Two-Family Home with
For Sale
$290,000
18 Summit Avenue, Troy, NY 12180
MULTI_FAMILY - Other - Troy, NY
Property Size2,326 SF
Lot Size0.14 Acres
Price / SF$124.68
Days on Market52
Property Features for 18 Summit Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Laundry Room
Parking
4
Parking features
Off Street, Driveway, Garage
Security features
Security System
Patio and Porch features
Porch
Interior features
Crown Molding
Basement
Full
Lot features
Level, Landscaped
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Take NY 7E toward Cohoes. Turn left onto NY-40/ 10th St. Turn left onto Summit Ave. Just off of Oakwood Ave, Across from Frear Park/ Golf.
Standard status
Active
APN
381700 90.72-2-4
Size
2,326 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
7928
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Radiant
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Hardwood, Tile - Ceramic, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Joyce Brown · License #40BR1150323
(518) 596-5835
Added: Jul 9
Changed: Jul 24
Last Checked: Aug 29 at 3:06AM
MLS# 202621343
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 move-in ready two-family home is legally zoned as a two-family residence, while it is currently being enjoyed as a spacious single-family setup. The interior features hardwood floors, custom built-ins, and an updated first-floor kitchen with stainless steel appliances described as having Bluetooth capability. Formal dining rooms are located on both the first and second floors, each with an exposed brick chimney. A laundry room includes two closets and can be used as an office, with the option to convert back to a bedroom. The first floor is described as handicap accessible, supporting flexible living arrangements.
The property sits on a quiet dead-end street and includes a fully vinyl-fenced side and backyard. Outside improvements also include a spacious detached two-car garage, providing both parking and storage. The home is located in Troy, New York, in the Frear Park neighborhood, within Rensselaer County.
With its legal two-family zoning and current single-family configuration, the home may fit buyers seeking an owner-occupant setup with the option to convert back to rental use, as well as those looking for a multi-generational or flexible living arrangement. The enclosed yard and detached garage add practical day-to-day utility for tenants or an owner household.
The property sits on a quiet dead-end street and includes a fully vinyl-fenced side and backyard. Outside improvements also include a spacious detached two-car garage, providing both parking and storage. The home is located in Troy, New York, in the Frear Park neighborhood, within Rensselaer County.
With its legal two-family zoning and current single-family configuration, the home may fit buyers seeking an owner-occupant setup with the option to convert back to rental use, as well as those looking for a multi-generational or flexible living arrangement. The enclosed yard and detached garage add practical day-to-day utility for tenants or an owner household.
Key Highlights
- Legally zoned as a two‑family home with flexibility to use as a single‑family residence or convert back for rental or multi‑generational use
- Hardwood floors plus tile flooring, with crown molding throughout
- Updated first‑floor kitchen with stainless steel appliances featuring Bluetooth capability
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
$24,845
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
8.57%
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%
$496,900
$496.9K
Cap Rate 7%
$354,929
$354.9K
Cap Rate 9%
$276,056
$276.1K
Market Conditions
NOI Build-Up for 2,326 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
$47.5K $20.40/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$45.2K $19.42/SF
− OpEx
−$20.3K −$8.74/SF
NOI
$24.8K $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%
$496,900
Cap Rate 7%
$354,929
Cap Rate 9%
$276,056
Alternative Uses
Best Use
Multifamily LT 5
$383.7K
$335.7K – $447.6K
NOI $26,857 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$354.9K
$310.6K – $414.1K
NOI $24,845 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$725.8K
$635.1K – $846.8K
NOI $50,807 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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 - Move-in ready two-family home with handicap accessibility and a detached two-car garage in Troy.
Where is this duplex located?
The property is located at 18 Summit Avenue Troy, NY.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Legally zoned as a two‑family home with flexibility to use as a single‑family residence or convert back for rental or multi‑generational use; Hardwood floors plus tile flooring, with crown molding throughout; Updated first‑floor kitchen with stainless steel appliances featuring Bluetooth capability
