Renovated 4-Unit
For Sale
$1,295,000
Pending
1 Oak St, Saratoga Springs, NY 12866
Updated kitchens, baths, appliances, HVAC, electrical, plumbing, flooring, and roof support low-maintenance operations.
Property Size4,572 SF
Days on Market145
Property Features for 1 Oak St
General Information
Standard status
Pending
Size
4,572 SF
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$77,153
Financials
Asking Price
$1,295,000
Cap Rate
6%
Gross Income
$107,575
Units
Unit Mix
2 x 2BR/2BA, 2 x 3BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,627
Amenities
in-unit laundry
Building Details
Year Renovated
2021
Buildings
1
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Brian Green · License #10301223399
(518) 810-2895
Source:
Exprealty
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 31 at 6:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 4,572 square feet and was fully renovated in 2021. The unit mix includes one furnished 2/2, two 3/1 apartments, and one additional 2/2. Improvements include modern kitchens, refreshed bathrooms, new appliances, HVAC, electrical and plumbing systems, updated flooring, and a new roof. In-unit laundry and double-porch architecture add practical utility and residential character. The property is reported at 100% occupancy and a 6.0% cap rate.
Located in Saratoga Springs’ Arts District, the building is near Broadway dining and shops, SPAC, and the Saratoga Race Track. The surrounding market is described as benefiting from tourism, healthcare, education, and technology employment, with sub-4% vacancy and annual rent growth of 3-5%.
Located in Saratoga Springs’ Arts District, the building is near Broadway dining and shops, SPAC, and the Saratoga Race Track. The surrounding market is described as benefiting from tourism, healthcare, education, and technology employment, with sub-4% vacancy and annual rent growth of 3-5%.
Key Highlights
- 4,572‑square‑foot four‑unit multifamily building
- Fully renovated in 2021 with a new roof
- Unit mix: one furnished 2/2, two 3/1s, and one additional 2/2
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
$67,852
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
5.24%
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%
$1,357,040
$1.4M
Cap Rate 7%
$969,314
$969.3K
Cap Rate 9%
$753,911
$753.9K
Market Conditions
NOI Build-Up for 4,572 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
$101.5K $22.20/SF
− Vacancy
−$4.6K −$1.00/SF
EGI
$96.9K $21.20/SF
− OpEx
−$29.1K −$6.36/SF
NOI
$67.9K $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%
$1,357,040
Cap Rate 7%
$969,314
Cap Rate 9%
$753,911
Alternative Uses
Best Use
Multifamily LT 5
$969.3K
$848.2K – $1.13M
NOI $67,852 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$867.2K
$758.8K – $1.01M
NOI $60,706 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,793 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
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?
Quadplex - Updated kitchens, baths, appliances, HVAC, electrical, plumbing, flooring, and roof support low-maintenance operations.
Where is this quadplex located?
The property is located at 1 Oak St Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 4,572‑square‑foot four‑unit multifamily building; Fully renovated in 2021 with a new roof; Unit mix: one furnished 2/2, two 3/1s, and one additional 2/2
