122 Hudson Ave · Cohoes, NY 12047

$214,900

4 bd · 2.0 ba · 1,892 sqft · MultiFamily public records · 6 Days on market

Built 1910 2,613 sqft lot Est $225k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.5/15.0
• 1% rule +9.3/10.0
• 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

* * Multiple Offers received and due by 11/24 at 8pm. * * Welcome to this exceptionally well-maintained two-family home, perfectly situated just a short walk from Van Schaick Island Country Club, Van Schaick Elementary School and neighborhood park. With quick access to I-787 and only minutes from the scenic Peebles Island State Park, this property sits in one of the Capital Region's most convenient locations. This property presents a fantastic opportunity—whether you're looking for an investment with strong rental potential or a place to call home while generating additional income. The first-floor unit is vacant and truly move-in ready. The owners have shown meticulous care throug

Key facts

• Move-in ready
• Gas lines updated
• Two-family home

Tags

• TWO-FAMILY HOME
• QUICK ACCESS TO I-787
• FIRST-FLOOR UNIT IS VACANT
• MOVE-IN READY
• NEW GUTTERS INSTALLED
• GAS LINES UPDATED

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive. Per door: $487/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 11.7% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,070/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 $1k of loan paydown is wiped out by about $6k 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 $60k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $215k implies a 258% 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 $214,900

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 1910 — 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: 1.43% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.44%
• DSCR: 1.87
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $225,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Hudson Ave	0.05mi	4/2.0	1,980 (+5%)	14mo	$282,500	$143	78
98 Hudson Ave	0.07mi	4/2.0	1,672 (-12%)	7mo	$230,000	$138	72
76 3rd St	0.19mi	4/2.0	2,144 (+13%)	11mo	$236,000	$110	60
4 Congress St	0.69mi	4/2.5	1,848 (-2%)	3mo	$160,000	$87	60
157 Congress St	0.49mi	5/2.0 (+1)	1,936 (+2%)	10mo	$205,000	$106	60
90 Central Ave	0.63mi	4/2.0	1,930 (+2%)	10mo	$175,000	$91	59
46 Continental Ave	0.57mi	4/2.0	1,832 (-3%)	12mo	$242,000	$132	58
46 White St	0.66mi	5/2.0 (+1)	1,900 (+0%)	10mo	$250,000	$132	55
100 Lancaster St	0.55mi	5/2.0 (+1)	1,976 (+4%)	11mo	$235,000	$119	52
61 Main St	0.58mi	4/2.0	2,040 (+8%)	10mo	$317,000	$155	52
172 Congress St	0.46mi	5/2.0 (+1)	2,094 (+11%)	8mo	$120,000	$57	49
443-445 3rd Ave	0.74mi	5/2.0 (+1)	1,792 (-5%)	10mo	$172,000	$96	44

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: 16.5%
• Equity multiple: 1.70×
• Total profit: $42,162
• Equity at exit: $32,042

10-year hold

• IRR: 28.2%
• Equity multiple: 4.06×
• Total profit: $183,870
• Equity at exit: $18,581

Cash invested: $60,172 (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: 11.7×

Monthly cashflow live

• Estimated rent: $3,070 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$234 /mo · $2,807/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $975

Break-even live

Break-even rent $1,836

Max offer price $214,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,070
Total (2 units)			$3,070

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	14d	4	0.46mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	19d	1	0.57mi
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	21d	1	0.58mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	14d	1	0.59mi
157 6th Ave Unit 2 Troy, NY	3.0	1.0	1300	$1,350	$1.04	19d	1	0.89mi
131 6th Ave Troy, NY	4.0	1.0	1400	$2,325	$1.66	14d	1	0.92mi
6 Hamilton Pl Unit 2 Cohoes, NY	3.0	1.0	2300	$1,999	$0.87	19d	1	1.23mi
100 N Mohawk St Cohoes, NY	1.0–3.0	1.0–3.0	1769	$3,840	$2.17	14d	18	1.27mi
750 2nd Ave Troy, NY	1.0–3.0	1.0–1.5	1185	$1,711	$1.44	14d	1	1.34mi

Listing history 3 events

1. 2025-11-25
   status Pending
2. 2025-11-19
   listed $214,900 Active
3. 2012-04-17
   soldstatus $60,000

ⓘ 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: $2,807 · $234/mo
• Projected year-2 tax: $3,219 · $268/mo
• Expected delta: +$413/yr (+$34/mo · 14.7%)

ⓘ 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 2/10 Low
• 🌡 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: $36,840
• − Mortgage interest: −$12,038
• − Property taxes: −$2,807
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,947
• − Management: −$2,947
• − Depreciation: −$6,252
• Taxable income: $8,775
• Est. tax owed @ 24.0%: −$2,106
• After-tax cash flow: $9,593/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

+258.2% since first listed

3 events — show timeline

• 2025-11-25 Pending — Global MLS
• 2025-11-19 Listed $214,900 Global MLS
• 2012-04-17 Sold (Public Records) $60,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,807 · -20.9% YoY. Source: county tax records.