If Washington Irving's A History of New York is a parody, can we assume his history contains facts?

Understanding that a parody is, by definition, a humorous exaggeration or an imitation (with similarities to farce or satire), a work like Washington Irving's A History of New York is likely to contain very few actual facts.
Following the excursions and observances of the fictional Diedrich Knickerbocker, A History of New York takes aim at the Dutch-American settlers in New York during the early 1800s. Through the voice of Knickerbocker, Irving manipulates, exaggerates, or completely disregards any true facts in favor of a satirical parody. Real-life figures such as Thomas Jefferson are parodied (Jefferson becomes satirized as William the Testy), and the general mannerisms and behavior of the Dutch settlers are not taken seriously to any degree. Certainly, among other things, A History of New York offers some factual basis on how things were, but as the facts become filtered through the parody, they become wholly unreliable and unrecognizable.