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Values up to $490K in Albany
Updated today • 3 new comps
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Turnkey Rental
42 Collins Place shows strong rental potential with monthly income projected between $2,554 and $2,988. These figures highlight an attractive market position, offering investors a solid yield of 14.16% based on local market rates. Beyond monthly cash flow, the property benefits from a steady annual appreciation estimate of $6,792. This combination of consistent rental income and market growth makes the home a compelling opportunity for building long-term portfolio value.
More about this home
Neighborhood Assessment
42 Collins Place sits in Albany's New Scotland neighborhood, steps from Buckingham Lake and hotspots like Restaurant 605 and Salsa Latina. You've got solid schools nearby—New Scotland Elementary rates a 6/10—plus walkable access to worship spots and St. Peters hospital. Comps show steady values around 290K-300K for similar 3-bed homes, signaling a stable, family-friendly area with low environmental risks.[50 words] It's a handyman special at $235K for 1,931 sqft with 3 beds/3 baths, priced competitively at $122/sqft. Recent buyer financing fell through, but neighborhood demand looks firm with quick turnover on nearby sales like 46 Collins Pl.
Market Activity
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Rental Income
$33K
Yield
14.2%
Appreciation
$7K
Year 1 Estimates
Fix-and-Flip
Modernizing a property adds distinct appeal, driving the price per square foot from $212 to $239—a 13% increase. This enhancement boosts potential sale prices up to $485,000 and lifts monthly rental income to over $3,000. Upgrades create a polished, turn-key experience that attracts premium buyers and tenants. With a projected value add of $52,358, this investment is a smart strategy to build long-term equity while enjoying a refreshed, modern lifestyle.
Value Add
$52K
Appreciation
$13K
Post Typical Renovation
Buy-Rehab-Rent
This property shows solid potential for value creation. Renovations can push the market value to between $439,000 and $485,000, capitalizing on the $27 per square foot uplift identified in current neighborhood sales trends. The investment offers a reliable projected yield of 7.6%. With monthly rental income estimated at $2,937, the property balances steady cash flow with meaningful long-term appreciation, making it a sound candidate for a BRR strategy.
Rental Income
$35K
Yield
7.6%
Appreciation
$13K
Year 1 Estimates, Post Typical Renovation
Estimated value
$235K
$222.6K below comp median
Comparative Market Analysis
$270K – $520K
~69 days to sell
Based on 8 comps
42 Collins Place, Albany Investment Report: Flip & Rental Analysis · Frontflip