297 2nd St · Troy, NY 12180

$99,900

7 bd · 2.0 ba · 2,500 sqft · MultiFamily public records · 3 Days on market

Built 1896 3,049 sqft lot ↓ 13% since listing

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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
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

2 Fam Brick Home in Excellent Condition & has been Family Owned & Occupied for over 35 years! Updates Incl Newer Windows, Roof, HW Tanks, Furnaces & Newly Updated Electrical Panels. Beautiful HardWood Flrs & Built In Cabinets. Full Attic & Basement. Excellent Condition

Key facts

• 3,049 sq ft lot
• 2 parking spots
• Built 1896

Property features AI

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Other roof type
• Construction: Constructed with block and other materials; Brick/mortar foundation
• Exterior features: Level lot; Main road frontage of 25 feet

Interior

• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 4 bedrooms
• Flooring: Wood
• Bathrooms: 2 full bathrooms total; One full bath on the 1st floor and one on the 2nd floor
• Interior features: Wood flooring; Full basement

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $100k).
• Cap rate 28.9% 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.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $3,535/mo this rent would consume 56% of the median local household income ($76k/yr) (locally 2698% 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 $691 of loan paydown is wiped out by about $3k 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 + 4.9% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; flood insurance adds $460/mo; built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.54% ✓
• Cap rate: 28.94%
• Cash-on-cash: 80.88%
• DSCR: 4.60
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $252,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 2nd St	0.01mi	7/2.0	2,500 (0%)	3mo	$239,900	$96	97
62 Ida St	0.11mi	8/2.0 (+1)	2,484 (-1%)	7mo	$125,000	$50	83
1266 5th Ave	0.38mi	6/2.0 (-1)	2,540 (+2%)	1mo	$240,000	$94	74
298 3rd St	0.12mi	8/3.0 (+1)	2,646 (+6%)	8mo	$317,000	$120	69
412 2nd St	0.31mi	6/2.0 (-1)	2,256 (-10%)	2mo	$240,000	$106	63
462 1st St	0.50mi	6/2.0 (-1)	2,376 (-5%)	9mo	$319,500	$134	55
96 Hanover St	0.32mi	6/3.0 (-1)	2,768 (+11%)	4mo	$160,000	$58	55
1250 5th Ave	0.36mi	7/2.0	2,870 (+15%)	13mo	$179,000	$62	48
508 2nd St	0.55mi	6/2.0 (-1)	2,244 (-10%)	11mo	$230,000	$102	43
204 13th St	0.54mi	6/3.0 (-1)	2,794 (+12%)	8mo	$289,900	$104	40
542 1st St	0.72mi	6/2.0 (-1)	2,300 (-8%)	13mo	$197,000	$86	37
1220 5th Ave	0.68mi	6/2.0 (-1)	2,184 (-13%)	9mo	$220,000	$101	35

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 62.9%
• Equity multiple: 3.93×
• Total profit: $81,840
• Equity at exit: $14,895

10-year hold

• IRR: 68.3%
• Equity multiple: 8.83×
• Total profit: $219,072
• Equity at exit: $8,638

Cash invested: $27,972 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,535 high
• Mortgage (P&I): −$524
• Tax from tax record: −$342 /mo · $4,103/yr
• Insurance: −$42
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $1,425

Break-even live

Break-even rent $1,731

Max offer price $99,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$3,534
Total (2 units)			$3,535

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-13
   status $99,900 Pending 3 DOM
2. 2026-06-10
   days on market $99,900 Active 3 DOM
3. 2026-06-09
   days on market $99,900 Active 2 DOM
4. 2026-06-08
   remarks 258-char remark
5. 2026-06-08
   listed $99,900 Active 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: $4,103 · $342/mo
• Projected year-2 tax: $4,103 · $342/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 AE · 99% 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 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: $42,420
• − Mortgage interest: −$5,596
• − Property taxes: −$4,103
• − Insurance: −$6,024
• − Repairs & maintenance: −$3,394
• − Management: −$3,394
• − Depreciation: −$2,906
• Taxable income: $17,003
• Est. tax owed @ 24.0%: −$4,081
• After-tax cash flow: $13,017/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 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
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

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 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

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: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

-13.1% since first listed

12 events — show timeline

• 2026-06-07 Listed $99,900 Global MLS
• 2023-12-13 Listing Removed — Global MLS
• 2023-12-12 Price Changed $219,000 Global MLS
• 2023-12-05 Price Changed $237,500 Global MLS
• 2023-11-30 Price Changed $248,900 Global MLS
• 2023-11-24 Listed $254,800 Global MLS
• 2010-09-21 Sold (Public Records) $111,976 Public Records
• 2010-09-17 Sold (MLS) $116,200 Global MLS
• 2010-07-25 Listing Removed — Global MLS
• 2010-07-21 Listed $110,000 Global MLS
• 2010-07-14 Listing Removed — Global MLS
• 2010-03-22 Listed $115,000 Global MLS

Property tax history

+15.8%/yr

Latest (2025): $4,103 · -46.8% YoY. Source: county tax records.