22 Orr St · Troy, NY 12180

$99,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 11 Days on market

Built 1910 6,969 sqft lot Est $161k · 38% under ↓ 40% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks

Welcome to 22 Orr Street -- a single-level bungalow set on an oversized . 16-acre lot in the City of Troy, offering flexibility, functionality, and serious upside. Previously configured as a 3-bedroom, 1-bath home with a formal dining room, this property features a layout that works for today while presenting exciting possibilities for tomorrow. The listing photos include both the current floor plan and a sample reimagined layout, illustrating just one of many ways an investor or owner could unlock additional value. Whether you maintain the existing footprint or pursue a thoughtful redesign, the potential here is undeniable. Originally comprised of three separate parcels that have since bee

Key facts

• Oversized lot
• Off-street parking
• 6,969 sq ft lot

Tags

• OVERSIZED LOT
• OFF-STREET PARKING
• FRONT SCREENED-IN PORCH
• REAR SCREENED-IN BONUS ROOM
• QUIET DEAD-END STREET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 11.2% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 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 ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 3.3% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1910 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.58% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.38%
• DSCR: 1.77
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $160,720
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
372 9th St	0.25mi	3/1.0	1,038 (+6%)	5mo	$170,000	$164	75
429 10th St	0.31mi	4/1.0 (+1)	912 (-7%)	8mo	$124,000	$136	62
60 Oakwood Ave	0.37mi	2/1.5 (-1)	1,042 (+6%)	20mo	$195,000	$187	49
24 Summit Ave	0.22mi	2/1.0 (-1)	1,116 (+14%)	17mo	$225,000	$202	48
1 Center St	0.69mi	3/2.0	1,100 (+12%)	2mo	$84,000	$76	42
154 George St	0.61mi	3/1.0	1,107 (+13%)	13mo	$145,000	$131	39
22 Centerview Dr	0.73mi	3/1.0	1,092 (+11%)	23mo	$280,000	$256	28

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: 11.2%
• Equity multiple: 1.46×
• Total profit: $12,659
• Equity at exit: $14,761

10-year hold

• IRR: 21.9%
• Equity multiple: 3.07×
• Total profit: $57,268
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$519
• Tax from tax record: −$273 /mo · $3,276/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $402

Break-even live

Break-even rent $1,055

Max offer price $99,000

Occupancy floor 69%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3132-3134 6th Ave Troy, NY	2.0	1.0	950	$1,300	$1.37	23d	1	0.12mi
3132-3134 6th Ave Troy, NY	3.0	1.0	950	$1,350	$1.42	14d	1	0.12mi
3134 6th Ave Troy, NY	2.0	1.0	950	$1,280	$1.35	14d	1	0.12mi
40 102nd St Apt 6 Troy, NY	2.0	1.0	1000	$1,200	$1.20	23d	1	0.56mi
159 Hoosick St Unit 1R Troy, NY	2.0	1.0	1050	$795	$0.76	19d	1	0.63mi
169 Hutton St Unit 2 Troy, NY	2.0	1.0	1000	$795	$0.80	14d	1	0.76mi
2420 21st St Troy, NY	1.0–2.0	1.0	775	$1,410	$1.82	19d	1	0.78mi
50 Paine St Unit Second floor Green Island, NY	2.0	1.0	800	$1,200	$1.50	43d	1	0.87mi
2209 15th St Troy, NY	3.0	1.0	950	$2,595	$2.73	23d	1	0.94mi
3 25th St Troy, NY	1.0–2.0	1.0	805	$1,555	$1.93	14d	1	1.00mi
2002 Federal St Troy, NY	2.0	1.0–2.0	830	$3,450	$4.16	14d	51	1.01mi
2001 5th Ave Troy, NY	2.0	1.0–2.0	865	$2,650	$3.06	14d	10	1.04mi
5 Alden St Unit b Watervliet, NY	2.0	1.0	1100	$1,299	$1.18	43d	1	1.22mi
5 Alden St Watervliet, NY	2.0	1.0	1000	$1,299	$1.30	19d	1	1.22mi
386 3rd Ave #1 Troy, NY	3.0	1.0	1024	$1,700	$1.66	14d	1	1.34mi
104 4th St Unit 2 Troy, NY	3.0	1.0	950	$1,800	$1.89	14d	1	1.36mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$2,996	$1.66	14d	7	1.36mi
415 7th Ave Unit 2 Troy, NY	3.0	1.0	850	$1,675	$1.97	14d	1	1.38mi
1611 6th Ave Troy, NY	1.0–2.0	1.0–2.0	976	$3,000	$3.07	14d	28	1.38mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,224	$1.01	23d	8	1.44mi
151 4th St Troy, NY	4.0	1.0	1000	$1,400	$1.40	23d	1	1.48mi
155 River St Unit 5D Troy, NY	2.0	1.0	900	$2,000	$2.22	43d	1	1.48mi
155 River St Unit 3C Troy, NY	2.0	1.0	1100	$2,000	$1.82	14d	1	1.48mi

Listing history 2 events

1. 2026-06-16
   remarks 699-char remark
2. 2026-06-16
   listed $99,000 Pending 11 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: $3,276 · $273/mo
• Projected year-2 tax: $3,276 · $273/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 5/10 Major FEMA zone X · 38% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $18,758
• − Mortgage interest: −$5,546
• − Property taxes: −$3,276
• − Insurance: −$495
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$2,880
• Taxable income: $3,561
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $3,964/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

-40.0% since first listed

5 events — show timeline

• 2026-03-22 Pending — Global MLS
• 2026-03-12 Listed $99,000 Global MLS
• 2025-08-07 Listing Removed — Global MLS
• 2025-07-02 Price Changed $140,000 Global MLS
• 2025-04-11 Listed $165,000 Global MLS

Property tax history

+16.4%/yr

Latest (2025): $3,276 · -5.2% YoY. Source: county tax records.