4 Congress St · Cohoes, NY 12047

$170,000

4 bd · 2.5 ba · 1,848 sqft · MultiFamily public records · 52 Days on market

Built 1925 2,613 sqft lot Est $207k · 18% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to this unique two-family home, a stunning blend of modern amenities and classic charm, spanning 1,848 square feet of well-appointed living space. The property offers two lovely units built to suit varied lifestyles. The larger unit features three spacious bedrooms, an airy living room, and a contemporary kitchen perfect for both casual meals and lively gatherings. The cozy one-bedroom unit provides a private sanctuary with a smart layout, updated finishes, and abundant natural light throughout its compact yet efficient design. Each unit features modern bathrooms, ample storage, and well-lit interiors that highlight quality craftsmanship and attention to detail. In a prime neighborh

Key facts

• 2,613 sq ft lot
• Built 1925
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 1×3bd/1.5ba + 1×2bd/1ba units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $753/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,342/mo this rent would consume 61% 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 $5k 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 $48k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.97% ✓
• Cap rate: 16.93%
• Cash-on-cash: 37.98%
• DSCR: 2.69
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $206,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Congress St	0.00mi	4/2.5	1,848 (0%)	3mo	$160,000	$87	98
46 White St	0.05mi	5/2.0 (+1)	1,900 (+3%)	10mo	$250,000	$132	78
61 Main St	0.14mi	4/2.0	2,040 (+10%)	10mo	$317,000	$155	66
35 Grant St	0.25mi	4/2.0	2,100 (+14%)	0mo	$150,000	$71	63
90 Central Ave	0.46mi	4/2.0	1,930 (+4%)	10mo	$175,000	$91	61
41 Saratoga Ave	0.74mi	4/2.0	1,842 (-0%)	4mo	$375,000	$204	60
157 Congress St	0.40mi	5/2.0 (+1)	1,936 (+5%)	10mo	$205,000	$106	58
46 Clifton St	0.62mi	5/2.0 (+1)	1,744 (-6%)	1mo	$195,000	$112	54
26 Erie St	0.72mi	4/2.0	1,740 (-6%)	3mo	$180,540	$104	52
172 Congress St	0.43mi	5/2.0 (+1)	2,094 (+13%)	8mo	$120,000	$57	44
98 Hudson Ave	0.75mi	4/2.0	1,672 (-10%)	7mo	$230,000	$138	41
120 Mann Ave	0.61mi	4/2.0	2,112 (+14%)	7mo	$305,000	$144	40

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: 39.1%
• Equity multiple: 2.78×
• Total profit: $84,613
• Equity at exit: $25,348

10-year hold

• IRR: 47.7%
• Equity multiple: 6.68×
• Total profit: $270,379
• Equity at exit: $14,698

Cash invested: $47,600 (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: 7.8×

Monthly cashflow live

• Estimated rent: $3,342 high
• Mortgage (P&I): −$891
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $1,507

Break-even live

Break-even rent $1,435

Max offer price $170,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,603	-5% $1,555	+0% $1,507	+5% $1,458	+10% $1,410
Rent	-10% $1,242	-5% $1,375	+0% $1,507	+5% $1,639	+10% $1,771
Rate	-1.0pp $1,592	-0.5pp $1,550	base $1,507	+0.5pp $1,462	+1.0pp $1,418

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,815
1× unit	2	1	$1,527
Total (2 units)			$3,342

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	20d	1	0.08mi
192 Saratoga St Cohoes, NY	1.0–3.0	1.0–3.0	1157	$2,600	$2.25	15d	4	0.20mi
6 Hamilton Pl Unit 2 Cohoes, NY	3.0	1.0	2300	$1,999	$0.87	20d	1	0.58mi
100 N Mohawk St Cohoes, NY	1.0–3.0	1.0–3.0	1769	$3,840	$2.17	15d	18	0.67mi
53 Park Ave Cohoes, NY	3.0	1.0	1875	$1,600	$0.85	15d	1	0.77mi
8 Cindy Way Cohoes, NY	3.0	1.5	1420	$2,300	$1.62	44d	1	0.86mi
290 2nd Ave Troy, NY	3.0	1.0	1400	$1,600	$1.14	22d	1	1.22mi

Listing history 26 events

1. 2026-04-27
   soldstatus $160,000
2. 2026-02-04
   status Pending
3. 2026-01-05
   price $170,000
4. 2026-01-01
   status Active
5. 2025-12-23
   historical
6. 2025-12-05
   listed $175,000 Active
7. 2025-04-29
   status Active
8. 2025-03-31
   status Pending
9. 2025-03-31
   historical
10. 2025-03-18
    price $170,000
11. 2025-03-03
    price $180,000
12. 2025-02-19
    price $190,000
13. 2025-02-11
    listed $200,000 Active
14. 2023-04-28
    soldstatus $100,000
15. 2019-10-23
    historical
16. 2019-10-03
    price $85,000
17. 2019-08-27
    price $90,000
18. 2019-07-30
    listed $100,000 New
19. 2017-01-24
    soldstatus $85,000
20. 2017-01-12
    soldstatus $85,000 Closed (Final Sale)
21. 2016-10-17
    status Pend (Under Cntr)
22. 2016-10-09
    listed $100,000 New
23. 2011-06-03
    soldstatus $30,000
24. 2011-01-01
    historical
25. 2010-03-21
    listed $49,900
26. 1998-10-09
    soldstatus $21,470

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $2,464 · $205/mo
• Expected delta: +$408/yr (+$34/mo · 19.9%)

ⓘ 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 4/10 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: $40,104
• − Mortgage interest: −$9,523
• − Property taxes: −$2,056
• − Insurance: −$850
• − Repairs & maintenance: −$3,208
• − Management: −$3,208
• − Depreciation: −$4,945
• Taxable income: $16,313
• Est. tax owed @ 24.0%: −$3,915
• After-tax cash flow: $14,163/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

+645.2% since first listed

26 events — show timeline

• 2026-04-27 Sold (Public Records) $160,000 Public Records
• 2026-02-04 Pending — Global MLS
• 2026-01-05 Price Changed $170,000 Global MLS
• 2026-01-01 Relisted — Global MLS
• 2025-12-23 Listing Removed — Global MLS
• 2025-12-05 Listed $175,000 Global MLS
• 2025-04-29 Relisted — Global MLS
• 2025-03-31 Pending — Global MLS
• 2025-03-31 Listing Removed — Global MLS
• 2025-03-18 Price Changed $170,000 Global MLS
• 2025-03-03 Price Changed $180,000 Global MLS
• 2025-02-19 Price Changed $190,000 Global MLS
• 2025-02-11 Listed $200,000 Global MLS
• 2023-04-28 Sold (Public Records) $100,000 Public Records
• 2019-10-23 Listing Removed — Global MLS
• 2019-10-03 Price Changed $85,000 Global MLS
• 2019-08-27 Price Changed $90,000 Global MLS
• 2019-07-30 Listed $100,000 Global MLS
• 2017-01-24 Sold (Public Records) $85,000 Public Records
• 2017-01-12 Sold (MLS) $85,000 Global MLS
• 2016-10-17 Pending — Global MLS
• 2016-10-09 Listed $100,000 Global MLS
• 2011-06-03 Sold (Public Records) $30,000 Public Records
• 2011-01-01 Listing Removed — Global MLS
• 2010-03-21 Listed $49,900 Global MLS
• 1998-10-09 Sold (Public Records) $21,470 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,056 · -17.2% YoY. Source: county tax records.