23 Goodman Ave · Troy, NY 12180

$234,000

4 bd · 1.5 ba · 1,745 sqft · SingleFamily public records · 76 Days on market

Built 1949 7,405 sqft lot $134/sqft · 29% below area Est $329k · 29% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.8/30.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this beautiful and spacious home, ideally located just minutes from local shopping and only a 5-minute drive to Samaritan Hospital. Nestled on a quiet private road with no through traffic, it offers the perfect balance of convenience and peace of mind. Inside, you'll find four generously sized bedrooms and two full bathrooms, providing plenty of room for comfortable living. Step outside to enjoy a newly fenced backyard--perfect for relaxing, entertaining, or letting pets play safely. The private driveway accommodates five or more vehicles with ease. Even better, this home is located in the Troy School District, recently ranked #13 in the Capital Region for 2025 by the Business Review More Positives: Stove/fridge 3 years old Dishwasher/washing machine 2 years old Dryer 2 months old Upstairs has new plumbing, new toilet and new vanity/sink 4 bedrooms (2 walk in closets, 2 normal closets) Bedroom upstairs has sky lights New lighting installed in living room with ceiling fan. All bedroom have ceiling fans. 2 full bathrooms (1 on each floor) Full basement with outside access. Fuel tank and roof both 10 years or less Fully fenced in back yard Front and back foyer. And front mudroom.

Key facts

• New lighting
• New plumbing
• New vanity

Tags

• PRIVATE DRIVEWAY
• NEW PLUMBING
• NEW TOILET
• NEW VANITY
• NEW LIGHTING
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (14.1% below list).
• Recommended offer: $200k (14.6% below list) — sets the bar for cash-flow.

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: Ps 18 (math 47% / reading 52%, grade D, #1,085 of 2,108 statewide, top 56%, 309 students, 45% 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) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• This rent runs 32% of the median local income ($76k/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.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $198k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,903 (14.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.86% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.54%
• DSCR: 0.84
• GRM: 9.7

CMA / ARV

• ARV (median comp): $328,735
• List price: $234,000
• Delta: -28.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Goodman Ave	0.16mi	3/2.0 (-1)	1,706 (-2%)	19mo	$435,000	$255	66
10 Cooper Ave	0.63mi	3/1.5 (-1)	1,711 (-2%)	1mo	$332,500	$194	61
7 Riccardi Ln	0.31mi	3/2.0 (-1)	1,958 (+12%)	6mo	$500,092	$255	53
262 Wayne St	0.73mi	5/2.0 (+1)	1,705 (-2%)	5mo	$88,000	$52	51
21 Riccardi Ln	0.44mi	3/2.5 (-1)	1,800 (+3%)	17mo	$469,900	$261	51
25 Riccardi Ln	0.46mi	4/2.5	1,622 (-7%)	17mo	$380,000	$234	48
1 Riccardi Ln	0.37mi	3/1.5 (-1)	1,860 (+7%)	24mo	$377,500	$203	47
31 Mellon Ave	0.49mi	4/2.0	1,512 (-13%)	13mo	$301,500	$199	42
42 N Lake Ave	0.75mi	3/1.5 (-1)	1,580 (-10%)	4mo	$136,000	$86	41
7 Roosevelt Ave	0.19mi	3/1.0 (-1)	1,498 (-14%)	24mo	$210,000	$140	41
7 Putnam St	0.71mi	4/2.0	1,625 (-7%)	19mo	$189,000	$116	38
8 Pickering Ln	0.70mi	3/2.0 (-1)	1,936 (+11%)	14mo	$99,000	$51	31

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: -19.8%
• Equity multiple: 0.29×
• Total profit: $-46,206
• Equity at exit: $34,890

10-year hold

• IRR: -8.8%
• Equity multiple: 0.40×
• Total profit: $-39,012
• Equity at exit: $20,232

Cash invested: $65,520 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,010 medium
• Mortgage (P&I): −$1,227
• Tax from tax record: −$457 /mo · $5,479/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-193

Break-even live

Break-even rent $2,255

Max offer price $199,903

Occupancy floor —

Sensitivity live

Price	-10% $-61	-5% $-127	+0% $-193	+5% $-259	+10% $-325
Rent	-10% $-352	-5% $-272	+0% $-193	+5% $-114	+10% $-34
Rate	-1.0pp $-75	-0.5pp $-133	base $-193	+0.5pp $-254	+1.0pp $-315

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Ridgeway Ln Troy, NY	1.0–3.0	1.0–2.0	1177	$2,310	$1.96	16d	12	0.48mi
288 Hoosick St Troy, NY	3.0	1.0	1800	$695	$0.39	21d	1	1.23mi

Listing history 35 events

1. 2026-06-21
   days on market $234,000 Active 76 DOM
2. 2026-06-18
   days on market $234,000 Active 73 DOM
3. 2026-06-17
   days on market $234,000 Active 72 DOM
4. 2026-06-16
   days on market $234,000 Active 71 DOM
5. 2026-06-15
   days on market $234,000 Active 70 DOM
6. 2026-06-14
   days on market $234,000 Active 68 DOM
7. 2026-06-13
   days on market $234,000 Active 67 DOM
8. 2026-06-10
   days on market $234,000 Active 65 DOM
9. 2026-06-09
   days on market $234,000 Active 64 DOM
10. 2026-06-08
    days on market $234,000 Active 63 DOM
11. 2026-06-07
    days on market $234,000 Active 62 DOM
12. 2026-06-03
    days on market $234,000 Active 58 DOM
13. 2026-06-02
    days on market $234,000 Active 57 DOM
14. 2026-06-01
    days on market $234,000 Active 56 DOM
15. 2026-05-31
    days on market $234,000 Active 55 DOM
16. 2026-05-31
    days on market $234,000 Active 54 DOM
17. 2026-04-15
    status Active 1204-char remark

    Show marketing remark (1204 chars)

    Discover this beautiful and spacious home, ideally located just minutes from local shopping and only a 5-minute drive to Samaritan Hospital. Nestled on a quiet private road with no through traffic, it offers the perfect balance of convenience and peace of mind. Inside, you'll find four generously sized bedrooms and two full bathrooms, providing plenty of room for comfortable living. Step outside to enjoy a newly fenced backyard--perfect for relaxing, entertaining, or letting pets play safely. The private driveway accommodates five or more vehicles with ease. Even better, this home is located in the Troy School District, recently ranked #13 in the Capital Region for 2025 by the Business Review More Positives: Stove/fridge 3 years old Dishwasher/washing machine 2 years old Dryer 2 months old Upstairs has new plumbing, new toilet and new vanity/sink 4 bedrooms (2 walk in closets, 2 normal closets) Bedroom upstairs has sky lights New lighting installed in living room with ceiling fan. All bedroom have ceiling fans. 2 full bathrooms (1 on each floor) Full basement with outside access. Fuel tank and roof both 10 years or less Fully fenced in back yard Front and back foyer. And front mudroom.

18. 2026-03-23
    status Pending 1204-char remark

    Show marketing remark (1204 chars)

    Discover this beautiful and spacious home, ideally located just minutes from local shopping and only a 5-minute drive to Samaritan Hospital. Nestled on a quiet private road with no through traffic, it offers the perfect balance of convenience and peace of mind. Inside, you'll find four generously sized bedrooms and two full bathrooms, providing plenty of room for comfortable living. Step outside to enjoy a newly fenced backyard--perfect for relaxing, entertaining, or letting pets play safely. The private driveway accommodates five or more vehicles with ease. Even better, this home is located in the Troy School District, recently ranked #13 in the Capital Region for 2025 by the Business Review More Positives: Stove/fridge 3 years old Dishwasher/washing machine 2 years old Dryer 2 months old Upstairs has new plumbing, new toilet and new vanity/sink 4 bedrooms (2 walk in closets, 2 normal closets) Bedroom upstairs has sky lights New lighting installed in living room with ceiling fan. All bedroom have ceiling fans. 2 full bathrooms (1 on each floor) Full basement with outside access. Fuel tank and roof both 10 years or less Fully fenced in back yard Front and back foyer. And front mudroom.

19. 2026-03-11
    listed $249,900 Active 1204-char remark

    Show marketing remark (1204 chars)

    Discover this beautiful and spacious home, ideally located just minutes from local shopping and only a 5-minute drive to Samaritan Hospital. Nestled on a quiet private road with no through traffic, it offers the perfect balance of convenience and peace of mind. Inside, you'll find four generously sized bedrooms and two full bathrooms, providing plenty of room for comfortable living. Step outside to enjoy a newly fenced backyard--perfect for relaxing, entertaining, or letting pets play safely. The private driveway accommodates five or more vehicles with ease. Even better, this home is located in the Troy School District, recently ranked #13 in the Capital Region for 2025 by the Business Review More Positives: Stove/fridge 3 years old Dishwasher/washing machine 2 years old Dryer 2 months old Upstairs has new plumbing, new toilet and new vanity/sink 4 bedrooms (2 walk in closets, 2 normal closets) Bedroom upstairs has sky lights New lighting installed in living room with ceiling fan. All bedroom have ceiling fans. 2 full bathrooms (1 on each floor) Full basement with outside access. Fuel tank and roof both 10 years or less Fully fenced in back yard Front and back foyer. And front mudroom.

20. 2026-02-10
    status Pending
21. 2026-01-27
    historical
22. 2025-10-27
    price $249,900
23. 2025-09-08
    price $259,900
24. 2025-08-27
    price $269,900
25. 2025-08-12
    listed $274,900 Active
26. 2022-05-24
    soldstatus $197,500
27. 2022-05-19
    soldstatus $197,600 Closed
28. 2022-03-23
    status Pending
29. 2022-03-18
    listed $175,000 Active
30. 2022-01-20
    historical
31. 2021-12-14
    status Pending
32. 2021-06-05
    status Pend (Under Cntr)
33. 2021-05-12
    price $209,900
34. 2021-04-26
    listed $219,000 New
35. 2004-10-06
    soldstatus $120,000

ⓘ 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: $5,479 · $457/mo
• Projected year-2 tax: $5,479 · $457/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,124
• − Mortgage interest: −$13,108
• − Property taxes: −$5,479
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$6,807
• Taxable loss: −$6,299
• Est. tax savings @ 24.0%: +$1,512
• After-tax cash flow: $-804/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

• 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

+108.2% since first listed

19 events — show timeline

• 2026-04-15 Relisted — Global MLS
• 2026-03-23 Pending — Global MLS
• 2026-03-11 Listed $249,900 Global MLS
• 2026-02-10 Pending — Global MLS
• 2026-01-27 Listing Removed — Global MLS
• 2025-10-27 Price Changed $249,900 Global MLS
• 2025-09-08 Price Changed $259,900 Global MLS
• 2025-08-27 Price Changed $269,900 Global MLS
• 2025-08-12 Listed $274,900 Global MLS
• 2022-05-24 Sold (Public Records) $197,500 Public Records
• 2022-05-19 Sold (MLS) $197,600 Global MLS
• 2022-03-23 Pending — Global MLS
• 2022-03-18 Listed $175,000 Global MLS
• 2022-01-20 Listing Removed — Global MLS
• 2021-12-14 Pending — Global MLS
• 2021-06-05 Pending — Global MLS
• 2021-05-12 Price Changed $209,900 Global MLS
• 2021-04-26 Listed $219,000 Global MLS
• 2004-10-06 Sold (Public Records) $120,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $5,479 · +4.8% YoY. Source: county tax records.