715 2nd Ave · Troy, NY 12182

$199,900

3 bd · 2.0 ba · 2,264 sqft · MultiFamily public records · 23 Days on market

Built 1920 3,049 sqft lot Est $233k · 14% 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 +30.0/30.0
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• 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

Unique, well maintained two family, on busline, close to shopping & schools! 2nd floor is multi-level, flood insurance is required. Very Good Condition

Key facts

• Multi level layout
• 3,049 sq ft lot
• Built 1920

Tags

• MULTI LEVEL LAYOUT
• PRIVATE FENCED IN BACKYARD

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Vinyl siding
• Construction: Rubber roof
• Exterior features: Deck; Waterfront property on the Hudson River; Level lot

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms
• Flooring: Vinyl flooring; Hardwood flooring
• Bathrooms: Two full bathrooms and one half bathroom total; Full baths located on 1st and 3rd levels; half bath on 2nd level
• Heating & cooling: Baseboard heating; Natural gas
• Interior features: Built-in features; Full, unfinished basement with interior entry and Bilco doors; Gas fireplace in the living room

What this means for you Summary

Snapshot

• This is a 1×1.0bd/1.5ba + 1×2.0bd/1.5ba units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $713 ($9k/yr) — positive. Per door: $356/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Lansingburgh Central School District (urban): math 31% / reading 35% proficiency, ranked #566 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $128k; list at $200k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,901 (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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.71% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.15%
• DSCR: 2.12
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $233,192
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
623 5th Ave	0.31mi	4/2.0 (+1)	2,200 (-3%)	8mo	$125,000	$57	70
902 3rd Ave	0.52mi	4/2.0 (+1)	2,244 (-1%)	1mo	$231,540	$103	69
782 3rd Ave	0.20mi	3/2.0	2,160 (-5%)	18mo	$200,000	$93	68
799 5th Ave	0.30mi	4/2.0 (+1)	2,112 (-7%)	6mo	$226,000	$107	65
847 5th Ave	0.41mi	4/2.0 (+1)	2,052 (-9%)	1mo	$245,000	$119	60
69 Heartt Ave	0.72mi	4/2.0 (+1)	2,300 (+2%)	3mo	$278,000	$121	56
10 Northern Dr	0.62mi	4/2.0 (+1)	2,168 (-4%)	10mo	$145,000	$67	50
617-619 1st Ave	0.28mi	4/3.0 (+1)	2,016 (-11%)	17mo	$267,500	$133	46
878 3rd Ave	0.45mi	4/2.0 (+1)	2,042 (-10%)	14mo	$165,000	$81	46
2 4th St	0.66mi	4/2.0 (+1)	2,576 (+14%)	16mo	$243,999	$95	28

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: 6.2%
• Equity multiple: 1.24×
• Total profit: $13,433
• Equity at exit: $29,806

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $71,890
• Equity at exit: $17,284

Cash invested: $55,972 (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 12182

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,424 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$400 /mo · $4,802/yr
• Insurance: −$83
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $713

Break-even live

Break-even rent $2,522

Max offer price $199,900

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
1× unit	1.0	1.5	$1,774
1× unit	2.0	1.5	$1,649
Total (2 units)			$3,424

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,711	$1.44	14d	1	0.10mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	14d	13	0.44mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	14d	1	0.71mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	14d	4	1.33mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	19d	1	1.40mi

Listing history 27 events

1. 2026-06-18
   days on market $199,900 Active 23 DOM
2. 2026-06-17
   days on market $199,900 Active 22 DOM
3. 2026-06-16
   days on market $199,900 Active 21 DOM
4. 2026-06-15
   days on market $199,900 Active 20 DOM
5. 2026-06-14
   days on market $199,900 Active 18 DOM
6. 2026-06-10
   days on market $199,900 Active 15 DOM
7. 2026-06-09
   days on market $199,900 Active 14 DOM
8. 2026-06-08
   days on market $199,900 Active 13 DOM
9. 2026-06-07
   days on market $199,900 Active 12 DOM
10. 2026-06-05
    days on market $199,900 Active 9 DOM
11. 2026-06-03
    days on market $199,900 Active 8 DOM
12. 2026-06-02
    days on market $199,900 Active 7 DOM
13. 2026-06-01
    days on market $199,900 Active 6 DOM
14. 2026-05-31
    days on market $199,900 Active 5 DOM
15. 2026-05-31
    days on market $199,900 Active 4 DOM
16. 2026-05-26
    listed $199,900 Active
17. 2022-02-09
    soldstatus $128,000
18. 2021-12-14
    status Pending 155-char remark

    Show marketing remark (155 chars)

    Unique, well maintained two family, on busline, close to shopping & schools! 2nd floor is multi-level, flood insurance is required. Very Good Condition

19. 2021-08-30
    status Pend (Under Cntr) 155-char remark

    Show marketing remark (155 chars)

    Unique, well maintained two family, on busline, close to shopping & schools! 2nd floor is multi-level, flood insurance is required. Very Good Condition

20. 2021-08-28
    price $128,000 155-char remark

    Show marketing remark (155 chars)

    Unique, well maintained two family, on busline, close to shopping & schools! 2nd floor is multi-level, flood insurance is required. Very Good Condition

21. 2021-08-16
    listed $132,500 New 155-char remark

    Show marketing remark (155 chars)

    Unique, well maintained two family, on busline, close to shopping & schools! 2nd floor is multi-level, flood insurance is required. Very Good Condition

22. 2021-02-13
    historical
23. 2021-02-13
    status Back On Market
24. 2020-12-15
    historical
25. 2020-10-11
    listed $126,000 New
26. 2005-09-09
    soldstatus $69,000
27. 1993-07-23
    soldstatus $61,795

ⓘ 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: $4,802 · $400/mo
• Projected year-2 tax: $4,802 · $400/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $41,088
• − Mortgage interest: −$11,198
• − Property taxes: −$4,802
• − Insurance: −$6,524
• − Repairs & maintenance: −$3,287
• − Management: −$3,287
• − Depreciation: −$5,815
• Taxable income: $6,175
• Est. tax owed @ 24.0%: −$1,482
• After-tax cash flow: $7,072/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: Lansingburgh Central School District
• NCES district ID: 3616740
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $44,807
• Composite: 28.19/100
• National rank: #6810
• State rank: #566 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• City population: 53,479
• Population (ZIP): 14,273

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 7% Romanian 3% Iranian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.58%
• Current HPI: 273.5758
• Rent YoY: —
• Metro: —
• 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

+223.5% since first listed

12 events — show timeline

• 2026-05-26 Listed $199,900 Global MLS
• 2022-02-09 Sold (Public Records) $128,000 Public Records
• 2021-12-14 Pending — Global MLS
• 2021-08-30 Pending — Global MLS
• 2021-08-28 Price Changed $128,000 Global MLS
• 2021-08-16 Listed $132,500 Global MLS
• 2021-02-13 Listing Removed — Global MLS
• 2021-02-13 Relisted — Global MLS
• 2020-12-15 Listing Removed — Global MLS
• 2020-10-11 Listed $126,000 Global MLS
• 2005-09-09 Sold (Public Records) $69,000 Public Records
• 1993-07-23 Sold (Public Records) $61,795 Public Records

Property tax history

+17.4%/yr

Latest (2025): $4,802 · +22.2% YoY. Source: county tax records.