Is 2 Livingston Ave in Schenectady, NY a good investment?

CashFlowRE grades it D- with a 4.7% cap rate and $-529/mo modeled cash flow at a $399,900 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 2 Livingston Ave?

The modeled cap rate is 4.7% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,828/month, from CashFlowRE's rent model.

D- Composite 38.14

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).

ARV discount +12.1/15.0
Cash flow +7.3/30.0
Condition / age +4.8/5.0
Schools +4.0/10.0
Livability +3.9/5.0
Rent growth +2.5/5.0
1% rule +2.1/10.0
DSCR +1.5/10.0
Appreciation +0.0/10.0

$399,900

2 Livingston Ave · Schenectady, NY 12302

3 bd · 2.0 ba · 2,600 sqft · SingleFamily · 78 Days on market

Excellent condition 5,227 sqft lot Garage $154/sqft · 10% below area Est $446k · 10% under ↓ 18% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to an exclusive six-home subdivision in the Village of Scotia. This thoughtfully designed to-be-built home offers modern living, quality craftsmanship, and the opportunity to personalize select finishes and upgrades to suit your style. Offering approximately 2,600 square feet of living space plus a 400 sq. ft. heated garage, this home features 3 bedrooms and 2 full bathrooms, including a private primary suite with its own en-suite bath. The open-concept upper level is designed for comfortable everyday living and entertaining, with luxury vinyl flooring throughout, recessed lighting, and a sliding glass door leading to a Trex deck.

Key facts

Sliding glass door
To-be-built home
Trex deck

What this means for you Summary

Snapshot

This is a 3-bed/2.0-bath single-family listed at $400k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-529 ($-6k/yr) — negative.
To cash-flow at today's rent, offer at most $323k (19.2% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (29.3% below list).
Recommended offer: $283k (29.3% below list) — sets the bar for 1% rule.

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: Paige Elementary School (math 17% / reading 27%, grade F, #1,923 of 2,108 statewide, top 92%, 420 students, 69% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
Market conditions: 266 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
This rent runs 35% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 78 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
3 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.

Recommended offer $282,831 (29.3% below list)

Questions for the listing agent

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?
It's been on market 78 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 0.71% ✗
Cap rate: 4.70%
Cash-on-cash: -5.67%
DSCR: 0.75
GRM: 11.8

CMA / ARV

ARV (median comp): $445,822
List price: $399,900
Delta: -10.30%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2321 Central Pkwy	0.28mi	4/2.5 (+1)	2,510 (-4%)	2mo	$460,000	$183	73
2133 Central Pkwy	0.02mi	4/3.0 (+1)	2,476 (-5%)	15mo	$271,680	$110	69
805 Karenwald Ln	0.13mi	4/2.5 (+1)	2,794 (+8%)	11mo	$439,000	$157	65
917 Londonderry Ct	0.41mi	3/3.0	2,416 (-7%)	2mo	$440,000	$182	64
2171 Grand Blvd	0.63mi	3/2.0	2,552 (-2%)	5mo	$402,500	$158	63
834 Jamaica Rd	0.31mi	4/2.0 (+1)	2,403 (-8%)	7mo	$452,000	$188	62
818 Oregon Ave	0.46mi	4/1.5 (+1)	2,422 (-7%)	6mo	$449,999	$186	55
24 Ray St	0.36mi	3/1.5	2,302 (-12%)	14mo	$390,000	$169	50
1051 Van Antwerp Rd	0.33mi	4/1.5 (+1)	2,250 (-14%)	10mo	$325,000	$144	47
875 Central Parkway Pkwy	0.51mi	4/2.0 (+1)	2,400 (-8%)	22mo	$319,900	$133	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 · 3.0% rent growth · sell at horizon

5-year hold

IRR: -26.0%
Equity multiple: 0.12×
Total profit: $-98,467
Equity at exit: $59,626

10-year hold

IRR: -22.7%
Equity multiple: -0.15×
Total profit: $-128,975
Equity at exit: $34,576

Cash invested: $111,972 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 10 active · 18 under contract
Months of supply: 4.0 mo (25%/mo absorbed)
Median asking: $399,900 ($154/sqft)
Median days on market: 78 d
This list price: 30% of active listings are priced below it
ARV vs active asking: +11.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12302

Active inventory: 266
Price-to-rent: 11.8×

Monthly cashflow live

Estimated rent: $2,828 medium interval (Pro) →
Mortgage (P&I): −$2,097
Tax est. 1.5%: −$500 /mo · $5,998/yr
Insurance: −$167
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$594
Net cashflow: $-529

Break-even live

Break-even rent $3,498

Max offer price $323,316

Occupancy floor —

Sensitivity live

Price	-10% $-253	-5% $-391	+0% $-529	+5% $-667	+10% $-806
Rent	-10% $-753	-5% $-641	+0% $-529	+5% $-418	+10% $-306
Rate	-1.0pp $-328	-0.5pp $-428	base $-529	+0.5pp $-633	+1.0pp $-738

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: $99,975
Closing costs: $11,997
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,200	$1.46	6d	1	0.83mi
1425 State St Unit 2 Schenectady, NY	3.0	1.0	1800	$1,999	$1.11	0d	1	0.94mi
Hilltop Rd Schenectady, NY	4.0	2.5	2300	$4,000	$1.74	6d	1	1.07mi

Property features AI

Finance

Other: Cleared lot

Exterior

Parking: Attached heated garage with garage door openerTotal of 3 parking spaces (including driveway and off-street parking)
Utilities: Public waterPublic sewer
Home design: Single family residenceNew constructionSlab foundationAsphalt roof
Construction: Vinyl sidingBuilt as new construction
Exterior features: DeckFront porchExterior lighting

Interior

Kitchen: RangeMicrowaveDishwasher
Bedrooms: Primary bedroom on second levelTwo additional bedrooms on second level
Flooring: Vinyl
Bathrooms: Two full bathrooms on second levelPrimary bathroom on second level
Heating & cooling: Forced air heatingCentral air conditioning
Interior features: Paddle fanSliding doors
Laundry & utility: Laundry room on upper level

Listing history 50 events

2026-09-24

days on market $399,900 Active 78 DOM
2026-09-23

days on market $399,900 Active 77 DOM
2026-09-22

days on market $399,900 Active 76 DOM
2026-09-21

days on market $399,900 Active 75 DOM
2026-09-20

days on market $399,900 Active 74 DOM
2026-09-19

days on market $399,900 Active 73 DOM
2026-09-18

days on market $399,900 Active 72 DOM
2026-09-17

days on market $399,900 Active 71 DOM
2026-09-16

days on market $399,900 Active 70 DOM
2026-09-15

days on market $399,900 Active 69 DOM
2026-09-14

days on market $399,900 Active 68 DOM
2026-09-13

days on market $399,900 Active 67 DOM
2026-09-12

days on market $399,900 Active 66 DOM
2026-09-11

days on market $399,900 Active 65 DOM
2026-09-05

days on market $399,900 Active 59 DOM
2026-09-04

days on market $399,900 Active 58 DOM
2026-09-03

days on market $399,900 Active 57 DOM
2026-08-31

days on market $399,900 Active 54 DOM
2026-08-30

days on market $399,900 Active 53 DOM
2026-08-29

days on market $399,900 Active 52 DOM
2026-08-28

days on market $399,900 Active 51 DOM
2026-08-27

days on market $399,900 Active 50 DOM
2026-08-25

days on market $399,900 Active 48 DOM
2026-08-24

days on market $399,900 Active 47 DOM
2026-08-23

days on market $399,900 Active 46 DOM
2026-08-22

days on market $399,900 Active 45 DOM
2026-08-21

days on market $399,900 Active 44 DOM
2026-08-20

days on market $399,900 Active 43 DOM
2026-08-19

days on market $399,900 Active 42 DOM
2026-08-18

days on market $399,900 Active 41 DOM
2026-08-17

days on market $399,900 Active 40 DOM
2026-08-16

days on market $399,900 Active 39 DOM
2026-08-15

days on market $399,900 Active 38 DOM
2026-08-14

days on market $399,900 Active 37 DOM
2026-08-13

days on market $399,900 Active 36 DOM
2026-08-12

days on market $399,900 Active 35 DOM
2026-08-11

days on market $399,900 Active 34 DOM
2026-08-10

days on market $399,900 Active 33 DOM
2026-08-09

days on market $399,900 Active 32 DOM
2026-08-08

days on market $399,900 Active 31 DOM
2026-08-07

days on market $399,900 Active 30 DOM
2026-08-06

days on market $399,900 Active 29 DOM
2026-08-05

days on market $399,900 Active 28 DOM
2026-08-04

days on market $399,900 Active 27 DOM
2026-08-03

days on market $399,900 Active 26 DOM
2026-07-31

days on market $399,900 Active 23 DOM
2026-07-30

days on market $399,900 Active 22 DOM
2026-07-29

days on market $399,900 Active 21 DOM
2026-07-27

days on market $399,900 Active 19 DOM
2026-07-25

days on market $399,900 Active 17 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $33,940
− Mortgage interest: −$22,401
− Property taxes: −$5,998
− Insurance: −$2,000
− Repairs & maintenance: −$2,715
− Management: −$2,715
− Depreciation: −$11,633
Taxable loss: −$13,523

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$3,245
After-tax cash flow: $-3,106/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This multi-family home is in excellent condition with modern finishes and a well-maintained exterior. It is ready for immediate occupancy and can be easily enhanced with some landscaping and painting to further boost its value.

Value-add opportunities

Resale Landscaping — enhances curb appeal and adds value ↑
Resale Painting — fresh paint can make a home more appealing ↑
Rental Landscaping — improves curb appeal and attracts tenants ↑

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Paige Elementary School F NY #1,923/2,108 Nat'l #32,000/41,679 Middle Mont Pleasant Middle School F NY #704/729 Nat'l #12,693/14,009 High Schenectady High School A NY #446/1,100 Nat'l #889/17,239

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

B Composite livability gradescore 78/100

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 · 155,046 people
City population: 141,369
Metro: Albany-Schenectady-Troy, NY
Population (ZIP): 28,031
Household income: $98,163
Rent vs Own: 24.2% rent · 75.8% own
Severe rent burden: 5% of renters

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 (90%)
Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 2%
Common ancestry: Romanian 9% Lithuanian 4% Italian 3%
Foreign-born: 4% · Canada, China
Languages at home: 94% English-only · Spanish 2% Chinese 1% Other Indo-European 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: ▼ -274.86%
Current HPI: 304.1765
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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

-18.2% since first listed

10 events — show timeline

2026-07-08 Listed $399,900 Global MLS
2026-07-01 Listing Removed — Global MLS
2026-06-25 Price Changed $399,900 Global MLS
2026-06-22 Price Changed $445,000 Global MLS
2026-05-27 Price Changed $449,900 Global MLS
2026-05-22 Price Changed $459,900 Global MLS
2026-05-07 Price Changed $465,000 Global MLS
2026-03-25 Listed $489,000 Global MLS
2024-08-20 Rental Removed $995 APPFOLIO
2024-06-07 Listed for Rent $895 APPFOLIO

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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