530 Yates St · Albany, NY 12208

$199,900

8 bd · 3.0 ba · 3,212 sqft · MultiFamily public records · 28 Days on market

Built 1903 3,920 sqft lot $62/sqft · 63% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This property is an amazing investor opportunity to bring this 3 Family property back to life. Great potential buy and hold or flip project. Located in the heart of Pine Hills and close proximity to the Downtown UAlbany Campus, Albany College of Pharmacy, Albany Law School, Albany Med, Saint Peters Hospital, and all that Downtown Albany has to offer. Property to be SOLD ''AS IS''.

Key facts

• 3,920 sq ft lot
• 2 parking spots
• Built 1903

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $932/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.1% 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.
• Market conditions: Rents rising fast (+5.0%/yr); 99 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $5,323/mo this rent would consume 91% of the median local household income ($70k/yr) (locally 1952% 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 $1k of loan paydown is wiped out by about $6k 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 + 5.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,901 (1.5% 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 1903 — 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. 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.
7. 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.
8. 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: 2.66% ✓
• Cap rate: 23.08%
• Cash-on-cash: 59.96%
• DSCR: 3.67
• GRM: 3.1

CMA / ARV

• ARV (median comp): $544,992
• List price: $199,900
• Delta: -63.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Western Ave	0.42mi	8/2.0	3,130 (-3%)	1mo	$333,300	$106	71
248 Morris St	0.52mi	7/3.0 (-1)	3,048 (-5%)	3mo	$359,000	$118	60
569 Park Ave	0.34mi	8/4.0	3,328 (+4%)	21mo	$450,000	$135	57
535 Hamilton St	0.14mi	7/2.0 (-1)	2,778 (-14%)	9mo	$349,900	$126	54
158 Quail St	0.49mi	8/3.0	3,582 (+12%)	14mo	$270,000	$75	46
488 Western Ave	0.37mi	8/5.0	3,440 (+7%)	23mo	$465,000	$135	44
405 Manning Blvd	0.63mi	8/5.0	3,000 (-7%)	13mo	$265,000	$88	41
20 S Allen St	0.55mi	8/5.0	3,531 (+10%)	14mo	$345,000	$98	38

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 61.0%
• Equity multiple: 3.81×
• Total profit: $157,048
• Equity at exit: $29,806

10-year hold

• IRR: 66.4%
• Equity multiple: 8.41×
• Total profit: $414,474
• Equity at exit: $17,284

Cash invested: $55,972 (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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 99
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $5,323 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$277 /mo · $3,319/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,118
• Net cashflow: $2,797

Break-even live

Break-even rent $1,783

Max offer price $199,900

Occupancy floor 42%

Sensitivity live

Price	-10% $2,910	-5% $2,854	+0% $2,797	+5% $2,740	+10% $2,684
Rent	-10% $2,376	-5% $2,587	+0% $2,797	+5% $3,007	+10% $3,217
Rate	-1.0pp $2,898	-0.5pp $2,848	base $2,797	+0.5pp $2,745	+1.0pp $2,692

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,322
Total (3 units)			$5,323

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-13
   status Pending 383-char remark

   Show marketing remark (383 chars)

   This property is an amazing investor opportunity to bring this 3 Family property back to life. Great potential buy and hold or flip project. Located in the heart of Pine Hills and close proximity to the Downtown UAlbany Campus, Albany College of Pharmacy, Albany Law School, Albany Med, Saint Peters Hospital, and all that Downtown Albany has to offer. Property to be SOLD ''AS IS''.

2. 2026-04-15
   listed $199,900 Active 383-char remark

   Show marketing remark (383 chars)

   This property is an amazing investor opportunity to bring this 3 Family property back to life. Great potential buy and hold or flip project. Located in the heart of Pine Hills and close proximity to the Downtown UAlbany Campus, Albany College of Pharmacy, Albany Law School, Albany Med, Saint Peters Hospital, and all that Downtown Albany has to offer. Property to be SOLD ''AS IS''.

3. 2023-01-29
   status Pending 114-char remark

   Show marketing remark (114 chars)

   ARV $265,000, Est.Reno $85,000 -Bring this Gem back to life and Cash Flow all the way to the bank! Home Sold AS-IS

4. 2023-01-28
   listed $110,000 Active 114-char remark

   Show marketing remark (114 chars)

   ARV $265,000, Est.Reno $85,000 -Bring this Gem back to life and Cash Flow all the way to the bank! Home Sold AS-IS

ⓘ 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: $3,319 · $277/mo
• Projected year-2 tax: $3,349 · $279/mo
• Expected delta: +$29/yr (+$2/mo · 0.9%)

ⓘ 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 · 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: $63,876
• − Mortgage interest: −$11,198
• − Property taxes: −$3,319
• − Insurance: −$1,000
• − Repairs & maintenance: −$5,110
• − Management: −$5,110
• − Depreciation: −$5,815
• Taxable income: $32,324
• Est. tax owed @ 24.0%: −$7,758
• After-tax cash flow: $25,806/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): 23,289
• Household income: $70,413
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1952.0

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 (66%)
• Race & ethnicity: White 66% Black 12% Asian 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Italian 3% Scotch-Irish 3%
• Foreign-born: 16% · Canada, China, Philippines
• Languages at home: 83% English-only · Other Indo-European 4% Other Asian/Pacific 3% French/Haitian/Cajun 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: ▼ -120.46%
• Current HPI: 279.716
• Rent YoY: ▲ 5.05%
• 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

+81.7% since first listed

4 events — show timeline

• 2026-05-13 Pending — Global MLS
• 2026-04-15 Listed $199,900 Global MLS
• 2023-01-29 Pending — Global MLS
• 2023-01-28 Listed $110,000 Global MLS

Property tax history

-4.9%/yr

Latest (2025): $3,319 · -0.6% YoY. Source: county tax records.