186 Main St · Cohoes, NY 12047

$299,900

6 bd · 2.0 ba · 2,300 sqft · MultiFamily public records · 33 Days on market

Built 1880 2,178 sqft lot $130/sqft · 9% below area Est $331k · 9% 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 +22.8/30.0
• ARV discount +11.7/15.0
• DSCR +7.3/10.0
• 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
• 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

Completely renovated two-family property in the Cohoes City School District offering exceptional space, flexibility, and modern finishes throughout. Each unit features three spacious bedrooms and two full bathrooms, including dual primary suites--one with a traditional layout and a second private suite with its own full bath, ideal for extended living or added rental appeal. Both units have been updated from top to bottom over the past several years, showcasing tiled bathrooms, updated kitchens with stainless steel appliances, and quality finishes throughout. One unit offers quartz countertops while the other features granite, providing a high-end feel in each space. Additional highlights include forced hot air heating, central air conditioning, and enclosed back porches with laundry for added convenience. This is a true turnkey opportunity--perfect for owner-occupants or investors alike. Nothing to do but move in and start generating income.

Key facts

• Tiled bathrooms
• Updated kitchens
• Two full bathrooms

Tags

• RENOVATED TWO-FAMILY PROPERTY
• THREE SPACIOUS BEDROOMS
• TWO FULL BATHROOMS
• DUAL PRIMARY SUITES
• TILED BATHROOMS
• UPDATED KITCHENS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive. Per door: $260/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 $3,391/mo this rent would consume 62% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y 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 $11k; list at $300k implies a 2626% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 7.4

CMA / ARV

• ARV (median comp): $330,865
• List price: $299,900
• Delta: -9.36%
• 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
320 Saratoga St	0.08mi	6/2.0	2,156 (-6%)	7mo	$212,500	$99	80
142 Main St	0.10mi	7/2.5 (+1)	2,330 (+1%)	11mo	$220,000	$94	77
119 Congress St	0.16mi	5/2.0 (-1)	2,372 (+3%)	8mo	$207,000	$87	76
150 Bridge Ave	0.35mi	6/2.0	2,200 (-4%)	4mo	$243,000	$110	73
172 Congress St	0.05mi	5/2.0 (-1)	2,094 (-9%)	8mo	$120,000	$57	71
138 Main St	0.11mi	6/3.0	2,044 (-11%)	11mo	$318,000	$156	63
106 Continental Ave	0.72mi	6/2.0	2,388 (+4%)	1mo	$250,000	$105	60
31 Congress St	0.38mi	6/2.0	2,594 (+13%)	6mo	$260,000	$100	56
100 Lancaster St	0.17mi	5/2.0 (-1)	1,976 (-14%)	12mo	$235,000	$119	54
23 Sargent St	0.54mi	6/3.0	2,100 (-9%)	5mo	$290,000	$138	52
99 Breslin Ave	0.70mi	6/2.0	2,112 (-8%)	10mo	$250,000	$118	46
98 Breslin Ave	0.69mi	6/4.0	2,186 (-5%)	9mo	$325,000	$149	44

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $997
• Equity at exit: $44,716

10-year hold

• IRR: 14.3%
• Equity multiple: 2.41×
• Total profit: $117,987
• Equity at exit: $25,930

Cash invested: $83,972 (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: 14.7×

Monthly cashflow live

• Estimated rent: $3,391 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$462 /mo · $5,545/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$712
• Net cashflow: $519

Break-even live

Break-even rent $2,734

Max offer price $299,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,390
Total (2 units)			$3,391

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-04-20
   listed $299,900 Active 959-char remark

   Show marketing remark (959 chars)

   Completely renovated two-family property in the Cohoes City School District offering exceptional space, flexibility, and modern finishes throughout. Each unit features three spacious bedrooms and two full bathrooms, including dual primary suites--one with a traditional layout and a second private suite with its own full bath, ideal for extended living or added rental appeal. Both units have been updated from top to bottom over the past several years, showcasing tiled bathrooms, updated kitchens with stainless steel appliances, and quality finishes throughout. One unit offers quartz countertops while the other features granite, providing a high-end feel in each space. Additional highlights include forced hot air heating, central air conditioning, and enclosed back porches with laundry for added convenience. This is a true turnkey opportunity--perfect for owner-occupants or investors alike. Nothing to do but move in and start generating income.

2. 2016-06-02
   soldstatus $11,000 Closed (Final Sale) 195-char remark

   Show marketing remark (195 chars)

   2 Family with 3 bedrooms each units, Separate utilities,Needs TLC, Great investor project,must have proof of funds or pre approval prior to offer submission,buyer to verify taxes. Fair Condition

3. 2016-05-06
   status Pend (Under Cntr) 195-char remark

   Show marketing remark (195 chars)

   2 Family with 3 bedrooms each units, Separate utilities,Needs TLC, Great investor project,must have proof of funds or pre approval prior to offer submission,buyer to verify taxes. Fair Condition

4. 2016-05-03
   price $15,000 195-char remark

   Show marketing remark (195 chars)

   2 Family with 3 bedrooms each units, Separate utilities,Needs TLC, Great investor project,must have proof of funds or pre approval prior to offer submission,buyer to verify taxes. Fair Condition

5. 2016-04-24
   listed $19,000 New 195-char remark

   Show marketing remark (195 chars)

   2 Family with 3 bedrooms each units, Separate utilities,Needs TLC, Great investor project,must have proof of funds or pre approval prior to offer submission,buyer to verify taxes. Fair Condition

6. 2016-04-23
   historical
7. 2016-04-02
   price $19,000
8. 2016-03-03
   price $24,000
9. 2016-02-09
   price $29,000
10. 2016-01-07
    price $37,000
11. 2016-01-05
    price $39,000
12. 2015-12-06
    price $45,000
13. 2015-12-06
    status Active
14. 2015-12-01
    historical
15. 2015-10-27
    listed $49,500 Active
16. 2009-04-30
    historical
17. 2008-09-29
    listed $115,000
18. 2008-09-16
    historical
19. 2008-03-15
    listed $114,900
20. 2006-12-05
    soldstatus $84,270
21. 2006-11-08
    soldstatus $64,000
22. 2006-11-02
    soldstatus $90,956
23. 2006-09-25
    historical
24. 2006-04-11
    listed $79,900
25. 2005-05-19
    soldstatus $55,200
26. 2005-03-16
    historical
27. 2004-12-31
    listed $52,500

ⓘ 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: $5,545 · $462/mo
• Projected year-2 tax: $5,545 · $462/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 (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: $40,692
• − Mortgage interest: −$16,799
• − Property taxes: −$5,545
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,255
• − Management: −$3,255
• − Depreciation: −$8,724
• Taxable income: $1,614
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $5,843/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

+471.2% since first listed

27 events — show timeline

• 2026-04-20 Listed $299,900 Global MLS
• 2016-06-02 Sold (MLS) $11,000 Global MLS
• 2016-05-06 Pending — Global MLS
• 2016-05-03 Price Changed $15,000 Global MLS
• 2016-04-24 Listed $19,000 Global MLS
• 2016-04-23 Listing Removed — Global MLS
• 2016-04-02 Price Changed $19,000 Global MLS
• 2016-03-03 Price Changed $24,000 Global MLS
• 2016-02-09 Price Changed $29,000 Global MLS
• 2016-01-07 Price Changed $37,000 Global MLS
• 2016-01-05 Price Changed $39,000 Global MLS
• 2015-12-06 Price Changed $45,000 Global MLS
• 2015-12-06 Relisted — Global MLS
• 2015-12-01 Listing Removed — Global MLS
• 2015-10-27 Listed $49,500 Global MLS
• 2009-04-30 Listing Removed — Global MLS
• 2008-09-29 Listed $115,000 Global MLS
• 2008-09-16 Listing Removed — Global MLS
• 2008-03-15 Listed $114,900 Global MLS
• 2006-12-05 Sold (Public Records) $84,270 Public Records
• 2006-11-08 Sold (MLS) $64,000 Global MLS
• 2006-11-02 Sold (Public Records) $90,956 Public Records
• 2006-09-25 Listing Removed — Global MLS
• 2006-04-11 Listed $79,900 Global MLS
• 2005-05-19 Sold (MLS) $55,200 Global MLS
• 2005-03-16 Listing Removed — Global MLS
• 2004-12-31 Listed $52,500 Global MLS

Property tax history

+7.2%/yr

Latest (2025): $5,545 · +0.4% YoY. Source: county tax records.