4-Unit Brick
For Sale
$475,900
Pending
164 Main Street, Cohoes, NY 12047
MultiFamily, Cohoes, NY
Property Size3,480 SF
Lot Size0.10 Acres
Days on Market94
Property Features for 164 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi Residence
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 9, Bedroom 10, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 8
Patio and Porch features
Porch
Interior features
Built-in Features, Ceramic Tile Bath
Fencing
Fenced
Basement
Full, Interior Entry, Apartment, Finished, Walk-Out Access
Lot features
Level, Road Frontage
View
City
Elementary school district
Cohoes
Middle school district
Cohoes
High school district
Cohoes
Directions
787 South to Mohawk St, to right on Columbia, left onto Main St.
Standard status
Pending
APN
010300 10.83-2-5
Size
3,480 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
5736
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1958
Number of units
4
Flooring type
Vinyl, Tile, Tile - Ceramic, Laminate
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Carr Real Estate Group LLC
(518) 488-2434
Listed By:
Richard Carr · License #10491207486
(518) 488-2434
Added: May 29
Changed: Aug 27
Last Checked: Aug 30 at 11:06PM
MLS# 202618422
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,480-square-foot all-brick quadplex contains four apartments and 10 total bedrooms. The unit mix includes one basement apartment with one bedroom and three additional apartments, each configured with three bedrooms. Interior finishes include vinyl, ceramic tile, laminate, and tile flooring, along with ceramic tile baths and built-in features. The property also includes a porch, fencing, a rubber roof, and public water and sewer service.
Capital improvements include a new front exterior treatment with aluminum wrap and new vinyl siding on the rear exterior. Separate utility service is provided through four natural gas meters and four electric meters, with tenants responsible for their own heat and electricity. The first-floor apartment is vacant for access and future occupancy planning. Built in 1958, the property is zoned Multi Residence and occupies a 0.1-acre lot in Cohoes, NY.
Capital improvements include a new front exterior treatment with aluminum wrap and new vinyl siding on the rear exterior. Separate utility service is provided through four natural gas meters and four electric meters, with tenants responsible for their own heat and electricity. The first-floor apartment is vacant for access and future occupancy planning. Built in 1958, the property is zoned Multi Residence and occupies a 0.1-acre lot in Cohoes, NY.
Key Highlights
- Four‑unit quadplex with 10 total bedrooms
- 3,480 square feet on a 0.1‑acre lot
- Unit mix includes one 1‑bedroom basement apartment and three 3‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,182
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$803,640
$803.6K
Cap Rate 7%
$574,029
$574.0K
Cap Rate 9%
$446,467
$446.5K
Market Conditions
NOI Build-Up for 3,480 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.6K $17.40/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$57.4K $16.50/SF
− OpEx
−$17.2K −$4.95/SF
NOI
$40.2K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$803,640
Cap Rate 7%
$574,029
Cap Rate 9%
$446,467
Alternative Uses
Best Use
Multifamily LT 5
$574.0K
$502.3K – $669.7K
NOI $40,182 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,171 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.09M
$950.2K – $1.27M
NOI $76,014 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - All-brick multifamily property with separate tenant-paid utilities and a vacant first-floor apartment.
Where is this quadplex located?
The property is located at 164 Main Street Cohoes, NY.
What is the asking price?
The asking price for this property is $475,900.
What are key features of this property?
This property features: Four‑unit quadplex with 10 total bedrooms; 3,480 square feet on a 0.1‑acre lot; Unit mix includes one 1‑bedroom basement apartment and three 3‑bedroom apartments
