1529 7th Ave · Watervliet, NY 12189

$274,900

6 bd · 2.0 ba · 1,784 sqft · MultiFamily public records · 25 Days on market

Built 1920 2,613 sqft lot Est $219k · 25% 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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• 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

2 Family that offers 1784 sq ft, 3 bedrooms, and 2 Full Baths, 1 car detached garage situated in Watervliet Schools on 0.06 acres. Public utilities. SOLD AS IS.

Key facts

• Quiet street
• Completely remodeled
• Bus routes

Tags

• FULLY RENOVATED DUPLEX
• QUIET STREET
• MAJOR HIGHWAYS
• BUS ROUTES
• DETACHED GARAGE
• COMPLETELY REMODELED

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $912 ($11k/yr) — positive. Per door: $456/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.9% in Watervliet — 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 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 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).
• At $3,731/mo this rent would consume 69% of the median local household income ($65k/yr) (locally 1224% 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 $8k 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 (-3.0% appreciation + 6.6% rent growth), your $77k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $96k; list at $275k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $270,776 (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 1920 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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?
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: 1.36% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.22%
• DSCR: 1.63
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $219,432
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1244 5th Ave	0.25mi	5/2.0 (-1)	1,876 (+5%)	12mo	$235,000	$125	64
2325 6th Ave	0.46mi	5/2.0 (-1)	1,872 (+5%)	5mo	$230,000	$123	61
1314 7th Ave	0.19mi	5/3.0 (-1)	1,894 (+6%)	15mo	$201,900	$107	60
2105 4th Ave	0.33mi	5/2.0 (-1)	1,892 (+6%)	17mo	$240,000	$127	55
2425 Broadway	0.63mi	6/2.0	1,800 (+1%)	18mo	$262,000	$146	55
603 24th St	0.50mi	6/2.0	1,880 (+5%)	17mo	$201,000	$107	54
1315 6th Ave	0.18mi	5/2.0 (-1)	2,024 (+14%)	19mo	$155,000	$77	48

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 · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.36×
• Total profit: $27,714
• Equity at exit: $40,988

10-year hold

• IRR: 21.0%
• Equity multiple: 3.10×
• Total profit: $161,557
• Equity at exit: $23,768

Cash invested: $76,972 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $3,731 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$479 /mo · $5,754/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$784
• Net cashflow: $912

Break-even live

Break-even rent $2,577

Max offer price $274,900

Occupancy floor 71%

Sensitivity live

Price	-10% $1,067	-5% $990	+0% $912	+5% $834	+10% $756
Rent	-10% $617	-5% $764	+0% $912	+5% $1,059	+10% $1,207
Rate	-1.0pp $1,050	-0.5pp $982	base $912	+0.5pp $841	+1.0pp $768

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,732
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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 14th St Unit 2 Troy, NY	5.0	2.0	1600	$625	$0.39	20d	1	1.40mi
41 Christie St Troy, NY	5.0	2.0	1277	$700	$0.55	15d	1	1.47mi

Listing history 16 events

1. 2026-01-05
   status Pending
2. 2025-12-11
   listed $274,900 Active
3. 2023-01-20
   soldstatus $95,500
4. 2023-01-07
   status Pending 162-char remark

   Show marketing remark (162 chars)

   2 Family that offers 1784 sq ft, 3 bedrooms, and 2 Full Baths, 1 car detached garage situated in Watervliet Schools on 0.06 acres. Public utilities. SOLD AS IS.

5. 2022-11-22
   listed $99,500 Active 162-char remark

   Show marketing remark (162 chars)

   2 Family that offers 1784 sq ft, 3 bedrooms, and 2 Full Baths, 1 car detached garage situated in Watervliet Schools on 0.06 acres. Public utilities. SOLD AS IS.

6. 2022-10-21
   historical
7. 2022-08-25
   listed $115,000 Active
8. 2006-10-12
   soldstatus $129,850
9. 2006-09-21
   soldstatus $122,500
10. 2006-08-14
    historical
11. 2006-08-01
    listed $128,000
12. 2004-07-12
    soldstatus $82,400
13. 2004-05-30
    soldstatus $75,000
14. 2004-04-28
    historical
15. 2004-04-28
    soldstatus $20,000
16. 2004-04-26
    listed $79,900

ⓘ 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: $5,754 · $479/mo
• Projected year-2 tax: $5,754 · $479/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $44,772
• − Mortgage interest: −$15,399
• − Property taxes: −$5,754
• − Insurance: −$1,374
• − Repairs & maintenance: −$3,582
• − Management: −$3,582
• − Depreciation: −$7,997
• Taxable income: $7,085
• Est. tax owed @ 24.0%: −$1,700
• After-tax cash flow: $9,242/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: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, NY
• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

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 (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 2%

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: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

+244.1% since first listed

16 events — show timeline

• 2026-01-05 Pending — Global MLS
• 2025-12-11 Listed $274,900 Global MLS
• 2023-01-20 Sold (Public Records) $95,500 Public Records
• 2023-01-07 Pending — Global MLS
• 2022-11-22 Listed $99,500 Global MLS
• 2022-10-21 Listing Removed — Global MLS
• 2022-08-25 Listed $115,000 Global MLS
• 2006-10-12 Sold (Public Records) $129,850 Public Records
• 2006-09-21 Sold (MLS) $122,500 Global MLS
• 2006-08-14 Listing Removed — Global MLS
• 2006-08-01 Listed $128,000 Global MLS
• 2004-07-12 Sold (Public Records) $82,400 Public Records
• 2004-05-30 Sold (MLS) $75,000 Global MLS
• 2004-04-28 Sold (Public Records) $20,000 Public Records
• 2004-04-28 Listing Removed — Global MLS
• 2004-04-26 Listed $79,900 Global MLS

Property tax history

+5.2%/yr

Latest (2025): $5,754 · +3.2% YoY. Source: county tax records.