6 Church St · Nassau, NY 12123

$450,000

9 bd · 9.9 ba · 6,575 sqft · MultiFamily public records · 64 Days on market

Built 1804 0.75 ac lot $68/sqft · 15% below area Est $628k · 28% under

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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 +15.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +6.8/10.0
• Schools +6.1/10.0
• DSCR +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Historic and rare mixed-use opportunity in the heart of the Village of Nassau. 6 Church Street offers flexible zoning with the potential to accommodate office space, a commercial storefront, cafe, or a variety of other small business concepts. Combined with up to eight potential rentable units, this property presents a compelling opportunity for investors, owner-occupants, or entrepreneurs seeking both income and versatility. Located in the village center and serviced by municipal water, this sizable property offers strong upside through renovation, repositioning, or rental use. The generous square footage and adaptable layout allow for multiple configurations -- residential, commercial, or a strategic blend of both. The main building, originally operated as a hotel and bar in the 1800s, currently consists of six rentable units -- four studio layouts (one is currently set up as a bar), a two bedroom apartment, and a one-bedroom apartment. The second building features two one-bedroom apartments upstairs, along with flexible space on the lower level that could accommodate two studio units, a two-bedroom apartment, or a commercial storefront. With ample parking and road frontage on two streets, accessibility and visibility are strong. Positioned directly along the Empire State Rail Trail, the property offers added appeal for boutique retail, cafe concepts, or short-term rental potential. Convenient to village amenities, major routes, and nearby communities, 6 Church Street presents a rare combination of scale, zoning flexibility, historic character, and income potential seldom available in today's market.

Key facts

• Flexible zoning
• Village center
• Municipal water

Tags

• MIXED-USE OPPORTUNITY
• FLEXIBLE ZONING
• POTENTIAL RENTABLE UNITS
• VILLAGE CENTER
• MUNICIPAL WATER
• ADAPTABLE LAYOUT

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive. Per door: $67/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $423k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#570 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A-; Watch: amenities F, commute F, health & safety D-.
• East Greenbush Central School District (suburban): math 68% / reading 71% proficiency, ranked #132 of 590 in NY (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 25 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Rensselaer County population projected to shrink 6% 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 $126k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $45k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $201k; list at $450k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1804 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $423,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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 1804 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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.
10. 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.
11. 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: 1.18% ✓
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 7.1

CMA / ARV

• ARV (median comp): $628,315
• List price: $450,000
• Delta: -28.38%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $258,510
• Equity at exit: $405,396

10-year hold

• IRR: 22.6%
• Equity multiple: 6.97×
• Total profit: $752,434
• Equity at exit: $874,251

Cash invested: $126,000 (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 12123

• Home prices YoY: 8.8%
• Active inventory: 25
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $5,306 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$1,443 /mo · $17,320/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,114
• Net cashflow: $201

Break-even live

Break-even rent $5,051

Max offer price $450,000

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,307
Total (3 units)			$5,306

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $450,000 Active 64 DOM
2. 2026-06-17
   days on market $450,000 Active 63 DOM
3. 2026-06-16
   days on market $450,000 Active 62 DOM
4. 2026-06-15
   days on market $450,000 Active 61 DOM
5. 2026-06-14
   days on market $450,000 Active 59 DOM
6. 2026-06-10
   days on market $450,000 Active 56 DOM
7. 2026-06-09
   days on market $450,000 Active 55 DOM
8. 2026-06-08
   days on market $450,000 Active 54 DOM
9. 2026-06-07
   days on market $450,000 Active 53 DOM
10. 2026-06-05
    days on market $450,000 Active 50 DOM
11. 2026-06-03
    days on market $450,000 Active 49 DOM
12. 2026-06-02
    days on market $450,000 Active 48 DOM
13. 2026-06-01
    days on market $450,000 Active 47 DOM
14. 2026-05-31
    days on market $450,000 Active 46 DOM
15. 2026-05-31
    days on market $450,000 Active 45 DOM
16. 2026-04-22
    price $450,000 1629-char remark

    Show marketing remark (1629 chars)

    Historic and rare mixed-use opportunity in the heart of the Village of Nassau. 6 Church Street offers flexible zoning with the potential to accommodate office space, a commercial storefront, cafe, or a variety of other small business concepts. Combined with up to eight potential rentable units, this property presents a compelling opportunity for investors, owner-occupants, or entrepreneurs seeking both income and versatility. Located in the village center and serviced by municipal water, this sizable property offers strong upside through renovation, repositioning, or rental use. The generous square footage and adaptable layout allow for multiple configurations -- residential, commercial, or a strategic blend of both. The main building, originally operated as a hotel and bar in the 1800s, currently consists of six rentable units -- four studio layouts (one is currently set up as a bar), a two bedroom apartment, and a one-bedroom apartment. The second building features two one-bedroom apartments upstairs, along with flexible space on the lower level that could accommodate two studio units, a two-bedroom apartment, or a commercial storefront. With ample parking and road frontage on two streets, accessibility and visibility are strong. Positioned directly along the Empire State Rail Trail, the property offers added appeal for boutique retail, cafe concepts, or short-term rental potential. Convenient to village amenities, major routes, and nearby communities, 6 Church Street presents a rare combination of scale, zoning flexibility, historic character, and income potential seldom available in today's market.

17. 2026-04-15
    listed $495,000 Active 1629-char remark

    Show marketing remark (1629 chars)

    Historic and rare mixed-use opportunity in the heart of the Village of Nassau. 6 Church Street offers flexible zoning with the potential to accommodate office space, a commercial storefront, cafe, or a variety of other small business concepts. Combined with up to eight potential rentable units, this property presents a compelling opportunity for investors, owner-occupants, or entrepreneurs seeking both income and versatility. Located in the village center and serviced by municipal water, this sizable property offers strong upside through renovation, repositioning, or rental use. The generous square footage and adaptable layout allow for multiple configurations -- residential, commercial, or a strategic blend of both. The main building, originally operated as a hotel and bar in the 1800s, currently consists of six rentable units -- four studio layouts (one is currently set up as a bar), a two bedroom apartment, and a one-bedroom apartment. The second building features two one-bedroom apartments upstairs, along with flexible space on the lower level that could accommodate two studio units, a two-bedroom apartment, or a commercial storefront. With ample parking and road frontage on two streets, accessibility and visibility are strong. Positioned directly along the Empire State Rail Trail, the property offers added appeal for boutique retail, cafe concepts, or short-term rental potential. Convenient to village amenities, major routes, and nearby communities, 6 Church Street presents a rare combination of scale, zoning flexibility, historic character, and income potential seldom available in today's market.

18. 2017-05-05
    historical
19. 2016-11-04
    listed $299,000 New
20. 2008-07-02
    historical
21. 2007-05-05
    listed $299,900
22. 2005-07-06
    soldstatus $201,008
23. 2005-07-06
    soldstatus $135,091

ⓘ 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: $17,320 · $1,443/mo
• Projected year-2 tax: $17,320 · $1,443/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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,672
• − Mortgage interest: −$25,207
• − Property taxes: −$17,320
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,094
• − Management: −$5,094
• − Depreciation: −$13,091
• Taxable loss: −$4,383
• Est. tax savings @ 24.0%: +$1,052
• After-tax cash flow: $3,465/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: East Greenbush Central School District
• NCES district ID: 3609630
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 71% ▲ 2.00%
• Median HH income: $73,174
• Composite: 61.16/100
• National rank: #783
• State rank: #132 of 590 in NY

Livability — Nassau

• Score: 67/100
• State rank: #570
• US rank: #10274

Category grades

Amenities F Commute F Cost of living B Crime A Employment A- Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nassau, NY
• City population: 4,853
• Population (ZIP): 4,853

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Lithuanian 7% Iranian 5%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

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: ▲ 23.93%
• Current HPI: 296.9494
• 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

+123.9% since first listed

8 events — show timeline

• 2026-04-22 Price Changed $450,000 HVCRMLS
• 2026-04-15 Listed $495,000 HVCRMLS
• 2017-05-05 Listing Removed — Global MLS
• 2016-11-04 Listed $299,000 Global MLS
• 2008-07-02 Listing Removed — Global MLS
• 2007-05-05 Listed $299,900 Global MLS
• 2005-07-06 Sold (Public Records) $135,091 Public Records
• 2005-07-06 Sold (Public Records) $201,008 Public Records

Property tax history

+0.3%/yr

Latest (2025): $17,320 · +4.9% YoY. Source: county tax records.