111 Johnston Ave · Cohoes, NY 12047

$156,100

7 bd · 3.0 ba · 3,554 sqft · MultiFamily public records · 396 Days on market

Built 1880 4,356 sqft lot $44/sqft · 66% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 3 units. confirmed

Listing remarks MLS

Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

Key facts

• 4,356 sq ft lot
• Built 1880
• Listed 396 days

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $156k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $897/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $156k).
• Recommended offer: $137k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.0% 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 $5,063/mo this rent would consume 92% 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 $1k of loan paydown is wiped out by about $5k 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 $44k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 396 days — a 12% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $109k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,368 (12.0% below list)

Questions for the listing agent

1. It's been on market 396 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.24% ✓
• Cap rate: 26.97%
• Cash-on-cash: 73.86%
• DSCR: 4.29
• GRM: 2.6

CMA / ARV

• ARV (median comp): $465,098
• List price: $156,100
• Delta: -66.44%
• 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
15 Broadway	0.07mi	8/3.0 (+1)	3,576 (+1%)	8mo	$275,000	$77	83
4 Amity St	0.26mi	7/3.0	3,498 (-2%)	18mo	$165,000	$47	70
11 Garner St	0.22mi	6/4.0 (-1)	3,434 (-3%)	11mo	$400,000	$116	66
42 Mcelwain Ave	0.11mi	6/3.0 (-1)	3,032 (-15%)	2mo	$382,000	$126	64
114 Congress St	0.57mi	6/3.0 (-1)	3,192 (-10%)	2mo	$279,900	$88	50
86 Lancaster St	0.53mi	8/4.0 (+1)	3,923 (+10%)	16mo	$327,500	$83	36

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: 79.2%
• Equity multiple: 4.91×
• Total profit: $170,775
• Equity at exit: $23,275

10-year hold

• IRR: 83.9%
• Equity multiple: 12.00×
• Total profit: $480,872
• Equity at exit: $13,497

Cash invested: $43,708 (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: 7.7×

Monthly cashflow live

• Estimated rent: $5,063 high
• Mortgage (P&I): −$819
• Tax from tax record: −$426 /mo · $5,113/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,063
• Net cashflow: $2,690

Break-even live

Break-even rent $1,658

Max offer price $156,100

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,064
Total (3 units)			$5,063

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: $39,025
• Closing costs: $4,683
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $156,100 Active 396 DOM
2. 2026-06-17
   days on market $156,100 Active 395 DOM
3. 2026-06-16
   days on market $156,100 Active 394 DOM
4. 2026-06-15
   days on market $156,100 Active 393 DOM
5. 2026-06-14
   days on market $156,100 Active 391 DOM
6. 2026-06-13
   days on market $156,100 Active 390 DOM
7. 2026-06-10
   days on market $156,100 Active 388 DOM
8. 2026-06-09
   days on market $156,100 Active 387 DOM
9. 2026-06-08
   days on market $156,100 Active 386 DOM
10. 2026-06-07
    pricedays on market $156,100 Active 385 DOM
11. 2026-06-03
    days on market $164,300 Active 381 DOM
12. 2026-06-02
    days on market $164,300 Active 380 DOM
13. 2026-06-01
    days on market $164,300 Active 379 DOM
14. 2026-05-31
    days on market $164,300 Active 378 DOM
15. 2026-05-31
    days on market $164,300 Active 377 DOM
16. 2026-03-09
    price $164,300 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

17. 2026-03-09
    status Active 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

18. 2025-11-07
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

19. 2025-11-06
    historical 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

20. 2025-04-14
    price $229,300 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

21. 2025-03-20
    price $239,300 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

22. 2025-02-18
    price $251,800 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

23. 2025-01-15
    listed $265,000 Active 417-char remark

    Show marketing remark (417 chars)

    Affordable triplex in Cohoes, NY. Property appears to have been built in 1880 and sits on a lot of approx. 4,250 sq. ft. Approximate sq. ft. of building is 3,554 sq. ft. Do not wait on this triplex at this price as it will sell instantly. AS-IS SALE property. Buyers to inspect prior to bidding. The Buyer's due diligence needs to be conducted prior to bidding, as the high bidder will receive an AS-IS only contract.

24. 2016-07-11
    status Pend (Under Cntr)
25. 2016-07-09
    historical
26. 2016-06-30
    listed $135,000 New
27. 2010-02-09
    historical
28. 2009-10-07
    listed $145,000
29. 2006-06-12
    soldstatus $168,000
30. 2006-06-07
    soldstatus $168,000
31. 2006-04-18
    historical
32. 2006-04-18
    listed $175,000
33. 2004-05-18
    soldstatus $52,000
34. 2004-02-25
    soldstatus $52,000
35. 2003-12-31
    historical
36. 2003-06-16
    listed $72,900

ⓘ 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: $5,113 · $426/mo
• Projected year-2 tax: $5,113 · $426/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 · 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: $60,756
• − Mortgage interest: −$8,744
• − Property taxes: −$5,113
• − Insurance: −$780
• − Repairs & maintenance: −$4,860
• − Management: −$4,860
• − Depreciation: −$4,541
• Taxable income: $31,857
• Est. tax owed @ 24.0%: −$7,646
• After-tax cash flow: $24,635/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

+125.4% since first listed

21 events — show timeline

• 2026-03-09 Price Changed $164,300 Global MLS
• 2026-03-09 Relisted — Global MLS
• 2025-11-07 Pending — Global MLS
• 2025-11-06 Listing Removed — Global MLS
• 2025-04-14 Price Changed $229,300 Global MLS
• 2025-03-20 Price Changed $239,300 Global MLS
• 2025-02-18 Price Changed $251,800 Global MLS
• 2025-01-15 Listed $265,000 Global MLS
• 2016-07-11 Pending — Global MLS
• 2016-07-09 Listing Removed — Global MLS
• 2016-06-30 Listed $135,000 Global MLS
• 2010-02-09 Listing Removed — Global MLS
• 2009-10-07 Listed $145,000 Global MLS
• 2006-06-12 Sold (Public Records) $168,000 Public Records
• 2006-06-07 Sold (MLS) $168,000 Global MLS
• 2006-04-18 Listed $175,000 Global MLS
• 2006-04-18 Listing Removed — Global MLS
• 2004-05-18 Sold (Public Records) $52,000 Public Records
• 2004-02-25 Sold (MLS) $52,000 Global MLS
• 2003-12-31 Listing Removed — Global MLS
• 2003-06-16 Listed $72,900 Global MLS

Property tax history

+4.1%/yr

Latest (2025): $5,113 · -27.9% YoY. Source: county tax records.