history

+17.3%/yr

Latest (2025): $4,193 · +20.7% YoY. Source: county tax records.