216 Front St · Schenectady, NY 12305

$60,000

2 bd · 1.0 ba · 1,200 sqft · Townhouse public records · 1 Days on market

Built 1850 2,178 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Bring your vision to life! This fully gutted home is a blank canvas with a newer roof already completed. Formerly a 2-bedroom, 1.5-bath layout, it offers great potential. Convenient location near bus routes and just minutes from the highway makes commuting a breeze. CASH BUYERS ONLY, ASSIGNMENT OF CONTRACT.

Key facts

• 2,178 sq ft lot
• Built 1850

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $60k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 20.7% 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: 20 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• This rent runs 32% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($415 loan paydown + $2k appreciation (3.2% 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 (3.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.40% ✓
• Cap rate: 20.71%
• Cash-on-cash: 51.49%
• DSCR: 3.29
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.0%
• Equity multiple: 3.99×
• Total profit: $50,302
• Equity at exit: $27,660

10-year hold

• IRR: 52.5%
• Equity multiple: 8.08×
• Total profit: $118,979
• Equity at exit: $43,165

Cash invested: $16,800 (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 12305

• Home prices YoY: 1.2%
• Active inventory: 20
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $665

Break-even live

Break-even rent $595

Max offer price $60,000

Occupancy floor 49%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 N College St #2 Schenectady, NY	1.0	1.0	780	$1,325	$1.70	14d	1	0.08mi
304 Front St Fl Left Schenectady, NY	1.0	1.0	750	$1,550	$2.07	14d	1	0.11mi
23 Monroe St Unit 23 2R Schenectady, NY	2.0	1.0	800	$1,325	$1.66	14d	1	0.11mi
225 State St Schenectady, NY	1.0	1.0	850	$1,325	$1.56	14d	4	0.41mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	19d	1	0.45mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	14d	1	0.49mi
192 Erie Blvd Schenectady, NY	1.0	1.0	895	$1,595	$1.78	21d	1	0.49mi
192 Erie Blvd Apt 401 Schenectady, NY	1.0	1.0	819	$1,595	$1.95	43d	1	0.50mi
192 Erie Blvd Apt 607 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	43d	1	0.50mi
192 Erie Blvd Apt 706 Schenectady, NY	1.0	1.0	889	$1,600	$1.80	23d	1	0.50mi
192 Erie Blvd Apt 502 Schenectady, NY	1.0	1.0	915	$1,495	$1.63	14d	1	0.50mi
192 Erie Blvd Unit 508 Schenectady, NY	1.0	1.0	932	$1,715	$1.84	43d	1	0.50mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$867	$0.84	14d	9	0.58mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	23d	1	0.73mi
1633 Carrie St Schenectady, NY	2.0	1.0	1200	$1,500	$1.25	43d	1	0.76mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	23d	1	0.77mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	0.85mi
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	43d	1	0.86mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	23d	1	0.89mi
1093 Park Ave Schenectady, NY	1.0	1.0	900	$1,200	$1.33	14d	1	0.91mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,040	$1.84	14d	1	0.97mi
1755 Avenue B Unit B Schenectady, NY	3.0	1.0	1200	$1,700	$1.42	14d	1	1.06mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	23d	1	1.09mi
922 State St Schenectady, NY	1.0–2.0	1.0	855	$1,390	$1.63	14d	6	1.13mi
2042 Van Vranken Ave Schenectady, NY	2.0	1.0	816	$1,200	$1.47	43d	1	1.22mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,500	$1.63	19d	1	1.23mi
54 Freemans Bridge Rd Schenectady, NY	2.0	1.0	1500	$2,000	$1.33	43d	1	1.27mi
222 S Ten Broeck St Scotia, NY	2.0	1.0	857	$1,600	$1.87	43d	1	1.35mi
13 Bancker Ave Unit 2 Scotia, NY	1.0	1.0	700	$1,600	$2.29	23d	1	1.47mi
830 Plymouth Ave Schenectady, NY	2.0	1.0	1200	$1,700	$1.42	19d	1	1.49mi

Listing history 2 events

1. 2026-04-18
   status Pending
2. 2026-04-17
   listed $60,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 88% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $17,249
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$966
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$1,745
• Taxable income: $7,516
• Est. tax owed @ 24.0%: −$1,804
• After-tax cash flow: $6,181/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): 7,356
• Household income: $53,326
• Rent vs Own: 85.4% rent · 14.6% own
• Severe rent burden: 962.0

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 0.60)
• Race & ethnicity: White 59% Black 20% Two or more races 14% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Serbian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Russian/Polish/Slavic 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: ▲ 3.20%
• Current HPI: 276.7183
• 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

2 events — show timeline

• 2026-04-18 Pending — Global MLS
• 2026-04-17 Listed $60,000 Global MLS

Property tax history

+1.2%/yr

Latest (2025): $3,500 · +4.7% YoY. Source: county tax records.