6 Cohoes Rd · Green Island, NY 12189

$195,000

5 bd · 2.0 ba · 1,825 sqft · MultiFamily public records · 49 Days on market

Built 1920 3,920 sqft lot Est $224k · 13% under

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Why this score? — see what drove the A- 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 +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.4/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• 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: 2 units. confirmed

Listing remarks

North Colonie Schools 2 family for under $200k. This is a two family with one apartment on the first floor and one on the 2nd floor. Each apartment has a LR, Kitchen, full bath and 2 bedrooms. Easily accessible to the entire capital region. This is one of 4 properties the sellers own at the corner of Cohoes Road and Alden St. . There is a great discount for the buyer who buys the whole bundle.

Key facts

• Two family
• 3,920 sq ft lot
• 2 garage spots

Tags

• TWO FAMILY
• FIRST FLOOR APARTMENT
• SECOND FLOOR APARTMENT
• ACCESSIBLE TO CAPITAL REGION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $514/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#186 in NY, #2,758 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D.
• North Colonie CSD (suburban): math 70% / reading 76% proficiency, ranked #102 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Shaker Middle School (math 54% / reading 72%, grade B+, #129 of 729 statewide, top 18%, 1,423 students, 26% FRL); Shaker High School (math 98% / reading 93%, grade A+, #76 of 1,100 statewide, top 7%, 2,018 students, 25% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 73 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,068/mo this rent would consume 56% of the median local household income ($65k/yr) (locally 1224% 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 + 6.6% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1920 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.57% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.58%
• DSCR: 2.00
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $224,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Archibald St	0.15mi	6/2.0 (+1)	1,963 (+8%)	6mo	$275,000	$140	70
2325 6th Ave	0.48mi	5/2.0	1,872 (+3%)	5mo	$230,000	$123	69
2425 Broadway	0.38mi	6/2.0 (+1)	1,800 (-1%)	18mo	$262,000	$146	60
33 James St	0.50mi	5/2.0	1,852 (+2%)	21mo	$82,500	$45	57
603 24th St	0.44mi	6/2.0 (+1)	1,880 (+3%)	17mo	$201,000	$107	56
25 James St	0.47mi	6/2.0 (+1)	1,800 (-1%)	22mo	$190,000	$106	52
2105 4th Ave	0.61mi	5/2.0	1,892 (+4%)	17mo	$240,000	$127	51
172 Paine St	0.63mi	4/2.0 (-1)	1,640 (-10%)	4mo	$145,000	$88	45
137 Paine St	0.53mi	5/2.0	2,090 (+14%)	11mo	$170,000	$81	42
818 24th St	0.54mi	4/2.0 (-1)	2,066 (+13%)	8mo	$274,000	$133	41
99 James St	0.70mi	4/2.0 (-1)	2,058 (+13%)	6mo	$210,000	$102	36
2327 12th Ave	0.71mi	4/2.0 (-1)	2,068 (+13%)	5mo	$290,000	$140	36

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 · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.83×
• Total profit: $45,469
• Equity at exit: $29,075

10-year hold

• IRR: 30.3%
• Equity multiple: 4.21×
• Total profit: $175,215
• Equity at exit: $16,860

Cash invested: $54,600 (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 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 73
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,068 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$292 /mo · $3,508/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $1,028

Break-even live

Break-even rent $1,767

Max offer price $195,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,138	-5% $1,083	+0% $1,028	+5% $972	+10% $917
Rent	-10% $785	-5% $906	+0% $1,028	+5% $1,149	+10% $1,270
Rate	-1.0pp $1,126	-0.5pp $1,077	base $1,028	+0.5pp $977	+1.0pp $926

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,068
Total (2 units)			$3,068

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 State St Troy, NY	4.0	1.0–1.5	1810	$3,635	$2.01	16d	7	0.81mi
164 9th St Unit 1 Troy, NY	4.0	2.0	1400	$1,800	$1.29	25d	1	1.03mi
136 9th St Unit 3 Troy, NY	4.0	1.0	1500	$595	$0.40	20d	1	1.03mi
904 Peoples Ave Troy, NY	4.0	1.0	1800	$645	$0.36	20d	1	1.06mi
150 2nd St Troy, NY	4.0	1.5	2442	$3,000	$1.23	22d	1	1.06mi
1520 6th Ave Troy, NY	2.0–4.0	2.0–4.0	1209	$1,349	$1.12	25d	8	1.11mi
2326 15th St Unit 1 Troy, NY	4.0	1.5	1500	$695	$0.46	20d	1	1.33mi
97 14th St Unit 2 Troy, NY	5.0	2.0	1600	$625	$0.39	20d	1	1.43mi
97 14th St Troy, NY	4.0	2.0	1500	$650	$0.43	20d	1	1.43mi
53 13th St Troy, NY	4.0	1.0	1500	$650	$0.43	20d	1	1.43mi
79 14th St Unit 2 Troy, NY	4.0	1.0	1500	$650	$0.43	20d	1	1.46mi
88 14th St Unit 2 Troy, NY	4.0	1.0	1500	$650	$0.43	20d	1	1.46mi
51 14th St Unit 2 Troy, NY	4.0	2.0	2000	$725	$0.36	20d	1	1.49mi

Listing history 2 events

1. 2025-08-27
   status Pending
2. 2025-07-06
   listed $195,000 Active

ⓘ 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: $3,508 · $292/mo
• Projected year-2 tax: $3,508 · $292/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $36,816
• − Mortgage interest: −$10,923
• − Property taxes: −$3,508
• − Insurance: −$975
• − Repairs & maintenance: −$2,945
• − Management: −$2,945
• − Depreciation: −$5,673
• Taxable income: $9,847
• Est. tax owed @ 24.0%: −$2,363
• After-tax cash flow: $9,967/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: North Colonie CSD
• NCES district ID: 3621000
• Math proficiency: 70% ▼ -5.00%
• Reading proficiency: 76% ▲ 8.00%
• Median HH income: $74,762
• Composite: 64.2/100
• National rank: #565
• State rank: #102 of 590 in NY

Livability — Green Island

• Score: 77/100
• State rank: #186
• US rank: #2758

Category grades

Amenities C+ Commute A+ Cost of living A- Crime A- Employment D Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Albany County · 196,626 people
• City population: 2,966
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

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 (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 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: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• 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

2 events — show timeline

• 2025-08-27 Pending — Global MLS
• 2025-07-06 Listed $195,000 Global MLS

Property tax history

+0.7%/yr

Latest (2025): $3,508 · -9.2% YoY. Source: county tax records.