Two-Family Residential Income
For Sale
$299,000
Pending
56 Cohoes Road, Watervliet, NY 12189
MULTI_FAMILY - Watervliet, NY
Property Size1,824 SF
Lot Size0.17 Acres
Days on Market43
Property Features for 56 Cohoes Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
Parking
5
Parking features
Driveway
Interior features
High Speed Internet, Walk-In Closet(s), Ceramic Tile Bath
Fencing
Fenced
Basement
Full, Unfinished
Lot features
Level
Elementary school
Latham Ridge ES
High school
Shaker HS
Elementary school district
North Colonie (including Maplewood)
Middle school district
North Colonie (including Maplewood)
High school district
North Colonie (including Maplewood)
Directions
787 to Tibbitt Ave, Exit Toward Maplewood Left on Cohoes Rd house is on the right
Standard status
Pending
APN
012689 20.20-1-19
Size
1,824 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
4425
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1876
Number of units
2
Flooring type
Tile, Laminate
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Sharon Fronk · License #10401239691
(518) 225-2878
Added: Jul 9
Changed: Jul 24
Last Checked: Aug 20 at 7:06PM
MLS# 202621357
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 well maintained two-family property offers two bright, move-in ready residences, each featuring three bedrooms. Both units include laundry hookups, a primary bedroom with a full bath, and walk-in closets. Interior updates include new laminate flooring on the first floor and fresh paint throughout, along with stainless steel appliances and recessed lighting. Additional improvements include newer hot water heaters, gutters, a paved driveway, and central air. The home is set up with separate utilities for each unit, supporting straightforward day-to-day operation.
The exterior includes separate parking areas, a fully fenced yard, and two storage sheds, along with an above-ground pool. The property is located in Watervliet, close to highways and public transportation, and is listed as being one block from Maplewood School.
For tenants or owner-occupants, the two-unit layout and unit-level laundry hookups can support flexible living or rental use. The combination of separate utilities, updated finishes, and outdoor storage and yard space provides practical everyday value for residential income management or multigenerational living.
The exterior includes separate parking areas, a fully fenced yard, and two storage sheds, along with an above-ground pool. The property is located in Watervliet, close to highways and public transportation, and is listed as being one block from Maplewood School.
For tenants or owner-occupants, the two-unit layout and unit-level laundry hookups can support flexible living or rental use. The combination of separate utilities, updated finishes, and outdoor storage and yard space provides practical everyday value for residential income management or multigenerational living.
Key Highlights
- Two‑family home built in 1876 with four total bedrooms across the units and multiple baths
- Central A/C with 2 Central AC units plus forced‑air natural gas heating
- Public water and public sewer; asphalt roof with vinyl siding
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
$21,061
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
7.04%
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%
$421,220
$421.2K
Cap Rate 7%
$300,871
$300.9K
Cap Rate 9%
$234,011
$234.0K
Market Conditions
NOI Build-Up for 1,824 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
$31.7K $17.40/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$30.1K $16.50/SF
− OpEx
−$9.0K −$4.95/SF
NOI
$21.1K $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%
$421,220
Cap Rate 7%
$300,871
Cap Rate 9%
$234,011
Alternative Uses
Best Use
Multifamily LT 5
$300.9K
$263.3K – $351.0K
NOI $21,061 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$278.3K
$243.5K – $324.7K
NOI $19,483 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$569.2K
$498.0K – $664.0K
NOI $39,842 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
221
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 - Well-maintained two-family home with two 3-bedroom units, separate utilities, and updated interiors.
Where is this duplex located?
The property is located at 56 Cohoes Road Watervliet, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑family home built in 1876 with four total bedrooms across the units and multiple baths; Central A/C with 2 Central AC units plus forced‑air natural gas heating; Public water and public sewer; asphalt roof with vinyl siding
