102 Degraff St · Schenectady, NY 12308

$179,000

6 bd · 2.0 ba · 1,936 sqft · MultiFamily public records · 91 Days on market

Built 1910 2,613 sqft lot Est $236k · 24% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 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

Well maintained two family in the heart of Schenectady, close to Downtown, Rivers Casino, Union College and Central Park, owner occupied for 40+ years. 3 bedrooms on the first floor and 4 bedrooms on the second floor, fenced yard, patio and detached garage. Modern furnaces and hot water heaters. Tiled baths and hardwood floors throughout, some under wall to wall. Come take a look! Agent is seller. Very Good Condition

Key facts

• Tiled bath
• Fenced-in backyard
• Hardwood floors

Tags

• FENCED-IN BACKYARD
• DETACHED GARAGE
• TILED BATH
• HARDWOOD FLOORS

Property features AI

Finance

• Financial info: Two-unit property; Tenants pay trash collection, sewer, water, cable TV, electricity and gas

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Below-grade finished area included
• Construction: Shingle siding; Asphalt roof
• Exterior features: Chain link fencing; Level lot

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 4 bedrooms
• Flooring: Carpet; Ceramic tile; Hardwood; Linoleum
• Bathrooms: 2 full bathrooms (one on first level, one on second level)
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Bilco door basement access; Full basement; Carpet, ceramic tile, hardwood and linoleum flooring
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 1×4bd/1.0ba units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $584/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $163k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 6.3% in Schenectady — 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 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: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 78 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 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 $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $100k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; list at $179k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.85% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.96%
• DSCR: 2.24
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $236,192
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Paulding St	0.12mi	6/2.0	2,078 (+7%)	5mo	$205,000	$99	78
117 Prospect St	0.06mi	6/2.0	2,058 (+6%)	13mo	$272,500	$132	76
762 Eastern Ave	0.09mi	6/2.0	2,205 (+14%)	3mo	$269,900	$122	70
12 Paulding St	0.12mi	5/2.0 (-1)	2,112 (+9%)	11mo	$190,000	$90	65
1540 Foster Ave	0.65mi	6/2.0	2,024 (+4%)	7mo	$214,650	$106	56
634 Hamilton St	0.69mi	5/2.0 (-1)	2,024 (+4%)	0mo	$210,000	$104	55
1 Swan St	0.65mi	6/2.0	1,792 (-7%)	6mo	$237,710	$133	52
20 Hawk St	0.50mi	6/2.0	2,142 (+11%)	11mo	$285,000	$133	50
515 South Ave	0.57mi	5/3.0 (-1)	2,070 (+7%)	6mo	$172,000	$83	48
22 Hawk St	0.49mi	6/2.0	2,142 (+11%)	15mo	$340,000	$159	47
1588 Foster Ave	0.73mi	6/2.0	2,200 (+14%)	6mo	$315,000	$143	39
60 Waldorf Pl	0.65mi	6/2.0	2,200 (+14%)	20mo	$159,000	$72	30

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: 22.2%
• Equity multiple: 1.91×
• Total profit: $45,542
• Equity at exit: $26,689

10-year hold

• IRR: 30.2%
• Equity multiple: 3.72×
• Total profit: $136,141
• Equity at exit: $15,477

Cash invested: $50,120 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 78
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,307 high
• Mortgage (P&I): −$939
• Tax from tax record: −$432 /mo · $5,179/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$694
• Net cashflow: $1,168

Break-even live

Break-even rent $1,829

Max offer price $179,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,551
1× unit	4	1	$1,756
Total (2 units)			$3,307

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $179,000 Active 91 DOM
2. 2026-06-17
   days on market $179,000 Active 90 DOM
3. 2026-06-16
   days on market $179,000 Active 89 DOM
4. 2026-06-15
   days on market $179,000 Active 88 DOM
5. 2026-06-14
   days on market $179,000 Active 86 DOM
6. 2026-06-13
   statusdays on market $179,000 Active 85 DOM
7. 2026-05-17
   status Active
8. 2026-05-14
   price $179,000
9. 2026-02-24
   status Pending
10. 2026-01-28
    price $199,000
11. 2026-01-23
    price $224,900
12. 2026-01-05
    price $239,000
13. 2025-12-28
    price $259,000
14. 2025-12-22
    price $269,000
15. 2025-12-08
    listed $279,000 Active
16. 2020-01-17
    soldstatus $82,000
17. 2020-01-08
    soldstatus $82,000 Closed (Final Sale) 420-char remark

    Show marketing remark (420 chars)

    Well maintained two family in the heart of Schenectady, close to Downtown, Rivers Casino, Union College and Central Park, owner occupied for 40+ years. 3 bedrooms on the first floor and 4 bedrooms on the second floor, fenced yard, patio and detached garage. Modern furnaces and hot water heaters. Tiled baths and hardwood floors throughout, some under wall to wall. Come take a look! Agent is seller. Very Good Condition

18. 2019-10-26
    status Pend (Under Cntr) 420-char remark

    Show marketing remark (420 chars)

    Well maintained two family in the heart of Schenectady, close to Downtown, Rivers Casino, Union College and Central Park, owner occupied for 40+ years. 3 bedrooms on the first floor and 4 bedrooms on the second floor, fenced yard, patio and detached garage. Modern furnaces and hot water heaters. Tiled baths and hardwood floors throughout, some under wall to wall. Come take a look! Agent is seller. Very Good Condition

19. 2019-10-21
    listed $55,000 New 420-char remark

    Show marketing remark (420 chars)

    Well maintained two family in the heart of Schenectady, close to Downtown, Rivers Casino, Union College and Central Park, owner occupied for 40+ years. 3 bedrooms on the first floor and 4 bedrooms on the second floor, fenced yard, patio and detached garage. Modern furnaces and hot water heaters. Tiled baths and hardwood floors throughout, some under wall to wall. Come take a look! Agent is seller. Very Good Condition

ⓘ 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: $5,179 · $432/mo
• Projected year-2 tax: $5,179 · $432/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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $39,684
• − Mortgage interest: −$10,027
• − Property taxes: −$5,179
• − Insurance: −$895
• − Repairs & maintenance: −$3,175
• − Management: −$3,175
• − Depreciation: −$5,207
• Taxable income: $12,027
• Est. tax owed @ 24.0%: −$2,886
• After-tax cash flow: $11,126/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: 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

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 · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• 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
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+225.5% since first listed

13 events — show timeline

• 2026-05-17 Relisted — Global MLS
• 2026-05-14 Price Changed $179,000 Global MLS
• 2026-02-24 Pending — Global MLS
• 2026-01-28 Price Changed $199,000 Global MLS
• 2026-01-23 Price Changed $224,900 Global MLS
• 2026-01-05 Price Changed $239,000 Global MLS
• 2025-12-28 Price Changed $259,000 Global MLS
• 2025-12-22 Price Changed $269,000 Global MLS
• 2025-12-08 Listed $279,000 Global MLS
• 2020-01-17 Sold (Public Records) $82,000 Public Records
• 2020-01-08 Sold (MLS) $82,000 Global MLS
• 2019-10-26 Pending — Global MLS
• 2019-10-21 Listed $55,000 Global MLS

Property tax history

+5.5%/yr

Latest (2025): $5,179 · +9.8% YoY. Source: county tax records.