6 Pine St · Albany, NY 12203

$220,000

3 bd · 1.5 ba · 1,096 sqft · SingleFamily public records · 6 Days on market

Built 1940 6,098 sqft lot Est $279k · 21% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• Schools +5.7/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRIME LOCATION & AWESOME OPPORTUNITY TO PUT YOUR FINAL PERSONAL TOUCHES ON THIS 2-3 BEDROOM 2 FULL BATH HOME. HOME FEATURES: LARGE KITCHEN & DINING, LIVING ROOM, FIRST FLOOR FULL BATH & COMBINED 1ST FLOOR LAUNDRY, WASHER & DRYER INCLUDED, 2-3 BEDROOMS ON THE 2ND FLOOR W FULL BATH. THAT INCLUDES A PRIMARY BEDROOM THAT LEADS TO A BEAUTIFUL WALK OUT COMPOSITE DECK TO ENJOY, NEWER CUSTOM SHED OUT BACK INCLUDED THAT INCLUDES A NICE YARD TO ENJOY. AMPLE PARKING OUTFRONT, STAY COOL DURING SUMMER MONTHS WITH CENTRAL AIR. HOME IS CLOSE TO SCHOOLS, STUYVESANT PLAZA, CROSSGATES MALL, HIGHWAY ACCESS, PARKS, LOCAL RESTUARANTS & SHOPPING. AWESOME OPPORTUNITY TO PUT YOUR FINA

Key facts

• Ample parking
• Large kitchen
• Central air

Tags

• LARGE KITCHEN
• FIRST FLOOR FULL BATH
• COMBINED 1ST FLOOR LAUNDRY
• NEWER CUSTOM SHED
• AMPLE PARKING
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (3.7% below list).
• Recommended offer: $212k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Guilderland Elementary School (math 62% / reading 67%, grade B, #591 of 2,108 statewide, top 31%, 475 students, 22% FRL); Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Zoned-school proficiency averages 77% at this address vs 64% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Guilderland Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.9%/yr); 124 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 31% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 25y 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 $76k; list at $220k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,855 (3.7% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $279,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
442 Russell Rd	0.18mi	2/1.0 (-1)	1,102 (+0%)	1mo	$341,237	$310	83
6 Monroe Ave	0.18mi	3/1.0	1,009 (-8%)	8mo	$250,000	$248	70
462 Russell Rd	0.20mi	3/1.5	1,216 (+11%)	7mo	$310,000	$255	67
5 Tryon Ct	0.46mi	2/1.5 (-1)	1,107 (+1%)	6mo	$270,000	$244	67
39 Taft Ave	0.66mi	3/1.0	1,150 (+5%)	0mo	$292,000	$254	58
45 Fountain Ave	0.45mi	2/1.0 (-1)	1,160 (+6%)	6mo	$215,000	$185	57
36 Fay St	0.38mi	3/2.0	1,232 (+12%)	6mo	$332,500	$270	54
12 Gage Ave	0.41mi	3/1.5	936 (-15%)	6mo	$260,000	$278	52
96 Hazelhurst Ave	0.56mi	4/1.0 (+1)	1,188 (+8%)	5mo	$255,000	$215	49
32 Homestead St	0.56mi	2/1.0 (-1)	981 (-10%)	5mo	$219,900	$224	45
36 Edenburg Ave	0.59mi	2/1.0 (-1)	936 (-15%)	4mo	$245,000	$262	38
99 Vaughn Dr	0.71mi	3/2.5	1,255 (+14%)	7mo	$339,000	$270	33

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.70×
• Total profit: $-18,547
• Equity at exit: $32,803

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-900
• Equity at exit: $19,022

Cash invested: $61,600 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 124
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,119 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$121 /mo · $1,449/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $308

Break-even live

Break-even rent $1,729

Max offer price $220,000

Occupancy floor 80%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 The Concourse Unit 21 Albany, NY	2.0	1.0	1200	$2,000	$1.67	13d	1	0.28mi
32 Moreland Ave Unit NA Albany, NY	3.0	1.5	1500	$2,300	$1.53	21d	1	0.31mi
416 Greenhill Ct Albany, NY	2.0	1.5	1350	$2,200	$1.63	43d	1	0.42mi
2 Friebel Rd Albany, NY	3.0	2.0	1392	$2,200	$1.58	13d	1	0.98mi
1 Colatosti Pl Albany, NY	2.0	1.0	1000	$1,595	$1.59	14d	1	1.00mi
55 Woodlake Rd Albany, NY	1.0–2.0	1.0–2.0	903	$2,050	$2.27	13d	1	1.06mi
845 New Scotland Ave Unit 4 Albany, NY	2.0	1.0	800	$1,450	$1.81	43d	1	1.15mi
9 Circle Ln Albany, NY	2.0	1.0	771	$1,805	$2.34	14d	1	1.18mi
53 Greenway N Albany, NY	3.0	2.0	1500	$2,600	$1.73	23d	1	1.44mi

Listing history 23 events

1. 2026-04-22
   status Pending
2. 2026-04-16
   listed $220,000 Active
3. 2026-03-10
   price $225,000
4. 2026-03-09
   status Active
5. 2026-02-05
   status Pending
6. 2026-02-05
   historical
7. 2026-01-18
   status Active
8. 2025-12-11
   status Pending
9. 2025-12-03
   price $235,000
10. 2025-10-09
    price $245,000
11. 2025-09-10
    listed $260,000 Active
12. 2024-10-13
    historical $900
13. 2024-10-07
    listed $900
14. 2024-09-19
    historical $1,100
15. 2024-09-12
    listed $1,100
16. 2019-02-04
    historical
17. 2018-12-01
    listed $546,000 New
18. 2002-04-11
    soldstatus $76,000
19. 2002-04-08
    soldstatus $76,000
20. 2002-01-28
    soldstatus $98,000
21. 2001-12-05
    listed $75,900
22. 2001-08-13
    historical
23. 2001-04-30
    listed $125,000

ⓘ 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: $1,449 · $121/mo
• Projected year-2 tax: $2,583 · $215/mo
• Expected delta: +$1,135/yr (+$95/mo · 78.3%)

ⓘ 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 ≥98°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: $25,423
• − Mortgage interest: −$12,323
• − Property taxes: −$1,449
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,034
• − Management: −$2,034
• − Depreciation: −$6,400
• Taxable income: $83
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $3,671/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 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

• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 2%

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: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• 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

+76.0% since first listed

23 events — show timeline

• 2026-04-22 Pending — Global MLS
• 2026-04-16 Listed $220,000 Global MLS
• 2026-03-10 Price Changed $225,000 Global MLS
• 2026-03-09 Relisted — Global MLS
• 2026-02-05 Pending — Global MLS
• 2026-02-05 Listing Removed — Global MLS
• 2026-01-18 Relisted — Global MLS
• 2025-12-11 Pending — Global MLS
• 2025-12-03 Price Changed $235,000 Global MLS
• 2025-10-09 Price Changed $245,000 Global MLS
• 2025-09-10 Listed $260,000 Global MLS
• 2024-10-13 Rental Removed $900 LEASESTAR
• 2024-10-07 Listed for Rent $900 LEASESTAR
• 2024-09-19 Rental Removed $1,100 LEASESTAR
• 2024-09-12 Listed for Rent $1,100 LEASESTAR
• 2019-02-04 Listing Removed — Global MLS
• 2018-12-01 Listed $546,000 Global MLS
• 2002-04-11 Sold (Public Records) $76,000 Public Records
• 2002-04-08 Sold (MLS) $76,000 Global MLS
• 2002-01-28 Sold (MLS) $98,000 Global MLS
• 2001-12-05 Listed $75,900 Global MLS
• 2001-08-13 Listing Removed — Global MLS
• 2001-04-30 Listed $125,000 Global MLS

Property tax history

-0.9%/yr

Latest (2025): $1,449 · +3.0% YoY. Source: county tax records.