68 Bassett St · Albany, NY 12202

$239,900

4 bd · 1.0 ba · 1,614 sqft · Townhouse public records · 50 Days on market

Built 1890 1,306 sqft lot $149/sqft · 35% above area Est $178k · 35% over

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

Key facts

• Close to restaurants
• Open concept
• Single family home

Tags

• SINGLE FAMILY HOME
• LARGE KITCHEN
• OPEN CONCEPT
• CLOSE TO DOWNTOWN
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Level lot
• Construction: Vinyl siding; Rubber roof
• Exterior features: Garden

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One bedroom on the first floor; Four bedrooms on the second floor
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom (located on the second floor)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Ceramic-tiled bathroom; Full basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (20.8% below list).
• Recommended offer: $190k (20.8% below list) — sets the bar for 1% rule.

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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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 $80k; list at $240k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,944 (20.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — 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. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.79% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.70%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $177,682
• List price: $239,900
• Delta: 35.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.95×
• Total profit: $131,097
• Equity at exit: $216,121

10-year hold

• IRR: 22.5%
• Equity multiple: 7.23×
• Total profit: $418,542
• Equity at exit: $466,073

Cash invested: $67,172 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,899 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$294 /mo · $3,523/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-151

Break-even live

Break-even rent $2,091

Max offer price $213,211

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-83	+0% $-151	+5% $-219	+10% $-287
Rent	-10% $-301	-5% $-226	+0% $-151	+5% $-76	+10% $-1
Rate	-1.0pp $-30	-0.5pp $-90	base $-151	+0.5pp $-213	+1.0pp $-276

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	45d	1	0.32mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	16d	1	0.32mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	23d	1	0.32mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	45d	1	0.74mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	45d	1	0.81mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	25d	1	0.81mi
22 Hurlbut St Albany, NY	3.0	1.0	1209	$2,050	$1.70	45d	1	1.07mi
945 Broadway Rensselaer, NY	3.0	1.0	1200	$1,650	$1.38	25d	1	1.09mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	16d	10	1.09mi
31 Bertha St Albany, NY	4.0	1.0	1116	$2,000	$1.79	25d	1	1.10mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	45d	1	1.17mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	45d	1	1.20mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	16d	1	1.25mi
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	45d	1	1.40mi
50 Southern Blvd Albany, NY	3.0	1.0	1200	$1,650	$1.38	16d	1	1.43mi

Listing history 35 events

1. 2026-06-21
   days on market $239,900 Active 50 DOM
2. 2026-06-18
   days on market $239,900 Active 47 DOM
3. 2026-06-17
   days on market $239,900 Active 46 DOM
4. 2026-06-16
   days on market $239,900 Active 45 DOM
5. 2026-06-15
   days on market $239,900 Active 44 DOM
6. 2026-06-14
   days on market $239,900 Active 42 DOM
7. 2026-06-10
   days on market $239,900 Active 39 DOM
8. 2026-06-08
   days on market $239,900 Active 37 DOM
9. 2026-06-07
   days on market $239,900 Active 36 DOM
10. 2026-06-03
    days on market $239,900 Active 32 DOM
11. 2026-06-03
    price $239,900 Active 31 DOM
12. 2026-06-02
    days on market $249,900 Active 31 DOM
13. 2026-06-01
    days on market $249,900 Active 30 DOM
14. 2026-05-31
    days on market $249,900 Active 29 DOM
15. 2026-05-31
    days on market $249,900 Active 28 DOM
16. 2026-05-02
    listed $249,900 Active 400-char remark
17. 2026-01-22
    soldstatus $80,000 Closed 763-char remark

    Show marketing remark (763 chars)

    Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

18. 2025-11-05
    status Pending 763-char remark

    Show marketing remark (763 chars)

    Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

19. 2025-10-04
    price $95,000 763-char remark

    Show marketing remark (763 chars)

    Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

20. 2025-09-08
    status Active 763-char remark

    Show marketing remark (763 chars)

    Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

21. 2025-06-30
    status Pending 763-char remark

    Show marketing remark (763 chars)

    Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

22. 2025-05-23
    listed $99,900 Active 763-char remark

    Show marketing remark (763 chars)

    Welcome To 68 Bassett! Unlock The Possibilities With This Spacious 1,614 Sq Ft Fixer-Upper, Ideally Situated In The City Of Albany. Whether You're An Investor Seeking Your Next Project Or A Visionary Homeowner Ready To Customize A Home To Your Taste, This Property Is Brimming With Potential. Property Highlights: • Expansive Living & Dining Areas - Colossal Rooms Offering Ample Space For Entertaining Or Reconfiguration. • Third-Floor Attic - Versatile Space Ideal For Additional Bedrooms, A Home Office, Or Storage. • Prime Location - Located Near The Albany Bus Terminal And Amtrak Station, With Quick Access To I-90 And I-87. This Is Your Opportunity To Reimagine And Revitalize A Property In A Well-Connected Location. As is

23. 2022-01-08
    historical
24. 2021-12-21
    status Active
25. 2021-12-14
    historical
26. 2021-10-30
    price $90,000
27. 2021-10-30
    status Back On Market
28. 2021-10-17
    status Pend (Under Cntr)
29. 2021-08-05
    price $92,000
30. 2021-07-12
    price $99,000
31. 2021-07-08
    listed $110,000 New
32. 2017-04-26
    soldstatus $83,300
33. 2017-04-21
    soldstatus $82,300 Closed (Final Sale)
34. 2017-03-25
    status Pend (Under Cntr)
35. 2016-09-23
    listed $85,000 New

ⓘ 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: $3,523 · $294/mo
• Projected year-2 tax: $3,789 · $316/mo
• Expected delta: +$265/yr (+$22/mo · 7.5%)

ⓘ 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 (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 18 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: $22,793
• − Mortgage interest: −$13,438
• − Property taxes: −$3,523
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − Depreciation: −$6,979
• Taxable loss: −$5,994
• Est. tax savings @ 24.0%: +$1,438
• After-tax cash flow: $-374/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

+182.2% since first listed

21 events — show timeline

• 2026-06-02 Price Changed $239,900 Global MLS
• 2026-05-02 Listed $249,900 Global MLS
• 2026-01-22 Sold (MLS) $80,000 Global MLS
• 2025-11-05 Pending — Global MLS
• 2025-10-04 Price Changed $95,000 Global MLS
• 2025-09-08 Relisted — Global MLS
• 2025-06-30 Pending — Global MLS
• 2025-05-23 Listed $99,900 Global MLS
• 2022-01-08 Listing Removed — Global MLS
• 2021-12-21 Relisted — Global MLS
• 2021-12-14 Listing Removed — Global MLS
• 2021-10-30 Price Changed $90,000 Global MLS
• 2021-10-30 Relisted — Global MLS
• 2021-10-17 Pending — Global MLS
• 2021-08-05 Price Changed $92,000 Global MLS
• 2021-07-12 Price Changed $99,000 Global MLS
• 2021-07-08 Listed $110,000 Global MLS
• 2017-04-26 Sold (Public Records) $83,300 Public Records
• 2017-04-21 Sold (MLS) $82,300 Global MLS
• 2017-03-25 Pending — Global MLS
• 2016-09-23 Listed $85,000 Global MLS

Property tax history

-0.9%/yr

Latest (2025): $3,523 · -9.0% YoY. Source: county tax records.