46 Clifton St · Cohoes, NY 12188

$218,900

6 bd · 2.0 ba · 1,744 sqft · MultiFamily public records · 211 Days on market

Built 1918 2,178 sqft lot Est $227k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• Schools +5.1/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great Owner Occupant or Investment property in Waterford's Northside neighborhood. Updated units with newer kitchens and baths, tons of storage, fenced in back yard and separate utilities. Rents could be higher. *** 24 Hour Notice requested for Tenants convenience. *** -- Very Good Condition

Key facts

• 2,178 sq ft lot
• Built 1918
• Listed 211 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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-.
• Waterford-Halfmoon Union Free School District (rural): math 60% / reading 54% proficiency, ranked #322 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Waterford-Halfmoon Elementary School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 402 students, 45% FRL); Waterford-Halfmoon Junior-Senior High School (math 62% / reading 44%, grade C-, #934 of 1,100 statewide, top 86%, 336 students, 36% FRL).
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $4,337/mo this rent would consume 56% of the median local household income ($92k/yr) (locally 129% 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.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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 $107k; list at $219k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $192,632 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.98% ✓
• Cap rate: 16.33%
• Cash-on-cash: 35.84%
• DSCR: 2.59
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $226,720
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Clifton St	0.00mi	5/2.0 (-1)	1,744 (0%)	1mo	$195,000	$112	94
52 Grace St	0.12mi	6/2.0	1,804 (+3%)	9mo	$235,000	$130	81
96 Heartt Ave	0.73mi	6/2.0	1,936 (+11%)	5mo	$305,000	$158	44
46 White St	0.67mi	5/2.0 (-1)	1,900 (+9%)	10mo	$250,000	$132	41
9-11 Congress St	0.64mi	5/2.0 (-1)	1,554 (-11%)	7mo	$200,000	$129	41
11 Broadway	0.71mi	5/2.0 (-1)	1,928 (+11%)	17mo	$155,000	$80	30

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: 31.6%
• Equity multiple: 2.33×
• Total profit: $81,235
• Equity at exit: $32,639

10-year hold

• IRR: 38.7%
• Equity multiple: 4.61×
• Total profit: $221,338
• Equity at exit: $18,926

Cash invested: $61,292 (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: 12.6×

Monthly cashflow live

• Estimated rent: $4,337 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$357 /mo · $4,278/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$911
• Net cashflow: $1,831

Break-even live

Break-even rent $2,020

Max offer price $218,900

Occupancy floor 53%

Sensitivity live

Price	-10% $1,954	-5% $1,893	+0% $1,831	+5% $1,769	+10% $1,707
Rent	-10% $1,488	-5% $1,659	+0% $1,831	+5% $2,002	+10% $2,173
Rate	-1.0pp $1,941	-0.5pp $1,886	base $1,831	+0.5pp $1,774	+1.0pp $1,716

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,338
Total (3 units)			$4,337

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: $54,725
• Closing costs: $6,567
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-04-17
   status Pending
2. 2026-03-05
   price $218,900
3. 2026-02-12
   price $219,900
4. 2025-09-17
   listed $225,000 Active
5. 2018-06-14
   soldstatus $107,000
6. 2018-06-08
   soldstatus $107,000 Closed (Final Sale) 292-char remark

   Show marketing remark (292 chars)

   Great Owner Occupant or Investment property in Waterford's Northside neighborhood. Updated units with newer kitchens and baths, tons of storage, fenced in back yard and separate utilities. Rents could be higher. *** 24 Hour Notice requested for Tenants convenience. *** -- Very Good Condition

7. 2018-04-16
   status Pend (Under Cntr) 292-char remark

   Show marketing remark (292 chars)

   Great Owner Occupant or Investment property in Waterford's Northside neighborhood. Updated units with newer kitchens and baths, tons of storage, fenced in back yard and separate utilities. Rents could be higher. *** 24 Hour Notice requested for Tenants convenience. *** -- Very Good Condition

8. 2018-03-29
   listed $110,000 New 292-char remark

   Show marketing remark (292 chars)

   Great Owner Occupant or Investment property in Waterford's Northside neighborhood. Updated units with newer kitchens and baths, tons of storage, fenced in back yard and separate utilities. Rents could be higher. *** 24 Hour Notice requested for Tenants convenience. *** -- Very Good Condition

9. 2018-01-05
   soldstatus $15,000 Closed (Final Sale) 352-char remark

   Show marketing remark (352 chars)

   Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

10. 2017-12-03
    status Pend (Under Cntr) 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

11. 2017-11-01
    price $17,900 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

12. 2017-10-23
    status Back On Market 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

13. 2017-08-04
    status Pend (Under Cntr) 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

14. 2017-05-31
    price $19,900 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

15. 2017-04-24
    price $24,900 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

16. 2016-12-19
    price $29,900 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

17. 2016-12-05
    listed $34,900 New 352-char remark

    Show marketing remark (352 chars)

    Calling All investors! This is a great opportunity to make some extra income. The numbers all work. Owner Financing for qualified buyers at 5 years, 10 percent interest. 15 percent down. Payment would be under $750 a month. SOLD AS IS..... actual address is 46 Clifton st rear. See directions for more details.Agent is the owners wife -- Fair Condition

18. 2007-01-05
    soldstatus $92,000
19. 2006-12-22
    soldstatus $92,000
20. 2006-11-10
    historical
21. 2006-09-13
    listed $90,000
22. 2002-07-18
    soldstatus $30,000
23. 2001-09-07
    soldstatus $89,000
24. 2001-01-13
    listed $37,900

ⓘ 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: $4,278 · $357/mo
• Projected year-2 tax: $4,278 · $357/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥98°F today · 16 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: $52,044
• − Mortgage interest: −$12,262
• − Property taxes: −$4,278
• − Insurance: −$1,094
• − Repairs & maintenance: −$4,164
• − Management: −$4,164
• − Depreciation: −$6,368
• Taxable income: $19,714
• Est. tax owed @ 24.0%: −$4,731
• After-tax cash flow: $17,235/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: Waterford-Halfmoon Union Free School District
• NCES district ID: 3630060
• Math proficiency: 60% ▲ 3.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $53,359
• Composite: 50.65/100
• National rank: #3943
• State rank: #322 of 755 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

+477.6% since first listed

24 events — show timeline

• 2026-04-17 Pending — Global MLS
• 2026-03-05 Price Changed $218,900 Global MLS
• 2026-02-12 Price Changed $219,900 Global MLS
• 2025-09-17 Listed $225,000 Global MLS
• 2018-06-14 Sold (Public Records) $107,000 Public Records
• 2018-06-08 Sold (MLS) $107,000 Global MLS
• 2018-04-16 Pending — Global MLS
• 2018-03-29 Listed $110,000 Global MLS
• 2018-01-05 Sold (MLS) $15,000 Global MLS
• 2017-12-03 Pending — Global MLS
• 2017-11-01 Price Changed $17,900 Global MLS
• 2017-10-23 Relisted — Global MLS
• 2017-08-04 Pending — Global MLS
• 2017-05-31 Price Changed $19,900 Global MLS
• 2017-04-24 Price Changed $24,900 Global MLS
• 2016-12-19 Price Changed $29,900 Global MLS
• 2016-12-05 Listed $34,900 Global MLS
• 2007-01-05 Sold (Public Records) $92,000 Public Records
• 2006-12-22 Sold (MLS) $92,000 Global MLS
• 2006-11-10 Listing Removed — Global MLS
• 2006-09-13 Listed $90,000 Global MLS
• 2002-07-18 Sold (Public Records) $30,000 Public Records
• 2001-09-07 Sold (MLS) $89,000 Global MLS
• 2001-01-13 Listed $37,900 Global MLS

Property tax history

+6.1%/yr

Latest (2025): $4,278 · +2.2% YoY. Source: county tax records.