1002 Davis Ter · Schenectady, NY 12303

$70,000

6 bd · 5.0 ba · 3,148 sqft · MultiFamily public records · 74 Days on market

Built 1984 4,791 sqft lot $22/sqft · 84% below area ↓ 42% since listing

---

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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Rare Opportunity to own a 5 Unit Building in Schenectady! City of Schenectady Property. 1002 Davis Terrace is classified as a 411 (Apartments) and located in a R-1 (Single Family) zoned area. A variance would be needed to use as multi family or it must be converted to single family residence. City-owned property offered by the city of Schenectady. Reserves $62,500 Offers due 4/22/2026, committee meeting 5/6/2026.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1984

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 77.3% 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: Hamilton Elementary School (math 15% / reading 24%, grade F, #1,972 of 2,108 statewide, top 94%, 419 students, 0% 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: 164 active listings in the ZIP; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $5,857/mo this rent would consume 83% of the median local household income ($84k/yr) (locally 1318% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y 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 $28k; list at $70k implies a 155% gain — meaningful room to come down on a strong offer.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 8.37% ✓
• Cap rate: 77.32%
• Cash-on-cash: 253.67%
• DSCR: 12.29
• GRM: 1.0

CMA / ARV

• ARV (median comp): $219,016
• List price: $70,000
• Delta: -68.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
720 Congress St	0.25mi	5/3.0 (-1)	3,042 (-3%)	14mo	$62,500	$21	58
1005 Congress St	0.16mi	7/3.0 (+1)	2,690 (-14%)	5mo	$85,000	$32	51
1311 Lower Broadway	0.52mi	7/3.5 (+1)	3,304 (+5%)	14mo	$97,500	$30	45
2116 Broadway	0.54mi	7/4.5 (+1)	3,303 (+5%)	18mo	$325,000	$98	45
1317 Lower Broadway	0.51mi	7/2.0 (+1)	2,955 (-6%)	5mo	$270,000	$91	44
429 Third St	0.41mi	6/2.0	2,720 (-14%)	10mo	$180,000	$66	38
2122 Broadway	0.55mi	6/2.0	2,738 (-13%)	13mo	$250,000	$91	30
1181 Chrisler Ave	0.58mi	7/2.0 (+1)	3,410 (+8%)	19mo	$200,000	$59	26

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: —
• Equity multiple: 13.89×
• Total profit: $252,633
• Equity at exit: $10,437

10-year hold

• IRR: —
• Equity multiple: 29.58×
• Total profit: $560,144
• 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 12303

• Active inventory: 164
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $5,857 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,230
• Net cashflow: $4,143

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 24%

Sensitivity live

Price	-10% $4,192	-5% $4,167	+0% $4,143	+5% $4,119	+10% $4,095
Rent	-10% $3,681	-5% $3,912	+0% $4,143	+5% $4,375	+10% $4,606
Rate	-1.0pp $4,179	-0.5pp $4,161	base $4,143	+0.5pp $4,125	+1.0pp $4,107

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$5,855
Total (5 units)			$5,857

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: —

Listing history 32 events

1. 2026-06-21
   days on market $70,000 Active 74 DOM
2. 2026-06-18
   days on market $70,000 Active 71 DOM
3. 2026-06-17
   days on market $70,000 Active 70 DOM
4. 2026-06-16
   days on market $70,000 Active 69 DOM
5. 2026-06-15
   days on market $70,000 Active 68 DOM
6. 2026-06-14
   days on market $70,000 Active 66 DOM
7. 2026-06-13
   days on market $70,000 Active 65 DOM
8. 2026-06-10
   days on market $70,000 Active 63 DOM
9. 2026-06-09
   days on market $70,000 Active 62 DOM
10. 2026-06-08
    days on market $70,000 Active 61 DOM
11. 2026-06-07
    days on market $70,000 Active 60 DOM
12. 2026-06-03
    days on market $70,000 Active 56 DOM
13. 2026-06-02
    days on market $70,000 Active 55 DOM
14. 2026-06-01
    days on market $70,000 Active 54 DOM
15. 2026-05-31
    days on market $70,000 Active 53 DOM
16. 2026-05-31
    days on market $70,000 Active 52 DOM
17. 2026-04-08
    listed $70,000 Active 426-char remark

    Show marketing remark (426 chars)

    Rare Opportunity to own a 5 Unit Building in Schenectady! City of Schenectady Property. 1002 Davis Terrace is classified as a 411 (Apartments) and located in a R-1 (Single Family) zoned area. A variance would be needed to use as multi family or it must be converted to single family residence. City-owned property offered by the city of Schenectady. Reserves $62,500 Offers due 4/22/2026, committee meeting 5/6/2026.

18. 2023-03-29
    status Pending
19. 2021-12-14
    status Pending
20. 2020-01-15
    status Pend (Under Cntr)
21. 2020-01-15
    historical
22. 2019-10-25
    status Back On Market
23. 2019-03-20
    historical
24. 2019-02-16
    price $65,000
25. 2018-12-31
    listed $80,000 New
26. 2014-09-18
    soldstatus $27,500
27. 2013-12-04
    historical
28. 2013-03-03
    listed $47,798
29. 2012-07-17
    historical
30. 2011-11-18
    listed $89,900
31. 2011-07-16
    historical
32. 2011-01-15
    listed $120,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $70,284
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$5,623
• − Management: −$5,623
• − Depreciation: −$2,036
• Taxable income: $51,681
• Est. tax owed @ 24.0%: −$12,403
• After-tax cash flow: $37,316/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): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 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: ▼ -151.01%
• Current HPI: 280.3886
• 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

-41.7% since first listed

16 events — show timeline

• 2026-04-08 Listed $70,000 Global MLS
• 2023-03-29 Pending — Global MLS
• 2021-12-14 Pending — Global MLS
• 2020-01-15 Pending — Global MLS
• 2020-01-15 Listing Removed — Global MLS
• 2019-10-25 Relisted — Global MLS
• 2019-03-20 Listing Removed — Global MLS
• 2019-02-16 Price Changed $65,000 Global MLS
• 2018-12-31 Listed $80,000 Global MLS
• 2014-09-18 Sold (Public Records) $27,500 Public Records
• 2013-12-04 Listing Removed — Global MLS
• 2013-03-03 Listed $47,798 Global MLS
• 2012-07-17 Listing Removed — Global MLS
• 2011-11-18 Listed $89,900 Global MLS
• 2011-07-16 Listing Removed — Global MLS
• 2011-01-15 Listed $120,000 Global MLS

Property tax history

+0.4%/yr

Latest (2025): $7,084 · -7.2% YoY. Source: county tax records.