885 Emmett St · Schenectady, NY 12307

$184,900

5 bd · 2.0 ba · 1,683 sqft · MultiFamily public records · 5 Days on market

Built 1900 4,791 sqft lot Est $224k · 17% under

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Why this score? — see what drove the A 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
• Appreciation +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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

UPDATED FIRST FLOOR APARTMENT, GENEROUS KITCHENS AND BATHS. THREE-CAR GARAGE, DECKS UP AND DOWN, PORCH IN FRONT. Fair Condition

Key facts

• Near dining
• Near shopping
• Major roadways

Tags

• TWO-FAMILY HOME
• CONVENIENT LOCATION
• NEAR SHOPPING
• NEAR DINING
• MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive. Per door: $437/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 12.0% 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: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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 $10k; list at $185k implies a 1749% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,900

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 1900 — 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. 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.
7. 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.
8. 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: 1.54% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.27%
• DSCR: 1.90
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $223,839
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Mynderse St	0.36mi	4/2.0 (-1)	1,686 (+0%)	1mo	$140,000	$83	77
348 Duane Ave	0.19mi	5/2.0	1,728 (+3%)	15mo	$190,000	$110	74
1 Swan St	0.13mi	6/2.0 (+1)	1,792 (+6%)	6mo	$237,710	$133	73
1007 Strong St	0.19mi	4/2.0 (-1)	1,600 (-5%)	12mo	$181,000	$113	67
37 Swan St	0.31mi	4/2.0 (-1)	1,768 (+5%)	6mo	$240,000	$136	67
35 Swan St	0.30mi	4/2.0 (-1)	1,548 (-8%)	5mo	$2,570	$2	63
1156-1158 Hilderbrandt Ave	0.23mi	4/2.0 (-1)	1,768 (+5%)	17mo	$20,000	$11	62
11 Jackson Pl	0.72mi	6/2.0 (+1)	1,626 (-3%)	2mo	$235,000	$145	54
910 Pennsylvania Ave	0.70mi	6/3.0 (+1)	1,700 (+1%)	6mo	$325,000	$191	52
838 Holland Rd	0.59mi	4/2.0 (-1)	1,734 (+3%)	15mo	$230,000	$133	50
112 Porter St	0.63mi	4/2.0 (-1)	1,556 (-8%)	12mo	$255,000	$164	43
892 Maplewood Ave	0.70mi	4/2.0 (-1)	1,510 (-10%)	11mo	$200,000	$132	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.4%
• Equity multiple: 4.02×
• Total profit: $156,496
• Equity at exit: $166,573

10-year hold

• IRR: 34.0%
• Equity multiple: 9.06×
• Total profit: $417,269
• Equity at exit: $359,220

Cash invested: $51,772 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 33
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,852 high
• Mortgage (P&I): −$970
• Tax from tax record: −$332 /mo · $3,984/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $874

Break-even live

Break-even rent $1,745

Max offer price $184,900

Occupancy floor 64%

Sensitivity live

Price	-10% $979	-5% $927	+0% $874	+5% $822	+10% $770
Rent	-10% $649	-5% $762	+0% $874	+5% $987	+10% $1,100
Rate	-1.0pp $967	-0.5pp $921	base $874	+0.5pp $826	+1.0pp $778

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,852
Total (2 units)			$2,852

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	44d	1	0.94mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	14d	9	1.11mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	44d	1	1.24mi

Listing history 4 events

1. 2026-03-17
   status Pending
2. 2026-03-10
   listed $184,900 Active
3. 2000-10-30
   soldstatus $10,000 127-char remark

   Show marketing remark (127 chars)

   UPDATED FIRST FLOOR APARTMENT, GENEROUS KITCHENS AND BATHS. THREE-CAR GARAGE, DECKS UP AND DOWN, PORCH IN FRONT. Fair Condition

4. 2000-09-06
   listed $12,500 127-char remark

   Show marketing remark (127 chars)

   UPDATED FIRST FLOOR APARTMENT, GENEROUS KITCHENS AND BATHS. THREE-CAR GARAGE, DECKS UP AND DOWN, PORCH IN FRONT. Fair 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: $3,984 · $332/mo
• Projected year-2 tax: $3,984 · $332/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 2/10 Low 4% 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: $34,224
• − Mortgage interest: −$10,357
• − Property taxes: −$3,984
• − Insurance: −$924
• − Repairs & maintenance: −$2,738
• − Management: −$2,738
• − Depreciation: −$5,379
• Taxable income: $8,103
• Est. tax owed @ 24.0%: −$1,945
• After-tax cash flow: $8,548/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
• City population: 141,369
• Population (ZIP): 7,977

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: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 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: ▲ 12.60%
• Current HPI: 398.0252
• 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

+1379.2% since first listed

4 events — show timeline

• 2026-03-17 Pending — Global MLS
• 2026-03-10 Listed $184,900 Global MLS
• 2000-10-30 Sold (MLS) $10,000 Global MLS
• 2000-09-06 Listed $12,500 Global MLS

Property tax history

+1.9%/yr

Latest (2025): $3,984 · +6.3% YoY. Source: county tax records.