28 White St · Cohoes, NY 12047

$500,000

8 bd · 3.0 ba · 3,828 sqft · MultiFamily public records · 5 Days on market

Built 1900 2,613 sqft lot $131/sqft · 8% above area Est $465k · 8% 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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +6.5/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• ARV discount +4.1/15.0
• 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

Great investment property! Recently renovated 3 Family house in downtown Cohoes. 1 floor has 2 brs & den, 2nd floor has 2 brs & den, 3rd floor has 1 br & den, EIN, LR, DR & Fenced in backyard. . Good Condition

Key facts

• Modern construction
• Hardwood flooring
• Fully renovated

Tags

• FULLY RENOVATED
• MODERN CONSTRUCTION
• WALK-IN CLOSETS
• HARDWOOD FLOORING
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Financial info: 3 total units; Tenants are responsible for hot water, heat, internet, cable TV, central air, electricity, and gas; Owner is responsible for trash collection, sewer, and water

Exterior

• Parking:
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Triplex; Flat roof; Brick construction; Stone foundation
• Construction: Brick exterior; Stone foundation; Flat roof
• Exterior features: Level lot

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 3 bedrooms (1st floor); Unit 2: 3 bedrooms (2nd floor); Unit 3: 3 bedrooms (3rd floor)
• Flooring: Tile; Hardwood
• Bathrooms: 3 full bathrooms (one per floor/unit)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Double-pane windows; Tile and hardwood flooring; Full unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup; Main-level laundry

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Cap rate 10.0% 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 $5,747/mo this rent would consume 104% 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 $3k of loan paydown is wiped out by about $15k 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 $140k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $166k; list at $500k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $500,000

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 1900 — 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: 1.15% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.26%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

• ARV (median comp): $464,734
• List price: $500,000
• Delta: 7.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Main St	0.29mi	8/3.0	4,108 (+7%)	2mo	$329,000	$80	73
86 Lancaster St	0.25mi	8/4.0	3,923 (+2%)	16mo	$327,500	$83	67
15 Broadway	0.37mi	8/3.0	3,576 (-7%)	8mo	$275,000	$77	65
308 Saratoga St	0.45mi	9/3.0 (+1)	3,900 (+2%)	20mo	$331,500	$85	54
122 Congress St	0.26mi	9/3.0 (+1)	3,336 (-13%)	12mo	$265,000	$79	51
129 Main St	0.27mi	9/3.0 (+1)	3,312 (-14%)	12mo	$329,000	$99	50
18 George St	0.43mi	9/3.0 (+1)	4,276 (+12%)	12mo	$180,000	$42	45
4 Amity St	0.53mi	7/3.0 (-1)	3,498 (-9%)	18mo	$165,000	$47	41
94 Breslin Ave	0.66mi	9/3.0 (+1)	3,300 (-14%)	1mo	$270,000	$82	40
161 Central Ave	0.58mi	7/3.5 (-1)	3,276 (-14%)	20mo	$260,000	$79	26

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: 7.9%
• Equity multiple: 1.32×
• Total profit: $45,157
• Equity at exit: $74,552

10-year hold

• IRR: 20.5%
• Equity multiple: 3.08×
• Total profit: $291,022
• Equity at exit: $43,231

Cash invested: $140,000 (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: 21.8×

Monthly cashflow live

• Estimated rent: $5,747 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$163 /mo · $1,950/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,207
• Net cashflow: $1,547

Break-even live

Break-even rent $3,788

Max offer price $500,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,748
Total (3 units)			$5,747

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-05
   status Pending 1420-char remark
2. 2026-04-29
   listed $500,000 Active 1420-char remark
3. 2025-01-27
   soldstatus $166,000
4. 2025-01-16
   soldstatus $165,000 Closed
5. 2024-11-07
   status Pending
6. 2024-11-02
   listed $129,700 Active
7. 2005-08-19
   soldstatus $110,000

   Show marketing remark (225 chars)

   Great investment property! Recently renovated 3 Family house in downtown Cohoes. 1 floor has 2 brs & den, 2nd floor has 2 brs & den, 3rd floor has 1 br & den, EIN, LR, DR & Fenced in backyard. . Good Condition

8. 2005-07-06
   historical

   Show marketing remark (225 chars)

   Great investment property! Recently renovated 3 Family house in downtown Cohoes. 1 floor has 2 brs & den, 2nd floor has 2 brs & den, 3rd floor has 1 br & den, EIN, LR, DR & Fenced in backyard. . Good Condition

9. 2005-06-08
   listed $98,900

   Show marketing remark (225 chars)

   Great investment property! Recently renovated 3 Family house in downtown Cohoes. 1 floor has 2 brs & den, 2nd floor has 2 brs & den, 3rd floor has 1 br & den, EIN, LR, DR & Fenced in backyard. . Good Condition

10. 2001-06-07
    soldstatus $30,000

ⓘ 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: $1,950 · $163/mo
• Projected year-2 tax: $5,200 · $433/mo
• Expected delta: +$3,250/yr (+$271/mo · 166.7%)

ⓘ 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: $68,964
• − Mortgage interest: −$28,008
• − Property taxes: −$1,950
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,517
• − Management: −$5,517
• − Depreciation: −$14,545
• Taxable income: $10,926
• Est. tax owed @ 24.0%: −$2,622
• After-tax cash flow: $15,945/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

+1566.7% since first listed

10 events — show timeline

• 2026-05-05 Pending — Global MLS
• 2026-04-29 Listed $500,000 Global MLS
• 2025-01-27 Sold (Public Records) $166,000 Public Records
• 2025-01-16 Sold (MLS) $165,000 UNYREIS
• 2024-11-07 Pending — UNYREIS
• 2024-11-02 Listed $129,700 UNYREIS
• 2005-08-19 Sold (MLS) $110,000 Global MLS
• 2005-07-06 Listing Removed — Global MLS
• 2005-06-08 Listed $98,900 Global MLS
• 2001-06-07 Sold (Public Records) $30,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,950 · -27.3% YoY. Source: county tax records.