828 Harrison Ave · Schenectady, NY 12306

$239,900

4 bd · 2.0 ba · 2,486 sqft · MultiFamily public records · 1 Days on market

Built 1926 6,098 sqft lot Est $268k · 11% under

---

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
• ARV discount +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great owner occupied home. All good size rooms plus a great screened in porch for your summer enjoyment with access to a nice size backyard with a storage shed. Lower unit is currently rented by a family member. There is only one heating system but there is separate electric. The boiler/furnace & the 100 amp CB wiring have been updated. The taxes quoted are without exemptions. Very Good Condition

Key facts

• Thoughtful updates
• Two-family home
• Fenced-in backyard

Tags

• TWO-FAMILY HOME
• THOUGHTFUL UPDATES
• OFF-STREET PARKING
• FENCED-IN BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; 2,486 total living area; 0.14-acre lot
• Construction: Combination foundation; Shingle/asphalt roof; Other construction materials; Built as a multi-family duplex
• Exterior features: Rear enclosed porch; Patio; Back yard fencing; Private, level, landscaped and cleared lot

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Flooring: Vinyl; Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms total; Full bath on 1st level; Full bath on 2nd level; Each unit has 1 full bath
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating
• Interior features: Vinyl, ceramic tile and hardwood flooring; Basement (other type)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $548/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Cap rate 11.8% 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: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,869/mo this rent would consume 56% of the median local household income ($83k/yr) (locally 629% 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.
• 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 $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $122k; list at $240k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1926 — 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 1926 — 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: 1.61% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.59%
• DSCR: 1.87
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $268,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2329-2331 Broadway	0.18mi	4/2.0	2,376 (-4%)	14mo	$240,000	$101	72
2220-2222 Campbell Ave	0.46mi	4/2.0	2,620 (+5%)	3mo	$260,000	$99	67
1017 Hegeman St	0.32mi	5/2.0 (+1)	2,568 (+3%)	13mo	$322,000	$125	64
520 Harrison Ave	0.11mi	5/2.0 (+1)	2,248 (-10%)	18mo	$125,000	$56	59
1918 Euclid Ave	0.46mi	5/2.0 (+1)	2,412 (-3%)	13mo	$213,000	$88	58
2057 Guilderland Ave	0.31mi	4/5.0	2,394 (-4%)	13mo	$106,000	$44	57
425 Cora St	0.37mi	4/3.0	2,288 (-8%)	11mo	$292,000	$128	56
2119 Broadway	0.32mi	4/3.0	2,183 (-12%)	5mo	$167,500	$77	56
1917 Osterlitz Ave	0.46mi	4/3.0	2,380 (-4%)	15mo	$259,777	$109	55
2729 Van Dyke Ave	0.49mi	4/2.0	2,319 (-7%)	18mo	$270,000	$116	51
450 Arthur St	0.34mi	5/2.0 (+1)	2,131 (-14%)	22mo	$230,000	$108	37
618 Curry Rd	0.56mi	5/3.0 (+1)	2,210 (-11%)	22mo	$330,000	$149	27

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: 11.7%
• Equity multiple: 1.46×
• Total profit: $31,227
• Equity at exit: $35,770

10-year hold

• IRR: 20.7%
• Equity multiple: 2.76×
• Total profit: $118,136
• 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 12306

• Home prices YoY: -23.8%
• Active inventory: 181
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,869 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$602 /mo · $7,220/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$812
• Net cashflow: $1,097

Break-even live

Break-even rent $2,481

Max offer price $239,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,868
Total (2 units)			$3,869

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1346 10th Ave Schenectady, NY	4.0	2.0	2350	$2,499	$1.06	14d	1	1.01mi

Listing history 2 events

1. 2026-06-03
   remarks 468-char remark
2. 2026-06-03
   listed $239,900 Pending 1 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: $7,220 · $602/mo
• Projected year-2 tax: $7,220 · $602/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $46,428
• − Mortgage interest: −$13,438
• − Property taxes: −$7,220
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,714
• − Management: −$3,714
• − Depreciation: −$6,979
• Taxable income: $10,163
• Est. tax owed @ 24.0%: −$2,439
• After-tax cash flow: $10,723/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): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 629.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -91.35%
• Current HPI: 292.1229
• 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

+77.8% since first listed

10 events — show timeline

• 2026-06-03 Pending — Global MLS
• 2026-06-02 Listed $239,900 Global MLS
• 2019-11-20 Sold (Public Records) $122,000 Public Records
• 2019-08-01 Sold (MLS) $122,000 Global MLS
• 2019-06-03 Pending — Global MLS
• 2019-06-01 Listed $109,900 Global MLS
• 2007-04-10 Sold (Public Records) $133,500 Public Records
• 2007-04-09 Sold (MLS) $133,500 Global MLS
• 2007-02-12 Listing Removed — Global MLS
• 2007-01-23 Listed $134,900 Global MLS

Property tax history

+0.5%/yr

Latest (2025): $7,220 · +2.9% YoY. Source: county tax records.