539 Congress St
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. Buyer is encouraged to perform their own inspections.
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $475,000 |
| Year Built: | 1920 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 9 |
| Number of Bathrooms: | 3 |
ID: 3yd-NYSMLS-11943498
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