1026 2nd Ave · Schenectady, NY 12303

$299,999

6 bd · 2.0 ba · 2,574 sqft · MultiFamily public records · 23 Days on market

Built 1900 Est $234k · 28% 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +7.4/10.0
• 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

Are you looking for an investment property? This is a spacious duplex with a front porch downstairs, a balcony upstairs, and a full walk up attic. Tenants are in place and have been for many years. Family occupied up and down. Consistent rental income of $1950/month. If you are ready to purchase your first investment property or to add to your portfolio, this property is a great start!

Key facts

• New stucco
• New furnace
• New siding

Tags

• DEEP LOT
• FULLY UPDATED
• NEW WINDOWS
• NEW SIDING
• NEW STUCCO
• NEW FURNACE

Property features AI

Exterior

• Home design: Historic home (built 1900); Located in Mount Pleasant neighborhood
• Construction: 2574 living area
• Exterior features: Located on a property built in 1900

Interior

• Interior features: Located in the Mount Pleasant subdivision

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive. Per door: $387/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: schools C-, 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.
• Market conditions: 161 active listings in the ZIP; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,731/mo this rent would consume 53% of the median local household income ($84k/yr) (locally 1318% 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 $9k 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 $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y 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 $185k; list at $300k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $295,499 (1.5% below list)

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 1900 — 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. 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: 1.24% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $234,234
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Mumford St	0.42mi	6/2.0	2,544 (-1%)	2mo	$15,000	$6	77
421 Summit Ave	0.49mi	6/2.0	2,600 (+1%)	2mo	$308,000	$118	74
1013 Delamont Ave	0.68mi	6/2.0	2,576 (+0%)	1mo	$111,500	$43	67
1005 Congress St	0.36mi	7/3.0 (+1)	2,690 (+4%)	5mo	$85,000	$32	63
222 Duane Ave	0.64mi	6/2.0	2,700 (+5%)	1mo	$329,900	$122	62
1317 Lower Broadway	0.29mi	7/2.0 (+1)	2,955 (+15%)	5mo	$270,000	$91	52
820 Strong St	0.39mi	6/4.0	2,880 (+12%)	3mo	$41,000	$14	51
316 Georgetta Dix Plz	0.71mi	6/4.0	2,664 (+4%)	4mo	$262,500	$99	50
1933 Wabash Ave	0.74mi	6/2.0	2,320 (-10%)	2mo	$275,000	$119	47
1235 Crane St	0.58mi	6/2.0	2,236 (-13%)	6mo	$238,500	$107	46
318 Georgetta Dix Plz	0.71mi	7/4.0 (+1)	2,806 (+9%)	4mo	$200,000	$71	35
314 Georgetta Dix Plz	0.72mi	6/4.0	2,886 (+12%)	4mo	$262,500	$91	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $858
• Equity at exit: $44,731

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $64,775
• Equity at exit: $25,938

Cash invested: $84,000 (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 12303

• Active inventory: 161
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,731 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$474 /mo · $5,692/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$784
• Net cashflow: $775

Break-even live

Break-even rent $2,750

Max offer price $299,999

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$3,730
Total (2 units)			$3,731

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $299,999 Active 23 DOM
2. 2026-06-17
   days on market $299,999 Active 22 DOM
3. 2026-06-16
   days on market $299,999 Active 21 DOM
4. 2026-06-15
   days on market $299,999 Active 20 DOM
5. 2026-06-14
   days on market $299,999 Active 18 DOM
6. 2026-06-13
   days on market $299,999 Active 17 DOM
7. 2026-06-10
   days on market $299,999 Active 15 DOM
8. 2026-06-09
   days on market $299,999 Active 14 DOM
9. 2026-06-08
   days on market $299,999 Active 13 DOM
10. 2026-06-07
    days on market $299,999 Active 12 DOM
11. 2026-06-03
    days on market $299,999 Active 8 DOM
12. 2026-06-02
    days on market $299,999 Active 7 DOM
13. 2026-06-01
    days on market $299,999 Active 6 DOM
14. 2026-05-31
    days on market $299,999 Active 5 DOM
15. 2026-05-31
    days on market $299,999 Active 4 DOM
16. 2026-05-26
    listed $299,999 Active
17. 2025-03-13
    soldstatus $185,000
18. 2025-02-14
    soldstatus $185,000 Closed 391-char remark

    Show marketing remark (391 chars)

    Are you looking for an investment property? This is a spacious duplex with a front porch downstairs, a balcony upstairs, and a full walk up attic. Tenants are in place and have been for many years. Family occupied up and down. Consistent rental income of $1950/month. If you are ready to purchase your first investment property or to add to your portfolio, this property is a great start!

19. 2024-12-17
    status Pending 391-char remark

    Show marketing remark (391 chars)

    Are you looking for an investment property? This is a spacious duplex with a front porch downstairs, a balcony upstairs, and a full walk up attic. Tenants are in place and have been for many years. Family occupied up and down. Consistent rental income of $1950/month. If you are ready to purchase your first investment property or to add to your portfolio, this property is a great start!

20. 2024-12-04
    listed $185,000 Active 391-char remark

    Show marketing remark (391 chars)

    Are you looking for an investment property? This is a spacious duplex with a front porch downstairs, a balcony upstairs, and a full walk up attic. Tenants are in place and have been for many years. Family occupied up and down. Consistent rental income of $1950/month. If you are ready to purchase your first investment property or to add to your portfolio, this property is a great start!

21. 2018-07-24
    soldstatus $83,000
22. 2018-07-11
    soldstatus $83,000 Closed (Final Sale) 335-char remark

    Show marketing remark (335 chars)

    Looking for an investment property? Check out this large 2 Family on a deep lot. Fully updated in 2006 with new windows, siding, stucco, furnace, plumbing and electrical. Upstairs unit includes a large walk-in closet. Unit 1 has a large front porch and unit 2 a balcony. Separate utilities and off street parking -- Very Good Condition

23. 2018-04-25
    status Pend (Under Cntr) 335-char remark

    Show marketing remark (335 chars)

    Looking for an investment property? Check out this large 2 Family on a deep lot. Fully updated in 2006 with new windows, siding, stucco, furnace, plumbing and electrical. Upstairs unit includes a large walk-in closet. Unit 1 has a large front porch and unit 2 a balcony. Separate utilities and off street parking -- Very Good Condition

24. 2018-04-03
    listed $90,000 New 335-char remark

    Show marketing remark (335 chars)

    Looking for an investment property? Check out this large 2 Family on a deep lot. Fully updated in 2006 with new windows, siding, stucco, furnace, plumbing and electrical. Upstairs unit includes a large walk-in closet. Unit 1 has a large front porch and unit 2 a balcony. Separate utilities and off street parking -- Very Good Condition

25. 2017-10-14
    historical
26. 2017-06-23
    price $90,000
27. 2017-06-03
    price $95,000
28. 2017-05-26
    status Back On Market
29. 2017-05-21
    historical
30. 2017-05-05
    listed $99,900 New
31. 2016-03-17
    historical
32. 2015-09-21
    listed $99,900 Active
33. 2015-02-27
    soldstatus $500
34. 2014-10-20
    soldstatus $500
35. 2010-04-21
    historical
36. 2009-10-30
    listed $124,900
37. 2008-10-02
    soldstatus $130,900
38. 2008-09-19
    soldstatus $130,000
39. 2008-08-31
    listed $139,900
40. 2008-08-31
    historical
41. 2008-08-29
    historical
42. 2008-02-29
    listed $139,900
43. 2006-09-25
    soldstatus $34,000
44. 2006-09-19
    soldstatus $34,000
45. 2006-08-25
    historical
46. 2006-07-07
    listed $47,900
47. 2005-01-27
    soldstatus $35,000
48. 2005-01-07
    historical
49. 2004-09-03
    listed $34,900
50. 2001-10-15
    soldstatus $17,000

ⓘ 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: $5,692 · $474/mo
• Projected year-2 tax: $5,692 · $474/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: $44,772
• − Mortgage interest: −$16,805
• − Property taxes: −$5,692
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,582
• − Management: −$3,582
• − Depreciation: −$8,727
• Taxable income: $4,884
• Est. tax owed @ 24.0%: −$1,172
• After-tax cash flow: $8,127/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): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

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 (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -151.01%
• Current HPI: 280.3886
• 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

+1100.0% since first listed

42 events — show timeline

• 2026-05-26 Listed $299,999 FSBO.com
• 2025-03-13 Sold (Public Records) $185,000 Public Records
• 2025-02-14 Sold (MLS) $185,000 Global MLS
• 2024-12-17 Pending — Global MLS
• 2024-12-04 Listed $185,000 Global MLS
• 2018-07-24 Sold (Public Records) $83,000 Public Records
• 2018-07-11 Sold (MLS) $83,000 Global MLS
• 2018-04-25 Pending — Global MLS
• 2018-04-03 Listed $90,000 Global MLS
• 2017-10-14 Listing Removed — Global MLS
• 2017-06-23 Price Changed $90,000 Global MLS
• 2017-06-03 Price Changed $95,000 Global MLS
• 2017-05-26 Relisted — Global MLS
• 2017-05-21 Listing Removed — Global MLS
• 2017-05-05 Listed $99,900 Global MLS
• 2016-03-17 Listing Removed — Global MLS
• 2015-09-21 Listed $99,900 Global MLS
• 2015-02-27 Sold (Public Records) $500 Public Records
• 2014-10-20 Sold (Public Records) $500 Public Records
• 2010-04-21 Listing Removed — Global MLS
• 2009-10-30 Listed $124,900 Global MLS
• 2008-10-02 Sold (Public Records) $130,900 Public Records
• 2008-09-19 Sold (MLS) $130,000 Global MLS
• 2008-08-31 Listing Removed — Global MLS
• 2008-08-31 Listed $139,900 Global MLS
• 2008-08-29 Listing Removed — Global MLS
• 2008-02-29 Listed $139,900 Global MLS
• 2006-09-25 Sold (Public Records) $34,000 Public Records
• 2006-09-19 Sold (MLS) $34,000 Global MLS
• 2006-08-25 Listing Removed — Global MLS
• 2006-07-07 Listed $47,900 Global MLS
• 2005-01-27 Sold (MLS) $35,000 Global MLS
• 2005-01-07 Listing Removed — Global MLS
• 2004-09-03 Listed $34,900 Global MLS
• 2001-10-15 Sold (MLS) $17,000 Global MLS
• 2001-10-04 Sold (Public Records) $75,000 Public Records
• 2001-10-04 Sold (Public Records) $17,000 Public Records
• 2001-06-22 Listing Removed — Global MLS
• 2001-03-19 Listed $29,900 Global MLS
• 2001-01-31 Sold (Public Records) $64,912 Public Records
• 1997-08-08 Sold (Public Records) $46,700 Public Records
• 1997-08-08 Sold (Public Records) $25,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $5,692 · +4.5% YoY. Source: county tax records.