163 Manor Ave · Cohoes, NY 12047

$350,000

3 bd · 3.0 ba · 1,728 sqft · MultiFamily public records · 9 Days on market

Built 1930 0.31 ac lot $203/sqft · 10% below area Est $387k · 10% under

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Why this score? — see what drove the D 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).

• ARV discount +11.8/15.0
• Cash flow +11.5/30.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• DSCR +3.4/10.0
• 1% rule +3.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

**Open Sunday 3/8 1-3pm** Unique 2-family home on the highly sought after Hill section of Cohoes, that is a must see! Owners unit with 2 bedrooms and 2 full baths, master bedroom has master bath with jetted tub. Gorgeous kitchen with stainless steel appliances, hardwood floors, crown molding and a beautiful enclosed front porch to enjoy! 2nd floor apartment has 1 BR, 1 Bath, kitchen and living room. Hang out and enjoy the gorgeous landscaped yard with patio, pergolas, gardens, 2 car detached garage and parking for plenty of vehicles! There is also a shed that would make a great man cave or she shed!! Let the tenant help pay your mortgage. Must see to really appreciate it. Very Good Condition

Key facts

• Pergola
• Landscaped lot
• Updated kitchen

Tags

• LANDSCAPED LOT
• PATIO
• PERGOLA
• UPDATED KITCHEN
• JETTED TUB
• ENCLOSED FRONT PORCH

Property features AI

Exterior

• Parking: Detached garage with 2 garage spaces; Off-street paved parking; Driveway parking; Total parking for up to 6 vehicles
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers; Cable available
• Home design: Single family residence; Corner lot
• Construction: Built with aluminum and vinyl siding; Foundation: block, combination, and stone; Asbestos shingle roof
• Exterior features: Front porch and additional porch; Patio; Paved driveway; Pergola; Shed(s); Detached garage(s); Drive-paved yard; Cleared, landscaped corner lot (approx. 90 x 150)

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Range; Microwave; Refrigerator; Electric and gas water heater(s)
• Bedrooms: Primary bedroom on the first floor; Bedroom on the second floor; Additional bedroom (apartment) on the second floor
• Flooring: Vinyl; Carpet; Ceramic tile; Hardwood
• Bathrooms: Three full bathrooms (two on the first floor, one on the second floor); Primary bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air; Wall unit(s) for cooling
• Interior features: High-speed internet available; Ceramic tile bath; Mirrored closet doors; Screens, blinds and curtain rods on windows; Double-pane windows; Full basement with sump pump
• Laundry & utility: Washer/dryer included; Washer hookup; Electric dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (17.5% below list).
• Recommended offer: $289k (17.5% 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-.
• 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,887/mo this rent would consume 52% 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $215k; list at $350k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $288,700 (17.5% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.82% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.42%
• DSCR: 0.94
• GRM: 10.1

CMA / ARV

• ARV (median comp): $387,360
• List price: $350,000
• Delta: -9.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Erie St	0.71mi	4/2.0 (+1)	1,740 (+1%)	3mo	$180,540	$104	54
1 Dartmouth St	0.51mi	4/2.0 (+1)	1,584 (-8%)	9mo	$285,000	$180	46
121 Harvard St	0.41mi	3/2.0	1,986 (+15%)	20mo	$330,000	$166	35
36 Erie St	0.68mi	4/2.0 (+1)	1,500 (-13%)	19mo	$147,000	$98	21

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: -13.7%
• Equity multiple: 0.49×
• Total profit: $-50,092
• Equity at exit: $52,186

10-year hold

• IRR: 1.2%
• Equity multiple: 1.10×
• Total profit: $10,088
• Equity at exit: $30,262

Cash invested: $98,000 (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: 19.2×

Monthly cashflow live

• Estimated rent: $2,887 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$415 /mo · $4,986/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $-116

Break-even live

Break-even rent $3,034

Max offer price $329,506

Occupancy floor 99%

Sensitivity live

Price	-10% $82	-5% $-17	+0% $-116	+5% $-215	+10% $-314
Rent	-10% $-344	-5% $-230	+0% $-116	+5% $-2	+10% $112
Rate	-1.0pp $60	-0.5pp $-27	base $-116	+0.5pp $-207	+1.0pp $-299

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,522
1× unit	1	1	$1,365
Total (2 units)			$2,887

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Cindy Way Cohoes, NY	3.0	1.5	1420	$2,300	$1.62	45d	1	0.51mi
100 N Mohawk St Cohoes, NY	1.0–3.0	1.0–3.0	1769	$3,840	$2.17	15d	18	0.84mi
1133 Loudon Rd Cohoes, NY	2.0	2.0	1300	$2,250	$1.73	15d	1	0.89mi
50 Mann Ave Unit 2 Cohoes, NY	2.0	1.0	1300	$1,800	$1.38	24d	1	1.02mi
45 Johnston Ave Cohoes, NY	2.0	2.0	1262	$2,300	$1.82	15d	3	1.03mi
29 Walnut St Unit / 2nd Floor Cohoes, NY	3.0	1.0	1200	$1,700	$1.42	45d	1	1.09mi
27 McElwain Ave Cohoes, NY	2.0	2.0	2000	$2,300	$1.15	45d	1	1.12mi
607 Boght Rd Cohoes, NY	3.0	1.0	1203	$2,195	$1.82	22d	1	1.18mi
300 Ontario St Cohoes, NY	3.0	1.0	1100	$1,600	$1.45	15d	1	1.32mi
43 Stacey Ct Cohoes, NY	2.0	2.0	1302	$2,400	$1.84	24d	1	1.32mi
121 Columbia Gdns Cohoes, NY	1.0–3.0	1.0–2.0	863	$2,294	$2.66	15d	7	1.37mi
124 Columbia St Fl 2 Cohoes, NY	2.0	1.0	1200	$1,400	$1.17	15d	1	1.37mi
12 White St Cohoes, NY	3.0	2.0	1790	$2,895	$1.62	20d	1	1.44mi
53 Main St Unit 3 Cohoes, NY	3.0	1.0	1200	$1,345	$1.12	24d	1	1.45mi

Listing history 11 events

1. 2026-05-13
   status Pending 437-char remark
2. 2026-05-04
   listed $350,000 Active 437-char remark
3. 2020-05-21
   soldstatus $215,000
4. 2020-05-04
   soldstatus $215,000 Closed (Final Sale) 701-char remark

   Show marketing remark (701 chars)

   **Open Sunday 3/8 1-3pm** Unique 2-family home on the highly sought after Hill section of Cohoes, that is a must see! Owners unit with 2 bedrooms and 2 full baths, master bedroom has master bath with jetted tub. Gorgeous kitchen with stainless steel appliances, hardwood floors, crown molding and a beautiful enclosed front porch to enjoy! 2nd floor apartment has 1 BR, 1 Bath, kitchen and living room. Hang out and enjoy the gorgeous landscaped yard with patio, pergolas, gardens, 2 car detached garage and parking for plenty of vehicles! There is also a shed that would make a great man cave or she shed!! Let the tenant help pay your mortgage. Must see to really appreciate it. Very Good Condition

5. 2020-03-10
   status Pend (Under Cntr) 701-char remark

   Show marketing remark (701 chars)

   **Open Sunday 3/8 1-3pm** Unique 2-family home on the highly sought after Hill section of Cohoes, that is a must see! Owners unit with 2 bedrooms and 2 full baths, master bedroom has master bath with jetted tub. Gorgeous kitchen with stainless steel appliances, hardwood floors, crown molding and a beautiful enclosed front porch to enjoy! 2nd floor apartment has 1 BR, 1 Bath, kitchen and living room. Hang out and enjoy the gorgeous landscaped yard with patio, pergolas, gardens, 2 car detached garage and parking for plenty of vehicles! There is also a shed that would make a great man cave or she shed!! Let the tenant help pay your mortgage. Must see to really appreciate it. Very Good Condition

6. 2020-02-25
   listed $239,900 New 701-char remark

   Show marketing remark (701 chars)

   **Open Sunday 3/8 1-3pm** Unique 2-family home on the highly sought after Hill section of Cohoes, that is a must see! Owners unit with 2 bedrooms and 2 full baths, master bedroom has master bath with jetted tub. Gorgeous kitchen with stainless steel appliances, hardwood floors, crown molding and a beautiful enclosed front porch to enjoy! 2nd floor apartment has 1 BR, 1 Bath, kitchen and living room. Hang out and enjoy the gorgeous landscaped yard with patio, pergolas, gardens, 2 car detached garage and parking for plenty of vehicles! There is also a shed that would make a great man cave or she shed!! Let the tenant help pay your mortgage. Must see to really appreciate it. Very Good Condition

7. 2017-09-28
   soldstatus $223,000
8. 2017-09-22
   soldstatus $223,000 Closed (Final Sale)

   Show marketing remark (360 chars)

   Unique 2-family home on Cohoes Hill that is a must see! Owners unit with 2 bedrooms and 2 full baths, gorgeous kitchen with stainless steel appliances, hardwood floors, and a beautiful enclosed front porch to enjoy! Gorgeous landscaped yard with patio, shed, gardens, 2 car detached garage and parking for plenty of vehicles! A must see! Excellent Condition

9. 2017-07-03
   status Pend (Under Cntr)

   Show marketing remark (360 chars)

   Unique 2-family home on Cohoes Hill that is a must see! Owners unit with 2 bedrooms and 2 full baths, gorgeous kitchen with stainless steel appliances, hardwood floors, and a beautiful enclosed front porch to enjoy! Gorgeous landscaped yard with patio, shed, gardens, 2 car detached garage and parking for plenty of vehicles! A must see! Excellent Condition

10. 2017-06-29
    listed $199,900 New

    Show marketing remark (360 chars)

    Unique 2-family home on Cohoes Hill that is a must see! Owners unit with 2 bedrooms and 2 full baths, gorgeous kitchen with stainless steel appliances, hardwood floors, and a beautiful enclosed front porch to enjoy! Gorgeous landscaped yard with patio, shed, gardens, 2 car detached garage and parking for plenty of vehicles! A must see! Excellent Condition

11. 2006-07-21
    soldstatus $148,400

ⓘ 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: $4,986 · $415/mo
• Projected year-2 tax: $5,450 · $454/mo
• Expected delta: +$465/yr (+$39/mo · 9.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 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: $34,644
• − Mortgage interest: −$19,605
• − Property taxes: −$4,986
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,772
• − Management: −$2,772
• − Depreciation: −$10,182
• Taxable loss: −$7,422
• Est. tax savings @ 24.0%: +$1,781
• After-tax cash flow: $389/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

+135.8% since first listed

11 events — show timeline

• 2026-05-13 Pending — Global MLS
• 2026-05-04 Listed $350,000 Global MLS
• 2020-05-21 Sold (Public Records) $215,000 Public Records
• 2020-05-04 Sold (MLS) $215,000 Global MLS
• 2020-03-10 Pending — Global MLS
• 2020-02-25 Listed $239,900 Global MLS
• 2017-09-28 Sold (Public Records) $223,000 Public Records
• 2017-09-22 Sold (MLS) $223,000 Global MLS
• 2017-07-03 Pending — Global MLS
• 2017-06-29 Listed $199,900 Global MLS
• 2006-07-21 Sold (Public Records) $148,400 Public Records

Property tax history

+6.0%/yr

Latest (2025): $4,986 · -27.9% YoY. Source: county tax records.