5 Short St · Cohoes, NY 12047

$329,999

6 bd · 2.0 ba · 2,116 sqft · MultiFamily public records · 96 Days on market

Built 1910 0.31 ac lot $156/sqft · at area comps Est $347k · at est.

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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 +24.2/30.0
• ARV discount +9.7/15.0
• DSCR +7.8/10.0
• 1% rule +6.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

HOUSE HACK OPPORTUNITY - LIVE FOR FREE IN COHOES Fully renovated duplex with immediate cash flow. Unit 1 is vacant and ready for owner-occupant. Unit 2 currently rented at $1,700/month -- tenant covers majority of your mortgage from day one. 6 bedrooms, 2 full baths, 2,116 sq ft Both units completely updated with modern finishes Recent basement waterproofing - new sump pump installed April 2026 Low taxes: $3,785/year Strong rental history INVESTOR MATH: 3.5% down FHA (~$11,900) Monthly mortgage: ~$2,663 PITI Tenant pays: $1,700/month Your cost to live there: ~$963/month Perfect house hack opportunity - tenant covers 64% of your housing cost while you build equity. This is one of the strongest house hack opportunities in the Capital Region. Perfect for first-time investors, owner-occupants looking to offset housing costs, or buy-and-hold portfolios.

Key facts

• Recently remodeled
• New flooring
• Two family property

Tags

• TWO FAMILY PROPERTY
• RECENTLY REMODELED
• NEW FLOORING
• NEW RADIATORS
• COHOES CITY SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $300k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• Zoned schools: Van Schaick Island School (math 54% / reading 54%, grade C, #908 of 2,108 statewide, top 46%, 137 students, 70% FRL); Cohoes Middle School (math 19% / reading 49%, grade F, #497 of 729 statewide, top 69%, 441 students, 68% FRL); Cohoes High School (math 72% / reading 74%, grade B+, #665 of 1,100 statewide, top 61%, 554 students, 63% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 115 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $92k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; list at $330k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,299 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.53%
• DSCR: 1.38
• GRM: 7.5

CMA / ARV

• ARV (median comp): $346,648
• List price: $329,999
• Delta: -4.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Sargent St	0.40mi	6/3.0	2,100 (-1%)	5mo	$290,000	$138	72
150 Bridge Ave	0.42mi	6/2.0	2,200 (+4%)	5mo	$243,000	$110	70
320 Saratoga St	0.56mi	6/2.0	2,156 (+2%)	7mo	$212,500	$99	65
96 Heartt Ave	0.39mi	6/2.0	1,936 (-8%)	5mo	$305,000	$158	64
172 Congress St	0.52mi	5/2.0 (-1)	2,094 (-1%)	8mo	$120,000	$57	62
98 Breslin Ave	0.38mi	6/4.0	2,186 (+3%)	9mo	$325,000	$149	61
44 Clifton St	0.58mi	6/2.0	2,200 (+4%)	8mo	$275,000	$125	60
106 Continental Ave	0.50mi	6/2.0	2,388 (+13%)	1mo	$250,000	$105	55
43 Continental Ave	0.49mi	6/2.0	2,332 (+10%)	7mo	$230,000	$99	54
46 White St	0.34mi	5/2.0 (-1)	1,900 (-10%)	10mo	$250,000	$132	54
119 Congress St	0.45mi	5/2.0 (-1)	2,372 (+12%)	8mo	$207,000	$87	48
52 Grace St	0.70mi	6/2.0	1,804 (-15%)	9mo	$235,000	$130	35

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $2,743
• Equity at exit: $49,204

10-year hold

• IRR: 14.6%
• Equity multiple: 2.43×
• Total profit: $132,508
• Equity at exit: $28,532

Cash invested: $92,400 (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: 115
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $3,683 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$385 /mo · $4,614/yr
• Insurance: −$137
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$773
• Net cashflow: $601

Break-even live

Break-even rent $2,922

Max offer price $329,999

Occupancy floor 79%

Sensitivity live

Price	-10% $788	-5% $695	+0% $601	+5% $508	+10% $415
Rent	-10% $311	-5% $456	+0% $601	+5% $747	+10% $892
Rate	-1.0pp $768	-0.5pp $685	base $601	+0.5pp $516	+1.0pp $429

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,682
Total (2 units)			$3,683

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $329,999 Active 96 DOM
2. 2026-06-18
   days on market $329,999 Active 93 DOM
3. 2026-06-17
   days on market $329,999 Active 92 DOM
4. 2026-06-16
   days on market $329,999 Active 91 DOM
5. 2026-06-15
   days on market $329,999 Active 90 DOM
6. 2026-06-14
   days on market $329,999 Active 88 DOM
7. 2026-06-13
   days on market $329,999 Active 87 DOM
8. 2026-06-10
   days on market $329,999 Active 85 DOM
9. 2026-06-09
   days on market $329,999 Active 84 DOM
10. 2026-06-08
    days on market $329,999 Active 83 DOM
11. 2026-06-07
    days on market $329,999 Active 82 DOM
12. 2026-06-03
    days on market $329,999 Active 78 DOM
13. 2026-06-02
    days on market $329,999 Active 77 DOM
14. 2026-06-01
    days on market $329,999 Active 76 DOM
15. 2026-05-31
    days on market $329,999 Active 75 DOM
16. 2026-05-31
    days on market $329,999 Active 74 DOM
17. 2026-05-12
    price $329,999 884-char remark

    Show marketing remark (884 chars)

    HOUSE HACK OPPORTUNITY - LIVE FOR FREE IN COHOES Fully renovated duplex with immediate cash flow. Unit 1 is vacant and ready for owner-occupant. Unit 2 currently rented at $1,700/month -- tenant covers majority of your mortgage from day one. 6 bedrooms, 2 full baths, 2,116 sq ft Both units completely updated with modern finishes Recent basement waterproofing - new sump pump installed April 2026 Low taxes: $3,785/year Strong rental history INVESTOR MATH: 3.5% down FHA (~$11,900) Monthly mortgage: ~$2,663 PITI Tenant pays: $1,700/month Your cost to live there: ~$963/month Perfect house hack opportunity - tenant covers 64% of your housing cost while you build equity. This is one of the strongest house hack opportunities in the Capital Region. Perfect for first-time investors, owner-occupants looking to offset housing costs, or buy-and-hold portfolios.

18. 2026-04-06
    price $339,999 884-char remark

    Show marketing remark (884 chars)

    HOUSE HACK OPPORTUNITY - LIVE FOR FREE IN COHOES Fully renovated duplex with immediate cash flow. Unit 1 is vacant and ready for owner-occupant. Unit 2 currently rented at $1,700/month -- tenant covers majority of your mortgage from day one. 6 bedrooms, 2 full baths, 2,116 sq ft Both units completely updated with modern finishes Recent basement waterproofing - new sump pump installed April 2026 Low taxes: $3,785/year Strong rental history INVESTOR MATH: 3.5% down FHA (~$11,900) Monthly mortgage: ~$2,663 PITI Tenant pays: $1,700/month Your cost to live there: ~$963/month Perfect house hack opportunity - tenant covers 64% of your housing cost while you build equity. This is one of the strongest house hack opportunities in the Capital Region. Perfect for first-time investors, owner-occupants looking to offset housing costs, or buy-and-hold portfolios.

19. 2026-03-17
    listed $349,999 Active 884-char remark

    Show marketing remark (884 chars)

    HOUSE HACK OPPORTUNITY - LIVE FOR FREE IN COHOES Fully renovated duplex with immediate cash flow. Unit 1 is vacant and ready for owner-occupant. Unit 2 currently rented at $1,700/month -- tenant covers majority of your mortgage from day one. 6 bedrooms, 2 full baths, 2,116 sq ft Both units completely updated with modern finishes Recent basement waterproofing - new sump pump installed April 2026 Low taxes: $3,785/year Strong rental history INVESTOR MATH: 3.5% down FHA (~$11,900) Monthly mortgage: ~$2,663 PITI Tenant pays: $1,700/month Your cost to live there: ~$963/month Perfect house hack opportunity - tenant covers 64% of your housing cost while you build equity. This is one of the strongest house hack opportunities in the Capital Region. Perfect for first-time investors, owner-occupants looking to offset housing costs, or buy-and-hold portfolios.

20. 2025-12-12
    historical $2,200
21. 2025-09-26
    listed $2,200
22. 2025-09-26
    historical $1,700
23. 2025-09-21
    listed $1,700
24. 2024-01-12
    soldstatus $195,000 Closed 470-char remark

    Show marketing remark (470 chars)

    Excellent Opportunity to own an All Brick 2 Family House in the thriving City of Cohoes. Great Owner Occupied or Investment. Completely Vacant. Move right in. 3 Bedrooms over 3 Bedrooms. Located in a desirable and private area of Cohoes with a view of the Hudson River. Walk down to the Hudson River from your backyard. Property is fenced in and has a huge backyard to relax and entertain. Plenty of parking. Don't miss out on this one! Assignment of Contract.

25. 2023-12-20
    status Pending 470-char remark

    Show marketing remark (470 chars)

    Excellent Opportunity to own an All Brick 2 Family House in the thriving City of Cohoes. Great Owner Occupied or Investment. Completely Vacant. Move right in. 3 Bedrooms over 3 Bedrooms. Located in a desirable and private area of Cohoes with a view of the Hudson River. Walk down to the Hudson River from your backyard. Property is fenced in and has a huge backyard to relax and entertain. Plenty of parking. Don't miss out on this one! Assignment of Contract.

26. 2023-12-02
    historical Contingent 470-char remark

    Show marketing remark (470 chars)

    Excellent Opportunity to own an All Brick 2 Family House in the thriving City of Cohoes. Great Owner Occupied or Investment. Completely Vacant. Move right in. 3 Bedrooms over 3 Bedrooms. Located in a desirable and private area of Cohoes with a view of the Hudson River. Walk down to the Hudson River from your backyard. Property is fenced in and has a huge backyard to relax and entertain. Plenty of parking. Don't miss out on this one! Assignment of Contract.

27. 2023-11-10
    price $199,900 470-char remark

    Show marketing remark (470 chars)

    Excellent Opportunity to own an All Brick 2 Family House in the thriving City of Cohoes. Great Owner Occupied or Investment. Completely Vacant. Move right in. 3 Bedrooms over 3 Bedrooms. Located in a desirable and private area of Cohoes with a view of the Hudson River. Walk down to the Hudson River from your backyard. Property is fenced in and has a huge backyard to relax and entertain. Plenty of parking. Don't miss out on this one! Assignment of Contract.

28. 2023-10-27
    listed $209,900 Active 470-char remark

    Show marketing remark (470 chars)

    Excellent Opportunity to own an All Brick 2 Family House in the thriving City of Cohoes. Great Owner Occupied or Investment. Completely Vacant. Move right in. 3 Bedrooms over 3 Bedrooms. Located in a desirable and private area of Cohoes with a view of the Hudson River. Walk down to the Hudson River from your backyard. Property is fenced in and has a huge backyard to relax and entertain. Plenty of parking. Don't miss out on this one! Assignment of Contract.

29. 2023-07-17
    status Pending
30. 2023-07-16
    historical
31. 2023-07-10
    listed $209,900 Active
32. 2014-08-04
    soldstatus $133,000
33. 2014-07-18
    soldstatus $132,978
34. 2014-05-26
    historical
35. 2014-05-01
    listed $139,900

ⓘ 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: $4,614 · $385/mo
• Projected year-2 tax: $5,096 · $425/mo
• Expected delta: +$481/yr (+$40/mo · 10.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% 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: $44,196
• − Mortgage interest: −$18,485
• − Property taxes: −$4,614
• − Insurance: −$2,316
• − Repairs & maintenance: −$3,536
• − Management: −$3,536
• − Depreciation: −$9,600
• Taxable income: $2,109
• Est. tax owed @ 24.0%: −$506
• After-tax cash flow: $6,711/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

+135.9% since first listed

19 events — show timeline

• 2026-05-12 Price Changed $329,999 Global MLS
• 2026-04-06 Price Changed $339,999 Global MLS
• 2026-03-17 Listed $349,999 Global MLS
• 2025-12-12 Rental Removed $2,200 GLOBALMLS
• 2025-09-26 Listed for Rent $2,200 GLOBALMLS
• 2025-09-26 Rental Removed $1,700 GLOBALMLS
• 2025-09-21 Listed for Rent $1,700 GLOBALMLS
• 2024-01-12 Sold (MLS) $195,000 Global MLS
• 2023-12-20 Pending — Global MLS
• 2023-12-02 Contingent — Global MLS
• 2023-11-10 Price Changed $199,900 Global MLS
• 2023-10-27 Listed $209,900 Global MLS
• 2023-07-17 Pending — Global MLS
• 2023-07-16 Listing Removed — Global MLS
• 2023-07-10 Listed $209,900 Global MLS
• 2014-08-04 Sold (Public Records) $133,000 Public Records
• 2014-07-18 Sold (MLS) $132,978 Global MLS
• 2014-05-26 Listing Removed — Global MLS
• 2014-05-01 Listed $139,900 Global MLS

Property tax history

+7.2%/yr

Latest (2025): $4,614 · +0.4% YoY. Source: county tax records.