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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 is partial owner of the property.
Location
State NY
County 36083
Rooms
Dining Room 0
Kitchen 0
Interior
Furnishings 1
Building
Story 3
Sewer Municipal
Water Municipal
Nearby Locations
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