28 Lancaster St · Cohoes, NY 12047

$159,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 90 Days on market

Built 1890 2,613 sqft lot $204/sqft · 12% below area Est $181k · 12% under

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +12.9/15.0
• DSCR +5.0/10.0
• 1% rule +4.5/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained home is situated on a fenced corner lot in a convenient location close to shopping, dining, and everyday amenities. Enjoy being just a short walk to Main Street and the Cohoes Music Hall, offering both charm and accessibility. Inside, the home offers comfortable one-floor living with two bedrooms, a spacious kitchen with plenty of room and a bright living room for gatherings. The versatile bonus room at the rear of the home provides additional flexibility and can be used as a home office, den, extra storage, game room, etc. This added space allows you to easily adapt the home to fit your needs. A great opportunity for those looking for an affordable alternative to renting, or for anyone seeking easy, low-maintenance living in a convenient location.

Key facts

• One-floor living
• Spacious kitchen
• Bright living room

Tags

• FENCED CORNER LOT
• SHORT WALK TO MAIN STREET
• ONE-FLOOR LIVING
• SPACIOUS KITCHEN
• BRIGHT LIVING ROOM
• VERSATILE BONUS ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $81 ($973/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (4.5% below list).
• Recommended offer: $149k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.7% in Cohoes — 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 83/100 on livability (#61 in NY, #895 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-.
• Cohoes City School District (suburban): math 38% / reading 48% proficiency, ranked #487 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.6%/yr); 114 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $159k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.18%
• DSCR: 1.10
• GRM: 8.7

CMA / ARV

• ARV (median comp): $180,743
• List price: $159,000
• Delta: -12.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Oliver St	0.38mi	2/1.0	819 (+5%)	2mo	$185,000	$226	72
15 Lincoln Ave	0.56mi	2/1.0	816 (+5%)	14mo	$80,000	$98	55
49 Central Ave	0.24mi	3/1.0 (+1)	880 (+13%)	15mo	$148,000	$168	50
29 Conliss Ave	0.63mi	2/1.0	864 (+11%)	24mo	$272,000	$315	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 · 7.6% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.70×
• Total profit: $-13,217
• Equity at exit: $23,707

10-year hold

• IRR: 7.0%
• Equity multiple: 1.64×
• Total profit: $28,452
• Equity at exit: $13,747

Cash invested: $44,520 (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 12047

• Home prices YoY: -10.7%
• Rents YoY: 7.6%
• Active inventory: 114
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$834
• Tax from tax record: −$218 /mo · $2,615/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $81

Break-even live

Break-even rent $1,415

Max offer price $159,000

Occupancy floor 90%

Sensitivity live

Price	-10% $171	-5% $126	+0% $81	+5% $36	+10% $-9
Rent	-10% $-39	-5% $21	+0% $81	+5% $141	+10% $201
Rate	-1.0pp $161	-0.5pp $122	base $81	+0.5pp $40	+1.0pp $-2

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$1,794	$2.08	14d	7	0.16mi
134 Remsen St Cohoes, NY	1.0	1.0	910	$1,550	$1.70	14d	1	0.17mi
130 Remsen St Ph 1 Cohoes, NY	1.0	1.0	600	$1,395	$2.33	24d	1	0.18mi
137 Remsen St Unit 2R Cohoes, NY	1.0	1.0	700	$1,275	$1.82	44d	1	0.19mi
129 Main St Cohoes, NY	2.0	1.0	1104	$1,350	$1.22	44d	1	0.19mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$1,998	$1.73	14d	4	0.23mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	14d	1	0.23mi
236 Saratoga St Unit 2 Cohoes, NY	1.0	1.0	600	$1,150	$1.92	21d	1	0.24mi
113 Mohawk St Unit 1S Cohoes, NY	1.0	1.0	800	$1,350	$1.69	44d	1	0.26mi
159 Main St #2 Cohoes, NY	3.0	1.0	950	$1,295	$1.36	14d	1	0.26mi
32 Wilmer Ave Cohoes, NY	1.0	1.0	528	$1,200	$2.27	24d	1	0.34mi
193 Congress St Unit 2 Cohoes, NY	2.0	2.0	968	$1,600	$1.65	14d	1	0.36mi
12-16 Mangam St Unit 12B Cohoes, NY	2.0	1.0	850	$1,225	$1.44	44d	1	0.53mi
27 Vliet St Cohoes, NY	1.0	1.0	600	$1,050	$1.75	24d	1	0.58mi
1 Hamilton St Unit 1 Cohoes, NY	2.0	1.0	800	$1,095	$1.37	24d	1	0.63mi
28 Leversee Ave Cohoes, NY	2.0	1.0	1000	$1,700	$1.70	44d	1	0.77mi
100 N Mohawk St Cohoes, NY	1.0–3.0	1.0–3.0	1769	$2,842	$1.61	14d	18	0.78mi
87 Park Ave Cohoes, NY	1.0	1.0	600	$995	$1.66	24d	1	0.80mi
1000 Hudson Sq Cohoes, NY	1.0	1.0	714	$1,750	$2.45	14d	3	0.84mi
100 Waters View Cir Cohoes, NY	1.0–2.0	1.0–2.5	1281	$2,413	$1.88	14d	13	1.12mi
386 3rd Ave #1 Troy, NY	3.0	1.0	1024	$1,700	$1.66	14d	1	1.25mi
589 1st Ave Troy, NY	2.0	1.0	960	$1,750	$1.82	14d	1	1.31mi
580 2nd Ave Troy, NY	1.0	1.5	1000	$1,500	$1.50	24d	1	1.36mi
663 2nd Ave Unit 2S Troy, NY	2.0	1.0	650	$1,400	$2.15	24d	1	1.48mi
499 6th Ave Troy, NY	2.0	1.0	750	$1,250	$1.67	21d	1	1.48mi
415 7th Ave Unit 2 Troy, NY	3.0	1.0	850	$1,675	$1.97	14d	1	1.48mi

Listing history 28 events

1. 2026-06-16
   days on market $159,000 Active 90 DOM
2. 2026-06-15
   days on market $159,000 Active 89 DOM
3. 2026-06-14
   days on market $159,000 Active 87 DOM
4. 2026-06-13
   days on market $159,000 Active 86 DOM
5. 2026-06-10
   days on market $159,000 Active 84 DOM
6. 2026-06-09
   days on market $159,000 Active 83 DOM
7. 2026-06-08
   days on market $159,000 Active 82 DOM
8. 2026-06-07
   pricedays on market $159,000 Active 81 DOM
9. 2026-06-03
   days on market $164,000 Active 77 DOM
10. 2026-06-02
    days on market $164,000 Active 76 DOM
11. 2026-06-01
    days on market $164,000 Active 75 DOM
12. 2026-05-31
    days on market $164,000 Active 74 DOM
13. 2026-05-31
    days on market $164,000 Active 73 DOM
14. 2026-05-15
    price $164,000 783-char remark

    Show marketing remark (783 chars)

    This well-maintained home is situated on a fenced corner lot in a convenient location close to shopping, dining, and everyday amenities. Enjoy being just a short walk to Main Street and the Cohoes Music Hall, offering both charm and accessibility. Inside, the home offers comfortable one-floor living with two bedrooms, a spacious kitchen with plenty of room and a bright living room for gatherings. The versatile bonus room at the rear of the home provides additional flexibility and can be used as a home office, den, extra storage, game room, etc. This added space allows you to easily adapt the home to fit your needs. A great opportunity for those looking for an affordable alternative to renting, or for anyone seeking easy, low-maintenance living in a convenient location.

15. 2026-04-21
    price $169,000 783-char remark

    Show marketing remark (783 chars)

    This well-maintained home is situated on a fenced corner lot in a convenient location close to shopping, dining, and everyday amenities. Enjoy being just a short walk to Main Street and the Cohoes Music Hall, offering both charm and accessibility. Inside, the home offers comfortable one-floor living with two bedrooms, a spacious kitchen with plenty of room and a bright living room for gatherings. The versatile bonus room at the rear of the home provides additional flexibility and can be used as a home office, den, extra storage, game room, etc. This added space allows you to easily adapt the home to fit your needs. A great opportunity for those looking for an affordable alternative to renting, or for anyone seeking easy, low-maintenance living in a convenient location.

16. 2026-03-28
    price $175,000 783-char remark

    Show marketing remark (783 chars)

    This well-maintained home is situated on a fenced corner lot in a convenient location close to shopping, dining, and everyday amenities. Enjoy being just a short walk to Main Street and the Cohoes Music Hall, offering both charm and accessibility. Inside, the home offers comfortable one-floor living with two bedrooms, a spacious kitchen with plenty of room and a bright living room for gatherings. The versatile bonus room at the rear of the home provides additional flexibility and can be used as a home office, den, extra storage, game room, etc. This added space allows you to easily adapt the home to fit your needs. A great opportunity for those looking for an affordable alternative to renting, or for anyone seeking easy, low-maintenance living in a convenient location.

17. 2026-03-18
    listed $165,000 Active 783-char remark

    Show marketing remark (783 chars)

    This well-maintained home is situated on a fenced corner lot in a convenient location close to shopping, dining, and everyday amenities. Enjoy being just a short walk to Main Street and the Cohoes Music Hall, offering both charm and accessibility. Inside, the home offers comfortable one-floor living with two bedrooms, a spacious kitchen with plenty of room and a bright living room for gatherings. The versatile bonus room at the rear of the home provides additional flexibility and can be used as a home office, den, extra storage, game room, etc. This added space allows you to easily adapt the home to fit your needs. A great opportunity for those looking for an affordable alternative to renting, or for anyone seeking easy, low-maintenance living in a convenient location.

18. 2022-12-02
    historical
19. 2020-08-21
    soldstatus $70,000 Closed (Final Sale) 247-char remark

    Show marketing remark (247 chars)

    Why rent when you could make this home your own? This well maintained home offers one floor living and a good amount of back yard space. Home is conveniently located close to the bus line. Plenty of space for on street parking. Excellent Condition

20. 2020-07-17
    status Pend (Under Cntr) 247-char remark

    Show marketing remark (247 chars)

    Why rent when you could make this home your own? This well maintained home offers one floor living and a good amount of back yard space. Home is conveniently located close to the bus line. Plenty of space for on street parking. Excellent Condition

21. 2020-07-10
    price $79,900 247-char remark

    Show marketing remark (247 chars)

    Why rent when you could make this home your own? This well maintained home offers one floor living and a good amount of back yard space. Home is conveniently located close to the bus line. Plenty of space for on street parking. Excellent Condition

22. 2020-06-03
    listed $85,000 New 247-char remark

    Show marketing remark (247 chars)

    Why rent when you could make this home your own? This well maintained home offers one floor living and a good amount of back yard space. Home is conveniently located close to the bus line. Plenty of space for on street parking. Excellent Condition

23. 2019-04-11
    soldstatus $62,500 Closed (Final Sale)
24. 2019-03-11
    status Pend (Under Cntr)
25. 2019-02-16
    price $68,000
26. 2018-12-16
    price $69,900
27. 2018-08-03
    price $72,900
28. 2018-03-06
    listed $74,900 New

ⓘ 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: $2,615 · $218/mo
• Projected year-2 tax: $2,651 · $221/mo
• Expected delta: +$36/yr (+$3/mo · 1.4%)

ⓘ 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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,213
• − Mortgage interest: −$8,906
• − Property taxes: −$2,615
• − Insurance: −$795
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$4,625
• Taxable loss: −$1,643
• Est. tax savings @ 24.0%: +$394
• After-tax cash flow: $1,367/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: Cohoes City School District
• NCES district ID: 3607980
• Math proficiency: 38% ▼ -4.00%
• Reading proficiency: 48% ▲ 3.00%
• Median HH income: $45,104
• Composite: 36.48/100
• National rank: #4655
• State rank: #487 of 590 in NY

Livability — Cohoes

• Score: 83/100
• State rank: #61
• US rank: #895

Category grades

Amenities A+ Commute A+ Cost of living B Crime A- Employment C- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cohoes, NY
• County: Albany County · 196,626 people
• City population: 23,532
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 23,532
• Household income: $66,071
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1395.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Two or more races 11% Black 9% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 8% Romanian 6% Iranian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 3% Other Indo-European 3% Chinese 2%

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: ▼ -38.15%
• Current HPI: 317.4057
• Rent YoY: ▲ 7.60%
• Metro: Albany-Schenectady-Troy, NY
• 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

+119.0% since first listed

15 events — show timeline

• 2026-05-15 Price Changed $164,000 Global MLS
• 2026-04-21 Price Changed $169,000 Global MLS
• 2026-03-28 Price Changed $175,000 Global MLS
• 2026-03-18 Listed $165,000 Global MLS
• 2022-12-02 Rental Removed — RENT.
• 2020-08-21 Sold (MLS) $70,000 Global MLS
• 2020-07-17 Pending — Global MLS
• 2020-07-10 Price Changed $79,900 Global MLS
• 2020-06-03 Listed $85,000 Global MLS
• 2019-04-11 Sold (MLS) $62,500 Global MLS
• 2019-03-11 Pending — Global MLS
• 2019-02-16 Price Changed $68,000 Global MLS
• 2018-12-16 Price Changed $69,900 Global MLS
• 2018-08-03 Price Changed $72,900 Global MLS
• 2018-03-06 Listed $74,900 Global MLS

Property tax history

+7.2%/yr

Latest (2025): $2,615 · +0.4% YoY. Source: county tax records.