11 Edward St · Cohoes, NY 12047

$230,000

4 bd · 2.0 ba · 1,680 sqft · MultiFamily public records · 12 Days on market

Built 1910 3,484 sqft lot $137/sqft · 46% below area Est $426k · 46% 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• 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

Great Cohoes hill location, updated 2 family on a quiet street, upstairs apartment in great shape, has been rented for $1200, 1st floor clean but dated, long term tenant. Vinyl siding, replacement windows.

Key facts

• Quiet street
• Vinyl siding
• Cohoes hill location

Tags

• COHOES HILL LOCATION
• QUIET STREET
• VINYL SIDING
• REPLACEMENT WINDOWS

🏷️ Possibly a rental listed for sale. The $230,000 price doesn't fit this home's estimated sale value (~$425,978) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 10.6% 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,049/mo this rent would consume 55% 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 $7k 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 $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $230,000

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 1910 — 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: 1.33% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.34%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $425,978
• List price: $230,000
• Delta: -46.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Dartmouth St	0.13mi	4/2.0	1,584 (-6%)	9mo	$285,000	$180	77
26 Erie St	0.46mi	4/2.0	1,740 (+4%)	3mo	$180,540	$104	70
9 Broadway	0.53mi	4/2.0	1,496 (-11%)	3mo	$180,540	$121	54
114 Simmons Ave	0.53mi	5/2.0 (+1)	1,800 (+7%)	10mo	$250,000	$139	50
36 Erie St	0.43mi	4/2.0	1,500 (-11%)	19mo	$147,000	$98	46
11 Broadway	0.54mi	5/2.0 (+1)	1,928 (+15%)	17mo	$155,000	$80	31

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: 11.2%
• Equity multiple: 1.47×
• Total profit: $29,987
• Equity at exit: $34,294

10-year hold

• IRR: 23.6%
• Equity multiple: 3.49×
• Total profit: $160,464
• Equity at exit: $19,886

Cash invested: $64,400 (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: 114
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $3,049 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$283 /mo · $3,399/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $823

Break-even live

Break-even rent $2,007

Max offer price $230,000

Occupancy floor 68%

Sensitivity live

Price	-10% $954	-5% $889	+0% $823	+5% $758	+10% $693
Rent	-10% $583	-5% $703	+0% $823	+5% $944	+10% $1,064
Rate	-1.0pp $939	-0.5pp $882	base $823	+0.5pp $764	+1.0pp $703

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,050
Total (2 units)			$3,049

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Cindy Way Cohoes, NY	3.0	1.5	1420	$2,300	$1.62	45d	1	0.28mi
29 Walnut St Unit / 2nd Floor Cohoes, NY	3.0	1.0	1200	$1,700	$1.42	45d	1	0.52mi
100 N Mohawk St Cohoes, NY	1.0–3.0	1.0–3.0	1769	$3,840	$2.17	15d	18	0.54mi
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$2,294	$2.66	15d	7	0.80mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	15d	1	0.80mi
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,345	$1.12	24d	1	0.90mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	20d	1	0.91mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	15d	4	1.02mi
338 Saratoga St Unit 2 Cohoes, NY	3.0	1.5	1200	$1,495	$1.25	45d	1	1.28mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	15d	1	1.50mi

Listing history 2 events

1. 2026-05-03
   status Pending 205-char remark

   Show marketing remark (205 chars)

   Great Cohoes hill location, updated 2 family on a quiet street, upstairs apartment in great shape, has been rented for $1200, 1st floor clean but dated, long term tenant. Vinyl siding, replacement windows.

2. 2026-04-21
   listed $230,000 Active 205-char remark

   Show marketing remark (205 chars)

   Great Cohoes hill location, updated 2 family on a quiet street, upstairs apartment in great shape, has been rented for $1200, 1st floor clean but dated, long term tenant. Vinyl siding, replacement windows.

ⓘ 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: $3,399 · $283/mo
• Projected year-2 tax: $3,643 · $304/mo
• Expected delta: +$244/yr (+$20/mo · 7.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 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: $36,588
• − Mortgage interest: −$12,884
• − Property taxes: −$3,399
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,927
• − Management: −$2,927
• − Depreciation: −$6,691
• Taxable income: $6,610
• Est. tax owed @ 24.0%: −$1,586
• After-tax cash flow: $8,295/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

2 events — show timeline

• 2026-05-03 Pending — Global MLS
• 2026-04-21 Listed $230,000 Global MLS

Property tax history

+7.2%/yr

Latest (2025): $3,399 · +0.4% YoY. Source: county tax records.