205 Victory Ave · Schenectady, NY 12307

$315,000

6 bd · 2.0 ba · 2,754 sqft · MultiFamily public records · 7 Days on market

Built 1915 3,484 sqft lot $114/sqft · at area comps Est $289k · 9% over

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Why this score? — see what drove the C 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 +20.8/30.0
• Appreciation +10.0/10.0
• DSCR +6.6/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• ARV discount +3.4/15.0
• 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

Beautifully renovated two-family home offering 2,754 square feet of modern living across two stylish units, perfect for investors seeking strong rental income or owner-occupants looking to live in one and rent the other. Each unit features a fresh, top-to-bottom renovation with crisp white trim, light wood-tone flooring, soft neutral paint, and abundant natural light, including a charming bay window. The kitchens shine with white shaker cabinetry, stainless steel appliances, modern hardware, and generous counter space, while the bathrooms have been beautifully reimagined with marble-style tile surrounds, modern vanities, and contemporary fixtures. Additional highlights include a sleek linea

Key facts

• Bay window
• Two family home
• Fresh renovation

Tags

• TWO FAMILY HOME
• FRESH RENOVATION
• BAY WINDOW
• WHITE SHAKER CABINETRY
• STAINLESS STEEL APPLIANCES
• MARBLE STYLE TILE SURROUNDS

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Duplex
• Construction: Vinyl siding; Shingle (asphalt) roof
• Exterior features: Level lot; Back yard fencing; Vinyl and wood fencing

Interior

• Kitchen:
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Flooring: Vinyl flooring; Tile flooring
• Bathrooms: 2 full bathrooms total (one full bath on 1st level, one full bath on 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: High speed internet; Full basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive. Per door: $217/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (0.0% below list).
• Recommended offer: $315k (0.0% below list) — sets the bar for 1% rule.

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; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $32k 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 $88k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 23y 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 $150k; list at $315k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $314,900

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 1915 — 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: 1.00% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 8.3

CMA / ARV

• ARV (median comp): $288,979
• List price: $315,000
• Delta: 9.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Hawk St	0.38mi	6/2.0	2,584 (-6%)	0mo	$370,000	$143	72
222 Duane Ave	0.55mi	6/2.0	2,700 (-2%)	1mo	$329,900	$122	71
316 Georgetta Dix Plz	0.28mi	6/4.0	2,664 (-3%)	4mo	$262,500	$99	70
1013 Delamont Ave	0.42mi	6/2.0	2,576 (-6%)	1mo	$111,500	$43	68
25 Steuben St	0.42mi	6/3.0	2,640 (-4%)	1mo	$265,000	$100	68
421 Summit Ave	0.47mi	6/2.0	2,600 (-6%)	2mo	$308,000	$118	67
1 Chestnut St	0.13mi	6/3.0	2,406 (-13%)	2mo	$290,000	$121	67
318 Georgetta Dix Plz	0.28mi	7/4.0 (+1)	2,806 (+2%)	4mo	$200,000	$71	67
510 Mumford St	0.52mi	6/2.0	2,544 (-8%)	2mo	$15,000	$6	62
1054 Park Ave	0.58mi	6/2.0	3,008 (+9%)	2mo	$260,000	$86	56
820 Strong St	0.61mi	6/4.0	2,880 (+5%)	3mo	$41,000	$14	53
517 Mumford st St	0.56mi	6/3.0	3,144 (+14%)	3mo	$120,000	$38	44

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: 28.6%
• Equity multiple: 3.26×
• Total profit: $199,177
• Equity at exit: $283,777

10-year hold

• IRR: 24.8%
• Equity multiple: 7.40×
• Total profit: $564,745
• Equity at exit: $611,976

Cash invested: $88,200 (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: 16.7×

Monthly cashflow live

• Estimated rent: $3,149 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$270 /mo · $3,246/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $434

Break-even live

Break-even rent $2,600

Max offer price $315,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,148
Total (2 units)			$3,149

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-12
   listed $315,000 Active 985-char remark
2. 2025-11-17
   soldstatus $150,000
3. 2025-05-22
   historical
4. 2024-12-04
   listed $249,000 Active
5. 2009-07-31
   historical
6. 2009-05-12
   listed $64,900
7. 2008-10-26
   historical
8. 2008-04-25
   listed $74,500
9. 2005-08-24
   soldstatus $31,000
10. 2005-08-12
    soldstatus $31,000
11. 2005-07-31
    historical
12. 2005-04-19
    listed $41,900
13. 2004-01-05
    soldstatus $21,000
14. 2003-12-22
    soldstatus $21,000
15. 2003-11-14
    historical
16. 2003-05-05
    listed $25,000
17. 1999-03-03
    soldstatus $52,500

ⓘ 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: $3,246 · $270/mo
• Projected year-2 tax: $4,285 · $357/mo
• Expected delta: +$1,039/yr (+$87/mo · 32.0%)

ⓘ 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 ≥96°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: $37,788
• − Mortgage interest: −$17,645
• − Property taxes: −$3,246
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,023
• − Management: −$3,023
• − Depreciation: −$9,164
• Taxable income: $113
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $5,182/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

+500.0% since first listed

18 events — show timeline

• 2026-05-19 Pending — Global MLS
• 2026-05-12 Listed $315,000 Global MLS
• 2025-11-17 Sold (Public Records) $150,000 Public Records
• 2025-05-22 Listing Removed — Global MLS
• 2024-12-04 Listed $249,000 Global MLS
• 2009-07-31 Listing Removed — Global MLS
• 2009-05-12 Listed $64,900 Global MLS
• 2008-10-26 Listing Removed — Global MLS
• 2008-04-25 Listed $74,500 Global MLS
• 2005-08-24 Sold (Public Records) $31,000 Public Records
• 2005-08-12 Sold (MLS) $31,000 Global MLS
• 2005-07-31 Listing Removed — Global MLS
• 2005-04-19 Listed $41,900 Global MLS
• 2004-01-05 Sold (Public Records) $21,000 Public Records
• 2003-12-22 Sold (MLS) $21,000 Global MLS
• 2003-11-14 Listing Removed — Global MLS
• 2003-05-05 Listed $25,000 Global MLS
• 1999-03-03 Sold (Public Records) $52,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $3,246 · +4.0% YoY. Source: county tax records.