None · Albany, NY 12209

$265,000

6 bd · 2.0 ba · 2,592 sqft · MultiFamily public records · 3 Days on market

Built 1930 5,227 sqft lot Est $353k · 25% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Welcome to this cash flowing side by side duplex on a quiet street with potential to bring in $2800 monthly! Featuring a BRAND new roof (Nov 2024) and a driveway for off-street parking, this property is generating $1400 for 1 unit with the other unit being delivered vacant in June- making it appealing for homeowners and investors alike. The first unit (left side) boasts hardwood floors throughout and a practical layout that includes a formal dining room and a bright, inviting living room. This unit boasts 1.5 baths, a 2023 hot water heater and 2022 electrical box for peace of mind. The right-side boasts hardwood floors on the main level, a spacious primary bedroom with a walk-in closet, and

Key facts

• 5,227 sq ft lot
• 4 parking spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Cap rate 11.1% 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.
• 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: 47 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 3.0% rent growth), your $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $104k; list at $265k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $265,000

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 1930 — 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: 1.47% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.02%
• DSCR: 1.76
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $352,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41 Barrows St	0.15mi	6/2.0	2,472 (-5%)	2mo	$290,000	$117	84
112 Kenosha St	0.27mi	6/2.0	2,772 (+7%)	3mo	$330,000	$119	73
15 Bertha St	0.23mi	6/2.5	2,428 (-6%)	6mo	$350,100	$144	72
50 Southern Blvd	0.30mi	6/2.0	2,380 (-8%)	2mo	$347,000	$146	71
62 Summit Ave	0.40mi	6/2.5	2,658 (+2%)	6mo	$330,000	$124	70
105 Southern Blvd	0.17mi	5/4.0 (-1)	2,446 (-6%)	1mo	$405,000	$166	69
58 Southern Blvd	0.28mi	6/2.0	2,264 (-13%)	4mo	$350,000	$155	62
10 Putnam St	0.55mi	6/2.0	2,764 (+7%)	4mo	$375,000	$136	60
14 Bogart Ter	0.42mi	6/2.0	2,232 (-14%)	2mo	$250,000	$112	56
278 Morton Ave	0.73mi	6/2.5	2,460 (-5%)	5mo	$195,000	$79	51
9 Mereline Ave	0.58mi	6/2.0	2,204 (-15%)	1mo	$320,000	$145	47
288 Morton Ave	0.72mi	6/4.0	2,973 (+15%)	1mo	$353,000	$119	33

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: 8.3%
• Equity multiple: 1.33×
• Total profit: $24,251
• Equity at exit: $39,512

10-year hold

• IRR: 17.6%
• Equity multiple: 2.46×
• Total profit: $108,121
• Equity at exit: $22,912

Cash invested: $74,200 (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 12209

• Home prices YoY: -7.3%
• Active inventory: 47
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $3,888 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$519 /mo · $6,230/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$816
• Net cashflow: $1,052

Break-even live

Break-even rent $2,556

Max offer price $265,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,202	-5% $1,127	+0% $1,052	+5% $977	+10% $902
Rent	-10% $745	-5% $899	+0% $1,052	+5% $1,206	+10% $1,359
Rate	-1.0pp $1,186	-0.5pp $1,120	base $1,052	+0.5pp $984	+1.0pp $914

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,888
Total (2 units)			$3,888

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-11
   status Pending
2. 2026-04-07
   listed $265,000 Active
3. 2001-11-14
   soldstatus $104,500

ⓘ 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: $6,230 · $519/mo
• Projected year-2 tax: $6,230 · $519/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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: $46,656
• − Mortgage interest: −$14,844
• − Property taxes: −$6,230
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,732
• − Management: −$3,732
• − Depreciation: −$7,709
• Taxable income: $9,083
• Est. tax owed @ 24.0%: −$2,180
• After-tax cash flow: $10,447/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
• City population: 116,921
• Population (ZIP): 10,754

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 0.69)
• Race & ethnicity: White 46% Black 23% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Lithuanian 3% Serbian 1%
• Foreign-born: 18% · Canada, Philippines, South Korea
• Languages at home: 77% English-only · Spanish 13% Other Asian/Pacific 3% Tagalog/Filipino 1%

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: ▼ -24.91%
• Current HPI: 318.0191
• 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

+153.6% since first listed

3 events — show timeline

• 2026-04-11 Pending — Global MLS
• 2026-04-07 Listed $265,000 Global MLS
• 2001-11-14 Sold (Public Records) $104,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $6,230 · +3.0% YoY. Source: county tax records.