46 Congress St · Cohoes, NY 12047

$234,900

6 bd · 2.0 ba · 2,068 sqft · MultiFamily public records · 183 Days on market

Built 1920 Fair condition 2,613 sqft lot $114/sqft · 25% below area Est $312k · 25% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +5.1/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +2.2/5.0
• 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.

Key facts

• 2,613 sq ft lot
• Built 1920
• Listed 182 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $235k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.1% 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.
• Zoned schools: Abram Lansing School (math 42% / reading 47%, grade F, #1,277 of 2,108 statewide, top 64%, 326 students, 81% FRL); Cohoes Middle School (math 19% / reading 49%, grade F, #497 of 729 statewide, top 69%, 441 students, 68% FRL); Cohoes High School (math 72% / reading 74%, grade B+, #665 of 1,100 statewide, top 61%, 554 students, 63% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 216 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($207k) 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 $206,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.30% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.70%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

• ARV (median comp): $311,839
• List price: $234,900
• Delta: -24.67%
• 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
2 Broadway	0.36mi	6/2.0	2,016 (-2%)	2mo	$234,600	$116	77
23 Sargent St	0.20mi	6/3.0	2,100 (+2%)	9mo	$290,000	$138	76
1A Congress St	0.12mi	6/2.0	1,770 (-14%)	0mo	$205,000	$116	70
2 Mcelwain Ave	0.24mi	6/2.0	2,288 (+11%)	2mo	$300,000	$131	69
172 Congress St	0.32mi	5/2.0 (-1)	2,094 (+1%)	13mo	$120,000	$57	67
320 Saratoga St	0.42mi	6/2.0	2,156 (+4%)	11mo	$212,500	$99	64
258 Central Ave	0.75mi	6/2.0	2,040 (-1%)	3mo	$295,000	$145	61
150 Bridge Ave	0.53mi	6/2.0	2,200 (+6%)	9mo	$243,000	$110	57
119 Congress St	0.19mi	5/2.0 (-1)	2,372 (+15%)	12mo	$207,000	$87	52
96 Heartt Ave	0.73mi	6/2.0	1,936 (-6%)	9mo	$305,000	$158	47
44 Clifton St	0.72mi	6/2.0	2,200 (+6%)	12mo	$275,000	$125	46
98 Breslin Ave	0.69mi	6/4.0	2,186 (+6%)	14mo	$325,000	$149	39

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: 9.0%
• Equity multiple: 1.37×
• Total profit: $24,545
• Equity at exit: $35,024

10-year hold

• IRR: 21.8%
• Equity multiple: 3.28×
• Total profit: $149,705
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 9 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $229,900 ($106/sqft)
• Median days on market: 110 d
• This list price: 56% of active listings are priced below it
• ARV vs active asking: +42.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12047

• Home prices YoY: -10.7%
• Rents YoY: 7.6%
• Active inventory: 216
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $3,043 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$324 /mo · $3,884/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $751

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,042
Total (2 units)			$3,043

Break-even live

Break-even rent $2,093

Max offer price $234,900

Occupancy floor 70%

Sensitivity live

Price	-10% $884	-5% $817	+0% $751	+5% $684	+10% $618
Rent	-10% $510	-5% $630	+0% $751	+5% $871	+10% $991
Rate	-1.0pp $869	-0.5pp $810	base $751	+0.5pp $690	+1.0pp $628

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,195	$1.00	10d	1	0.03mi
44 Congress St Unit 1R Cohoes, NY	1.0	1.0	—	$1,050	—	51d	1	0.04mi
44 Congress St Unit 2R Cohoes, NY	1.0	1.0	—	$1,000	—	107d	1	0.04mi
192 Remsen St Unit 3A Cohoes, NY	2.0	1.0	—	$1,375	—	107d	1	0.06mi
192 Remsen St Unit 2B Cohoes, NY	1.0	1.0	700	$1,195	$1.71	51d	1	0.06mi
192 Remsen St Unit 3B Cohoes, NY	1.0	1.0	500	$1,295	$2.59	10d	1	0.06mi
24 Hart St Unit 2ND Cohoes, NY	3.0	1.0	—	$1,500	—	107d	1	0.06mi
82 Main St Apt 3 Cohoes, NY	3.0	1.0	—	$1,300	—	2d	1	0.07mi
28 Lancaster St Cohoes, NY	2.0	1.0	900	$1,295	$1.44	10d	1	0.07mi
28 White St Apt 1 Cohoes, NY	3.0	1.0	1000	$2,000	$2.00	107d	1	0.10mi
98 Congress St Cohoes, NY	2.0	2.0	1248	$1,600	$1.28	107d	1	0.11mi
11 Lancaster St Unit 1 Cohoes, NY	1.0	1.0	—	$1,050	—	45d	1	0.11mi
12 White St Cohoes, NY	1.0–2.0	1.0–2.0	—	$2,895	—	0d	3	0.12mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	160d	1	0.12mi
10 Congress St #2 Cohoes, NY	2.0	1.0	—	$1,275	—	184d	1	0.12mi
106 Congress St Cohoes, NY	3.0	1.0	1250	$1,600	$1.28	10d	1	0.13mi
61 White St Cohoes, NY	3.0	1.0	—	$1,600	—	10d	1	0.13mi
134 Remsen St Cohoes, NY	1.0–2.0	1.0	789	$1,925	$2.44	0d	24	0.15mi
134 Remsen St Cohoes, NY	1.0	1.0	910	$1,550	$1.70	155d	1	0.15mi
130 Remsen St Ph 1 Cohoes, NY	1.0	1.0	600	$1,395	$2.33	164d	1	0.16mi
137 Remsen St Unit 2R Cohoes, NY	1.0	1.0	700	$1,275	$1.82	184d	1	0.16mi
129 Main St Cohoes, NY	2.0	1.0	1104	$1,350	$1.22	184d	1	0.17mi
129 Main St Cohoes, NY	2.0	1.0	1104	$1,450	$1.31	10d	1	0.17mi
100 Lancaster St Unit 1 Cohoes, NY	3.0	1.0	—	$1,450	—	107d	1	0.17mi
100 Lancaster St Unit 2 Cohoes, NY	2.0	1.0	990	$1,300	$1.31	10d	1	0.17mi
122 Remsen St Apt 305 Cohoes, NY	1.0	1.0	750	$1,475	$1.97	16d	1	0.18mi
192 Saratoga St Cohoes, NY	1.0–2.0	1.5–2.5	1125	$2,200	$1.96	0d	5	0.18mi
236 Saratoga St Unit 2 Cohoes, NY	1.0	1.0	800	$995	$1.24	10d	1	0.20mi
236 Saratoga St Unit 7 Cohoes, NY	1.0	1.0	500	$995	$1.99	184d	1	0.20mi
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$1,911	$2.21	0d	10	0.20mi
141 Congress St Cohoes, NY	2.0	1.0	528	$1,150	$2.18	2d	1	0.21mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	155d	1	0.22mi
113 Mohawk St Unit 1S Cohoes, NY	1.0	1.0	800	$1,350	$1.69	184d	1	0.23mi
124 Columbia St Fl 2 Cohoes, NY	2.0	1.0	1200	$1,400	$1.17	155d	1	0.23mi
94 Remsen St Unit 3F Cohoes, NY	2.0	1.0	—	$1,300	—	6d	1	0.24mi
46 Lansing St Unit 2 Cohoes, NY	2.0	1.0	1100	$1,450	$1.32	6d	1	0.24mi
159 Main St #2 Cohoes, NY	3.0	1.0	950	$1,175	$1.24	51d	1	0.24mi
241 Saratoga St Unit 3F Cohoes, NY	1.0	1.0	—	$1,250	—	10d	1	0.24mi
16 McElwain Ave Apt 2 Cohoes, NY	2.0	1.0	750	$1,300	$1.73	14d	1	0.30mi
16 McElwain Ave Apt 2 Cohoes, NY	2.0	1.0	750	$1,300	$1.73	10d	1	0.30mi

Listing history 50 events

1. 2026-09-30
   days on market $234,900 Active 183 DOM
2. 2026-09-29
   days on market $234,900 Active 182 DOM
3. 2026-09-28
   days on market $234,900 Active 181 DOM
4. 2026-09-27
   days on market $234,900 Active 180 DOM
5. 2026-09-25
   days on market $234,900 Active 178 DOM
6. 2026-09-24
   days on market $234,900 Active 177 DOM
7. 2026-09-23
   days on market $234,900 Active 176 DOM
8. 2026-09-22
   days on market $234,900 Active 175 DOM
9. 2026-09-21
   days on market $234,900 Active 174 DOM
10. 2026-09-20
    days on market $234,900 Active 173 DOM
11. 2026-09-19
    days on market $234,900 Active 172 DOM
12. 2026-09-18
    days on market $234,900 Active 171 DOM
13. 2026-09-17
    days on market $234,900 Active 170 DOM
14. 2026-09-16
    days on market $234,900 Active 169 DOM
15. 2026-09-15
    days on market $234,900 Active 168 DOM
16. 2026-09-14
    days on market $234,900 Active 167 DOM
17. 2026-09-13
    days on market $234,900 Active 166 DOM
18. 2026-09-12
    days on market $234,900 Active 165 DOM
19. 2026-09-11
    days on market $234,900 Active 164 DOM
20. 2026-09-05
    days on market $234,900 Active 158 DOM
21. 2026-09-04
    days on market $234,900 Active 157 DOM
22. 2026-09-03
    days on market $234,900 Active 156 DOM
23. 2026-08-31
    days on market $234,900 Active 153 DOM
24. 2026-08-30
    days on market $234,900 Active 152 DOM
25. 2026-08-29
    days on market $234,900 Active 151 DOM
26. 2026-08-28
    days on market $234,900 Active 150 DOM
27. 2026-08-27
    days on market $234,900 Active 149 DOM
28. 2026-08-26
    days on market $234,900 Active 148 DOM
29. 2026-08-25
    days on market $234,900 Active 147 DOM
30. 2026-08-24
    days on market $234,900 Active 146 DOM
31. 2026-08-23
    days on market $234,900 Active 145 DOM
32. 2026-08-22
    days on market $234,900 Active 144 DOM
33. 2026-08-21
    days on market $234,900 Active 143 DOM
34. 2026-08-20
    days on market $234,900 Active 142 DOM
35. 2026-08-19
    days on market $234,900 Active 141 DOM
36. 2026-08-18
    days on market $234,900 Active 140 DOM
37. 2026-08-17
    days on market $234,900 Active 139 DOM
38. 2026-08-16
    days on market $234,900 Active 138 DOM
39. 2026-08-15
    days on market $234,900 Active 137 DOM
40. 2026-08-14
    days on market $234,900 Active 136 DOM
41. 2026-08-13
    days on market $234,900 Active 135 DOM
42. 2026-08-12
    days on market $234,900 Active 134 DOM
43. 2026-08-11
    days on market $234,900 Active 133 DOM
44. 2026-08-10
    days on market $234,900 Active 132 DOM
45. 2026-08-09
    days on market $234,900 Active 131 DOM
46. 2026-08-08
    days on market $234,900 Active 130 DOM
47. 2026-08-07
    days on market $234,900 Active 129 DOM
48. 2026-08-06
    days on market $234,900 Active 128 DOM
49. 2026-08-05
    days on market $234,900 Active 127 DOM
50. 2026-08-04
    days on market $234,900 Active 126 DOM

ⓘ 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: $36,516
• − Mortgage interest: −$13,158
• − Property taxes: −$3,884
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,921
• − Management: −$2,921
• − Depreciation: −$6,833
• Taxable income: $5,624
• Est. tax owed @ 24.0%: −$1,350
• After-tax cash flow: $7,658/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $51,700–$93,060 screening

This two-unit property requires moderate repairs and maintenance, with a focus on exterior painting and flooring replacement to improve its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good Flooring wood

Deferred maintenance Est. $3,000–$12,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear
• Minor Other — No visible signs of damage or wear

Repairs flagged

• Major Paint — Peeling paint on the front facade suggests significant wear and tear.
• Minor Appliances — Some items are visible on countertops, indicating they are not in use.

Value-add opportunities

• Both Paint exterior — Fresh paint can improve curb appeal and property value. ↑
• Both Replace worn flooring — New flooring can improve the overall look and feel of the home. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Abram Lansing School F NY #1,277/2,108 Nat'l #16,061/41,679 Middle Cohoes Middle School F NY #497/729 Nat'l #7,813/14,009 High Cohoes High School B+ NY #665/1,100 Nat'l #1,809/17,239

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

A Composite livability gradescore 83/100

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 · 320,794 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: 6% of renters

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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%

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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%
• Languages at home: 87% English-only · Spanish 3% Other Indo-European 3% Chinese 2%

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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

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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.