Four-Unit Residential
For Sale
$630,000
23-25 Prospect Avenue, Troy, NY 12180
MultiFamily, Troy, NY
Property Size4,173 SF
Lot Size0.19 Acres
Price / SF$150.97
Days on Market360
Property Features for 23-25 Prospect Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Parking
4
Basement
Unfinished
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Drive north up 15th street, turn onto Christie St and property will be on your left.
Standard status
Active
APN
381700 101.71-12-22
Size
4,173 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
6875
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1940
Number of units
4
Building materials
Wood Siding
Roof type
Rubber
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 464-0870
Listed By:
Karen Zalewski-Wildzunas · License #10301219752
(518) 858-4719
Added: Sep 24, 2025
Changed: Sep 12
Last Checked: Sep 18 at 10:06AM
MLS# 202526505
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 4,173-square-foot quadplex was built in 1940 on a 0.19-acre parcel and is currently fully occupied. The four-unit property has wood siding, a rubber roof, baseboard heating fueled by natural gas, and wall-unit cooling. Public water and public sewer serve the building, while the room configuration includes seven bedrooms and four bathrooms.
Located in Troy near RPI, the property offers an established residential income configuration with existing occupancy. A new roof and updated essential systems are among the documented improvements. The property may also be sold together with 319 Speigletown Rd and 1105 Hutton Street in Troy, NY.
Located in Troy near RPI, the property offers an established residential income configuration with existing occupancy. A new roof and updated essential systems are among the documented improvements. The property may also be sold together with 319 Speigletown Rd and 1105 Hutton Street in Troy, NY.
Key Highlights
- Four‑unit building with 4,173 square feet of property size
- Fully occupied residential income property
- Situated on a 0.19‑acre parcel in Troy, NY
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
$48,184
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
7.65%
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%
$963,680
$963.7K
Cap Rate 7%
$688,343
$688.3K
Cap Rate 9%
$535,378
$535.4K
Market Conditions
NOI Build-Up for 4,173 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
$72.6K $17.40/SF
− Vacancy
−$3.8K −$0.90/SF
EGI
$68.8K $16.50/SF
− OpEx
−$20.7K −$4.95/SF
NOI
$48.2K $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%
$963,680
Cap Rate 7%
$688,343
Cap Rate 9%
$535,378
Alternative Uses
Best Use
Multifamily LT 5
$688.3K
$602.3K – $803.1K
NOI $48,184 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$636.8K
$557.2K – $742.9K
NOI $44,574 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,151 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
824
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with public utilities, natural gas heat, and updated core building systems.
Where is this quadplex located?
The property is located at 23-25 Prospect Avenue Troy, NY.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Four‑unit building with 4,173 square feet of property size; Fully occupied residential income property; Situated on a 0.19‑acre parcel in Troy, NY
