10 Pheasant Run · Cohoes, NY 12188

$399,990

4 bd · 2.5 ba · 1,830 sqft · MultiFamily public records · 9 Days on market

Built 1984 0.45 ac lot Est $329k · 21% over

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Why this score? — see what drove the F 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 +11.7/30.0
• Schools +6.5/10.0
• Livability +4.2/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Perfect property for first-time home buyers or add to your investment portfolio. Solar panels are owned and provide a reduced electric cost on utilities. Both units have 2 bedrooms, and 2 full baths. The basement has an area for storage, and washer/dryer hookups. large fenced in backyard and stone patio for fun outside activities.

Key facts

• Shen school district
• Modernized baths
• Modernized kitchens

Tags

• SHEN SCHOOL DISTRICT
• MODERNIZED KITCHENS
• MODERNIZED BATHS
• SOLAR PANELS
• STORAGE AREA
• WASHER DRYER HOOK UPS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative. Per door: $-59/mo.
• To cash-flow at today's rent, offer at most $379k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $338k (15.5% below list).
• Recommended offer: $338k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.7% in Cohoes — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-.
• Shenendehowa Central School District (suburban): math 72% / reading 73% proficiency, ranked #98 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Shatekon Elementary School (math 72% / reading 70%, grade A-, #434 of 2,108 statewide, top 21%, 532 students, 29% FRL); Koda Middle School (math 51% / reading 64%, grade B, #187 of 729 statewide, top 26%, 751 students, 21% FRL); Shenendehowa High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 3,036 students, 21% FRL).
• Market conditions: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• This rent runs 44% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $325k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $337,900 (15.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $329,400
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Suncrest Dr	0.13mi	4/3.0	2,008 (+10%)	17mo	$350,000	$174	61
41 Suncrest Dr	0.24mi	4/2.0	2,080 (+14%)	20mo	$375,000	$180	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.36×
• Total profit: $-72,205
• Equity at exit: $59,640

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-72,210
• Equity at exit: $34,584

Cash invested: $111,997 (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 12188

• Home prices YoY: -13.3%
• Active inventory: 48
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $3,379 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$522 /mo · $6,266/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $-117

Break-even live

Break-even rent $3,527

Max offer price $379,316

Occupancy floor 98%

Sensitivity live

Price	-10% $109	-5% $-4	+0% $-117	+5% $-230	+10% $-343
Rent	-10% $-384	-5% $-250	+0% $-117	+5% $16	+10% $150
Rate	-1.0pp $84	-0.5pp $-15	base $-117	+0.5pp $-221	+1.0pp $-326

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,378
Total (2 units)			$3,379

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: $99,998
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
59 Nantucket St Cohoes, NY	4.0	3.0	1820	$3,400	$1.87	16d	1	1.43mi

Listing history 11 events

1. 2026-04-03
   status Pending
2. 2026-03-24
   listed $399,990 Active
3. 2024-05-07
   soldstatus $325,000
4. 2024-04-30
   soldstatus $325,000 Closed 332-char remark

   Show marketing remark (332 chars)

   Perfect property for first-time home buyers or add to your investment portfolio. Solar panels are owned and provide a reduced electric cost on utilities. Both units have 2 bedrooms, and 2 full baths. The basement has an area for storage, and washer/dryer hookups. large fenced in backyard and stone patio for fun outside activities.

5. 2024-02-18
   status Pending 332-char remark

   Show marketing remark (332 chars)

   Perfect property for first-time home buyers or add to your investment portfolio. Solar panels are owned and provide a reduced electric cost on utilities. Both units have 2 bedrooms, and 2 full baths. The basement has an area for storage, and washer/dryer hookups. large fenced in backyard and stone patio for fun outside activities.

6. 2024-02-13
   listed $294,000 Active 332-char remark

   Show marketing remark (332 chars)

   Perfect property for first-time home buyers or add to your investment portfolio. Solar panels are owned and provide a reduced electric cost on utilities. Both units have 2 bedrooms, and 2 full baths. The basement has an area for storage, and washer/dryer hookups. large fenced in backyard and stone patio for fun outside activities.

7. 2019-05-02
   soldstatus $250,000 Closed (Final Sale) 373-char remark

   Show marketing remark (373 chars)

   They don't come that often. This nicely maintained duplex located in Shen Schools, is freshly painted and lovingly maintained. The owners unit has its own solar energy system. This is not a leased system. That’s right you can live here for almost free! More information on the solar energy system available. This home is shown by appointment only. Excellent Condition

8. 2019-03-14
   status Pend (Under Cntr) 373-char remark

   Show marketing remark (373 chars)

   They don't come that often. This nicely maintained duplex located in Shen Schools, is freshly painted and lovingly maintained. The owners unit has its own solar energy system. This is not a leased system. That’s right you can live here for almost free! More information on the solar energy system available. This home is shown by appointment only. Excellent Condition

9. 2019-02-06
   price $269,900 373-char remark

   Show marketing remark (373 chars)

   They don't come that often. This nicely maintained duplex located in Shen Schools, is freshly painted and lovingly maintained. The owners unit has its own solar energy system. This is not a leased system. That’s right you can live here for almost free! More information on the solar energy system available. This home is shown by appointment only. Excellent Condition

10. 2019-01-04
    listed $274,900 New 373-char remark

    Show marketing remark (373 chars)

    They don't come that often. This nicely maintained duplex located in Shen Schools, is freshly painted and lovingly maintained. The owners unit has its own solar energy system. This is not a leased system. That’s right you can live here for almost free! More information on the solar energy system available. This home is shown by appointment only. Excellent Condition

11. 2004-02-09
    soldstatus $117,500

ⓘ 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: $6,266 · $522/mo
• Projected year-2 tax: $6,513 · $543/mo
• Expected delta: +$247/yr (+$21/mo · 3.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $40,548
• − Mortgage interest: −$22,406
• − Property taxes: −$6,266
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,244
• − Management: −$3,244
• − Depreciation: −$11,636
• Taxable loss: −$8,248
• Est. tax savings @ 24.0%: +$1,979
• After-tax cash flow: $575/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: Shenendehowa Central School District
• NCES district ID: 3626670
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 73% ▲ 3.00%
• Median HH income: $82,933
• Composite: 64.59/100
• National rank: #531
• State rank: #98 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

• County: Saratoga County · 166,192 people
• City population: 23,532
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,988
• Household income: $92,279
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 129.0

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Two or more races 4% Black 3% Native American 2% Asian 1%
• Common ancestry: Lithuanian 8% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 2% Other Indo-European 2% Spanish 1%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.55%
• Current HPI: 316.5619
• Rent YoY: —
• 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

+240.4% since first listed

11 events — show timeline

• 2026-04-03 Pending — Global MLS
• 2026-03-24 Listed $399,990 Global MLS
• 2024-05-07 Sold (Public Records) $325,000 Public Records
• 2024-04-30 Sold (MLS) $325,000 Global MLS
• 2024-02-18 Pending — Global MLS
• 2024-02-13 Listed $294,000 Global MLS
• 2019-05-02 Sold (MLS) $250,000 Global MLS
• 2019-03-14 Pending — Global MLS
• 2019-02-06 Price Changed $269,900 Global MLS
• 2019-01-04 Listed $274,900 Global MLS
• 2004-02-09 Sold (Public Records) $117,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,266 · +22.2% YoY. Source: county tax records.