257 Elk St · Albany, NY 12206

$180,000

4 bd · 2.0 ba · 1,452 sqft · MultiFamily public records · 13 Days on market

Built 1885 2,613 sqft lot Est $154k · 17% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Attention Investors !! Looking to start or add to your business portfolio package deal for all 2 properties 510 Clinton Ave. Seller is open to reviewing any and all offer in a written contract. Rops are in place. Tenants stay with the property 48hrs Notice Price to sell quickly . Sold as.

Key facts

• 2,613 sq ft lot
• Built 1885
• Listed 13 days

Property features AI

Finance

• Financial info: Two units total; Tenants pay heat, internet, cable/DSL, electricity, and gas; Owner pays water and trash collection

Exterior

• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; 100 amp electrical service with circuit breakers; Cable available and connected
• Home design: Duplex; Entry level includes 1st and 2nd floors
• Construction: Aluminum siding; Vinyl siding; Block foundation; Rubber roof; Built as a multi-family duplex
• Exterior features: Back yard fencing; Level lot

Interior

• Kitchen: Unit 1: 1 kitchen on 1st floor; Unit 2: 1 kitchen on 1st floor
• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 3 bedrooms (all on 1st floor)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms total; Full bathroom on 1st floor; Full bathroom on 2nd floor
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating
• Interior features: High-speed internet available; Built-in features; DSL internet; ENERGY STAR qualified doors; ENERGY STAR qualified windows

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Cap rate 18.7% 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.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 26y 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 $118k; list at $180k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 2.16% ✓
• Cap rate: 18.67%
• Cash-on-cash: 44.19%
• DSCR: 2.97
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $153,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 1st St	0.27mi	5/2.5 (+1)	1,364 (-6%)	3mo	$135,000	$99	68
210 1st St	0.26mi	5/2.5 (+1)	1,356 (-7%)	3mo	$135,000	$100	67
60 Bradford St	0.28mi	3/2.0 (-1)	1,600 (+10%)	4mo	$170,000	$106	61
95 3rd St	0.50mi	4/2.0	1,584 (+9%)	3mo	$180,000	$114	59
14 Pennsylvania Ave	0.46mi	4/2.0	1,600 (+10%)	13mo	$110,000	$69	51
320 1st St	0.26mi	5/3.0 (+1)	1,638 (+13%)	10mo	$213,000	$130	49
178 Spring St	0.70mi	3/2.0 (-1)	1,524 (+5%)	9mo	$195,000	$128	47
74 Third St	0.53mi	4/2.0	1,330 (-8%)	17mo	$90,000	$68	47
108 Spring St	0.53mi	4/2.0	1,560 (+7%)	24mo	$150,000	$96	43
589 Clinton Ave	0.52mi	4/2.0	1,595 (+10%)	24mo	$125,000	$78	39
63 Irving St	0.69mi	3/2.5 (-1)	1,638 (+13%)	13mo	$207,000	$126	29
203 Myrtle Ave	0.73mi	4/2.0	1,624 (+12%)	22mo	$230,000	$142	28

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 2.89×
• Total profit: $95,080
• Equity at exit: $26,839

10-year hold

• IRR: 49.6%
• Equity multiple: 6.39×
• Total profit: $271,716
• Equity at exit: $15,563

Cash invested: $50,400 (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: 11.6×

Monthly cashflow live

• Estimated rent: $3,895 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$202 /mo · $2,427/yr
• Insurance: −$75
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$818
• Net cashflow: $1,800

Break-even live

Break-even rent $1,616

Max offer price $180,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,894
Total (3 units)			$3,895

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
254 Sheridan Ave Unit 2 Albany, NY	3.0	1.0	900	$1,300	$1.44	23d	1	0.24mi
199 Lark St Albany, NY	3.0	1.0	1000	$1,800	$1.80	44d	1	0.26mi
282 Livingston Ave Albany, NY	3.0	1.5	1464	$2,400	$1.64	23d	1	0.40mi
88 Willett St Albany, NY	3.0	1.0	825	$2,080	$2.52	14d	10	0.47mi
147 Western Ave Albany, NY	3.0	1.0	1428	$1,800	$1.26	14d	1	0.48mi
520 Madison Ave Unit 1 Albany, NY	3.0	1.0	1080	$1,700	$1.57	44d	1	0.51mi
178 Western Ave Unit 3 Albany, NY	3.0	1.0	1500	$1,725	$1.15	14d	1	0.57mi
58 Elberon Pl Apt 2 Albany, NY	4.0	1.0	1250	$2,200	$1.76	44d	1	0.64mi
223 Western Ave #1 Albany, NY	3.0	1.0	1100	$1,750	$1.59	23d	1	0.65mi
346 Madison Ave Albany, NY	3.0	2.0	1500	$2,495	$1.66	23d	1	0.66mi
346 Madison Ave Unit 3 Albany, NY	3.0	2.0	1110	$2,725	$2.45	44d	1	0.66mi
433 Hamilton St Unit 1 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	0.67mi
32 1st St Albany, NY	4.0	1.5	1773	$1,850	$1.04	44d	1	0.67mi
437 Hamilton St Unit 2 Albany, NY	4.0	1.0	1200	$2,300	$1.92	14d	1	0.68mi
9 St Josephs Ter Albany, NY	3.0	2.0	1000	$1,850	$1.85	44d	1	0.68mi
260 Bradford St Unit 205 Albany, NY	3.0	2.0	912	$1,700	$1.86	23d	1	0.75mi
273 Western Ave Unit 3 Albany, NY	3.0	1.0	1100	$1,850	$1.68	23d	1	0.76mi
273 Western Ave Unit 2 Albany, NY	3.0	1.0	1000	$1,800	$1.80	23d	1	0.76mi
569 Washington Ave Unit 1st Floor Albany, NY	4.0	1.0	1275	$2,000	$1.57	44d	1	0.77mi
4 Irving St Unit 2nd Floor Albany, NY	3.0	1.0	1000	$1,695	$1.70	44d	1	0.77mi
489 Hamilton St Unit 1 Albany, NY	3.0	1.0	1100	$1,800	$1.64	14d	1	0.79mi
201 Park Ave Unit 10 Albany, NY	3.0	2.0	1600	$2,100	$1.31	44d	1	0.82mi
830 Madison Ave Albany, NY	3.0	1.0	1180	$1,700	$1.44	23d	1	0.85mi
517 Hamilton St Albany, NY	4.0	1.0	1020	$2,000	$1.96	23d	1	0.88mi
614 Park Ave Albany, NY	3.0	1.0	1118	$2,500	$2.24	44d	1	0.95mi
546 Mercer St Unit 1 Albany, NY	3.0	1.0	1400	$1,800	$1.29	23d	1	0.97mi
673 Myrtle Ave Albany, NY	4.0	1.0	1076	$2,400	$2.23	21d	1	0.99mi
21 Woodlawn Ave Unit 3rd floor Albany, NY	3.0	1.0	1300	$1,500	$1.15	23d	1	1.07mi
21 Woodlawn Ave Unit 3RDFL Albany, NY	3.0	1.0	1300	$1,500	$1.15	44d	1	1.07mi
119 Grand St Albany, NY	3.0	1.0	1600	$1,300	$0.81	44d	1	1.12mi
602 Morris St Albany, NY	3.0	1.0	1270	$1,850	$1.46	14d	1	1.18mi
168 S Pearl St Albany, NY	3.0	1.5	1044	$1,800	$1.72	23d	1	1.19mi
52 Grove Ave Albany, NY	4.0	1.0	1200	$2,200	$1.83	21d	1	1.23mi
32 Peyster St Unit 2nd Albany, NY	3.0	2.0	1500	$2,300	$1.53	44d	1	1.34mi
104 S Main Ave Unit 1 Albany, NY	3.0	1.0	1300	$2,600	$2.00	44d	1	1.43mi
38 W Erie St Albany, NY	4.0	2.0	1440	$2,800	$1.94	23d	1	1.45mi
11 King Ave Unit 2 Albany, NY	3.0	1.0	1100	$1,600	$1.45	14d	1	1.48mi

Listing history 31 events

1. 2026-06-18
   days on market $180,000 Active 13 DOM
2. 2026-06-17
   days on market $180,000 Active 12 DOM
3. 2026-06-16
   days on market $180,000 Active 11 DOM
4. 2026-06-15
   days on market $180,000 Active 10 DOM
5. 2026-06-14
   statusdays on market $180,000 Active 8 DOM
6. 2026-06-02
   status $180,000 Pending 6 DOM
7. 2026-06-01
   statusdays on market $180,000 Contingent 6 DOM
8. 2026-05-31
   days on market $180,000 Active 5 DOM
9. 2026-05-31
   days on market $180,000 Active 4 DOM
10. 2026-05-26
    listed $180,000 Active
11. 2025-07-11
    soldstatus $117,500
12. 2025-07-09
    soldstatus $117,300 Closed 290-char remark

    Show marketing remark (290 chars)

    Attention Investors !! Looking to start or add to your business portfolio package deal for all 2 properties 510 Clinton Ave. Seller is open to reviewing any and all offer in a written contract. Rops are in place. Tenants stay with the property 48hrs Notice Price to sell quickly . Sold as.

13. 2025-04-07
    status Pending 290-char remark

    Show marketing remark (290 chars)

    Attention Investors !! Looking to start or add to your business portfolio package deal for all 2 properties 510 Clinton Ave. Seller is open to reviewing any and all offer in a written contract. Rops are in place. Tenants stay with the property 48hrs Notice Price to sell quickly . Sold as.

14. 2025-04-03
    historical Contingent 290-char remark

    Show marketing remark (290 chars)

    Attention Investors !! Looking to start or add to your business portfolio package deal for all 2 properties 510 Clinton Ave. Seller is open to reviewing any and all offer in a written contract. Rops are in place. Tenants stay with the property 48hrs Notice Price to sell quickly . Sold as.

15. 2025-04-01
    listed $119,888 Active 290-char remark

    Show marketing remark (290 chars)

    Attention Investors !! Looking to start or add to your business portfolio package deal for all 2 properties 510 Clinton Ave. Seller is open to reviewing any and all offer in a written contract. Rops are in place. Tenants stay with the property 48hrs Notice Price to sell quickly . Sold as.

16. 2025-03-19
    historical
17. 2025-01-02
    listed $139,999 Active
18. 2024-10-18
    status Pending
19. 2024-10-18
    historical
20. 2024-09-15
    price $149,999
21. 2024-07-31
    listed $159,999 Active
22. 2017-01-10
    soldstatus $1,000 Closed (Final Sale)
23. 2016-11-09
    status Pend (Under Cntr)
24. 2016-10-19
    listed $12,000 New
25. 2006-03-31
    soldstatus $75,000
26. 2006-03-29
    soldstatus $75,000
27. 2006-02-06
    historical
28. 2005-12-29
    listed $69,900
29. 2001-02-26
    soldstatus $6,477
30. 2001-01-12
    historical
31. 2000-10-26
    listed $6,400

ⓘ 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: $2,427 · $202/mo
• Projected year-2 tax: $2,735 · $228/mo
• Expected delta: +$307/yr (+$26/mo · 12.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 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: $46,740
• − Mortgage interest: −$10,083
• − Property taxes: −$2,427
• − Insurance: −$1,566
• − Repairs & maintenance: −$3,739
• − Management: −$3,739
• − Depreciation: −$5,236
• Taxable income: $19,949
• Est. tax owed @ 24.0%: −$4,788
• After-tax cash flow: $16,816/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

+2712.5% since first listed

22 events — show timeline

• 2026-05-26 Listed $180,000 Global MLS
• 2025-07-11 Sold (Public Records) $117,500 Public Records
• 2025-07-09 Sold (MLS) $117,300 Global MLS
• 2025-04-07 Pending — Global MLS
• 2025-04-03 Contingent — Global MLS
• 2025-04-01 Listed $119,888 Global MLS
• 2025-03-19 Listing Removed — Global MLS
• 2025-01-02 Listed $139,999 Global MLS
• 2024-10-18 Pending — Global MLS
• 2024-10-18 Listing Removed — Global MLS
• 2024-09-15 Price Changed $149,999 Global MLS
• 2024-07-31 Listed $159,999 Global MLS
• 2017-01-10 Sold (MLS) $1,000 Global MLS
• 2016-11-09 Pending — Global MLS
• 2016-10-19 Listed $12,000 Global MLS
• 2006-03-31 Sold (Public Records) $75,000 Public Records
• 2006-03-29 Sold (MLS) $75,000 Global MLS
• 2006-02-06 Listing Removed — Global MLS
• 2005-12-29 Listed $69,900 Global MLS
• 2001-02-26 Sold (MLS) $6,477 Global MLS
• 2001-01-12 Listing Removed — Global MLS
• 2000-10-26 Listed $6,400 Global MLS

Property tax history

-0.6%/yr

Latest (2025): $2,427 · +4.2% YoY. Source: county tax records.