531 Hattie St · Schenectady, NY 12308

$262,700

6 bd · 3.0 ba · 1,920 sqft · MultiFamily public records · 43 Days on market

Built 1930 4,356 sqft lot Est $213k · 23% over

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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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

2 FAMILY-1920 SQ FT- CORP OWNED- SOLD AS IS- UP AND DOWN STYLE- FULL BASEMENT. LOCATED CLOSE TO UNION COLLEGE. MUST BE PREQUALIFIED OR SHOW PROOF OF FUNDS TO PURCHASE. Poor Condition

Key facts

• Off street parking
• 4,356 sq ft lot
• 4 parking spots

Tags

• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.8-bath units multifamily listed at $263k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive. Per door: $279/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $263k).
• Recommended offer: $255k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: 78 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,147/mo this rent would consume 60% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 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 $37k; list at $263k implies a 610% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $254,819 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.20% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $213,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1540 Foster Ave	0.06mi	6/2.0	2,024 (+5%)	7mo	$214,650	$106	78
1643 Van Vranken Ave	0.18mi	6/3.0	2,040 (+6%)	12mo	$210,000	$103	71
1720 Foster Ave	0.26mi	5/2.0 (-1)	1,888 (-2%)	12mo	$190,000	$101	66
1588 Foster Ave	0.07mi	6/2.0	2,200 (+15%)	6mo	$315,000	$143	64
1695 Foster Ave	0.23mi	6/2.0	2,208 (+15%)	6mo	$244,000	$111	55
515 South Ave	0.53mi	5/3.0 (-1)	2,070 (+8%)	6mo	$172,000	$83	53
215 Front St	0.65mi	6/2.0	1,914 (-0%)	18mo	$165,000	$86	51
1691 Foster Ave	0.23mi	7/2.0 (+1)	2,112 (+10%)	16mo	$258,000	$122	50
117 Prospect St	0.69mi	6/2.0	2,058 (+7%)	13mo	$272,500	$132	41
762 Eastern Ave	0.60mi	6/2.0	2,205 (+15%)	3mo	$269,900	$122	41
1109 Raymond St	0.67mi	6/2.0	1,708 (-11%)	11mo	$300,000	$176	37
12 Paulding St	0.74mi	5/2.0 (-1)	2,112 (+10%)	11mo	$190,000	$90	31

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-6,960
• Equity at exit: $39,169

10-year hold

• IRR: 7.2%
• Equity multiple: 1.55×
• Total profit: $40,116
• Equity at exit: $22,713

Cash invested: $73,556 (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: 13.9×

Monthly cashflow live

• Estimated rent: $3,147 high
• Mortgage (P&I): −$1,378
• Tax from tax record: −$442 /mo · $5,302/yr
• Insurance: −$109
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $557

Break-even live

Break-even rent $2,442

Max offer price $262,700

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.8	$3,148
Total (2 units)			$3,147

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: $65,675
• Closing costs: $7,881
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $262,700 Active 43 DOM
2. 2026-06-17
   status $262,700 Active 42 DOM
3. 2026-03-06
   status Pending
4. 2026-01-23
   listed $262,700 Active
5. 2007-03-07
   soldstatus $37,000
6. 2007-01-29
   soldstatus $37,000 182-char remark

   Show marketing remark (182 chars)

   2 FAMILY-1920 SQ FT- CORP OWNED- SOLD AS IS- UP AND DOWN STYLE- FULL BASEMENT. LOCATED CLOSE TO UNION COLLEGE. MUST BE PREQUALIFIED OR SHOW PROOF OF FUNDS TO PURCHASE. Poor Condition

7. 2007-01-12
   historical 182-char remark

   Show marketing remark (182 chars)

   2 FAMILY-1920 SQ FT- CORP OWNED- SOLD AS IS- UP AND DOWN STYLE- FULL BASEMENT. LOCATED CLOSE TO UNION COLLEGE. MUST BE PREQUALIFIED OR SHOW PROOF OF FUNDS TO PURCHASE. Poor Condition

8. 2006-11-02
   listed $41,900 182-char remark

   Show marketing remark (182 chars)

   2 FAMILY-1920 SQ FT- CORP OWNED- SOLD AS IS- UP AND DOWN STYLE- FULL BASEMENT. LOCATED CLOSE TO UNION COLLEGE. MUST BE PREQUALIFIED OR SHOW PROOF OF FUNDS TO PURCHASE. Poor Condition

9. 2005-08-01
   soldstatus $45,000

ⓘ 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: $5,302 · $442/mo
• Projected year-2 tax: $5,302 · $442/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 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: $37,764
• − Mortgage interest: −$14,715
• − Property taxes: −$5,302
• − Insurance: −$1,314
• − Repairs & maintenance: −$3,021
• − Management: −$3,021
• − Depreciation: −$7,642
• Taxable income: $2,749
• Est. tax owed @ 24.0%: −$660
• After-tax cash flow: $6,027/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

+483.8% since first listed

7 events — show timeline

• 2026-03-06 Pending — Global MLS
• 2026-01-23 Listed $262,700 Global MLS
• 2007-03-07 Sold (Public Records) $37,000 Public Records
• 2007-01-29 Sold (MLS) $37,000 Global MLS
• 2007-01-12 Listing Removed — Global MLS
• 2006-11-02 Listed $41,900 Global MLS
• 2005-08-01 Sold (Public Records) $45,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $5,302 · +3.6% YoY. Source: county tax records.