54 Ontario St · Albany, NY 12206

$135,000

3 bd · 1.0 ba · 1,380 sqft · Townhouse public records · 107 Days on market

Built 1890 2,613 sqft lot $98/sqft · at area comps Est $136k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.7/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this 3-bedroom, 1-bath home listed at $135,000. Whether you're a first-time buyer looking to stop renting or an investor seeking to expand your portfolio, this property offers strong potential and value. The home features a functional layout, a full basement for additional storage or future possibilities, and important recent updates including a new heating system and new hot water tank, providing peace of mind for the next owner. With solid fundamentals and room to add your own touches, this property is a great option for affordable homeownership or a rental investment. Don't miss the chance to secure a property at an attractive price point with long-term potential.

Key facts

• New hot water tank
• Full basement
• New heating system

Tags

• FULL BASEMENT
• NEW HEATING SYSTEM
• NEW HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Rents rising fast (+5.4%/yr); 89 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); lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $1,920/mo this rent would consume 55% of the median local household income ($42k/yr) (locally 2035% 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 $933 of loan paydown is wiped out by about $4k 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 + 5.4% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $30k; list at $135k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.42% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.22%
• DSCR: 1.99
• GRM: 5.9

CMA / ARV

• ARV (median comp): $135,684
• List price: $135,000
• Delta: -0.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 1.72×
• Total profit: $27,350
• Equity at exit: $20,129

10-year hold

• IRR: 27.4%
• Equity multiple: 3.68×
• Total profit: $101,240
• Equity at exit: $11,672

Cash invested: $37,800 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,920 high
• Mortgage (P&I): −$708
• Tax from tax record: −$53 /mo · $633/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $700

Break-even live

Break-even rent $1,034

Max offer price $135,000

Occupancy floor 59%

Sensitivity live

Price	-10% $776	-5% $738	+0% $700	+5% $662	+10% $624
Rent	-10% $548	-5% $624	+0% $700	+5% $776	+10% $852
Rate	-1.0pp $768	-0.5pp $734	base $700	+0.5pp $665	+1.0pp $629

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
530 3rd St Apt 2 Albany, NY	2.0	1.0	900	$1,400	$1.56	45d	1	0.08mi
260 Bradford St Unit 205 Albany, NY	3.0	2.0	912	$1,700	$1.86	25d	1	0.31mi
526 Central Ave Albany, NY	1.0–2.0	1.0	957	$1,435	$1.50	45d	1	0.37mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	45d	1	0.43mi
188 Spring St Unit 2 Albany, NY	2.0	1.0	1200	$1,475	$1.23	45d	1	0.50mi
460 Washington Ave Albany, NY	2.0	1.0	950	$1,650	$1.74	25d	1	0.54mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	25d	1	0.61mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	16d	1	0.62mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	25d	1	0.62mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	25d	1	0.62mi
180 Western Ave Unit 1st Floor Albany, NY	2.0	1.0	900	$1,550	$1.72	45d	1	0.64mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	16d	1	0.64mi
180 Western Ave Unit 2nd Floor Albany, NY	2.0	1.0	1000	$1,575	$1.57	45d	1	0.64mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	45d	1	0.68mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	16d	1	0.74mi
517 Hamilton St Albany, NY	4.0	1.0	1020	$2,000	$1.96	25d	1	0.75mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	0.76mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	16d	1	0.77mi
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	16d	1	0.78mi
336 Clinton Ave Albany, NY	2.0	1.0	900	$1,700	$1.89	45d	1	0.79mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	25d	1	0.84mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	25d	1	0.84mi
240 Washington Ave Albany, NY	2.0	2.0	1560	$2,450	$1.57	45d	1	0.95mi
110 Lark St Unit STREET-1 Albany, NY	2.0	1.0	975	$1,150	$1.18	23d	1	0.95mi
110 Lark St Unit STREET-1 Albany, NY	2.0	1.0	975	$1,150	$1.18	16d	1	0.95mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	23d	1	0.96mi
254 Sheridan Ave Unit 2 Albany, NY	3.0	1.0	900	$1,300	$1.44	25d	1	0.98mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	16d	1	0.98mi
898 Lancaster St Unit 2 Albany, NY	2.0	1.0	1200	$1,700	$1.42	25d	1	1.03mi
199 Lark St Albany, NY	3.0	1.0	1000	$1,800	$1.80	45d	1	1.03mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	45d	1	1.04mi
352 State St Albany, NY	2.0	2.0	1143	$2,500	$2.19	25d	1	1.05mi
32 Richmond St Unit 2 Albany, NY	3.0	3.0	1248	$2,500	$2.00	16d	1	1.07mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	16d	1	1.07mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	45d	1	1.10mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	45d	1	1.10mi
227 Jay St Albany, NY	2.0	2.0	1710	$2,150	$1.26	45d	1	1.14mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	16d	10	1.15mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	25d	1	1.17mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	45d	1	1.21mi

Listing history 21 events

1. 2026-06-21
   days on market $135,000 Active 107 DOM
2. 2026-06-18
   days on market $135,000 Active 104 DOM
3. 2026-06-17
   days on market $135,000 Active 103 DOM
4. 2026-06-16
   days on market $135,000 Active 102 DOM
5. 2026-06-15
   days on market $135,000 Active 101 DOM
6. 2026-06-14
   days on market $135,000 Active 99 DOM
7. 2026-06-10
   days on market $135,000 Active 96 DOM
8. 2026-06-08
   days on market $135,000 Active 94 DOM
9. 2026-06-07
   days on market $135,000 Active 93 DOM
10. 2026-06-03
    days on market $135,000 Active 89 DOM
11. 2026-06-02
    days on market $135,000 Active 88 DOM
12. 2026-06-01
    days on market $135,000 Active 87 DOM
13. 2026-05-31
    days on market $135,000 Active 86 DOM
14. 2026-05-31
    days on market $135,000 Active 85 DOM
15. 2026-03-06
    listed $135,000 Active 709-char remark

    Show marketing remark (709 chars)

    Great opportunity to own this 3-bedroom, 1-bath home listed at $135,000. Whether you're a first-time buyer looking to stop renting or an investor seeking to expand your portfolio, this property offers strong potential and value. The home features a functional layout, a full basement for additional storage or future possibilities, and important recent updates including a new heating system and new hot water tank, providing peace of mind for the next owner. With solid fundamentals and room to add your own touches, this property is a great option for affordable homeownership or a rental investment. Don't miss the chance to secure a property at an attractive price point with long-term potential.

16. 2023-10-27
    soldstatus $30,000 Closed 184-char remark

    Show marketing remark (184 chars)

    Attention Investors !! Looking to start or add to your business portfolio this portfolio consists of 75 units this is a single family property CASH ONLY . This is a must see Sold as is

17. 2023-09-13
    status Pending 184-char remark

    Show marketing remark (184 chars)

    Attention Investors !! Looking to start or add to your business portfolio this portfolio consists of 75 units this is a single family property CASH ONLY . This is a must see Sold as is

18. 2023-08-28
    listed $30,000 Active 184-char remark

    Show marketing remark (184 chars)

    Attention Investors !! Looking to start or add to your business portfolio this portfolio consists of 75 units this is a single family property CASH ONLY . This is a must see Sold as is

19. 2019-12-06
    historical
20. 2019-11-12
    listed $29,000 New
21. 2004-01-20
    soldstatus $13,000

ⓘ 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: $633 · $53/mo
• Projected year-2 tax: $1,457 · $121/mo
• Expected delta: +$824/yr (+$69/mo · 130.2%)

ⓘ 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 ≥97°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: $23,042
• − Mortgage interest: −$7,562
• − Property taxes: −$633
• − Insurance: −$675
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − Depreciation: −$3,927
• Taxable income: $6,558
• Est. tax owed @ 24.0%: −$1,574
• After-tax cash flow: $6,826/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
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

+938.5% since first listed

7 events — show timeline

• 2026-03-06 Listed $135,000 Global MLS
• 2023-10-27 Sold (MLS) $30,000 Global MLS
• 2023-09-13 Pending — Global MLS
• 2023-08-28 Listed $30,000 Global MLS
• 2019-12-06 Listing Removed — Global MLS
• 2019-11-12 Listed $29,000 Global MLS
• 2004-01-20 Sold (Public Records) $13,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $633 · -0.8% YoY. Source: county tax records.