201 Jay St · Albany, NY 12210

$850,000

8 bd · 4.8 ba · 9,768 sqft · MultiFamily public records · 15 Days on market

Built 1860 3,484 sqft lot

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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).

• Cash flow +13.6/30.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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

Immaculate 4 unit historical building in the heart of Center Square with all modern units and amenities. Each unit has central air, their own washer/dryer & dishwasher, fireplaces, hardwood floors throughout. New tile in bathroom, updated appliances. 3 units have their own private rooftop decks and a shared private courtyard. Front downstairs unit has privatized glass on window that still allows natural light. Amazing investment opportunity or owner occupy. Can be paired with 22 S Lake Ave

Key facts

• Fireplaces
• Washer dryer
• Modern units

Tags

• HISTORICAL MULTIFAMILY
• MODERN UNITS
• CENTRAL AIR
• WASHER DRYER
• DISHWASHER
• FIREPLACES

Property features AI

Finance

• Financial info: Multifamily building with 4 total units

Exterior

• Utilities: Public water; Public sewer
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick exterior

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2–3 bedrooms (records list both 2 and 3); Unit 3: 2–3 bedrooms (records list both 2 and 3); Unit 4: 3 bedrooms
• Bathrooms: Total of 6 bathrooms (4 full, 2 half); Full and half baths located on first and second levels
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfinished basement; Wood-burning fireplace in the living room

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.2-bath units multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $44 ($526/yr) — positive. Per door: $11/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $778k (8.5% below list).
• Recommended offer: $778k (8.5% below list) — sets the bar for 1% rule.

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 (+6.9%/yr); 70 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $7,777/mo this rent would consume 167% of the median local household income ($56k/yr) (locally 1211% 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 $6k of loan paydown is wiped out by about $26k 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

• It's been on market 15 days — a 2% lower offer ($837k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $777,700 (8.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.86% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.57×
• Total profit: $-103,312
• Equity at exit: $126,738

10-year hold

• IRR: 2.7%
• Equity multiple: 1.23×
• Total profit: $54,089
• Equity at exit: $73,492

Cash invested: $238,000 (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 12210

• Home prices YoY: -2.3%
• Rents YoY: 6.9%
• Active inventory: 70
• Price-to-rent: 36.4×

Monthly cashflow live

• Estimated rent: $7,777 high
• Mortgage (P&I): −$4,457
• Tax from tax record: −$1,288 /mo · $15,460/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,633
• Net cashflow: $44

Break-even live

Break-even rent $7,721

Max offer price $850,000

Occupancy floor 94%

Sensitivity live

Price	-10% $525	-5% $284	+0% $44	+5% $-197	+10% $-437
Rent	-10% $-571	-5% $-263	+0% $44	+5% $351	+10% $658
Rate	-1.0pp $472	-0.5pp $260	base $44	+0.5pp $-176	+1.0pp $-400

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.2	$7,776
Total (4 units)			$7,777

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $850,000 Active 15 DOM
2. 2026-06-18
   days on market $850,000 Active 12 DOM
3. 2026-06-17
   days on market $850,000 Active 11 DOM
4. 2026-06-16
   days on market $850,000 Active 10 DOM
5. 2026-06-15
   days on market $850,000 Active 9 DOM
6. 2026-06-14
   days on market $850,000 Active 7 DOM
7. 2026-06-10
   days on market $850,000 Active 4 DOM
8. 2026-06-08
   days on market $850,000 Active 2 DOM
9. 2026-06-07
   remarks 637-char remark
10. 2026-06-07
    listed $850,000 Active 1 DOM

ⓘ 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: $15,460 · $1,288/mo
• Projected year-2 tax: $15,460 · $1,288/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 (unshaded) · 0% 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: $93,324
• − Mortgage interest: −$47,613
• − Property taxes: −$15,460
• − Insurance: −$4,250
• − Repairs & maintenance: −$7,466
• − Management: −$7,466
• − Depreciation: −$24,727
• Taxable loss: −$13,658
• Est. tax savings @ 24.0%: +$3,278
• After-tax cash flow: $3,804/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: 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): 10,297
• Household income: $55,843
• Rent vs Own: 75.3% rent · 24.7% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -5.92%
• Current HPI: 252.3084
• Rent YoY: ▲ 6.86%
• 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

+385.7% since first listed

10 events — show timeline

• 2026-06-04 Listed $850,000 Global MLS
• 2025-06-17 Sold (MLS) $805,000 Global MLS
• 2025-04-16 Pending — Global MLS
• 2025-02-18 Listed $819,500 Global MLS
• 2021-08-20 Sold (Public Records) $710,000 Public Records
• 2021-08-16 Sold (MLS) $710,000 Global MLS
• 2021-06-14 Pending — Global MLS
• 2021-05-20 Listed $700,000 Global MLS
• 2004-09-08 Sold (Public Records) $297,500 Public Records
• 2001-05-18 Sold (Public Records) $175,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $15,460 · -1.6% YoY. Source: county tax records.