28 Fullerton Ave · Niskayuna, NY 12304

$239,900

3 bd · 1.5 ba · 2,212 sqft · SingleFamily public records · 155 Days on market

Built 1930 9,147 sqft lot $108/sqft · 42% below area Est $414k · 42% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Schools +5.3/10.0
• Livability +4.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

Key facts

• Ample outdoor space
• Separate utilities
• In-ground pool

Tags

• IN-LAW OR GUEST POTENTIAL
• SEPARATE UTILITIES
• IN-GROUND POOL
• FLEXIBLE LAYOUT
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (18.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (17.1% below list).
• Recommended offer: $196k (18.2% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 2.6% in Niskayuna — 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 91/100 on livability (#3 in NY, #51 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• South Colonie Central School District (suburban): math 63% / reading 57% proficiency, ranked #215 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Veeder Elementary School (math 67% / reading 62%, grade B, #591 of 2,108 statewide, top 31%, 436 students, 32% FRL); Lisha Kill Middle School (math 44% / reading 55%, grade C, #280 of 729 statewide, top 40%, 628 students, 33% FRL); Colonie Central High School (math 96% / reading 72%, grade A, #404 of 1,100 statewide, top 37%, 1,538 students, 39% FRL) — zoned schools average 35% FRL vs 19% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 107 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

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.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $199k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $196,154 (18.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.42%
• DSCR: 0.80
• GRM: 10.1

CMA / ARV

• ARV (median comp): $414,190
• List price: $239,900
• Delta: -42.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3944 Becker St	0.13mi	3/2.5	1,967 (-11%)	5mo	$385,000	$196	67
44 N Alandale Ave	0.18mi	3/2.0	2,100 (-5%)	18mo	$330,000	$157	66
100 Lansing Road South	0.43mi	4/2.0 (+1)	2,339 (+6%)	2mo	$350,000	$150	62
53 Shepard Ave	0.11mi	4/1.5 (+1)	1,989 (-10%)	15mo	$300,000	$151	60
256 N Alandale Ave	0.41mi	4/3.0 (+1)	2,422 (+10%)	2mo	$600,000	$248	52
113 Fieldstone Dr	0.71mi	3/2.5	2,149 (-3%)	10mo	$530,000	$247	50
401 Stanford Ave	0.69mi	3/2.0	2,000 (-10%)	3mo	$247,000	$124	48
4110 Consaul Rd	0.69mi	4/2.5 (+1)	2,450 (+11%)	2mo	$385,000	$157	39
3712 Consaul Rd	0.74mi	4/2.0 (+1)	2,034 (-8%)	9mo	$302,000	$148	37
26 Laura Ln	0.56mi	3/2.5	1,972 (-11%)	18mo	$500,000	$254	37
4323 Buckingham Dr	0.74mi	4/1.5 (+1)	1,988 (-10%)	8mo	$450,000	$226	37
19 Runnel Dr	0.68mi	4/2.5 (+1)	2,417 (+9%)	8mo	$545,000	$225	37

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: -23.7%
• Equity multiple: 0.19×
• Total profit: $-54,517
• Equity at exit: $35,770

10-year hold

• IRR: -18.5%
• Equity multiple: -0.00×
• Total profit: $-67,259
• 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 12304

• Home prices YoY: -25.5%
• Active inventory: 107
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$461 /mo · $5,528/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-248

Break-even live

Break-even rent $2,302

Max offer price $196,154

Occupancy floor —

Sensitivity live

Price	-10% $-112	-5% $-180	+0% $-248	+5% $-316	+10% $-383
Rent	-10% $-405	-5% $-326	+0% $-248	+5% $-169	+10% $-91
Rate	-1.0pp $-127	-0.5pp $-187	base $-248	+0.5pp $-310	+1.0pp $-373

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Arrow St Schenectady, NY	2.0	1.0	1400	$2,000	$1.43	16d	1	0.27mi
2012 State St Schenectady, NY	3.0	2.0	1585	$1,950	$1.23	16d	1	1.04mi

Listing history 8 events

1. 2026-05-20
   status Pending 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

2. 2026-05-13
   price $239,900 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

3. 2026-04-10
   status Active 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

4. 2026-03-18
   status Pending 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

5. 2026-03-05
   price $249,900 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

6. 2026-02-03
   price $254,900 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

7. 2025-11-21
   listed $269,900 Active 416-char remark

   Show marketing remark (416 chars)

   Spacious 3 bedroom 2.5 bath home with 2212 square feet of living space, featuring an oversized detached garage with excellent in-law or guest potential and separate utilities, set in a nice and convenient neighborhood close to shopping and eateries within the South Colonie School District. Home needs some TLC but offers tons of potential, highlighted by an in-ground pool, flexible layout, and ample outdoor space.

8. 2025-02-13
   soldstatus $199,000

ⓘ 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: $5,528 · $461/mo
• Projected year-2 tax: $5,528 · $461/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 3/10 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: $23,864
• − Mortgage interest: −$13,438
• − Property taxes: −$5,528
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$6,979
• Taxable loss: −$7,099
• Est. tax savings @ 24.0%: +$1,704
• After-tax cash flow: $-1,268/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: South Colonie Central School District
• NCES district ID: 3627210
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $69,499
• Composite: 52.97/100
• National rank: #1527
• State rank: #215 of 590 in NY

Livability — Niskayuna

• Score: 91/100
• State rank: #3
• US rank: #51

Category grades

Amenities B- Commute A+ Cost of living F Crime C+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 32,996
• Population (ZIP): 22,027

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.18%
• Current HPI: 331.0288
• Rent YoY: —
• Metro: —
• 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

+20.6% since first listed

8 events — show timeline

• 2026-05-20 Pending — Global MLS
• 2026-05-13 Price Changed $239,900 Global MLS
• 2026-04-10 Relisted — Global MLS
• 2026-03-18 Pending — Global MLS
• 2026-03-05 Price Changed $249,900 Global MLS
• 2026-02-03 Price Changed $254,900 Global MLS
• 2025-11-21 Listed $269,900 Global MLS
• 2025-02-13 Sold (Public Records) $199,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $5,528 · -1.4% YoY. Source: county tax records.