1522 7th Ave · Watervliet, NY 12189

$239,900

2 bd · 2.0 ba · 1,280 sqft · MultiFamily public records · 7 Days on market

Built 1890 3,049 sqft lot

---

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 +24.3/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• 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: 2 units. confirmed

Listing remarks MLS

1st Open House Sunday Dec 8th 12-2 PM Preppy cozy money maker, great owner occupied or rental. long tern tenants, fenced rear yard and 3 car off street parking. Updated, separate utilities each unit, heated back porches w/washer dryer hookups. Newer windows. Nice sized bedrooms with 1 Bedroom down & 1 Bedroom plus den up. Very manageable investment property. Taxes w/o STAR. This is a unique must see property! Be the next lucky owner. Excellent Condition

Key facts

• Fully renovated
• Separate utilities
• Updated baths

Tags

• FULLY RENOVATED
• UPDATED KITCHENS
• UPDATED BATHS
• SEPARATE UTILITIES
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Two-unit property; Tenants responsible for heat, electricity, and gas; Owner responsible for water, sewer, and trash collection

Exterior

• Parking: Off-street parking for 3 vehicles
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Duplex; Lot dimensions approximately 30 x 100
• Construction: Aluminum siding; Shingle/asphalt roof
• Exterior features: Fenced lot; Level, cleared lot

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 1 bedroom on the 1st floor; Unit 2: 1 bedroom on the 2nd floor
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms total; Full bath in Unit 1 on the 1st floor; Full bath in Unit 2 on the 2nd floor
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: High-speed internet available; Walk-in closet(s); Full basement
• Laundry & utility: Laundry on the main level; Laundry on the upper level

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive. Per door: $242/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 8.7% vs local median 5.9% in Watervliet — 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 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,755/mo this rent would consume 51% of the median local household income ($65k/yr) (locally 1224% 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 $7k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $67k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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 $192k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,900

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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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: 1.15% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.66%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $2,428
• Equity at exit: $35,770

10-year hold

• IRR: 13.9%
• Equity multiple: 2.31×
• Total profit: $87,954
• Equity at exit: $20,742

Cash invested: $67,172 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,755 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$334 /mo · $4,005/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $485

Break-even live

Break-even rent $2,141

Max offer price $239,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,754
Total (2 units)			$2,755

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1417 7th Ave Unit 2 Watervliet, NY	2.0	1.0	1000	$2,200	$2.20	14d	1	0.07mi
1513 5th Ave Unit 2 Watervliet, NY	3.0	1.0	1200	$1,550	$1.29	14d	1	0.09mi
1534 5th Ave #1 Watervliet, NY	3.0	1.0	1200	$1,595	$1.33	43d	1	0.12mi
22 13th St Watervliet, NY	2.0	1.5	900	$1,600	$1.78	43d	1	0.38mi
2413 6th Ave Unit 1 Watervliet, NY	2.0	1.0	900	$1,550	$1.72	43d	1	0.55mi
2 River St Troy, NY	2.0	1.0–2.5	945	$2,650	$2.80	14d	6	0.62mi
2327 12th Ave Unit 1 Watervliet, NY	2.0	1.0	1000	$1,500	$1.50	43d	1	0.63mi
155 River St Unit 3C Troy, NY	2.0	1.0	1100	$2,000	$1.82	14d	1	0.65mi
155 River St Unit 5D Troy, NY	2.0	1.0	900	$2,000	$2.22	43d	1	0.65mi
13 Fenimore Trace Apartments Watervliet, NY	1.0–2.0	1.0–2.0	827	$1,785	$2.16	14d	1	0.77mi
53-55 Congress St Troy, NY	2.0	1.0	1500	$1,700	$1.13	23d	1	0.80mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$2,358	$1.30	14d	7	0.80mi
809 Broadway #2 Watervliet, NY	3.0	1.0	1100	$1,625	$1.48	43d	1	0.80mi
65 3rd St Troy, NY	2.0	2.0	1185	$2,995	$2.53	23d	1	0.82mi
323 2nd St #1 Troy, NY	2.0	1.0	1150	$1,950	$1.70	23d	1	0.84mi
53 3rd St Troy, NY	1.0	1.0	1000	$1,700	$1.70	19d	1	0.86mi
306 3rd St Troy, NY	3.0	1.0	1100	$1,700	$1.55	23d	1	0.87mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	14d	1	0.90mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	21d	1	0.90mi
334 4th St Troy, NY	2.0	1.0	1200	$1,550	$1.29	23d	1	0.92mi
104 4th St Unit 2 Troy, NY	3.0	1.0	950	$1,800	$1.89	14d	1	0.93mi
355 4th St Troy, NY	3.0	2.0	1203	$1,750	$1.45	23d	1	0.93mi
5 Alden St Unit b Watervliet, NY	2.0	1.0	1100	$1,299	$1.18	43d	1	0.94mi
5 Alden St Watervliet, NY	2.0	1.0	1000	$1,299	$1.30	19d	1	0.94mi
356 3rd St Unit 2 Troy, NY	3.0	1.0	1000	$1,950	$1.95	14d	1	0.94mi
124 Ferry St Troy, NY	1.0–3.0	1.0–2.0	814	$1,914	$2.35	14d	10	0.99mi
1611 6th Ave Troy, NY	1.0–2.0	1.0–2.0	976	$3,000	$3.07	14d	28	1.01mi
509 5th Ave Unit 9 Watervliet, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	1.01mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,100	$0.91	23d	8	1.02mi
114 Ida St Unit 1 Troy, NY	3.0	1.0	1100	$1,395	$1.27	23d	1	1.03mi
2001 5th Ave Troy, NY	2.0	1.0–2.0	865	$2,650	$3.06	14d	10	1.11mi
2002 Federal St Troy, NY	2.0	1.0–2.0	830	$3,450	$4.16	14d	51	1.14mi
189 Hill St Troy, NY	3.0	1.0	995	$1,900	$1.91	23d	1	1.14mi
23 Lake Shore Dr Watervliet, NY	1.0–3.0	1.0–2.0	911	$1,892	$2.08	14d	17	1.22mi
649 4th St Unit 2 Troy, NY	3.0	1.0	1200	$1,345	$1.12	23d	1	1.33mi
11 Spring Ave Troy, NY	3.0	2.0	1788	$2,500	$1.40	23d	1	1.38mi
51 14th St Unit 1 Troy, NY	2.0	1.0	1000	$850	$0.85	14d	1	1.39mi
79 14th St Unit 1 Troy, NY	3.0	1.0	1500	$650	$0.43	19d	1	1.40mi
238 8th St Troy, NY	3.0	2.0	1200	$2,200	$1.83	23d	1	1.41mi
19 Idlewild Park Unit 7 Watervliet, NY	2.0	1.0	950	$1,300	$1.37	43d	1	1.41mi

Listing history 6 events

1. 2026-06-18
   days on market $239,900 Active 7 DOM
2. 2026-06-17
   days on market $239,900 Active 6 DOM
3. 2026-06-16
   days on market $239,900 Active 5 DOM
4. 2026-06-15
   days on market $239,900 Active 4 DOM
5. 2026-06-14
   remarks 529-char remark
6. 2026-06-14
   listed $239,900 Active 2 DOM

ⓘ 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: $4,005 · $334/mo
• Projected year-2 tax: $4,030 · $336/mo
• Expected delta: +$25/yr (+$2/mo · 0.6%)

ⓘ 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 ≥96°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: $33,060
• − Mortgage interest: −$13,438
• − Property taxes: −$4,005
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,645
• − Management: −$2,645
• − Depreciation: −$6,979
• Taxable income: $2,149
• Est. tax owed @ 24.0%: −$516
• After-tax cash flow: $5,301/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: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, NY
• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 2%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

+417.6% since first listed

20 events — show timeline

• 2026-06-10 Listed $239,900 Global MLS
• 2023-09-25 Sold (Public Records) $192,500 Public Records
• 2020-03-19 Sold (Public Records) $107,500 Public Records
• 2020-03-05 Sold (MLS) $107,500 Global MLS
• 2020-01-28 Pending — Global MLS
• 2019-11-08 Price Changed $118,900 Global MLS
• 2019-10-15 Listed $121,900 Global MLS
• 2014-07-09 Sold (MLS) $71,500 Global MLS
• 2014-06-03 Sold (Public Records) $71,500 Public Records
• 2014-04-28 Listing Removed — Global MLS
• 2014-04-18 Listed $78,800 Global MLS
• 2010-06-02 Listing Removed — Global MLS
• 2010-04-23 Listed $119,900 Global MLS
• 2009-10-27 Listing Removed — Global MLS
• 2009-07-13 Listed $119,900 Global MLS
• 2004-11-04 Sold (Public Records) $66,516 Public Records
• 2004-10-27 Sold (MLS) $66,516 Global MLS
• 2004-09-19 Listing Removed — Global MLS
• 2004-07-07 Listed $69,900 Global MLS
• 1999-12-06 Sold (Public Records) $46,350 Public Records

Property tax history

+4.1%/yr

Latest (2025): $4,005 · +53.5% YoY. Source: county tax records.