103 Delaware Ave · Albany, NY 12202

$250,000

8 bd · 3.0 ba · 3,447 sqft · MultiFamily public records · 16 Days on market

Built 1890 4,791 sqft lot Est $396k · 37% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Spacious Victorian - being sold occupied by lender . Could be a savvy inestement! There is NO ACCESS to this property and is being sold occupied. DO NOT go on the property under any circumstances.

Key facts

• Three unit property
• Access to schools
• Access to services

Tags

• THREE UNIT PROPERTY
• OVERLOOKS GREEN SPACE
• VINTAGE CRAFTSMANSHIP
• ACCESS TO HOSPITALS
• ACCESS TO SCHOOLS
• ACCESS TO SERVICES

Property features AI

Finance

• Financial info: Property is a 3-unit multifamily (triplex); Tenant responsibilities include hot water and other tenant-paid items; owner pays other specified items

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Triplex; Combination foundation; Aluminum siding; Asphalt roof
• Construction: Aluminum siding construction; Combination foundation; Asphalt roof
• Exterior features: Pressure-treated deck; Porch; Chain link fencing; Lot features: other

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Unit 3: 1 bedroom
• Flooring: Wood flooring
• Bathrooms: 3 full bathrooms total; Full bathrooms located on 1st and 2nd levels
• Heating & cooling: Baseboard heating; Heating present
• Interior features: Wood flooring; Fireplace (other type); Basement (other)
• Laundry & utility: Tenants pay hot water; Owner pays other utilities

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.7%/yr); 58 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $165k; list at $250k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $246,250 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 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: 2.08% ✓
• Cap rate: 16.46%
• Cash-on-cash: 36.32%
• DSCR: 2.62
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $396,405
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Delaware Ave	0.06mi	8/4.0	3,510 (+2%)	15mo	$385,000	$110	78
292 Catherine St	0.19mi	9/4.0 (+1)	3,200 (-7%)	1mo	$404,250	$126	70
224 Delaware Ave	0.28mi	7/4.0 (-1)	3,196 (-7%)	10mo	$300,000	$94	57
44 Park Ave	0.55mi	9/3.0 (+1)	3,316 (-4%)	8mo	$382,000	$115	57
167 2nd Ave	0.56mi	8/3.0	3,375 (-2%)	18mo	$370,000	$110	55
184 S Swan St	0.29mi	8/3.0	3,132 (-9%)	22mo	$417,000	$133	53
248 Morris St	0.68mi	7/3.0 (-1)	3,048 (-12%)	3mo	$359,000	$118	42
11 Trinity Pl	0.74mi	8/3.0	3,744 (+9%)	17mo	$225,000	$60	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 55.8%
• Equity multiple: 5.27×
• Total profit: $298,760
• Equity at exit: $225,220

10-year hold

• IRR: 51.6%
• Equity multiple: 13.03×
• Total profit: $842,097
• Equity at exit: $485,695

Cash invested: $70,000 (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 12202

• Home prices YoY: 14.3%
• Rents YoY: 8.7%
• Active inventory: 58
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $5,190 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$566 /mo · $6,794/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,090
• Net cashflow: $2,119

Break-even live

Break-even rent $2,508

Max offer price $250,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,622
1× unit	1	1	$1,568
Total (3 units)			$5,190

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $250,000 Active 16 DOM
2. 2026-06-17
   days on market $250,000 Active 15 DOM
3. 2026-06-16
   days on market $250,000 Active 14 DOM
4. 2026-06-15
   days on market $250,000 Active 13 DOM
5. 2026-06-14
   days on market $250,000 Active 11 DOM
6. 2026-06-10
   days on market $250,000 Active 8 DOM
7. 2026-06-08
   days on market $250,000 Active 6 DOM
8. 2026-06-07
   days on market $250,000 Active 5 DOM
9. 2026-06-03
   remarks 326-char remark
10. 2026-06-03
    listed $250,000 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: $6,794 · $566/mo
• Projected year-2 tax: $6,794 · $566/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 4/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $62,280
• − Mortgage interest: −$14,004
• − Property taxes: −$6,794
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,982
• − Management: −$4,982
• − Depreciation: −$7,273
• Taxable income: $22,994
• Est. tax owed @ 24.0%: −$5,519
• After-tax cash flow: $19,906/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: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

Amenities A+ Commute A+ Cost of living C+ 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: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,166
• Household income: $52,868
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 935.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 40% White 28% Hispanic / Latino 15% Two or more races 14% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 5%
• Common ancestry: Iranian 2% Romanian 1% Serbian 1%
• Foreign-born: 14% · Canada, Philippines, China
• Languages at home: 80% English-only · Spanish 10% Other Asian/Pacific 4% Arabic 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: ▲ 38.05%
• Current HPI: 303.8939
• Rent YoY: ▲ 8.70%
• 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

+119.5% since first listed

9 events — show timeline

• 2026-06-02 Listed $250,000 Global MLS
• 2023-06-09 Sold (MLS) $165,000 Global MLS
• 2023-03-29 Pending — Global MLS
• 2023-03-18 Pending — Global MLS
• 2023-02-22 Listed $169,900 Global MLS
• 2000-02-16 Sold (MLS) $90,000 Global MLS
• 2000-02-11 Sold (Public Records) $90,000 Public Records
• 1999-12-04 Listing Removed — Global MLS
• 1999-08-24 Listed $113,900 Global MLS

Property tax history

+0.1%/yr

Latest (2025): $6,794 · -21.4% YoY. Source: county tax records.