486 4th St · Troy, NY 12180

$259,900

9 bd · 3.0 ba · 3,012 sqft · MultiFamily public records · 59 Days on market

Built 1910 6,098 sqft lot $86/sqft · 41% below area Est $351k · 26% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Amazing opportunity! Brick three family home in Troy. Separate utilities, back yard. Needs tlc, make this your summer project! Fair Condition

Key facts

• Separate utilities
• Updated mechanicals
• Big newer windows

Tags

• BRICK 3-UNIT PROPERTY
• BIG NEWER WINDOWS
• UPDATED MECHANICALS
• EFFICIENT MINI-SPLIT SYSTEMS
• SEPARATE UTILITIES

Property features AI

Finance

• Other: Annual tax amount reported
• Financial info: Triplex with 3 total units; Tenants pay hot water, heat, and gas

Exterior

• Parking: No parking details provided
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable available
• Home design: Triplex; Living area reported; Property sits on a 0.14-acre lot
• Construction: Brick construction; Rubber roof; Basement with exterior and interior entry; Basement includes Bilco doors, finished and unfinished areas, full height, and heated spaces; Basement contains an apartment
• Exterior features: Deck; Other exterior features

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms; Unit 3: 3 bedrooms
• Flooring: Vinyl; Tile; Carpet
• Bathrooms: 3 full bathrooms total (full baths located on 1st, 2nd, and 3rd levels); Unit 1: 1 full bath; Unit 2: 1 full bath; Unit 3: 1 full bath
• Heating & cooling: Baseboard heating; Electric heating; Natural gas heating; Air conditioning pump; Ductless cooling
• Interior features: Paddle fans; High-speed internet available; Built-in features; Crown molding
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $753/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $260k).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 5.3% in Troy — 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 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carroll Hill School (math 22% / reading 32%, grade F, #1,786 of 2,108 statewide, top 86%, 340 students, 85% FRL); Troy Middle School (math 22% / reading 43%, grade F, #504 of 729 statewide, top 70%, 786 students, 72% FRL); Troy High School (math 95% / reading 77%, grade A, #347 of 1,100 statewide, top 32%, 1,153 students, 64% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• At $5,454/mo this rent would consume 86% of the median local household income ($76k/yr) (locally 2698% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $73k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $260k implies a 526% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $252,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.10% ✓
• Cap rate: 16.73%
• Cash-on-cash: 37.27%
• DSCR: 2.66
• GRM: 4.0

CMA / ARV

• ARV (median comp): $350,799
• List price: $259,900
• Delta: -25.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
455 2nd St	0.12mi	10/3.0 (+1)	3,200 (+6%)	5mo	$375,000	$117	74
381 3rd St	0.19mi	9/3.5	3,372 (+12%)	4mo	$313,000	$93	66
306 3rd St	0.41mi	10/3.0 (+1)	3,379 (+12%)	2mo	$410,000	$121	54
331 2nd St	0.27mi	8/3.5 (-1)	3,450 (+14%)	3mo	$330,000	$96	53
298 3rd St	0.43mi	8/3.0 (-1)	2,646 (-12%)	8mo	$317,000	$120	48
180 Hill St	0.51mi	8/3.0 (-1)	3,243 (+8%)	15mo	$338,000	$104	46

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 · 4.88% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 2.55×
• Total profit: $112,592
• Equity at exit: $38,752

10-year hold

• IRR: 43.3%
• Equity multiple: 5.52×
• Total profit: $329,195
• Equity at exit: $22,471

Cash invested: $72,772 (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 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $5,454 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$577 /mo · $6,925/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,145
• Net cashflow: $2,260

Break-even live

Break-even rent $2,593

Max offer price $259,900

Occupancy floor 54%

Sensitivity live

Price	-10% $2,407	-5% $2,334	+0% $2,260	+5% $2,187	+10% $2,113
Rent	-10% $1,829	-5% $2,045	+0% $2,260	+5% $2,476	+10% $2,691
Rate	-1.0pp $2,391	-0.5pp $2,326	base $2,260	+0.5pp $2,193	+1.0pp $2,124

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,454
Total (3 units)			$5,454

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-21
   days on market $259,900 Active 59 DOM
2. 2026-06-18
   days on market $259,900 Active 56 DOM
3. 2026-06-17
   days on market $259,900 Active 55 DOM
4. 2026-06-16
   days on market $259,900 Active 54 DOM
5. 2026-06-15
   pricedays on market $259,900 Active 53 DOM
6. 2026-06-14
   days on market $269,900 Active 51 DOM
7. 2026-06-13
   days on market $269,900 Active 50 DOM
8. 2026-06-10
   days on market $269,900 Active 48 DOM
9. 2026-06-09
   days on market $269,900 Active 47 DOM
10. 2026-06-08
    days on market $269,900 Active 46 DOM
11. 2026-06-07
    days on market $269,900 Active 45 DOM
12. 2026-06-03
    days on market $269,900 Active 41 DOM
13. 2026-06-02
    days on market $269,900 Active 40 DOM
14. 2026-06-01
    days on market $269,900 Active 39 DOM
15. 2026-05-31
    days on market $269,900 Active 38 DOM
16. 2026-05-31
    days on market $269,900 Active 37 DOM
17. 2026-04-23
    listed $279,900 Active 431-char remark
18. 2025-09-29
    status Pending
19. 2025-09-29
    historical
20. 2025-09-23
    price $275,000
21. 2025-09-10
    listed $299,900 Active
22. 2016-09-16
    soldstatus $41,500 Closed (Final Sale)

    Show marketing remark (141 chars)

    Amazing opportunity! Brick three family home in Troy. Separate utilities, back yard. Needs tlc, make this your summer project! Fair Condition

23. 2016-06-21
    status Pend (Under Cntr)

    Show marketing remark (141 chars)

    Amazing opportunity! Brick three family home in Troy. Separate utilities, back yard. Needs tlc, make this your summer project! Fair Condition

24. 2016-06-16
    price $32,000

    Show marketing remark (141 chars)

    Amazing opportunity! Brick three family home in Troy. Separate utilities, back yard. Needs tlc, make this your summer project! Fair Condition

25. 2016-06-01
    listed $48,000 New

    Show marketing remark (141 chars)

    Amazing opportunity! Brick three family home in Troy. Separate utilities, back yard. Needs tlc, make this your summer project! Fair Condition

26. 2016-03-17
    soldstatus $127,931
27. 2013-07-03
    historical
28. 2013-01-02
    listed $84,900
29. 2012-07-11
    historical
30. 2012-01-16
    listed $84,900
31. 2011-12-06
    historical
32. 2011-08-04
    listed $92,000
33. 2011-07-27
    historical
34. 2011-02-22
    listed $95,000
35. 2006-01-11
    soldstatus $125,000
36. 2005-12-30
    soldstatus $125,000
37. 2005-12-06
    historical
38. 2005-11-28
    listed $129,900
39. 2000-10-12
    soldstatus $56,000

ⓘ 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: $6,925 · $577/mo
• Projected year-2 tax: $6,925 · $577/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 1/10 Low FEMA zone X · 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 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,448
• − Mortgage interest: −$14,558
• − Property taxes: −$6,925
• − Insurance: −$1,300
• − Repairs & maintenance: −$5,236
• − Management: −$5,236
• − Depreciation: −$7,561
• Taxable income: $24,632
• Est. tax owed @ 24.0%: −$5,912
• After-tax cash flow: $21,212/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: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

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 (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

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: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• 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

+364.1% since first listed

25 events — show timeline

• 2026-06-14 Price Changed $259,900 Global MLS
• 2026-05-26 Price Changed $269,900 Global MLS
• 2026-04-23 Listed $279,900 Global MLS
• 2025-09-29 Pending — Global MLS
• 2025-09-29 Listing Removed — Global MLS
• 2025-09-23 Price Changed $275,000 Global MLS
• 2025-09-10 Listed $299,900 Global MLS
• 2016-09-16 Sold (MLS) $41,500 Global MLS
• 2016-06-21 Pending — Global MLS
• 2016-06-16 Price Changed $32,000 Global MLS
• 2016-06-01 Listed $48,000 Global MLS
• 2016-03-17 Sold (Public Records) $127,931 Public Records
• 2013-07-03 Listing Removed — Global MLS
• 2013-01-02 Listed $84,900 Global MLS
• 2012-07-11 Listing Removed — Global MLS
• 2012-01-16 Listed $84,900 Global MLS
• 2011-12-06 Listing Removed — Global MLS
• 2011-08-04 Listed $92,000 Global MLS
• 2011-07-27 Listing Removed — Global MLS
• 2011-02-22 Listed $95,000 Global MLS
• 2006-01-11 Sold (Public Records) $125,000 Public Records
• 2005-12-30 Sold (MLS) $125,000 Global MLS
• 2005-12-06 Listing Removed — Global MLS
• 2005-11-28 Listed $129,900 Global MLS
• 2000-10-12 Sold (Public Records) $56,000 Public Records

Property tax history

+19.3%/yr

Latest (2025): $6,925 · +64.7% YoY. Source: county tax records.