Side-by-Side Duplex with
For Sale
$399,900
Pending
2015-2017 St Paul Drive, Ballston Spa, NY 12020
MULTI_FAMILY - Other - Ballston Spa, NY
Property Size2,420 SF
Lot Size0.94 Acres
Days on Market91
Property Features for 2015-2017 St Paul Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 4, Bedroom 5, Bathroom 3
Parking
2
Parking features
Garage
Interior features
Built-in Features
Fireplace
1
Lot features
Cleared
High school
Ballston Spa
Elementary school district
Ballston Spa
Middle school district
Ballston Spa
High school district
Ballston Spa
Directions
Take North Line Road from Route 50, turn right onto West Milton Road, then turn right onto Lewis Road. Follow Lewis Road and make a left onto St. Paul Drive.
Standard status
Pending
APN
188.-1-73
Size
2,420 SF
Lot size
0.94 Acres
Taxes and HOA fees
Tax Annual Amount
6500
Utilities
Sewer type
Septic Tank
Heating system
Ductless (Heating)
Cooling system
Ductless, Wall Unit(s)
Water source
Well
Building Details
Year built
1990
Number of units
2
Flooring type
Laminate
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Clancy Real Estate
(518) 861-7016
Listed By:
Stephanie Kilmartin · License #10401329921
(518) 588-4217
Added: Jun 11
Changed: Jul 30
Last Checked: Sep 9 at 7:06PM
MLS# 202619486
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 side-by-side duplex includes built-in features and an in-unit layout with multiple bedrooms and bathrooms, plus a dedicated laundry room. Heating is provided by ductless systems, with ductless cooling via wall unit(s). The home also includes fireplaces and laminate flooring. The roof is asphalt, and the property’s water service is from a well with wastewater handled by a septic tank. Parking is provided with a garage.
The property was built in 1990 and sits on a 0.94-acre lot. With 2,420 square feet of total property size, it offers two connected residential units in a single duplex configuration.
Interior rooming includes bedrooms and bathrooms numbered in the available materials, along with a laundry room, supporting a functional live/work setup for residents who want separate spaces within the same duplex structure.
The property was built in 1990 and sits on a 0.94-acre lot. With 2,420 square feet of total property size, it offers two connected residential units in a single duplex configuration.
Interior rooming includes bedrooms and bathrooms numbered in the available materials, along with a laundry room, supporting a functional live/work setup for residents who want separate spaces within the same duplex structure.
Key Highlights
- 0.94‑acre lot with 2,420 SF side‑by‑side duplex
- Ductless heating plus ductless wall unit cooling
- Fireplace 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
$35,914
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
8.98%
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%
$718,280
$718.3K
Cap Rate 7%
$513,057
$513.1K
Cap Rate 9%
$399,044
$399.0K
Market Conditions
NOI Build-Up for 2,420 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
$53.7K $22.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$51.3K $21.20/SF
− OpEx
−$15.4K −$6.36/SF
NOI
$35.9K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$718,280
Cap Rate 7%
$513,057
Cap Rate 9%
$399,044
Alternative Uses
Best Use
Multifamily LT 5
$513.1K
$448.9K – $598.6K
NOI $35,914 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$459.0K
$401.7K – $535.5K
NOI $32,132 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$724.3K
$633.8K – $845.1K
NOI $50,704 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex with two fireplace setups, ductless heating, wall AC, and attached garage parking.
Where is this duplex located?
The property is located at 2015-2017 St Paul Drive Ballston Spa, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 0.94‑acre lot with 2,420 SF side‑by‑side duplex; Ductless heating plus ductless wall unit cooling; Fireplace on‑site
