112 Main St · Cohoes, NY 12047

$699,000

16 bd · 6.0 ba · 5,325 sqft · MultiFamily public records · 178 Days on market

Built 1920 3,484 sqft lot $131/sqft · 38% above area Est $507k · 38% over

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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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +6.3/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Welcome to this six-unit multifamily property which is a true investor standout, offering strong, reliable returns with no deferred maintenance or renovation work required. Each unit features separate utilities, keeping operating expenses low while maximizing profitability. Four units are occupied. The building has been exceptionally well maintained, providing a rare opportunity to acquire a high-performing asset that's truly move-in ready from an investment standpoint. Ideally located in the heart of Cohoes, the property offers convenient access to local amenities and major highways—making it very desirable for tenants and a smart addition to any investment portfolio. Don't miss this low-maintenance, high-yield opportunity to secure consistent cash flow from day one.

Key facts

• Separate utilities
• Convenient access
• Well maintained

Tags

• SIX UNIT MULTIFAMILY PROPERTY
• SEPARATE UTILITIES
• WELL MAINTAINED
• MOVE IN READY
• CONVENIENT ACCESS
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/?-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $452/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $699k).
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $7,874/mo this rent would consume 143% of the median local household income ($66k/yr) (locally 1395% 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 $5k of loan paydown is wiped out by about $21k 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 $196k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 20y 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 $565k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $615,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

• ARV (median comp): $507,350
• List price: $699,000
• Delta: 37.77%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Strong Pl	0.71mi	15/6.0 (-1)	5,456 (+2%)	21mo	$120,000	$22	41

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: 5.0%
• Equity multiple: 1.20×
• Total profit: $39,768
• Equity at exit: $104,223

10-year hold

• IRR: 18.1%
• Equity multiple: 2.81×
• Total profit: $354,304
• Equity at exit: $60,437

Cash invested: $195,720 (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: 29.6×

Monthly cashflow live

• Estimated rent: $7,874 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$457 /mo · $5,488/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,654
• Net cashflow: $1,806

Break-even live

Break-even rent $5,588

Max offer price $699,000

Occupancy floor 72%

Sensitivity live

Price	-10% $2,202	-5% $2,004	+0% $1,806	+5% $1,608	+10% $1,411
Rent	-10% $1,184	-5% $1,495	+0% $1,806	+5% $2,117	+10% $2,428
Rate	-1.0pp $2,158	-0.5pp $1,984	base $1,806	+0.5pp $1,625	+1.0pp $1,441

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	—	$7,872
Total (4 units)			$7,874

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 49 events

1. 2026-06-18
   days on market $699,000 Active 178 DOM
2. 2026-06-17
   days on market $699,000 Active 177 DOM
3. 2026-06-16
   days on market $699,000 Active 176 DOM
4. 2026-06-15
   days on market $699,000 Active 175 DOM
5. 2026-06-14
   days on market $699,000 Active 173 DOM
6. 2026-06-13
   days on market $699,000 Active 172 DOM
7. 2026-06-10
   days on market $699,000 Active 170 DOM
8. 2026-06-09
   days on market $699,000 Active 169 DOM
9. 2026-06-08
   days on market $699,000 Active 168 DOM
10. 2026-06-07
    days on market $699,000 Active 167 DOM
11. 2026-06-03
    days on market $699,000 Active 163 DOM
12. 2026-06-02
    days on market $699,000 Active 162 DOM
13. 2026-06-01
    days on market $699,000 Active 161 DOM
14. 2026-05-31
    days on market $699,000 Active 160 DOM
15. 2026-05-31
    days on market $699,000 Active 159 DOM
16. 2025-12-22
    listed $699,000 Active 784-char remark

    Show marketing remark (784 chars)

    Welcome to this six-unit multifamily property which is a true investor standout, offering strong, reliable returns with no deferred maintenance or renovation work required. Each unit features separate utilities, keeping operating expenses low while maximizing profitability. Four units are occupied. The building has been exceptionally well maintained, providing a rare opportunity to acquire a high-performing asset that's truly move-in ready from an investment standpoint. Ideally located in the heart of Cohoes, the property offers convenient access to local amenities and major highways—making it very desirable for tenants and a smart addition to any investment portfolio. Don't miss this low-maintenance, high-yield opportunity to secure consistent cash flow from day one.

17. 2025-12-09
    historical
18. 2025-07-17
    price $725,000
19. 2025-06-07
    price $749,999
20. 2025-06-07
    listed $750,000 Active
21. 2025-04-07
    historical
22. 2025-01-08
    listed $750,000 Active
23. 2024-03-22
    soldstatus $565,000
24. 2024-03-22
    listed $599,999
25. 2024-03-22
    soldstatus $565,000
26. 2024-03-18
    soldstatus $565,000 Closed
27. 2023-12-19
    status Pending
28. 2023-12-19
    status Active
29. 2023-12-15
    status Pending
30. 2023-12-11
    listed $599,999 Active
31. 2023-12-08
    status Active
32. 2023-11-19
    status Pending
33. 2023-11-04
    listed $600,000 Active
34. 2022-04-07
    soldstatus $350,000
35. 2022-02-17
    status Pending
36. 2022-02-09
    listed $360,000 Active
37. 2020-08-25
    soldstatus $282,000
38. 2020-08-21
    soldstatus $282,000 Closed (Final Sale)
39. 2020-06-15
    status Pend (Under Cntr)
40. 2020-06-04
    listed $265,000 New
41. 2014-09-23
    soldstatus $153,500
42. 2014-09-19
    soldstatus $153,500
43. 2014-07-26
    historical
44. 2014-07-10
    listed $153,500
45. 2006-10-17
    soldstatus $171,000
46. 2006-06-05
    soldstatus $171,000
47. 2006-04-21
    historical
48. 2006-03-06
    listed $184,900
49. 1998-02-05
    soldstatus $95,000

ⓘ 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: $5,488 · $457/mo
• Projected year-2 tax: $8,651 · $721/mo
• Expected delta: +$3,163/yr (+$264/mo · 57.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $94,488
• − Mortgage interest: −$39,155
• − Property taxes: −$5,488
• − Insurance: −$3,495
• − Repairs & maintenance: −$7,559
• − Management: −$7,559
• − Depreciation: −$20,335
• Taxable income: $10,897
• Est. tax owed @ 24.0%: −$2,615
• After-tax cash flow: $19,059/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

+635.8% since first listed

34 events — show timeline

• 2025-12-22 Listed $699,000 Global MLS
• 2025-12-09 Listing Removed — Global MLS
• 2025-07-17 Price Changed $725,000 Global MLS
• 2025-06-07 Price Changed $749,999 Global MLS
• 2025-06-07 Listed $750,000 Global MLS
• 2025-04-07 Listing Removed — Global MLS
• 2025-01-08 Listed $750,000 Global MLS
• 2024-03-22 Sold (Public Records) $565,000 Public Records
• 2024-03-22 Listed $599,999 Global MLS
• 2024-03-22 Sold (MLS) $565,000 Global MLS
• 2024-03-18 Sold (MLS) $565,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-12-19 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-12-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-12-11 Listed $599,999 OneKey® MLS as Distributed by MLS Grid
• 2023-12-08 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-11-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-11-04 Listed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2022-04-07 Sold (Public Records) $350,000 Public Records
• 2022-02-17 Pending — Global MLS
• 2022-02-09 Listed $360,000 Global MLS
• 2020-08-25 Sold (Public Records) $282,000 Public Records
• 2020-08-21 Sold (MLS) $282,000 Global MLS
• 2020-06-15 Pending — Global MLS
• 2020-06-04 Listed $265,000 Global MLS
• 2014-09-23 Sold (Public Records) $153,500 Public Records
• 2014-09-19 Sold (MLS) $153,500 Global MLS
• 2014-07-26 Listing Removed — Global MLS
• 2014-07-10 Listed $153,500 Global MLS
• 2006-10-17 Sold (Public Records) $171,000 Public Records
• 2006-06-05 Sold (MLS) $171,000 Global MLS
• 2006-04-21 Listing Removed — Global MLS
• 2006-03-06 Listed $184,900 Global MLS
• 1998-02-05 Sold (Public Records) $95,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $5,488 · -27.9% YoY. Source: county tax records.