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$ 475,000
Est. payment | /mo
9 Beds
3 Baths
3,366 SqFt
$ 475,000
Est. payment | /mo
9 Beds
3 Baths
3,366 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,366 sqft
Price per Sqft $141
MLS Listing ID 11943498
Bedrooms 9
Full Baths 3
Year Built 1920
Annual Tax Amount $6,067
Property Description
539 Congress Street is a fully leased, by-the-bedroom student rental on The Hill in Troy, a 2-minute walk to RPI Campus Commons. All nine furnished bedrooms are leased for the 2026-27 academic year at $5,690/month ($68,280/year) across nine individual leases, meaning day-one cash flow. At the $475,000 ask, the property trades at a 10.0% in-place cap rate ($52,778 per bed), a 7.0x GRM, and a 1.76x DSCR at 75% leverage with a 15.4% cash-on-cash return. The building itself is a beautiful brick building with 3 units - one 1-bedroom, and two 4-bedroom units. The units have hardwood floors, come fully furnished, and the common space in the backyard is a great amenity. Listing agent has an ownership interest. Seller will choose the title company for this transaction! Buyer is encouraged to perform their own inspections.
Location
State NY
County 36083
Rooms
Dining Room 0
Kitchen 0
Interior
Furnishings 1
Building
Story 3
Sewer Municipal
Water Municipal
NEARBY SCHOOL & BUSINESS