167 Paine St · Green Island, NY 12183

$178,000

4 bd · 2.0 ba · 1,468 sqft · MultiFamily public records · 3 Days on market

Built 1920 1,742 sqft lot Est $129k · 38% over

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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
• Livability +3.9/5.0
• Appreciation +3.6/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Own it for less than you're paying in rent! If purchasing your 1st home a 2 family is the way to go. Excellent condition, great tenants, CHEAP Electricity as Green Island has their own power supply. New roof, new H2O tanks, low taxes, nice yard. Excellent Condition

Key facts

• Newer flooring
• Fresh paint
• Fenced-in backyard

Tags

• NEWER FLOORING
• FRESH PAINT
• FENCED-IN BACKYARD
• WASHER AND DRYER HOOKUPS
• WALKABLE NEIGHBORHOOD
• CLOSE TO CORNER STORE

Property features AI

Exterior

• Utilities: 150 amp electric service with circuit breakers; Public sewer; Public water
• Home design: Duplex; 2 total units
• Construction: Aluminum siding; Vinyl siding; Block foundation; Built using traditional construction materials
• Exterior features: Asphalt roof; Back yard with fencing; Fenced yard

Interior

• Kitchen: Each unit includes one kitchen
• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 3 bedrooms (all on 2nd floor)
• Flooring: Vinyl flooring; Laminate flooring
• Bathrooms: Two full bathrooms (one on 1st floor, one on 2nd floor)
• Heating & cooling: Electric heating available; Natural gas heating available
• Interior features: Paddle fan
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $178k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $934/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $178k).

Location & tenants

• Location reads 77/100 on livability (#186 in NY, #2,758 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D, schools F.
• Green Island Union Free School District (suburban): math 20% / reading 30% proficiency, ranked #740 of 755 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 8 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.7%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-2.7% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $104k; list at $178k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1920 — 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 $178,000

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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.57% ✓
• Cap rate: 21.99%
• Cash-on-cash: 56.07%
• DSCR: 3.49
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $129,184
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 Paine St	0.03mi	4/2.0	1,640 (+12%)	4mo	$145,000	$88	76
321 9th St	0.66mi	4/2.0	1,488 (+1%)	18mo	$144,000	$97	52
31 Bond St	0.56mi	5/2.0 (+1)	1,676 (+14%)	8mo	$140,000	$84	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.6%
• Equity multiple: 2.86×
• Total profit: $92,739
• Equity at exit: $28,873

10-year hold

• IRR: 48.4%
• Equity multiple: 5.76×
• Total profit: $237,435
• Equity at exit: $19,428

Cash invested: $49,840 (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 12183

• Home prices YoY: -1.5%
• Active inventory: 8
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $4,568 high
• Mortgage (P&I): −$933
• Tax from tax record: −$272 /mo · $3,266/yr
• Insurance: −$74
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$959
• Net cashflow: $1,869

Break-even live

Break-even rent $2,203

Max offer price $178,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,969	-5% $1,919	+0% $1,869	+5% $1,818	+10% $1,768
Rent	-10% $1,508	-5% $1,688	+0% $1,869	+5% $2,049	+10% $2,229
Rate	-1.0pp $1,958	-0.5pp $1,914	base $1,869	+0.5pp $1,822	+1.0pp $1,775

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,568
Total (2 units)			$4,568

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
143 President St Unit 2 Troy, NY	4.0	1.0	1200	$1,900	$1.58	15d	1	0.52mi
3132-3134 6th Ave Troy, NY	3.0	1.0	950	$1,350	$1.42	15d	1	0.60mi
362 9th St Unit 1st Floor Troy, NY	3.0	1.0	1156	$1,575	$1.36	24d	1	0.67mi
362 9th St Unit 1st Floor Troy, NY	3.0	1.0	1156	$1,575	$1.36	20d	1	0.67mi
195 9th St Troy, NY	3.0	2.0	1500	$750	$0.50	20d	1	0.76mi
164 9th St Unit 1 Troy, NY	4.0	2.0	1400	$1,800	$1.29	24d	1	0.82mi
238 8th St Troy, NY	3.0	2.0	1200	$2,200	$1.83	24d	1	0.84mi
169 Hutton St Unit 1 Troy, NY	3.0	1.0	1500	$595	$0.40	20d	1	0.85mi
136 9th St Unit 2 Troy, NY	3.0	1.0	1500	$600	$0.40	20d	1	0.87mi
136 9th St Unit 1 Troy, NY	3.0	1.0	1500	$595	$0.40	20d	1	0.87mi
136 9th St Unit 3 Troy, NY	4.0	1.0	1500	$595	$0.40	20d	1	0.87mi
196 10th St Troy, NY	3.0	1.0	1200	$695	$0.58	20d	1	0.92mi
2302 12th St Unit 1 Troy, NY	3.0	1.0	1200	$650	$0.54	20d	1	0.93mi
2302 12th St Unit 2 Troy, NY	3.0	1.0	1200	$595	$0.50	20d	1	0.93mi
904 Peoples Ave Troy, NY	4.0	1.0	1800	$645	$0.36	20d	1	0.97mi
131 6th Ave Troy, NY	4.0	1.0	1400	$2,325	$1.66	15d	1	0.98mi
140 5th Ave Unit 2 Troy, NY	3.0	1.0	1200	$1,395	$1.16	24d	1	0.99mi
157 6th Ave Unit 2 Troy, NY	3.0	1.0	1300	$1,350	$1.04	20d	1	1.04mi
2326 15th St Unit 1 Troy, NY	4.0	1.5	1500	$695	$0.46	20d	1	1.05mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$3,635	$2.01	15d	7	1.08mi
2209 15th St Troy, NY	3.0	1.0	950	$2,595	$2.73	24d	1	1.12mi
104 4th St Unit 2 Troy, NY	3.0	1.0	950	$1,800	$1.89	15d	1	1.14mi
151 4th St Troy, NY	4.0	1.0	1000	$1,400	$1.40	24d	1	1.26mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,349	$1.12	24d	8	1.29mi
288 Hoosick St Troy, NY	3.0	1.0	1800	$695	$0.39	20d	1	1.32mi
124 Ferry St Troy, NY	1.0–3.0	1.0–2.0	814	$2,799	$3.44	15d	10	1.34mi
338 Saratoga St Unit 2 Cohoes, NY	3.0	1.5	1200	$1,495	$1.25	44d	1	1.36mi
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	22d	1	1.36mi
1534 5th Ave #1 Watervliet, NY	3.0	1.0	1200	$1,595	$1.33	44d	1	1.44mi
97 14th St Unit 2 Troy, NY	5.0	2.0	1600	$625	$0.39	20d	1	1.48mi
97 14th St Troy, NY	4.0	2.0	1500	$650	$0.43	20d	1	1.48mi
1513 5th Ave Unit 2 Watervliet, NY	3.0	1.0	1200	$1,550	$1.29	15d	1	1.49mi
36 Farm St Troy, NY	4.0	2.0	1100	$695	$0.63	15d	1	1.50mi

Listing history 12 events

1. 2026-05-15
   status Pending
2. 2026-05-11
   listed $178,000 Active
3. 2009-07-30
   soldstatus $104,000
4. 2009-07-13
   soldstatus $104,000 268-char remark

   Show marketing remark (268 chars)

   Own it for less than you're paying in rent! If purchasing your 1st home a 2 family is the way to go. Excellent condition, great tenants, CHEAP Electricity as Green Island has their own power supply. New roof, new H2O tanks, low taxes, nice yard. Excellent Condition

5. 2009-05-08
   historical 268-char remark

   Show marketing remark (268 chars)

   Own it for less than you're paying in rent! If purchasing your 1st home a 2 family is the way to go. Excellent condition, great tenants, CHEAP Electricity as Green Island has their own power supply. New roof, new H2O tanks, low taxes, nice yard. Excellent Condition

6. 2008-10-09
   listed $114,000 268-char remark

   Show marketing remark (268 chars)

   Own it for less than you're paying in rent! If purchasing your 1st home a 2 family is the way to go. Excellent condition, great tenants, CHEAP Electricity as Green Island has their own power supply. New roof, new H2O tanks, low taxes, nice yard. Excellent Condition

7. 2008-10-08
   historical
8. 2008-04-04
   listed $99,999
9. 2006-09-18
   soldstatus $107,000
10. 2006-06-22
    soldstatus $80,000
11. 2003-10-22
    soldstatus $62,000
12. 2003-10-08
    soldstatus $40,000

ⓘ 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: $3,266 · $272/mo
• Projected year-2 tax: $3,266 · $272/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 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: $54,816
• − Mortgage interest: −$9,971
• − Property taxes: −$3,266
• − Insurance: −$6,415
• − Repairs & maintenance: −$4,385
• − Management: −$4,385
• − Depreciation: −$5,178
• Taxable income: $21,216
• Est. tax owed @ 24.0%: −$5,092
• After-tax cash flow: $17,331/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: Green Island Union Free School District
• NCES district ID: 3612660
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $51,151
• Composite: 25.19/100
• National rank: #12922
• State rank: #740 of 755 in NY

Livability — Green Island

• Score: 77/100
• State rank: #186
• US rank: #2758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Green Island, NY
• City population: 2,966
• Population (ZIP): 2,966

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 16% Black 9% Two or more races 8% Asian 1%
• Hispanic origin (detail): Puerto Rican 15%
• Common ancestry: Lithuanian 5% Romanian 3% Iranian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 1% Other Indo-European 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: ▼ -2.71%
• Current HPI: 177.2848
• 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

+345.0% since first listed

12 events — show timeline

• 2026-05-15 Pending — Global MLS
• 2026-05-11 Listed $178,000 Global MLS
• 2009-07-30 Sold (Public Records) $104,000 Public Records
• 2009-07-13 Sold (MLS) $104,000 Global MLS
• 2009-05-08 Listing Removed — Global MLS
• 2008-10-09 Listed $114,000 Global MLS
• 2008-10-08 Listing Removed — Global MLS
• 2008-04-04 Listed $99,999 Global MLS
• 2006-09-18 Sold (Public Records) $107,000 Public Records
• 2006-06-22 Sold (Public Records) $80,000 Public Records
• 2003-10-22 Sold (Public Records) $62,000 Public Records
• 2003-10-08 Sold (Public Records) $40,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $3,266 · -1.0% YoY. Source: county tax records.