46 Congress St · Cohoes, NY 12047

$234,900

6 bd · 2.0 ba · 2,068 sqft · MultiFamily public records · 79 Days on market

Built 1920 2,613 sqft lot $114/sqft · 27% below area Est $321k · 27% 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 +8.5/10.0
• 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

Fully occupied duplex in Cohoes with updates throughout the property. Long term first floor tenant in place. Each unit features 2 bedrooms and 1 bath. Hardwood floors were just installed in unit 2. This could make a great owner occupant property or a solid addition to your investment portfolio

Key facts

• 2,613 sq ft lot
• Built 1920
• Listed 79 days

🏷️ Possibly a rental listed for sale. The $234,900 price doesn't fit this home's estimated sale value (~$321,167) 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 $235k.

Deal economics

• At list price, monthly cash flow is $843 ($10k/yr) — positive. Per door: $422/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $221k (6.0% below list) — sets the bar for market timing.
• 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; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,160/mo this rent would consume 57% 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 $66k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $235k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.35% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.38%
• DSCR: 1.68
• GRM: 6.2

CMA / ARV

• ARV (median comp): $321,167
• List price: $234,900
• Delta: -26.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Sargent St	0.20mi	6/3.0	2,100 (+2%)	5mo	$290,000	$138	80
172 Congress St	0.32mi	5/2.0 (-1)	2,094 (+1%)	8mo	$120,000	$57	71
46 White St	0.06mi	5/2.0 (-1)	1,900 (-8%)	10mo	$250,000	$132	71
320 Saratoga St	0.42mi	6/2.0	2,156 (+4%)	7mo	$212,500	$99	68
157 Congress St	0.29mi	5/2.0 (-1)	1,936 (-6%)	10mo	$205,000	$106	62
150 Bridge Ave	0.53mi	6/2.0	2,200 (+6%)	4mo	$243,000	$110	61
99 Breslin Ave	0.69mi	6/2.0	2,112 (+2%)	10mo	$250,000	$118	56
119 Congress St	0.19mi	5/2.0 (-1)	2,372 (+15%)	8mo	$207,000	$87	55
96 Heartt Ave	0.73mi	6/2.0	1,936 (-6%)	5mo	$305,000	$158	51
44 Clifton St	0.72mi	6/2.0	2,200 (+6%)	8mo	$275,000	$125	49
98 Breslin Ave	0.69mi	6/4.0	2,186 (+6%)	9mo	$325,000	$149	43
114 Simmons Ave	0.61mi	5/2.0 (-1)	1,800 (-13%)	10mo	$250,000	$139	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: 11.3%
• Equity multiple: 1.47×
• Total profit: $31,000
• Equity at exit: $35,024

10-year hold

• IRR: 23.8%
• Equity multiple: 3.52×
• Total profit: $165,471
• Equity at exit: $20,310

Cash invested: $65,772 (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: 12.4×

Monthly cashflow live

• Estimated rent: $3,160 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$324 /mo · $3,884/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $843

Break-even live

Break-even rent $2,093

Max offer price $234,900

Occupancy floor 68%

Sensitivity live

Price	-10% $976	-5% $910	+0% $843	+5% $777	+10% $710
Rent	-10% $593	-5% $718	+0% $843	+5% $968	+10% $1,093
Rate	-1.0pp $961	-0.5pp $903	base $843	+0.5pp $782	+1.0pp $720

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,160
Total (2 units)			$3,160

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $234,900 Active 79 DOM
2. 2026-06-17
   days on market $234,900 Active 78 DOM
3. 2026-06-16
   days on market $234,900 Active 77 DOM
4. 2026-06-15
   days on market $234,900 Active 76 DOM
5. 2026-06-14
   days on market $234,900 Active 74 DOM
6. 2026-06-13
   days on market $234,900 Active 73 DOM
7. 2026-06-10
   days on market $234,900 Active 71 DOM
8. 2026-06-09
   days on market $234,900 Active 70 DOM
9. 2026-06-08
   pricedays on market $234,900 Active 69 DOM
10. 2026-06-07
    days on market $244,900 Active 68 DOM
11. 2026-06-03
    days on market $244,900 Active 64 DOM
12. 2026-06-02
    days on market $244,900 Active 63 DOM
13. 2026-06-01
    days on market $244,900 Active 62 DOM
14. 2026-05-31
    days on market $244,900 Active 61 DOM
15. 2026-05-31
    days on market $244,900 Active 60 DOM
16. 2026-04-15
    price $244,900 294-char remark

    Show marketing remark (294 chars)

    Fully occupied duplex in Cohoes with updates throughout the property. Long term first floor tenant in place. Each unit features 2 bedrooms and 1 bath. Hardwood floors were just installed in unit 2. This could make a great owner occupant property or a solid addition to your investment portfolio

17. 2026-03-31
    listed $255,000 Active 294-char remark

    Show marketing remark (294 chars)

    Fully occupied duplex in Cohoes with updates throughout the property. Long term first floor tenant in place. Each unit features 2 bedrooms and 1 bath. Hardwood floors were just installed in unit 2. This could make a great owner occupant property or a solid addition to your investment portfolio

18. 2022-12-07
    soldstatus $125,000
19. 2022-10-28
    status Pending 136-char remark

    Show marketing remark (136 chars)

    Great investment or owner occupied 2 family with many updates. Long term tenants with month to month leases. Rents could be much higher.

20. 2022-10-21
    status Active 136-char remark

    Show marketing remark (136 chars)

    Great investment or owner occupied 2 family with many updates. Long term tenants with month to month leases. Rents could be much higher.

21. 2022-09-09
    status Pending 136-char remark

    Show marketing remark (136 chars)

    Great investment or owner occupied 2 family with many updates. Long term tenants with month to month leases. Rents could be much higher.

22. 2022-08-24
    price $145,000 136-char remark

    Show marketing remark (136 chars)

    Great investment or owner occupied 2 family with many updates. Long term tenants with month to month leases. Rents could be much higher.

23. 2022-07-28
    listed $150,000 Active 136-char remark

    Show marketing remark (136 chars)

    Great investment or owner occupied 2 family with many updates. Long term tenants with month to month leases. Rents could be much higher.

24. 2010-06-02
    historical
25. 2010-01-01
    historical
26. 2010-01-01
    listed $90,000
27. 2009-07-20
    listed $95,000
28. 2009-07-13
    historical
29. 2009-03-21
    listed $99,900

ⓘ 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: $3,884 · $324/mo
• Projected year-2 tax: $3,927 · $327/mo
• Expected delta: +$43/yr (+$4/mo · 1.1%)

ⓘ 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: $37,920
• − Mortgage interest: −$13,158
• − Property taxes: −$3,884
• − Insurance: −$1,174
• − Repairs & maintenance: −$3,034
• − Management: −$3,034
• − Depreciation: −$6,833
• Taxable income: $6,803
• Est. tax owed @ 24.0%: −$1,633
• After-tax cash flow: $8,484/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

+145.1% since first listed

14 events — show timeline

• 2026-04-15 Price Changed $244,900 Global MLS
• 2026-03-31 Listed $255,000 Global MLS
• 2022-12-07 Sold (Public Records) $125,000 Public Records
• 2022-10-28 Pending — Global MLS
• 2022-10-21 Relisted — Global MLS
• 2022-09-09 Pending — Global MLS
• 2022-08-24 Price Changed $145,000 Global MLS
• 2022-07-28 Listed $150,000 Global MLS
• 2010-06-02 Listing Removed — Global MLS
• 2010-01-01 Listed $90,000 Global MLS
• 2010-01-01 Listing Removed — Global MLS
• 2009-07-20 Listed $95,000 Global MLS
• 2009-07-13 Listing Removed — Global MLS
• 2009-03-21 Listed $99,900 Global MLS

Property tax history

+7.2%/yr

Latest (2025): $3,884 · +0.4% YoY. Source: county tax records.