318 Saratoga St · Cohoes, NY 12047

$240,000

5 bd · 2.0 ba · 2,048 sqft · MultiFamily public records · 32 Days on market

Built 1910 3,049 sqft lot Est $223k · 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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.9/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

Key facts

• Separate gas boilers
• Spacious backyard
• Electric panels

Tags

• SPACIOUS BACKYARD
• OFF-STREET PARKING
• WASHER AND DRYER HOOKUPS
• SEPARATE GAS BOILERS
• ELECTRIC PANELS

Property features AI

Finance

• Financial info: Tenant pays heat, internet, and cable TV; Two-unit property

Exterior

• Parking: One paved parking space
• Utilities: Public water; Public sewer
• Home design: Duplex; 2,048 living area; Lot approximately 0.07 acres
• Construction: Shingle siding
• Exterior features: Front porch; Porch; Back yard fencing

Interior

• Bedrooms: Unit 1: 2–3 bedrooms (unit listing shows both 2 and 3 bedrooms); Unit 2: 3 bedrooms
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms total (one full bath on the 1st level, one full bath on the 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Baseboard heating; Wall-mounted cooling units
• Interior features: Hardwood floors; Partial basement with exterior entry
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• 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; 1 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,095/mo this rent would consume 56% 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 $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $139k; list at $240k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.29% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.13%
• DSCR: 1.58
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $223,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 Congress St	0.11mi	5/2.0	2,094 (+2%)	8mo	$120,000	$57	84
320 Saratoga St	0.01mi	6/2.0 (+1)	2,156 (+5%)	7mo	$212,500	$99	80
90 Central Ave	0.26mi	4/2.0 (-1)	1,930 (-6%)	10mo	$175,000	$91	65
150 Bridge Ave	0.34mi	6/2.0 (+1)	2,200 (+7%)	4mo	$243,000	$110	63
35 Grant St	0.63mi	4/2.0 (-1)	2,100 (+2%)	0mo	$150,000	$71	61
171 Lancaster St	0.14mi	4/2.0 (-1)	2,308 (+13%)	9mo	$245,500	$106	60
46 White St	0.48mi	5/2.0	1,900 (-7%)	10mo	$250,000	$132	58
23 Sargent St	0.62mi	6/3.0 (+1)	2,100 (+2%)	5mo	$290,000	$138	54
4 Congress St	0.52mi	4/2.5 (-1)	1,848 (-10%)	3mo	$160,000	$87	50
99 Breslin Ave	0.72mi	6/2.0 (+1)	2,112 (+3%)	10mo	$250,000	$118	48
59 Amity St	0.68mi	4/2.0 (-1)	2,208 (+8%)	5mo	$240,000	$109	46
98 Breslin Ave	0.70mi	6/4.0 (+1)	2,186 (+7%)	9mo	$325,000	$149	35

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: 8.3%
• Equity multiple: 1.34×
• Total profit: $23,011
• Equity at exit: $35,785

10-year hold

• IRR: 21.2%
• Equity multiple: 3.21×
• Total profit: $148,307
• Equity at exit: $20,751

Cash invested: $67,200 (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: 12.9×

Monthly cashflow live

• Estimated rent: $3,095 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$351 /mo · $4,213/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $735

Break-even live

Break-even rent $2,164

Max offer price $240,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,094
Total (2 units)			$3,095

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 6th Ave Troy, NY	4.0	1.0	1400	$2,325	$1.66	14d	1	1.20mi

Listing history 24 events

1. 2026-06-18
   days on market $240,000 Active 32 DOM
2. 2026-06-17
   days on market $240,000 Active 31 DOM
3. 2026-06-16
   days on market $240,000 Active 30 DOM
4. 2026-06-15
   days on market $240,000 Active 29 DOM
5. 2026-06-14
   days on market $240,000 Active 27 DOM
6. 2026-06-13
   days on market $240,000 Active 26 DOM
7. 2026-06-10
   days on market $240,000 Active 24 DOM
8. 2026-06-09
   days on market $240,000 Active 23 DOM
9. 2026-06-08
   days on market $240,000 Active 22 DOM
10. 2026-06-07
    days on market $240,000 Active 21 DOM
11. 2026-06-03
    days on market $240,000 Active 17 DOM
12. 2026-06-02
    days on market $240,000 Active 16 DOM
13. 2026-06-01
    days on market $240,000 Active 15 DOM
14. 2026-05-31
    days on market $240,000 Active 14 DOM
15. 2026-05-31
    days on market $240,000 Active 13 DOM
16. 2026-05-17
    listed $240,000 Active
17. 2023-02-21
    historical
18. 2022-12-24
    listed $215,000 Active
19. 2018-11-28
    soldstatus $139,000 Closed (Final Sale) 400-char remark

    Show marketing remark (400 chars)

    Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

20. 2018-08-24
    status Pend (Under Cntr) 400-char remark

    Show marketing remark (400 chars)

    Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

21. 2018-07-23
    price $134,900 400-char remark

    Show marketing remark (400 chars)

    Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

22. 2018-07-23
    status Price Change 400-char remark

    Show marketing remark (400 chars)

    Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

23. 2018-07-02
    status Pend (Under Cntr) 400-char remark

    Show marketing remark (400 chars)

    Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

24. 2018-06-02
    listed $139,900 New 400-char remark

    Show marketing remark (400 chars)

    Don't miss the opportunity to own this well kept 2 family. 1st floor has newly finished hardwood floors, large open kitchen, and fresh paint throughout. 2nd floor has hardwood floors throughout. Large open kitchen and large bathroom. Newer hot water tanks and windows. Separate gas boilers and electric panels. 1 driveway space and plenty of parking across the newly paved street. Very Good Condition

ⓘ 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: $4,213 · $351/mo
• Projected year-2 tax: $4,213 · $351/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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: $37,140
• − Mortgage interest: −$13,444
• − Property taxes: −$4,213
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,971
• − Management: −$2,971
• − Depreciation: −$6,982
• Taxable income: $5,359
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $7,538/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

+71.6% since first listed

9 events — show timeline

• 2026-05-17 Listed $240,000 Global MLS
• 2023-02-21 Listing Removed — Global MLS
• 2022-12-24 Listed $215,000 Global MLS
• 2018-11-28 Sold (MLS) $139,000 Global MLS
• 2018-08-24 Pending — Global MLS
• 2018-07-23 Price Changed $134,900 Global MLS
• 2018-07-23 Relisted — Global MLS
• 2018-07-02 Pending — Global MLS
• 2018-06-02 Listed $139,900 Global MLS

Property tax history

+6.5%/yr

Latest (2025): $4,213 · -6.6% YoY. Source: county tax records.