1315 Van Cortland St · Schenectady, NY 12303

$239,000

4 bd · 2.0 ba · 1,360 sqft · MultiFamily public records · 8 Days on market

Built 1910 4,791 sqft lot Est $174k · 37% over

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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 +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Two family with lots of rental potential, has all the required city certifications. All buyers and agents must wear a mask, sign the one page NYSAR Covid 19 Disclosure prior to previewing the property. Proof of funds or a pre-qualification letter to accompany all offers. Good Condition

Key facts

• Separate utilities
• Two-family home
• Eat-in kitchen

Tags

• TWO-FAMILY HOME
• QUIET RESIDENTIAL STREET
• VACANT SECOND-FLOOR UNIT
• SPACIOUS LIVING ROOM
• EAT-IN KITCHEN
• SEPARATE UTILITIES

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area listed as 1,360; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Back yard fencing; Lot approximately 0.11 acre

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: 2 full bathrooms (one on the 1st level, one on the 2nd level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive. Per door: $163/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Cap rate 7.9% vs local median 6.3% in Schenectady — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 164 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• This rent runs 38% of the median local income ($84k/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.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 21y 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 $90k; list at $239k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,000

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 1910 — 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: 1.11% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $174,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1041 Strong St	0.50mi	4/2.0	1,400 (+3%)	4mo	$160,000	$114	68
892 Maplewood Ave	0.18mi	4/2.0	1,510 (+11%)	11mo	$200,000	$132	64
1218 9th Ave	0.37mi	4/2.0	1,496 (+10%)	6mo	$192,000	$128	61
956 Strong St	0.41mi	4/2.0	1,280 (-6%)	18mo	$70,000	$55	56
622 Lansing St	0.62mi	4/2.0	1,360 (0%)	21mo	$235,000	$173	53
276 Duane Ave	0.47mi	3/2.0 (-1)	1,300 (-4%)	16mo	$195,000	$150	52
1258 Webster St	0.43mi	3/2.0 (-1)	1,470 (+8%)	20mo	$185,500	$126	45
1015-1017 Second Ave	0.64mi	5/2.0 (+1)	1,440 (+6%)	14mo	$185,000	$128	44
1071-1073 Cutler St	0.63mi	5/2.0 (+1)	1,480 (+9%)	13mo	$140,000	$95	40
139 Duane Ave	0.50mi	4/2.0	1,524 (+12%)	23mo	$195,000	$128	37
1118 Congress St	0.56mi	5/2.0 (+1)	1,484 (+9%)	22mo	$215,000	$145	36
1762 Hamburg St	0.57mi	3/2.0 (-1)	1,514 (+11%)	18mo	$173,000	$114	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-17,797
• Equity at exit: $35,636

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $11,751
• Equity at exit: $20,664

Cash invested: $66,920 (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 12303

• Active inventory: 164
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $2,642 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$407 /mo · $4,887/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $327

Break-even live

Break-even rent $2,228

Max offer price $239,000

Occupancy floor 83%

Sensitivity live

Price	-10% $462	-5% $395	+0% $327	+5% $259	+10% $192
Rent	-10% $118	-5% $223	+0% $327	+5% $431	+10% $536
Rate	-1.0pp $447	-0.5pp $388	base $327	+0.5pp $265	+1.0pp $202

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,642
Total (2 units)			$2,642

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	15d	1	0.41mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	24d	1	0.65mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	15d	1	1.21mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	24d	1	1.24mi
120 De Graff St Schenectady, NY	4.0	1.0	1022	$1,600	$1.57	45d	1	1.24mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	15d	1	1.25mi
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	20d	1	1.26mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	15d	1	1.36mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	15d	9	1.39mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	45d	1	1.48mi

Listing history 7 events

1. 2026-06-14
   statusdays on market $239,000 Pending 8 DOM
2. 2026-06-13
   days on market $239,000 Active 7 DOM
3. 2026-06-10
   days on market $239,000 Active 5 DOM
4. 2026-06-09
   days on market $239,000 Active 4 DOM
5. 2026-06-08
   days on market $239,000 Active 3 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $239,000 Active 2 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: $4,887 · $407/mo
• Projected year-2 tax: $4,887 · $407/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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $31,704
• − Mortgage interest: −$13,388
• − Property taxes: −$4,887
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,536
• − Management: −$2,536
• − Depreciation: −$6,953
• Taxable income: $208
• Est. tax owed @ 24.0%: −$50
• After-tax cash flow: $3,874/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: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 29,360
• Household income: $84,375
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1318.0

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 11% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.01%
• Current HPI: 280.3886
• Rent YoY: —
• 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

+334.5% since first listed

21 events — show timeline

• 2026-06-05 Listed $239,000 Global MLS
• 2020-12-23 Sold (Public Records) $89,500 Public Records
• 2020-12-18 Sold (MLS) $89,900 Global MLS
• 2020-09-30 Pending — Global MLS
• 2020-09-28 Listed $89,900 Global MLS
• 2013-09-03 Sold (MLS) $25,000 Global MLS
• 2013-07-26 Listing Removed — Global MLS
• 2013-02-04 Listed $28,500 Global MLS
• 2012-10-17 Listing Removed — Global MLS
• 2010-11-16 Listed $55,000 Global MLS
• 2008-12-29 Listing Removed — Global MLS
• 2008-06-23 Listed $104,900 Global MLS
• 2006-12-22 Sold (Public Records) $75,000 Public Records
• 2006-12-15 Sold (MLS) $75,000 Global MLS
• 2006-10-06 Listing Removed — Global MLS
• 2006-09-25 Listed $79,900 Global MLS
• 2005-05-06 Sold (Public Records) $43,113 Public Records
• 2005-04-28 Sold (MLS) $43,113 Global MLS
• 2005-03-28 Listing Removed — Global MLS
• 2005-03-18 Listed $40,000 Global MLS
• 1996-12-06 Sold (Public Records) $55,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $4,887 · +4.0% YoY. Source: county tax records.