1142 Cutler St · Schenectady, NY 12303

$290,000

6 bd · 2.0 ba · 2,004 sqft · MultiFamily public records · 35 Days on market

Built 1910 0.33 ac lot $145/sqft · 17% below area Est $351k · 17% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.2/10.0
• DSCR +7.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

City Owned Two Family Available, Needs Work. Please view documents for all necessary paperwork. The amount of $62,500 in verifiable reserves is required for offers to be considered. All utilities are disconnected, please bring flashlight. Offers must include MLS contract offer, city purchase form, all supporting financial papers and proof of funds totaling purchase amount plus reserve requirement. Buyer responsible for verifying taxes. Please review the following information on the City's website: http://www.cityofschenectady.com/356/City-Owned-Residential-Property. The City will not review offers without all supporting paperwork. Offers must be submitted by 5PM the Thursday before the PMC meeting is held.

Key facts

• Fully renovated
• Turnkey property
• Local bus lines

Tags

• FULLY RENOVATED
• OFF-STREET PARKING
• PRIME LOCATION
• LOCAL BUS LINES
• SHOPPING
• TURNKEY PROPERTY

Property features AI

Exterior

• Parking: Driveway with space for 6 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Two-family property
• Construction: Aluminum siding; Concrete perimeter foundation; Built as a duplex (living area reported)
• Exterior features: Shingle roof; Lot approximately 0.33 acre

Interior

• Bedrooms: Unit 1 has 4 bedrooms; Unit 2 has 3 bedrooms
• Flooring: Vinyl; Tile; Laminate
• Bathrooms: Two full bathrooms (one on the 1st level, one on the 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Baseboard heating; Forced air heating
• Interior features: Vinyl, tile, and laminate flooring; Full basement with interior entry

What this means for you Summary

Snapshot

• This is a 1×4bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive. Per door: $226/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $281k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 6.3% in Schenectady — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 161 active listings in the ZIP; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $3,537/mo this rent would consume 50% of the median local household income ($84k/yr) (locally 1318% 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 $9k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $26k; list at $290k implies a 994% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $281,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.22% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 6.8

CMA / ARV

• ARV (median comp): $350,525
• List price: $290,000
• Delta: -17.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1142 Cutler St	0.00mi	5/2.0 (-1)	2,004 (0%)	19mo	$26,500	$13	79
1004 Cutler St	0.23mi	5/2.5 (-1)	1,980 (-1%)	14mo	$299,000	$151	69
1114 9th Ave	0.35mi	6/3.0	2,112 (+5%)	3mo	$247,500	$117	68
1235 Crane St	0.38mi	6/2.0	2,236 (+12%)	6mo	$238,500	$107	58
1228 Crane St	0.36mi	5/3.0 (-1)	2,154 (+8%)	5mo	$260,000	$121	58
913-915 Bridge St	0.63mi	5/2.0 (-1)	2,056 (+3%)	10mo	$315,000	$153	53
1710 Helderberg Ave	0.74mi	6/2.0	2,008 (+0%)	17mo	$298,000	$148	51
1491 Broadway	0.63mi	5/2.0 (-1)	2,072 (+3%)	12mo	$44,575	$22	50
1237 4th Ave	0.38mi	6/2.0	1,712 (-15%)	11mo	$275,000	$161	49
1287 Van Cortland St	0.62mi	6/2.0	2,087 (+4%)	18mo	$300,000	$144	49
1429 Chrisler Ave	0.64mi	6/2.0	2,116 (+6%)	17mo	$319,000	$151	47
1942 Euclid Ave	0.57mi	6/2.0	2,220 (+11%)	11mo	$265,000	$119	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-17,936
• Equity at exit: $43,240

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $22,522
• Equity at exit: $25,074

Cash invested: $81,200 (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 12303

• Active inventory: 161
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,537 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$700 /mo · $8,406/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$743
• Net cashflow: $452

Break-even live

Break-even rent $2,965

Max offer price $290,000

Occupancy floor 82%

Sensitivity live

Price	-10% $616	-5% $534	+0% $452	+5% $370	+10% $288
Rent	-10% $173	-5% $312	+0% $452	+5% $592	+10% $732
Rate	-1.0pp $598	-0.5pp $526	base $452	+0.5pp $377	+1.0pp $301

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

Units	Beds	Baths	Est. rent
1× unit	4	1	$1,906
1× unit	3	1	$1,631
Total (2 units)			$3,537

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $290,000 Active 35 DOM
2. 2026-06-17
   days on market $290,000 Active 34 DOM
3. 2026-06-16
   days on market $290,000 Active 33 DOM
4. 2026-06-15
   days on market $290,000 Active 32 DOM
5. 2026-06-14
   days on market $290,000 Active 30 DOM
6. 2026-06-13
   days on market $290,000 Active 29 DOM
7. 2026-06-10
   days on market $290,000 Active 27 DOM
8. 2026-06-09
   days on market $290,000 Active 26 DOM
9. 2026-06-08
   days on market $290,000 Active 25 DOM
10. 2026-06-07
    days on market $290,000 Active 24 DOM
11. 2026-06-03
    days on market $290,000 Active 20 DOM
12. 2026-06-02
    days on market $290,000 Active 19 DOM
13. 2026-06-01
    days on market $290,000 Active 18 DOM
14. 2026-05-31
    days on market $290,000 Active 17 DOM
15. 2026-05-31
    days on market $290,000 Active 16 DOM
16. 2026-05-14
    listed $290,000 Active 522-char remark
17. 2024-11-22
    soldstatus $26,500 Closed 715-char remark

    Show marketing remark (715 chars)

    City Owned Two Family Available, Needs Work. Please view documents for all necessary paperwork. The amount of $62,500 in verifiable reserves is required for offers to be considered. All utilities are disconnected, please bring flashlight. Offers must include MLS contract offer, city purchase form, all supporting financial papers and proof of funds totaling purchase amount plus reserve requirement. Buyer responsible for verifying taxes. Please review the following information on the City's website: http://www.cityofschenectady.com/356/City-Owned-Residential-Property. The City will not review offers without all supporting paperwork. Offers must be submitted by 5PM the Thursday before the PMC meeting is held.

18. 2024-08-20
    status Pending 715-char remark

    Show marketing remark (715 chars)

    City Owned Two Family Available, Needs Work. Please view documents for all necessary paperwork. The amount of $62,500 in verifiable reserves is required for offers to be considered. All utilities are disconnected, please bring flashlight. Offers must include MLS contract offer, city purchase form, all supporting financial papers and proof of funds totaling purchase amount plus reserve requirement. Buyer responsible for verifying taxes. Please review the following information on the City's website: http://www.cityofschenectady.com/356/City-Owned-Residential-Property. The City will not review offers without all supporting paperwork. Offers must be submitted by 5PM the Thursday before the PMC meeting is held.

19. 2024-04-29
    listed $34,900 Active 715-char remark

    Show marketing remark (715 chars)

    City Owned Two Family Available, Needs Work. Please view documents for all necessary paperwork. The amount of $62,500 in verifiable reserves is required for offers to be considered. All utilities are disconnected, please bring flashlight. Offers must include MLS contract offer, city purchase form, all supporting financial papers and proof of funds totaling purchase amount plus reserve requirement. Buyer responsible for verifying taxes. Please review the following information on the City's website: http://www.cityofschenectady.com/356/City-Owned-Residential-Property. The City will not review offers without all supporting paperwork. Offers must be submitted by 5PM the Thursday before the PMC meeting is held.

ⓘ 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: $8,406 · $700/mo
• Projected year-2 tax: $8,406 · $700/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 · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $42,444
• − Mortgage interest: −$16,245
• − Property taxes: −$8,406
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,396
• − Management: −$3,396
• − Depreciation: −$8,436
• Taxable income: $1,116
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $5,158/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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -151.01%
• Current HPI: 280.3886
• Rent YoY: —
• 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

+730.9% since first listed

4 events — show timeline

• 2026-05-14 Listed $290,000 Global MLS
• 2024-11-22 Sold (MLS) $26,500 Global MLS
• 2024-08-20 Pending — Global MLS
• 2024-04-29 Listed $34,900 Global MLS

Property tax history

+4.8%/yr

Latest (2025): $8,406 · +674.9% YoY. Source: county tax records.