8 Saratoga Ave · Cohoes, NY 12188

$388,000

24 bd · 16.0 ba · 5,727 sqft · MultiFamily public records · 20 Days on market

Built 1940 10,018 sqft lot $68/sqft · 45% below area Est $468k · 17% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

8 Saratoga Avenue in Waterford, NY, is a high-potential investment property, specifically a Victorian multi-family home that has been converted into a legal 4-unit building. The property offers significant value-add opportunities for investors looking to capitalize on its unique layout and scenic location overlooking the Mohawk River. The property includes off-street parking for 4+ vehicles, washer/dryer in each unit, and a large front porch with direct Mohawk River views. Prime Location: Located near the bridge connecting Waterford with Cohoes, it offers easy access to I-787 for commuters. Strict 24hr notice.

Key facts

• Large front porch
• Off-street parking
• 0.23 acre lot

Tags

• VICTORIAN MULTI-FAMILY HOME
• LEGAL 4-UNIT BUILDING
• OFF-STREET PARKING
• WASHER DRYER IN EACH UNIT
• LARGE FRONT PORCH
• DIRECT MOHAWK RIVER VIEWS

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $388k.

Deal economics

• At list price, monthly cash flow is $5k ($60k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $388k).
• Recommended offer: $382k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.8% 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-.
• Waterford-Halfmoon Union Free School District (rural): math 60% / reading 54% proficiency, ranked #322 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $9,954/mo this rent would consume 129% of the median local household income ($92k/yr) (locally 129% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($382k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $235k; list at $388k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $382,180 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.57% ✓
• Cap rate: 21.83%
• Cash-on-cash: 55.48%
• DSCR: 3.47
• GRM: 3.2

CMA / ARV

• ARV (median comp): $467,743
• List price: $388,000
• Delta: -17.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.8%
• Equity multiple: 3.37×
• Total profit: $257,287
• Equity at exit: $57,852

10-year hold

• IRR: 59.0%
• Equity multiple: 6.86×
• Total profit: $636,986
• Equity at exit: $33,547

Cash invested: $108,640 (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 12188

• Home prices YoY: -13.3%
• Active inventory: 48
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $9,954 medium
• Mortgage (P&I): −$2,035
• Tax from tax record: −$644 /mo · $7,733/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,090
• Net cashflow: $5,023

Break-even live

Break-even rent $3,596

Max offer price $388,000

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$9,952
Total (4 units)			$9,954

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: $97,000
• Closing costs: $11,640
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-06
   status Pending 619-char remark

   Show marketing remark (619 chars)

   8 Saratoga Avenue in Waterford, NY, is a high-potential investment property, specifically a Victorian multi-family home that has been converted into a legal 4-unit building. The property offers significant value-add opportunities for investors looking to capitalize on its unique layout and scenic location overlooking the Mohawk River. The property includes off-street parking for 4+ vehicles, washer/dryer in each unit, and a large front porch with direct Mohawk River views. Prime Location: Located near the bridge connecting Waterford with Cohoes, it offers easy access to I-787 for commuters. Strict 24hr notice.

2. 2026-04-28
   price $388,000 619-char remark

   Show marketing remark (619 chars)

   8 Saratoga Avenue in Waterford, NY, is a high-potential investment property, specifically a Victorian multi-family home that has been converted into a legal 4-unit building. The property offers significant value-add opportunities for investors looking to capitalize on its unique layout and scenic location overlooking the Mohawk River. The property includes off-street parking for 4+ vehicles, washer/dryer in each unit, and a large front porch with direct Mohawk River views. Prime Location: Located near the bridge connecting Waterford with Cohoes, it offers easy access to I-787 for commuters. Strict 24hr notice.

3. 2026-04-16
   listed $398,000 Active 619-char remark

   Show marketing remark (619 chars)

   8 Saratoga Avenue in Waterford, NY, is a high-potential investment property, specifically a Victorian multi-family home that has been converted into a legal 4-unit building. The property offers significant value-add opportunities for investors looking to capitalize on its unique layout and scenic location overlooking the Mohawk River. The property includes off-street parking for 4+ vehicles, washer/dryer in each unit, and a large front porch with direct Mohawk River views. Prime Location: Located near the bridge connecting Waterford with Cohoes, it offers easy access to I-787 for commuters. Strict 24hr notice.

4. 2017-07-07
   soldstatus $235,000
5. 2017-06-07
   soldstatus $235,000 Closed (Final Sale) 194-char remark

   Show marketing remark (194 chars)

   This lovely Victorian has been renovated. All leased and ready to go! Washer and dryer hookups in each unit. Off street parking. Mohawk River view. Shown by appointment only. Very Good Condition

6. 2017-04-26
   status Pend (Under Cntr) 194-char remark

   Show marketing remark (194 chars)

   This lovely Victorian has been renovated. All leased and ready to go! Washer and dryer hookups in each unit. Off street parking. Mohawk River view. Shown by appointment only. Very Good Condition

7. 2017-04-24
   price $289,900 194-char remark

   Show marketing remark (194 chars)

   This lovely Victorian has been renovated. All leased and ready to go! Washer and dryer hookups in each unit. Off street parking. Mohawk River view. Shown by appointment only. Very Good Condition

8. 2017-04-23
   status Price Change 194-char remark

   Show marketing remark (194 chars)

   This lovely Victorian has been renovated. All leased and ready to go! Washer and dryer hookups in each unit. Off street parking. Mohawk River view. Shown by appointment only. Very Good Condition

9. 2017-04-22
   historical 194-char remark

   Show marketing remark (194 chars)

   This lovely Victorian has been renovated. All leased and ready to go! Washer and dryer hookups in each unit. Off street parking. Mohawk River view. Shown by appointment only. Very Good Condition

10. 2017-03-16
    listed $279,900 New 194-char remark

    Show marketing remark (194 chars)

    This lovely Victorian has been renovated. All leased and ready to go! Washer and dryer hookups in each unit. Off street parking. Mohawk River view. Shown by appointment only. Very Good Condition

11. 2014-06-29
    historical
12. 2014-04-07
    listed $294,000
13. 2013-06-25
    soldstatus $150,000
14. 2013-06-21
    soldstatus $150,000
15. 2013-05-06
    historical
16. 2013-02-18
    listed $169,900

ⓘ 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: $7,733 · $644/mo
• Projected year-2 tax: $7,733 · $644/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 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: $119,448
• − Mortgage interest: −$21,734
• − Property taxes: −$7,733
• − Insurance: −$1,940
• − Repairs & maintenance: −$9,556
• − Management: −$9,556
• − Depreciation: −$11,287
• Taxable income: $57,642
• Est. tax owed @ 24.0%: −$13,834
• After-tax cash flow: $46,441/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: Waterford-Halfmoon Union Free School District
• NCES district ID: 3630060
• Math proficiency: 60% ▲ 3.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $53,359
• Composite: 50.65/100
• National rank: #3943
• State rank: #322 of 755 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

• County: Saratoga County · 166,192 people
• City population: 23,532
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,988
• Household income: $92,279
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 129.0

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Two or more races 4% Black 3% Native American 2% Asian 1%
• Common ancestry: Lithuanian 8% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 2% Other Indo-European 2% Spanish 1%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.55%
• Current HPI: 316.5619
• Rent YoY: —
• 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

+128.4% since first listed

16 events — show timeline

• 2026-05-06 Pending — Global MLS
• 2026-04-28 Price Changed $388,000 Global MLS
• 2026-04-16 Listed $398,000 Global MLS
• 2017-07-07 Sold (Public Records) $235,000 Public Records
• 2017-06-07 Sold (MLS) $235,000 Global MLS
• 2017-04-26 Pending — Global MLS
• 2017-04-24 Price Changed $289,900 Global MLS
• 2017-04-23 Relisted — Global MLS
• 2017-04-22 Listing Removed — Global MLS
• 2017-03-16 Listed $279,900 Global MLS
• 2014-06-29 Listing Removed — Global MLS
• 2014-04-07 Listed $294,000 Global MLS
• 2013-06-25 Sold (Public Records) $150,000 Public Records
• 2013-06-21 Sold (MLS) $150,000 Global MLS
• 2013-05-06 Listing Removed — Global MLS
• 2013-02-18 Listed $169,900 Global MLS

Property tax history

+10.1%/yr

Latest (2025): $7,733 · +1.3% YoY. Source: county tax records.