306 4th · Troy, NY 12180

$285,000

7 bd · 3.0 ba · 2,289 sqft · MultiFamily public records · 22 Days on market

Built 1910 3,049 sqft lot Est $233k · 22% over

---

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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Nestled in a nice and quiet South Troy neighborhood, this property features it all. With a bi level second floor with 2 full baths and 4bedrooms, this unit would be the ideal owner occupancy unit. Enjoy addition income from 1st floor, as well as a large yard, good cash flow and separate utilities

Key facts

• Private backyard
• Steps to riverfront
• Off-street parking

Tags

• DUPLEX
• DOWNTOWN NEIGHBORHOOD
• STEPS TO RIVERFRONT
• PRIVATE BACKYARD
• OFF-STREET PARKING

Property features AI

Finance

• Financial info: 2 total units; Tenants pay hot water, heat, internet, cable TV, electricity, and gas; Owner pays trash collection, sewer, and water

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Living area approximately 2,289; Lot dimensions per deed
• Construction: Vinyl siding
• Exterior features: Flat roof; Chain link fencing; Level lot

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 4 bedrooms
• Flooring: Wood flooring; Carpet flooring
• Bathrooms: 3 full bathrooms (one on each of 1st, 2nd, and 3rd levels); Unit 1: 1 full bath; Unit 2: 2 full baths
• Heating & cooling: Forced air heating; Hot water heating
• Interior features: Interior entry basement; Unfinished basement; Wood and carpet flooring

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $564 ($7k/yr) — positive. Per door: $282/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• Recommended offer: $281k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% 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.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $3,703/mo this rent would consume 59% of the median local household income ($76k/yr) (locally 2698% 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.
• 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 + 4.9% rent growth), your $80k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $190k; list at $285k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1910 — 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 $280,725 (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 1910 — 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: 1.30% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $233,478
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 2nd St	0.22mi	7/2.0	2,500 (+9%)	3mo	$239,900	$96	68
62 Ida St	0.12mi	8/2.0 (+1)	2,484 (+8%)	7mo	$125,000	$50	65
412 2nd St	0.47mi	6/2.0 (-1)	2,256 (-1%)	2mo	$240,000	$106	65
1266 5th Ave	0.18mi	6/2.0 (-1)	2,540 (+11%)	1mo	$240,000	$94	64
448 4th St	0.40mi	6/2.0 (-1)	2,340 (+2%)	13mo	$200,000	$85	58
198 Hill St	0.27mi	6/2.0 (-1)	2,000 (-13%)	12mo	$165,000	$83	47
76 13th St	0.64mi	6/2.0 (-1)	2,332 (+2%)	15mo	$355,000	$152	46
508 2nd St	0.72mi	6/2.0 (-1)	2,244 (-2%)	11mo	$230,000	$102	45
462 1st St	0.68mi	6/2.0 (-1)	2,376 (+4%)	9mo	$319,500	$134	45
358 1st St	0.42mi	6/2.0 (-1)	2,024 (-12%)	10mo	$160,000	$79	44
82 14th St	0.67mi	8/2.0 (+1)	2,112 (-8%)	5mo	$412,000	$195	42
45 14th St	0.60mi	6/2.0 (-1)	1,968 (-14%)	11mo	$272,000	$138	31

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-2,826
• Equity at exit: $42,494

10-year hold

• IRR: 11.0%
• Equity multiple: 1.95×
• Total profit: $75,431
• Equity at exit: $24,642

Cash invested: $79,800 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $3,703 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$288 /mo · $3,451/yr
• Insurance: −$119
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$778
• Net cashflow: $564

Break-even live

Break-even rent $2,989

Max offer price $285,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$3,702
Total (2 units)			$3,703

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2326 15th St Unit 2 Troy, NY	8.0	2.5	2500	$650	$0.26	14d	1	1.34mi

Listing history 20 events

1. 2026-06-18
   days on market $285,000 Active 22 DOM
2. 2026-06-17
   days on market $285,000 Active 21 DOM
3. 2026-06-16
   days on market $285,000 Active 20 DOM
4. 2026-06-15
   days on market $285,000 Active 19 DOM
5. 2026-06-14
   pricedays on market $285,000 Active 17 DOM
6. 2026-06-13
   days on market $324,900 Active 16 DOM
7. 2026-06-10
   days on market $324,900 Active 14 DOM
8. 2026-06-09
   days on market $324,900 Active 13 DOM
9. 2026-06-08
   days on market $324,900 Active 12 DOM
10. 2026-06-07
    days on market $324,900 Active 11 DOM
11. 2026-06-03
    days on market $324,900 Active 7 DOM
12. 2026-06-02
    days on market $324,900 Active 6 DOM
13. 2026-06-01
    days on market $324,900 Active 5 DOM
14. 2026-05-31
    days on market $324,900 Active 4 DOM
15. 2026-05-31
    days on market $324,900 Active 3 DOM
16. 2026-05-27
    listed $324,900 Active
17. 2024-08-28
    soldstatus $190,000
18. 2024-08-22
    soldstatus $190,000 Closed 298-char remark

    Show marketing remark (298 chars)

    Nestled in a nice and quiet South Troy neighborhood, this property features it all. With a bi level second floor with 2 full baths and 4bedrooms, this unit would be the ideal owner occupancy unit. Enjoy addition income from 1st floor, as well as a large yard, good cash flow and separate utilities

19. 2024-07-10
    status Pending 298-char remark

    Show marketing remark (298 chars)

    Nestled in a nice and quiet South Troy neighborhood, this property features it all. With a bi level second floor with 2 full baths and 4bedrooms, this unit would be the ideal owner occupancy unit. Enjoy addition income from 1st floor, as well as a large yard, good cash flow and separate utilities

20. 2024-06-26
    listed $189,900 Active 298-char remark

    Show marketing remark (298 chars)

    Nestled in a nice and quiet South Troy neighborhood, this property features it all. With a bi level second floor with 2 full baths and 4bedrooms, this unit would be the ideal owner occupancy unit. Enjoy addition income from 1st floor, as well as a large yard, good cash flow and separate utilities

ⓘ 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: $3,451 · $288/mo
• Projected year-2 tax: $4,134 · $344/mo
• Expected delta: +$683/yr (+$57/mo · 19.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% 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: $44,436
• − Mortgage interest: −$15,964
• − Property taxes: −$3,451
• − Insurance: −$6,950
• − Repairs & maintenance: −$3,555
• − Management: −$3,555
• − Depreciation: −$8,291
• Taxable income: $2,670
• Est. tax owed @ 24.0%: −$641
• After-tax cash flow: $6,128/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 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
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

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 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

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: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+71.1% since first listed

5 events — show timeline

• 2026-05-27 Listed $324,900 Global MLS
• 2024-08-28 Sold (Public Records) $190,000 Public Records
• 2024-08-22 Sold (MLS) $190,000 Global MLS
• 2024-07-10 Pending — Global MLS
• 2024-06-26 Listed $189,900 Global MLS

Property tax history

+20.9%/yr

Latest (2025): $3,451 · +64.2% YoY. Source: county tax records.