57 O Connell St · Albany, NY 12209

$70,000

3 bd · 1.5 ba · 1,584 sqft · Townhouse public records · 36 Days on market

Built 1901 2,613 sqft lot $44/sqft · 67% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a short sale, offers require approval from the lender. Property needs considerable repairs and is being sold as-is. This property presents a great opportunity for an experienced investor or contractor. Cash only. 3 large bedrooms and 2 full baths. Fenced-in back yard. Street parking.

Key facts

• 2,613 sq ft lot
• Built 1901
• Listed 36 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.0% vs local median 5.7% in Albany — 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 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 47 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 32 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.96% ✓
• Cap rate: 26.05%
• Cash-on-cash: 70.56%
• DSCR: 4.14
• GRM: 2.8

CMA / ARV

• ARV (median comp): $210,160
• List price: $70,000
• Delta: -66.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Garland Ct	0.63mi	4/1.5 (+1)	1,720 (+9%)	19mo	$204,400	$119	36

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: 70.1%
• Equity multiple: 4.17×
• Total profit: $62,088
• Equity at exit: $10,437

10-year hold

• IRR: 74.2%
• Equity multiple: 8.59×
• Total profit: $148,705
• Equity at exit: $6,052

Cash invested: $19,600 (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 12209

• Home prices YoY: -7.3%
• Active inventory: 47
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,071 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $1,152

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,201	-5% $1,177	+0% $1,152	+5% $1,128	+10% $1,104
Rent	-10% $989	-5% $1,071	+0% $1,152	+5% $1,234	+10% $1,316
Rate	-1.0pp $1,188	-0.5pp $1,170	base $1,152	+0.5pp $1,134	+1.0pp $1,116

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Hurlbut St Albany, NY	3.0	1.0	1209	$2,050	$1.70	45d	1	0.16mi
31 Bertha St Albany, NY	4.0	1.0	1116	$2,000	$1.79	25d	1	0.19mi
15 Stanwix St Albany, NY	4.0	1.5	1660	$2,500	$1.51	16d	1	0.33mi
86 Hackett Blvd Albany, NY	2.0	1.0	1100	$1,900	$1.73	25d	1	0.43mi
502 Second Ave #3 Albany, NY	3.0	1.0	1100	$1,800	$1.64	45d	1	0.49mi
50 Southern Blvd Albany, NY	3.0	1.0	1200	$1,650	$1.38	16d	1	0.55mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	45d	1	0.66mi
98 Mount Hope Dr Albany, NY	2.0	1.5	1200	$2,000	$1.67	16d	1	0.73mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	23d	1	0.78mi
475 S Pearl St #3 Albany, NY	4.0	2.0	1200	$1,850	$1.54	16d	1	0.78mi
364 Madison Ave Albany, NY	2.0	2.0	1150	$1,850	$1.61	23d	1	0.84mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	45d	1	0.84mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	25d	1	0.84mi
25 Bleecker Pl #1 Albany, NY	2.0	1.0	1150	$1,350	$1.17	46d	1	0.85mi
409 Madison Ave Albany, NY	2.0	2.0	1050	$2,094	$1.99	25d	1	0.88mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	45d	1	0.91mi
292 Lark St Albany, NY	2.0	1.0	1100	$1,500	$1.36	45d	1	0.91mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	45d	1	0.92mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	16d	10	0.94mi
164 Madison Ave Albany, NY	2.0	1.0	1200	$1,500	$1.25	45d	1	0.97mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	23d	1	1.00mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	25d	1	1.02mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	45d	1	1.02mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	45d	1	1.04mi
154 Lancaster St Unit 1 Albany, NY	2.0	1.5	1500	$2,200	$1.47	25d	1	1.04mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	25d	1	1.05mi
352 State St Albany, NY	2.0	2.0	1143	$2,500	$2.19	25d	1	1.15mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	45d	1	1.20mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	45d	1	1.24mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	1.31mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	16d	1	1.31mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	1.32mi
257 Quail St Albany, NY	4.0	2.5	2208	$2,800	$1.27	45d	1	1.33mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	25d	1	1.36mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	23d	1	1.37mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	16d	17	1.38mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	45d	1	1.39mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	16d	1	1.39mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	16d	1	1.40mi
30 Cardinal Ave Albany, NY	4.0	1.0	1529	$2,800	$1.83	46d	1	1.42mi

Listing history 50 events

1. 2026-05-14
   status Pending 292-char remark

   Show marketing remark (292 chars)

   This is a short sale, offers require approval from the lender. Property needs considerable repairs and is being sold as-is. This property presents a great opportunity for an experienced investor or contractor. Cash only. 3 large bedrooms and 2 full baths. Fenced-in back yard. Street parking.

2. 2026-04-08
   listed $70,000 Active 292-char remark

   Show marketing remark (292 chars)

   This is a short sale, offers require approval from the lender. Property needs considerable repairs and is being sold as-is. This property presents a great opportunity for an experienced investor or contractor. Cash only. 3 large bedrooms and 2 full baths. Fenced-in back yard. Street parking.

3. 2026-03-11
   status Active
4. 2026-02-20
   status Pending
5. 2026-01-13
   historical Contingent
6. 2026-01-13
   historical
7. 2025-12-29
   price $70,000
8. 2025-12-26
   listed $155,000 Active
9. 2025-11-22
   historical
10. 2025-10-13
    price $154,900
11. 2025-09-25
    listed $139,900 Active
12. 2025-09-24
    historical
13. 2025-08-27
    listed $145,000 Active
14. 2025-07-24
    historical
15. 2025-06-23
    listed $167,000 Active
16. 2025-06-04
    status Pending
17. 2025-05-27
    historical
18. 2025-05-18
    listed $165,000 Active
19. 2025-04-21
    status Active
20. 2025-04-10
    status Pending
21. 2025-04-10
    historical
22. 2025-03-21
    price $165,000
23. 2025-03-14
    historical $1,900
24. 2025-02-19
    listed $150,000 Active
25. 2024-11-01
    historical
26. 2024-10-23
    listed $167,000 Active
27. 2024-10-04
    listed $1,900
28. 2024-08-19
    historical $1,900
29. 2024-08-14
    historical
30. 2024-08-09
    price $157,000
31. 2024-07-14
    listed $1,900
32. 2024-07-11
    listed $162,000 Active
33. 2024-06-29
    status Active
34. 2024-06-17
    historical Contingent
35. 2024-06-17
    historical
36. 2024-06-03
    listed $162,000 Active
37. 2024-05-29
    historical
38. 2024-05-06
    listed $162,000 Active
39. 2024-05-02
    historical
40. 2024-04-27
    listed $169,900 Active
41. 2024-04-22
    historical
42. 2024-03-19
    listed $135,000 Active
43. 2024-03-16
    historical
44. 2024-03-06
    listed $169,900 Active
45. 2024-01-14
    historical
46. 2023-12-28
    price $169,900
47. 2023-12-13
    listed $179,900 Active
48. 2023-12-04
    historical
49. 2023-11-16
    price $179,000
50. 2023-11-04
    listed $189,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $24,854
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − Depreciation: −$2,036
• Taxable income: $13,520
• Est. tax owed @ 24.0%: −$3,245
• After-tax cash flow: $10,585/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: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

Amenities A+ Commute A+ Cost of living C+ 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: Albany, NY
• City population: 116,921
• Population (ZIP): 10,754

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 46% Black 23% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Serbian 1%
• Foreign-born: 18% · Canada, Philippines, South Korea
• Languages at home: 77% English-only · Spanish 13% Other Asian/Pacific 3% Tagalog/Filipino 1%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.91%
• Current HPI: 318.0191
• 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

+52.5% since first listed

82 events — show timeline

• 2026-05-14 Pending — Global MLS
• 2026-04-08 Listed $70,000 Global MLS
• 2026-03-11 Relisted — Global MLS
• 2026-02-20 Pending — Global MLS
• 2026-01-13 Contingent — Global MLS
• 2026-01-13 Listing Removed — Global MLS
• 2025-12-29 Price Changed $70,000 Global MLS
• 2025-12-26 Listed $155,000 Global MLS
• 2025-11-22 Listing Removed — Global MLS
• 2025-10-13 Price Changed $154,900 Global MLS
• 2025-09-25 Listed $139,900 Global MLS
• 2025-09-24 Listing Removed — Global MLS
• 2025-08-27 Listed $145,000 Global MLS
• 2025-07-24 Listing Removed — Global MLS
• 2025-06-23 Listed $167,000 Global MLS
• 2025-06-04 Pending — Global MLS
• 2025-05-27 Listing Removed — Global MLS
• 2025-05-18 Listed $165,000 Global MLS
• 2025-04-21 Relisted — Global MLS
• 2025-04-10 Pending — Global MLS
• 2025-04-10 Listing Removed — Global MLS
• 2025-03-21 Price Changed $165,000 Global MLS
• 2025-03-14 Rental Removed $1,900 APPFOLIO
• 2025-02-19 Listed $150,000 Global MLS
• 2024-11-01 Listing Removed — Global MLS
• 2024-10-23 Listed $167,000 Global MLS
• 2024-10-04 Listed for Rent $1,900 APPFOLIO
• 2024-08-19 Rental Removed $1,900 APPFOLIO
• 2024-08-14 Listing Removed — Global MLS
• 2024-08-09 Price Changed $157,000 Global MLS
• 2024-07-14 Listed for Rent $1,900 APPFOLIO
• 2024-07-11 Listed $162,000 Global MLS
• 2024-06-29 Relisted — Global MLS
• 2024-06-17 Contingent — Global MLS
• 2024-06-17 Listing Removed — Global MLS
• 2024-06-03 Listed $162,000 Global MLS
• 2024-05-29 Listing Removed — Global MLS
• 2024-05-06 Listed $162,000 Global MLS
• 2024-05-02 Listing Removed — Global MLS
• 2024-04-27 Listed $169,900 Global MLS
• 2024-04-22 Listing Removed — Global MLS
• 2024-03-19 Listed $135,000 Global MLS
• 2024-03-16 Listing Removed — Global MLS
• 2024-03-06 Listed $169,900 Global MLS
• 2024-01-14 Listing Removed — Global MLS
• 2023-12-28 Price Changed $169,900 Global MLS
• 2023-12-13 Listed $179,900 Global MLS
• 2023-12-04 Listing Removed — Global MLS
• 2023-11-16 Price Changed $179,000 Global MLS
• 2023-11-04 Listed $189,900 Global MLS
• 2023-09-06 Listing Removed — Global MLS
• 2023-08-04 Price Changed $198,600 Global MLS
• 2023-06-14 Listed $187,000 Global MLS
• 2023-06-12 Listing Removed — Global MLS
• 2023-02-14 Listed $187,000 Global MLS
• 2023-02-01 Listing Removed — Global MLS
• 2022-11-28 Listed $187,500 Global MLS
• 2022-08-25 Listing Removed — Global MLS
• 2022-05-30 Price Changed $190,000 Global MLS
• 2022-05-17 Price Changed $180,000 Global MLS
• 2022-04-13 Relisted — Global MLS
• 2022-03-01 Listing Removed — Global MLS
• 2022-02-25 Listed $170,000 Global MLS
• 2021-10-04 Listing Removed — Global MLS
• 2021-09-13 Price Changed $170,000 Global MLS
• 2021-07-22 Listed $160,000 Global MLS
• 2019-02-26 Sold (Public Records) $77,500 Public Records
• 2019-02-20 Sold (MLS) $77,500 Global MLS
• 2019-01-22 Pending — Global MLS
• 2019-01-03 Price Changed $77,500 Global MLS
• 2018-11-06 Listed $82,500 Global MLS
• 2015-08-29 Listing Removed — Global MLS
• 2015-08-08 Listed $89,900 Global MLS
• 2015-08-08 Listing Removed — Global MLS
• 2015-01-18 Listing Removed — Global MLS
• 2015-01-18 Listed $89,900 Global MLS
• 2014-07-17 Listed $89,900 Global MLS
• 2000-03-24 Sold (Public Records) $53,100 Public Records
• 1999-12-27 Sold (MLS) $23,500 Global MLS
• 1999-12-22 Sold (Public Records) $26,500 Public Records
• 1999-12-16 Listing Removed — Global MLS
• 1999-02-09 Listed $45,900 Global MLS

Property tax history

+10.8%/yr

Latest (2025): $3,534 · -0.8% YoY. Source: county tax records.