Watervliet Multifamily Property For
For Sale
$299,950
Pending
1153 7th Avenue, Watervliet, NY 12189
MULTI_FAMILY - Other - Watervliet, NY
Property Size2,163 SF
Lot Size0.21 Acres
Days on Market115
Property Features for 1153 7th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
Parking
2
Parking features
Garage
Exterior features
Garden
Basement
Full
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
Watervliet - Shaker Rd (NY Rt 155) to left on 7th Ave, house on right corner of 7th Ave and 12th St.
Standard status
Pending
APN
011800 32.81-2-31
Size
2,163 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
6698
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1850
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Peter A Gray · License #10301201491
(518) 265-5871
Added: Apr 28
Changed: Aug 4
Last Checked: Aug 20 at 12:06PM
MLS# 202616022
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.
Located in Watervliet, New York, this multifamily property is situated on a corner lot. The property includes a two-car garage. The building has 2,163 square feet of space and sits on a 0.21-acre lot. The property's current monthly income is $2,600.
Key Highlights
- Corner lot home with a garden exterior feature
- Brick construction with Hot Water (Heating)
- 2‑car garage with parking on‑site
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
$24,975
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
8.33%
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%
$499,500
$499.5K
Cap Rate 7%
$356,786
$356.8K
Cap Rate 9%
$277,500
$277.5K
Market Conditions
NOI Build-Up for 2,163 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
$37.6K $17.40/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$35.7K $16.50/SF
− OpEx
−$10.7K −$4.95/SF
NOI
$25.0K $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%
$499,500
Cap Rate 7%
$356,786
Cap Rate 9%
$277,500
Alternative Uses
Best Use
Multifamily LT 5
$356.8K
$312.2K – $416.3K
NOI $24,975 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$330.1K
$288.8K – $385.1K
NOI $23,104 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$675.0K
$590.6K – $787.5K
NOI $47,247 @ 7.0% cap · market cap 15.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multifamily property on a corner lot with two-car garage.
Where is this duplex located?
The property is located at 1153 7th Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $299,950.
What are key features of this property?
This property features: Corner lot home with a garden exterior feature; Brick construction with Hot Water (Heating); 2‑car garage with parking on‑site
