807 Craig St · Schenectady, NY 12307

$324,900

6 bd · 2.0 ba · 2,220 sqft · MultiFamily public records · 20 Days on market

Built 1910 3,049 sqft lot Est $260k · 25% over

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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).

• Cash flow +16.5/30.0
• Appreciation +10.0/10.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• 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

Multi-family units

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

Listing remarks MLS

Excellent Opportunity to own a nice 2 Family House in the thriving City of Schenectady. Great Investment or Owner Occupied. Lots of updates throughout. Close to State Street, Downtown, Shopping, Restaurants, Schools, Bus Line and more. This one won't last long.

Key facts

• Off street parking
• 3,049 sq ft lot
• 2 parking spots

Tags

• OFF STREET PARKING
• MINUTES AWAY FROM PARKS
• MINUTES AWAY FROM SHOPPING

Property features AI

Exterior

• Parking: Total 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area approximately 2,220; Lot about 0.07 acre
• Construction: Vinyl siding
• Exterior features: Slate roof

Interior

• Bedrooms: Two units each with 3 bedrooms
• Bathrooms: Two full bathrooms total (one full bath on the 1st level and one full bath on the 2nd level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive. Per door: $95/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (5.4% below list).
• Recommended offer: $307k (5.4% below list) — sets the bar for 1% rule.

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: 33 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $155k; list at $325k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $307,200 (5.4% 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 1910 — 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. 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?
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: 0.95% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $259,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Hawk St	0.47mi	6/2.0	2,294 (+3%)	1mo	$325,000	$142	72
21 Hawk St	0.53mi	6/2.0	2,294 (+3%)	0mo	$334,750	$146	70
1235 Crane St	0.60mi	6/2.0	2,236 (+1%)	6mo	$238,500	$107	66
634 Hamilton St	0.41mi	5/2.0 (-1)	2,024 (-9%)	0mo	$210,000	$104	61
1038 Bridge St	0.27mi	6/2.0	2,460 (+11%)	10mo	$175,000	$71	60
5 Barney St	0.59mi	6/2.0	2,280 (+3%)	9mo	$250,000	$110	60
1 Chestnut St	0.46mi	6/3.0	2,406 (+8%)	2mo	$290,000	$121	59
913-915 Bridge St	0.38mi	5/2.0 (-1)	2,056 (-7%)	10mo	$315,000	$153	57
510 Mumford St	0.42mi	6/2.0	2,544 (+15%)	2mo	$15,000	$6	55
1114 9th Ave	0.67mi	6/3.0	2,112 (-5%)	3mo	$247,500	$117	54
1228 Crane St	0.60mi	5/3.0 (-1)	2,154 (-3%)	5mo	$260,000	$121	54
1220 Crane St	0.60mi	7/2.0 (+1)	2,460 (+11%)	10mo	$215,000	$87	41

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 3.08×
• Total profit: $189,137
• Equity at exit: $292,696

10-year hold

• IRR: 22.9%
• Equity multiple: 7.02×
• Total profit: $547,506
• Equity at exit: $631,209

Cash invested: $90,972 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $3,072 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$397 /mo · $4,764/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $191

Break-even live

Break-even rent $2,831

Max offer price $324,900

Occupancy floor 89%

Sensitivity live

Price	-10% $375	-5% $283	+0% $191	+5% $99	+10% $7
Rent	-10% $-52	-5% $69	+0% $191	+5% $312	+10% $433
Rate	-1.0pp $354	-0.5pp $273	base $191	+0.5pp $107	+1.0pp $21

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,072
Total (2 units)			$3,072

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $324,900 Active 20 DOM
2. 2026-06-17
   days on market $324,900 Active 19 DOM
3. 2026-06-16
   days on market $324,900 Active 18 DOM
4. 2026-06-15
   days on market $324,900 Active 17 DOM
5. 2026-06-14
   days on market $324,900 Active 15 DOM
6. 2026-06-13
   days on market $324,900 Active 14 DOM
7. 2026-06-10
   days on market $324,900 Active 12 DOM
8. 2026-06-09
   days on market $324,900 Active 11 DOM
9. 2026-06-08
   days on market $324,900 Active 10 DOM
10. 2026-06-07
    days on market $324,900 Active 9 DOM
11. 2026-06-03
    days on market $324,900 Active 5 DOM
12. 2026-06-02
    days on market $324,900 Active 4 DOM
13. 2026-06-01
    days on market $324,900 Active 3 DOM
14. 2026-05-31
    days on market $324,900 Active 2 DOM
15. 2026-05-31
    remarks 229-char remark
16. 2026-05-31
    listed $324,900 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: $4,764 · $397/mo
• Projected year-2 tax: $5,127 · $427/mo
• Expected delta: +$364/yr (+$30/mo · 7.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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: $36,864
• − Mortgage interest: −$18,199
• − Property taxes: −$4,764
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,949
• − Management: −$2,949
• − Depreciation: −$9,452
• Taxable loss: −$3,074
• Est. tax savings @ 24.0%: +$738
• After-tax cash flow: $3,026/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
• City population: 141,369
• Population (ZIP): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

+551.1% since first listed

29 events — show timeline

• 2026-05-28 Listed $324,900 Global MLS
• 2025-12-31 Listing Removed — Global MLS
• 2025-06-30 Listed $324,900 Global MLS
• 2024-05-10 Sold (Public Records) $155,000 Public Records
• 2024-04-26 Sold (MLS) $155,000 Global MLS
• 2024-04-09 Pending — Global MLS
• 2024-04-06 Listed $174,900 Global MLS
• 2024-02-24 Listing Removed — Global MLS
• 2024-01-05 Price Changed $195,500 Global MLS
• 2023-10-04 Price Changed $204,900 Global MLS
• 2023-08-23 Listed $214,900 Global MLS
• 2022-05-02 Listing Removed — Global MLS
• 2022-01-02 Pending — Global MLS
• 2021-12-08 Price Changed $143,500 Global MLS
• 2021-12-06 Price Changed $149,900 Global MLS
• 2021-11-04 Listed $154,900 Global MLS
• 2016-07-06 Sold (MLS) $10,900 Global MLS
• 2016-06-20 Pending — Global MLS
• 2016-05-04 Listed $10,500 Global MLS
• 2015-02-27 Sold (Public Records) $500 Public Records
• 2014-08-12 Sold (Public Records) $500 Public Records
• 2007-02-02 Sold (Public Records) $72,000 Public Records
• 2007-01-29 Sold (MLS) $72,080 Global MLS
• 2006-11-13 Listing Removed — Global MLS
• 2006-10-26 Listed $72,000 Global MLS
• 2004-10-15 Sold (MLS) $45,000 Global MLS
• 2003-11-26 Sold (Public Records) $46,500 Public Records
• 2003-08-15 Listing Removed — Global MLS
• 2003-08-08 Listed $49,900 Global MLS

Property tax history

+1.0%/yr

Latest (2025): $4,764 · +4.1% YoY. Source: county tax records.