1 Cataract St · Cohoes, NY 12047

$425,000

6 bd · 3.0 ba · 1,890 sqft · MultiFamily public records · 90 Days on market

Built 1900 1,742 sqft lot $225/sqft · 58% above area Est $539k · 21% 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.6/10.0
• 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: 3 units. confirmed

Listing remarks MLS

1 & 3 Cataract St. though deeded separately are connected and being sold together. They are situated at the end of the block backing to the Mohawk River, adjacent to Harmony Mills. There are 6 units total. 4 are occupied, 2 are vacant. The 2 vacant units are in building 3 and are in need of updating/renovation. Unit 1 is a larger project in rough condition. Unit 2 needs turnover work.

Key facts

• 4 occupied
• Updating renovation
• 6 units total

Tags

• 6 UNITS TOTAL
• 4 OCCUPIED
• 2 VACANT
• UPDATING RENOVATION

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $420/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,949/mo this rent would consume 90% 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 $3k of loan paydown is wiped out by about $13k 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 $119k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $75k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $425k implies a 431% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $399,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.72%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (median comp): $538,854
• List price: $425,000
• Delta: -21.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Reservoir St	0.18mi	6/2.5	2,116 (+12%)	2mo	$247,500	$117	68
199 Vliet Blvd	0.62mi	6/2.0	1,892 (+0%)	2mo	$238,000	$126	66
52 Grace St	0.37mi	6/2.0	1,804 (-5%)	9mo	$235,000	$130	63
89 Egbert St	0.14mi	6/2.0	2,124 (+12%)	11mo	$156,500	$74	60
46 Clifton St	0.40mi	5/2.0 (-1)	1,744 (-8%)	1mo	$195,000	$112	59
23 Sargent St	0.65mi	6/3.0	2,100 (+11%)	5mo	$290,000	$138	47
11 Broadway	0.65mi	5/2.0 (-1)	1,928 (+2%)	17mo	$155,000	$80	43
27 Division St	0.28mi	6/2.0	2,134 (+13%)	22mo	$205,000	$96	43

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: 7.2%
• Equity multiple: 1.30×
• Total profit: $35,307
• Equity at exit: $63,369

10-year hold

• IRR: 20.0%
• Equity multiple: 3.03×
• Total profit: $241,909
• Equity at exit: $36,746

Cash invested: $119,000 (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: 21.5×

Monthly cashflow live

• Estimated rent: $4,949 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$243 /mo · $2,915/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,039
• Net cashflow: $1,261

Break-even live

Break-even rent $3,353

Max offer price $425,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$4,950
Total (3 units)			$4,949

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $425,000 Active 90 DOM
2. 2026-06-17
   days on market $425,000 Active 89 DOM
3. 2026-06-16
   days on market $425,000 Active 88 DOM
4. 2026-06-15
   days on market $425,000 Active 87 DOM
5. 2026-06-14
   days on market $425,000 Active 85 DOM
6. 2026-06-13
   days on market $425,000 Active 84 DOM
7. 2026-06-10
   pricedays on market $425,000 Active 82 DOM
8. 2026-06-09
   days on market $475,000 Active 81 DOM
9. 2026-06-08
   days on market $475,000 Active 80 DOM
10. 2026-06-07
    days on market $475,000 Active 79 DOM
11. 2026-06-03
    days on market $475,000 Active 75 DOM
12. 2026-06-02
    days on market $475,000 Active 74 DOM
13. 2026-06-01
    days on market $475,000 Active 73 DOM
14. 2026-05-31
    days on market $475,000 Active 72 DOM
15. 2026-05-31
    days on market $475,000 Active 71 DOM
16. 2026-04-23
    price $475,000 394-char remark

    Show marketing remark (394 chars)

    1 & 3 Cataract St. though deeded separately are connected and being sold together. They are situated at the end of the block backing to the Mohawk River, adjacent to Harmony Mills. There are 6 units total. 4 are occupied, 2 are vacant. The 2 vacant units are in building 3 and are in need of updating/renovation. Unit 1 is a larger project in rough condition. Unit 2 needs turnover work.

17. 2026-03-20
    listed $499,900 Active 394-char remark

    Show marketing remark (394 chars)

    1 & 3 Cataract St. though deeded separately are connected and being sold together. They are situated at the end of the block backing to the Mohawk River, adjacent to Harmony Mills. There are 6 units total. 4 are occupied, 2 are vacant. The 2 vacant units are in building 3 and are in need of updating/renovation. Unit 1 is a larger project in rough condition. Unit 2 needs turnover work.

18. 2014-02-20
    soldstatus $80,000 181-char remark

    Show marketing remark (181 chars)

    3 Family opportunity on the hill in Cohoes overlooking the falls. This nicely maintained property offers stable tenancies, separate utilities and good cash flow. Very Good Condition

19. 2014-01-16
    historical 181-char remark

    Show marketing remark (181 chars)

    3 Family opportunity on the hill in Cohoes overlooking the falls. This nicely maintained property offers stable tenancies, separate utilities and good cash flow. Very Good Condition

20. 2013-12-10
    listed $84,900 181-char remark

    Show marketing remark (181 chars)

    3 Family opportunity on the hill in Cohoes overlooking the falls. This nicely maintained property offers stable tenancies, separate utilities and good cash flow. Very Good Condition

21. 2013-12-10
    historical

    Show marketing remark (181 chars)

    3 Family opportunity on the hill in Cohoes overlooking the falls. This nicely maintained property offers stable tenancies, separate utilities and good cash flow. Very Good Condition

22. 2013-06-12
    listed $84,900
23. 2013-06-10
    historical
24. 2013-01-07
    listed $99,900
25. 2008-09-10
    historical
26. 2008-03-24
    listed $134,900
27. 2005-09-14
    soldstatus $102,000

ⓘ 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: $2,915 · $243/mo
• Projected year-2 tax: $5,049 · $421/mo
• Expected delta: +$2,134/yr (+$178/mo · 73.2%)

ⓘ 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: $59,388
• − Mortgage interest: −$23,807
• − Property taxes: −$2,915
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,751
• − Management: −$4,751
• − Depreciation: −$12,364
• Taxable income: $8,675
• Est. tax owed @ 24.0%: −$2,082
• After-tax cash flow: $13,049/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

+365.7% since first listed

12 events — show timeline

• 2026-04-23 Price Changed $475,000 Global MLS
• 2026-03-20 Listed $499,900 Global MLS
• 2014-02-20 Sold (MLS) $80,000 Global MLS
• 2014-01-16 Listing Removed — Global MLS
• 2013-12-10 Listing Removed — Global MLS
• 2013-12-10 Listed $84,900 Global MLS
• 2013-06-12 Listed $84,900 Global MLS
• 2013-06-10 Listing Removed — Global MLS
• 2013-01-07 Listed $99,900 Global MLS
• 2008-09-10 Listing Removed — Global MLS
• 2008-03-24 Listed $134,900 Global MLS
• 2005-09-14 Sold (Public Records) $102,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,915 · -27.9% YoY. Source: county tax records.