46 Church St · Nassau, NY 12123

$259,000

3 bd · 1.5 ba · 1,920 sqft · SingleFamily public records · 223 Days on market

Built 1827 0.66 ac lot $135/sqft · 23% below area Est $336k · 23% under

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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 +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.1/10.0
• Cash flow +5.7/30.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

Key facts

• Covered porch
• Laundry room
• Eat-in kitchen

Tags

• MULTI-FAMILY HOME
• EAT-IN KITCHEN
• LAUNDRY ROOM
• COVERED PORCH
• ENCLOSED GLASS PORCH
• STREAM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $-589 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (40.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (32.7% below list).
• Recommended offer: $155k (40.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#570 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A-; Watch: amenities F, commute F, health & safety D-.
• East Greenbush Central School District (suburban): math 68% / reading 71% proficiency, ranked #132 of 590 in NY (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Donald P Sutherland School (math 47% / reading 72%, grade B-, #745 of 2,108 statewide, top 39%, 232 students, 33% FRL); Howard L Goff School (math 61% / reading 73%, grade A-, #101 of 729 statewide, top 15%, 978 students, 28% FRL); Columbia High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,252 students, 27% FRL).
• Market conditions: 25 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $70k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $259k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1827 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,968 (40.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1827 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
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 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: 0.67% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.83%
• DSCR: 0.61
• GRM: 12.4

CMA / ARV

• ARV (median comp): $335,985
• List price: $259,000
• Delta: -22.91%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Elm St	0.26mi	3/1.5	1,914 (-0%)	7mo	$222,400	$116	82
30 Elm St	0.34mi	3/1.5	1,860 (-3%)	2mo	$230,000	$124	78
34 Elm St	0.36mi	3/2.0	2,072 (+8%)	11mo	$330,000	$159	59
25 Albany Ave	0.38mi	4/2.0 (+1)	2,079 (+8%)	8mo	$120,000	$58	55
54 New Rd	0.74mi	4/2.5 (+1)	2,016 (+5%)	13mo	$495,000	$246	37

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: 17.5%
• Equity multiple: 2.43×
• Total profit: $103,685
• Equity at exit: $233,328

10-year hold

• IRR: 16.5%
• Equity multiple: 5.62×
• Total profit: $335,096
• Equity at exit: $503,180

Cash invested: $72,520 (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 12123

• Home prices YoY: 8.8%
• Active inventory: 25
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $1,742 medium
• Mortgage (P&I): −$1,358
• Tax from tax record: −$443 /mo · $5,319/yr
• Insurance: −$108
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-589

Break-even live

Break-even rent $2,487

Max offer price $154,968

Occupancy floor —

Sensitivity live

Price	-10% $-442	-5% $-516	+0% $-589	+5% $-662	+10% $-736
Rent	-10% $-727	-5% $-658	+0% $-589	+5% $-520	+10% $-451
Rate	-1.0pp $-458	-0.5pp $-523	base $-589	+0.5pp $-656	+1.0pp $-724

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $259,000 Active 223 DOM
2. 2026-06-18
   days on market $259,000 Active 220 DOM
3. 2026-06-17
   days on market $259,000 Active 219 DOM
4. 2026-06-16
   days on market $259,000 Active 218 DOM
5. 2026-06-15
   days on market $259,000 Active 217 DOM
6. 2026-06-14
   days on market $259,000 Active 215 DOM
7. 2026-06-10
   days on market $259,000 Active 212 DOM
8. 2026-06-09
   days on market $259,000 Active 211 DOM
9. 2026-06-08
   days on market $259,000 Active 210 DOM
10. 2026-06-07
    days on market $259,000 Active 209 DOM
11. 2026-06-05
    days on market $259,000 Active 206 DOM
12. 2026-06-03
    days on market $259,000 Active 205 DOM
13. 2026-06-02
    days on market $259,000 Active 204 DOM
14. 2026-06-01
    days on market $259,000 Active 203 DOM
15. 2026-05-31
    days on market $259,000 Active 202 DOM
16. 2026-05-31
    days on market $259,000 Active 201 DOM
17. 2026-03-25
    price $259,000 673-char remark

    Show marketing remark (673 chars)

    Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

18. 2026-03-25
    price $259,000 673-char remark

    Show marketing remark (673 chars)

    Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

19. 2026-01-07
    price $279,000 673-char remark

    Show marketing remark (673 chars)

    Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

20. 2026-01-07
    price $279,000 673-char remark

    Show marketing remark (673 chars)

    Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

21. 2025-11-10
    listed $329,000 Active 673-char remark

    Show marketing remark (673 chars)

    Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

22. 2025-11-10
    listed $329,000 Active 673-char remark

    Show marketing remark (673 chars)

    Welcome to this well maintained multi-family home in the heart of Nassau, NY! Each spacious 1-bedroom, 1-bath apartment offers comfortable living with a mix of hardwood, carpet and linoleum flooring. Enjoy an eat-in kitchen, generous closet space, and a convenient laundry room with washer/dryer hook-up. Relax on the covered porch upstairs or the enclosed glass porch downstairs while taking in the peaceful view of the stream running along the back of the property. Additional highlights include 2-car garage, storage sheds, new water heater, and all-electric heat. Conveniently located near town and shopping - a great opportunity for investors or owner-occupants alike!

23. 2016-06-29
    soldstatus $105,000
24. 2016-06-24
    soldstatus $105,000
25. 2016-04-29
    listed $119,000
26. 2003-12-23
    soldstatus $78,000

ⓘ 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: $5,319 · $443/mo
• Projected year-2 tax: $5,319 · $443/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,902
• − Mortgage interest: −$14,508
• − Property taxes: −$5,319
• − Insurance: −$1,962
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$7,535
• Taxable loss: −$11,766
• Est. tax savings @ 24.0%: +$2,824
• After-tax cash flow: $-4,243/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: East Greenbush Central School District
• NCES district ID: 3609630
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 71% ▲ 2.00%
• Median HH income: $73,174
• Composite: 61.16/100
• National rank: #783
• State rank: #132 of 590 in NY

Livability — Nassau

• Score: 67/100
• State rank: #570
• US rank: #10274

Category grades

Amenities F Commute F Cost of living B Crime A Employment A- Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nassau, NY
• City population: 4,853
• Population (ZIP): 4,853

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Lithuanian 7% Iranian 5%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 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: ▲ 23.93%
• Current HPI: 296.9494
• 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

+232.1% since first listed

10 events — show timeline

• 2026-03-25 Price Changed $259,000 HVCRMLS
• 2026-03-25 Price Changed $259,000 HVCRMLS
• 2026-01-07 Price Changed $279,000 HVCRMLS
• 2026-01-07 Price Changed $279,000 HVCRMLS
• 2025-11-10 Listed $329,000 HVCRMLS
• 2025-11-10 Listed $329,000 HVCRMLS
• 2016-06-29 Sold (Public Records) $105,000 Public Records
• 2016-06-24 Sold (MLS) $105,000 HVCRMLS
• 2016-04-29 Listed $119,000 HVCRMLS
• 2003-12-23 Sold (Public Records) $78,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $5,319 · +4.9% YoY. Source: county tax records.