Renovated Triplex With Detached
For Sale
$490,000
1427 4th Avenue, Watervliet, NY 12189
MULTI_FAMILY - Watervliet, NY
Property Size4,204 SF
Lot Size0.13 Acres
Price / SF$116.56
Days on Market96
Property Features for 1427 4th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
11
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 8, Bathroom 2, Bedroom 7, Bedroom 11, Bedroom 6, Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 10, Bedroom 9, Bedroom 1
Patio and Porch features
Deck
Interior features
Solid Surface Counters, Ceramic Tile Bath
Fencing
Chain Link
Basement
Interior Entry, Sump Pump
Lot features
Road Frontage, Corner Lot
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
Take I-787 to Exit 8 toward 23rd St/Watervliet. Turn left onto Broadway, then turn right onto 16th Street. Turn left onto 4th Avenue and continue to 1427 4th Ave, Watervliet, NY 12189. The property is located near the corner of 4th Ave and 15th St.
Standard status
Active
APN
011800 32.74-4-1
Size
4,204 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7237
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1962
Number of units
3
Flooring type
Tile - Ceramic, Marble, Vinyl
Building materials
Drywall, Vinyl Siding
Roof type
Asphalt, Shingle
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Nathaniel Torres · License #10401401108
(518) 303-5700
Added: May 13
Changed: Aug 3
Last Checked: Aug 16 at 8:06AM
MLS# 202617070
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 4,204-square-foot triplex occupies a 0.13-acre lot and was rebuilt from the studs up. The property includes modern interior finishes, updated electrical, ceramic tile and marble flooring, solid surface counters, and bathrooms finished with Italian marble. Washer hookups are provided in each unit, and appliances are included with the sale. A detached residential unit on the lot adds another component to the property’s configuration.
Outdoor space includes a deck, while the site also features chain-link fencing, an asphalt shingle roof, public water, and public sewer. Heating is provided by natural gas forced air, and cable service is available. Built in 1962, the property is located near the public pool and downtown Watervliet, with Latham shopping and dining and major routes described as minutes away.
Outdoor space includes a deck, while the site also features chain-link fencing, an asphalt shingle roof, public water, and public sewer. Heating is provided by natural gas forced air, and cable service is available. Built in 1962, the property is located near the public pool and downtown Watervliet, with Latham shopping and dining and major routes described as minutes away.
Key Highlights
- 4,204‑square‑foot triplex on a 0.13‑acre lot
- Rebuilt from the studs up with updated electrical
- Detached residential unit included on the lot
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
$44,905
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
9.16%
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%
$898,100
$898.1K
Cap Rate 7%
$641,500
$641.5K
Cap Rate 9%
$498,944
$498.9K
Market Conditions
NOI Build-Up for 4,204 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
$85.8K $20.40/SF
− Vacancy
−$4.1K −$0.98/SF
EGI
$81.6K $19.42/SF
− OpEx
−$36.7K −$8.74/SF
NOI
$44.9K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$898,100
Cap Rate 7%
$641,500
Cap Rate 9%
$498,944
Alternative Uses
Best Use
Multifamily LT 5
$693.5K
$606.8K – $809.0K
NOI $48,542 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$641.5K
$561.3K – $748.4K
NOI $44,905 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,828 @ 7.0% cap · market cap 18.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
742
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?
Triplex - Fully rebuilt interiors include updated electrical, washer hookups, appliances, and a private outdoor deck.
Where is this triplex located?
The property is located at 1427 4th Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 4,204‑square‑foot triplex on a 0.13‑acre lot; Rebuilt from the studs up with updated electrical; Detached residential unit included on the lot
