Vacant Two-Unit
For Sale
Under Contract
$320,000
900 19th Street, Watervliet, NY 12189
Residential Income, Watervliet, NY
Property Size2,704 SF
Lot Size0.06 Acres
Price / SF$118.34
Days on Market96
Property Features for 900 19th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
Patio and Porch features
Deck, Porch
Lot features
Corner Lot
View
City
High school district
000000
Directions
Corner of 19th St and 9th Ave
Standard status
Active Under Contract
Size
2,704 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3536
Utilities
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Laminate, Hardwood, Tile, Carpet, Linoleum
Building materials
Vinyl Siding, Brick
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 348-2060
Listed By:
Dennis Durkin
(518) 348-2060
Added: May 21
Changed: Aug 21
Last Checked: Aug 24 at 7:06AM
MLS# 11780019
Copyright © 2026 My State MLS. 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 two-unit duplex contains 2,704 square feet and was built in 1920. Each residence offers three bedrooms, while the first-floor apartment adds a half bath and laundry room. The first-floor kitchen has been updated, and newer appliances are installed in both units. Interior finishes include hardwood, laminate, tile, carpet, and linoleum flooring. The structure combines vinyl siding and brick construction, with hot-water heating, an asphalt roof, public water, a porch, and a deck.
Set on a 0.06-acre corner lot at 900 19th Street in Watervliet, the property includes parking along the side street. Both apartments are currently vacant, allowing the next owner to occupy one unit or lease both residences.
Set on a 0.06-acre corner lot at 900 19th Street in Watervliet, the property includes parking along the side street. Both apartments are currently vacant, allowing the next owner to occupy one unit or lease both residences.
Key Highlights
- Two‑unit duplex with 2,704 square feet
- Two three‑bedroom residences
- First‑floor apartment includes an extra half bath and laundry room
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
$28,883
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
9.03%
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%
$577,660
$577.7K
Cap Rate 7%
$412,614
$412.6K
Cap Rate 9%
$320,922
$320.9K
Market Conditions
NOI Build-Up for 2,704 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
$55.2K $20.40/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$52.5K $19.42/SF
− OpEx
−$23.6K −$8.74/SF
NOI
$28.9K $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%
$577,660
Cap Rate 7%
$412,614
Cap Rate 9%
$320,922
Alternative Uses
Best Use
Multifamily LT 5
$446.0K
$390.3K – $520.4K
NOI $31,222 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$412.6K
$361.0K – $481.4K
NOI $28,883 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$843.8K
$738.3K – $984.4K
NOI $59,064 @ 7.0% cap · market cap 18.46%
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
405
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 - Both residences are vacant, with a refreshed first-floor kitchen and newer appliances in each unit.
Where is this duplex located?
The property is located at 900 19th Street Watervliet, NY.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,704 square feet; Two three‑bedroom residences; First‑floor apartment includes an extra half bath and laundry room
