Renovated Two-Family
For Sale
$275,000
1540 8th Avenue, Watervliet, NY 12189
MultiFamily, Watervliet, NY
Property Size2,231 SF
Lot Size0.06 Acres
Price / SF$123.26
Days on Market111
Property Features for 1540 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2
Parking
4
Fencing
Chain Link
Basement
Partial, Apartment
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
From I-787, take Exit 7 toward Watervliet. Merge onto NY-32 (Broadway) and continue north. Turn left onto 8th Ave--property will be on your right.
Standard status
Active
APN
011800 32.66-4-4
Size
2,231 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2263
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Electric (Heating)
Water source
Public
Building Details
Year built
1970
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Abigail Curtiss · License #10401362361
(518) 653-1898
Added: May 11
Changed: Aug 20
Last Checked: Aug 29 at 2:06AM
MLS# 202617258
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 renovated two-family duplex at 1540 8th Avenue in Watervliet, NY, provides 2,231 square feet across an upper three-bedroom unit and a lower two-bedroom unit. Both residences are currently unoccupied, and the upper unit includes access to a private backyard. The property was built in 1970 and features vinyl siding, a shingle roof, and chain-link fencing.
The property occupies 0.06 acres and is served by public water and public sewer. Heating is provided by hot water and electric systems. Its two-unit configuration and existing renovation create a straightforward residential income property with separate living arrangements.
The property occupies 0.06 acres and is served by public water and public sewer. Heating is provided by hot water and electric systems. Its two-unit configuration and existing renovation create a straightforward residential income property with separate living arrangements.
Key Highlights
- Renovated two‑family duplex at 1540 8th Avenue, Watervliet, NY 12189
- 2,231 square feet on 0.06 acres
- Upper 3‑bedroom unit and lower 2‑bedroom unit
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
$23,830
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
8.67%
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%
$476,600
$476.6K
Cap Rate 7%
$340,429
$340.4K
Cap Rate 9%
$264,778
$264.8K
Market Conditions
NOI Build-Up for 2,231 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
$45.5K $20.40/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$43.3K $19.42/SF
− OpEx
−$19.5K −$8.74/SF
NOI
$23.8K $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%
$476,600
Cap Rate 7%
$340,429
Cap Rate 9%
$264,778
Alternative Uses
Best Use
Multifamily LT 5
$368.0K
$322.0K – $429.4K
NOI $25,761 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$340.4K
$297.9K – $397.2K
NOI $23,830 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$696.2K
$609.2K – $812.2K
NOI $48,732 @ 7.0% cap · market cap 17.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
452
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 - Two residences include three-bedroom and two-bedroom layouts, with both units currently unoccupied.
Where is this duplex located?
The property is located at 1540 8th Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Renovated two‑family duplex at 1540 8th Avenue, Watervliet, NY 12189; 2,231 square feet on 0.06 acres; Upper 3‑bedroom unit and lower 2‑bedroom unit
