1326 8th Ave · Watervliet, NY 12189

$275,000

4 bd · 2.0 ba · 1,908 sqft · MultiFamily public records · 30 Days on market

Built 1920 6,098 sqft lot $144/sqft · 22% below area Est $351k · 22% under

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +7.5/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• 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

Do not miss this amazing fully rented investment opportunity! Great month to month tenants on both floors. Each tenant has their own fenced in yard, plus a shared front yard. Fresh paint, carpeting/hardwood flooring throughout installed (2018). 1 car garage has full 2nd floor storage. Beautiful, quiet neighborhood close to Latham. Walking distance to bus line, and stores. Good Condition, property is ''as is'' 3 car garage has great income potential since it is already there but does need work!

Key facts

• Near dining
• Off street parking
• Near shopping

Tags

• DOUBLE LOT
• OFF STREET PARKING
• PRIVATE FENCED YARD
• TURNKEY
• NEAR SHOPPING
• NEAR DINING

Property features AI

Finance

• Other: Lot size about 0.14 acres
• Financial info: Owner pays trash collection, sewer, snow removal, water, and grounds care

Exterior

• Parking: 4 garage spaces; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area approximately 1,908
• Construction: Aluminum siding
• Exterior features: Back yard fencing with chain link and gate; Detached garages/garage structures

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: 2 full bathrooms total (one on first level, one on second level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Electric heating
• Interior features: Crawl space basement; Separate laundry room
• Laundry & utility: Laundry room

🏷️ Possibly a rental listed for sale. The $275,000 price doesn't fit this home's estimated sale value (~$350,646) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive. Per door: $296/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,441/mo this rent would consume 63% 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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 $88k; list at $275k implies a 214% 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 $270,875 (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: 1.25% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 6.7

CMA / ARV

• ARV (median comp): $350,646
• List price: $275,000
• Delta: -21.57%
• 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
778 14th St	0.02mi	4/2.0	1,920 (+1%)	10mo	$228,000	$119	90
1291 3rd Ave	0.26mi	4/2.0	1,964 (+3%)	10mo	$309,000	$157	75
1314 7th Ave	0.07mi	5/3.0 (+1)	1,894 (-1%)	14mo	$201,900	$107	74
1244 5th Ave	0.17mi	5/2.0 (+1)	1,876 (-2%)	12mo	$235,000	$125	74
1506-08 7th Ave	0.14mi	4/4.0	2,108 (+10%)	0mo	$190,000	$90	68
2325 6th Ave	0.61mi	5/2.0 (+1)	1,872 (-2%)	5mo	$230,000	$123	59
25 13th St	0.41mi	5/2.0 (+1)	2,106 (+10%)	1mo	$289,900	$138	58
2418 9th Ave	0.67mi	3/2.0 (-1)	1,890 (-1%)	13mo	$220,000	$116	51
818 24th St	0.62mi	4/2.0	2,066 (+8%)	8mo	$274,000	$133	51
2327 12th Ave	0.67mi	4/2.0	2,068 (+8%)	5mo	$290,000	$140	51
109 13th St	0.37mi	5/2.0 (+1)	2,112 (+11%)	12mo	$232,500	$110	50
614 19th St	0.42mi	3/2.5 (-1)	2,170 (+14%)	13mo	$285,000	$131	40

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $6,261
• Equity at exit: $41,003

10-year hold

• IRR: 15.2%
• Equity multiple: 2.45×
• Total profit: $111,996
• Equity at exit: $23,777

Cash invested: $77,000 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $3,441 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$570 /mo · $6,841/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$723
• Net cashflow: $592

Break-even live

Break-even rent $2,692

Max offer price $275,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,440
Total (2 units)			$3,441

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 2nd St Troy, NY	4.0	1.5	2442	$3,000	$1.23	21d	1	0.84mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	14d	1	0.91mi
363 1st St Troy, NY	3.0	2.5	1408	$2,100	$1.49	21d	1	0.91mi
17 State St Troy, NY	4.0	1.0–1.5	1810	$3,635	$2.01	14d	7	0.92mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,349	$1.12	23d	8	1.13mi
6-14 Cedarview Ln Watervliet, NY	3.0	2.5	2000	$3,300	$1.65	14d	1	1.23mi
11 Spring Ave Troy, NY	3.0	2.0	1788	$2,500	$1.40	23d	1	1.45mi
53 13th St Troy, NY	4.0	1.0	1500	$650	$0.43	19d	1	1.46mi
51 14th St Unit 2 Troy, NY	4.0	2.0	2000	$725	$0.36	19d	1	1.49mi
904 Peoples Ave Troy, NY	4.0	1.0	1800	$645	$0.36	19d	1	1.49mi
79 14th St Unit 1 Troy, NY	3.0	1.0	1500	$650	$0.43	19d	1	1.50mi
79 14th St Unit 2 Troy, NY	4.0	1.0	1500	$650	$0.43	19d	1	1.50mi

Listing history 36 events

1. 2026-06-15
   status $275,000 Pending 30 DOM
2. 2026-06-15
   days on market $275,000 Active 30 DOM
3. 2026-06-14
   days on market $275,000 Active 28 DOM
4. 2026-06-10
   days on market $275,000 Active 25 DOM
5. 2026-06-09
   days on market $275,000 Active 24 DOM
6. 2026-06-08
   days on market $275,000 Active 23 DOM
7. 2026-06-07
   days on market $275,000 Active 22 DOM
8. 2026-06-05
   remarks 699-char remark
9. 2026-06-05
   days on market $275,000 Active 19 DOM
10. 2026-06-03
    status $275,000 Active 18 DOM
11. 2026-06-02
    status $275,000 Pending 18 DOM
12. 2026-06-01
    days on market $275,000 Active 18 DOM
13. 2026-05-31
    days on market $275,000 Active 17 DOM
14. 2026-05-31
    days on market $275,000 Active 16 DOM
15. 2026-05-11
    listed $275,000 Active 600-char remark
16. 2026-04-17
    status Pending
17. 2026-04-17
    historical
18. 2026-03-25
    listed $275,000 Active
19. 2022-11-15
    status Pending

    Show marketing remark (499 chars)

    Do not miss this amazing fully rented investment opportunity! Great month to month tenants on both floors. Each tenant has their own fenced in yard, plus a shared front yard. Fresh paint, carpeting/hardwood flooring throughout installed (2018). 1 car garage has full 2nd floor storage. Beautiful, quiet neighborhood close to Latham. Walking distance to bus line, and stores. Good Condition, property is ''as is'' 3 car garage has great income potential since it is already there but does need work!

20. 2022-10-31
    status Active

    Show marketing remark (499 chars)

    Do not miss this amazing fully rented investment opportunity! Great month to month tenants on both floors. Each tenant has their own fenced in yard, plus a shared front yard. Fresh paint, carpeting/hardwood flooring throughout installed (2018). 1 car garage has full 2nd floor storage. Beautiful, quiet neighborhood close to Latham. Walking distance to bus line, and stores. Good Condition, property is ''as is'' 3 car garage has great income potential since it is already there but does need work!

21. 2022-09-13
    status Pending

    Show marketing remark (499 chars)

    Do not miss this amazing fully rented investment opportunity! Great month to month tenants on both floors. Each tenant has their own fenced in yard, plus a shared front yard. Fresh paint, carpeting/hardwood flooring throughout installed (2018). 1 car garage has full 2nd floor storage. Beautiful, quiet neighborhood close to Latham. Walking distance to bus line, and stores. Good Condition, property is ''as is'' 3 car garage has great income potential since it is already there but does need work!

22. 2022-09-08
    historical Contingent

    Show marketing remark (499 chars)

    Do not miss this amazing fully rented investment opportunity! Great month to month tenants on both floors. Each tenant has their own fenced in yard, plus a shared front yard. Fresh paint, carpeting/hardwood flooring throughout installed (2018). 1 car garage has full 2nd floor storage. Beautiful, quiet neighborhood close to Latham. Walking distance to bus line, and stores. Good Condition, property is ''as is'' 3 car garage has great income potential since it is already there but does need work!

23. 2022-09-01
    listed $155,000 Active

    Show marketing remark (499 chars)

    Do not miss this amazing fully rented investment opportunity! Great month to month tenants on both floors. Each tenant has their own fenced in yard, plus a shared front yard. Fresh paint, carpeting/hardwood flooring throughout installed (2018). 1 car garage has full 2nd floor storage. Beautiful, quiet neighborhood close to Latham. Walking distance to bus line, and stores. Good Condition, property is ''as is'' 3 car garage has great income potential since it is already there but does need work!

24. 2018-04-18
    soldstatus $87,500
25. 2018-04-11
    soldstatus $93,085 Closed (Final Sale)
26. 2018-01-29
    status Pend (Under Cntr)
27. 2017-11-20
    listed $95,000 New
28. 2017-05-15
    historical
29. 2017-05-01
    price $85,000
30. 2017-05-01
    status Price Change
31. 2017-04-05
    status Pend (Under Cntr)
32. 2017-04-05
    listed $115,000 New
33. 2017-04-05
    historical
34. 2002-11-06
    soldstatus $74,200
35. 2002-10-31
    soldstatus $74,200
36. 2001-11-19
    listed $65,000

ⓘ 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: $6,841 · $570/mo
• Projected year-2 tax: $6,841 · $570/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: $41,292
• − Mortgage interest: −$15,404
• − Property taxes: −$6,841
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,303
• − Management: −$3,303
• − Depreciation: −$8,000
• Taxable income: $3,065
• Est. tax owed @ 24.0%: −$736
• After-tax cash flow: $6,364/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

+323.1% since first listed

25 events — show timeline

• 2026-06-15 Pending — Global MLS
• 2026-06-03 Relisted — Global MLS
• 2026-06-01 Pending — Global MLS
• 2026-05-11 Listed $275,000 Global MLS
• 2026-04-17 Pending — Global MLS
• 2026-04-17 Listing Removed — Global MLS
• 2026-03-25 Listed $275,000 Global MLS
• 2022-11-15 Pending — Global MLS
• 2022-10-31 Relisted — Global MLS
• 2022-09-13 Pending — Global MLS
• 2022-09-08 Contingent — Global MLS
• 2022-09-01 Listed $155,000 Global MLS
• 2018-04-18 Sold (Public Records) $87,500 Public Records
• 2018-04-11 Sold (MLS) $93,085 Global MLS
• 2018-01-29 Pending — Global MLS
• 2017-11-20 Listed $95,000 Global MLS
• 2017-05-15 Listing Removed — Global MLS
• 2017-05-01 Price Changed $85,000 Global MLS
• 2017-05-01 Relisted — Global MLS
• 2017-04-05 Pending — Global MLS
• 2017-04-05 Listed $115,000 Global MLS
• 2017-04-05 Listing Removed — Global MLS
• 2002-11-06 Sold (Public Records) $74,200 Public Records
• 2002-10-31 Sold (MLS) $74,200 Global MLS
• 2001-11-19 Listed $65,000 Global MLS

Property tax history

+15.6%/yr

Latest (2025): $6,841 · +17.8% YoY. Source: county tax records.