Duplex with Private
New
For Sale
$265,000
1015 Washington Avenue, Rensselaer, NY 12144
Two apartments feature separate laundry arrangements and lockable basement storage for each unit.
Property Size1,530 SF
Price / SF$173.20
Days on Market7
Property Features for 1015 Washington Avenue
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
covered front porch
backyard
off-street parking
laundry
basement storage
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Verity Realty LLC
Listed By:
Jamie Brayton
(518) 763-4108
Source:
Signatureonerealtygroup
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 10:29AM
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 Verity Realty LLC
Investment Insights
Based on property information with market context.
This 1,530-square-foot duplex, built in 1920, contains two apartments. The first-floor unit has a dedicated laundry room, while the second-floor apartment has dedicated laundry in the basement. Both units have private, lockable basement storage. Refinished hardwood floors retain original character, and the property also includes a covered front porch, backyard, and off-street parking.
Set back from Washington Avenue along a private drive, the property is near Hampton Manor. The basement includes two rooms used for tenant storage, additional unfinished space, supplemental heat with multiple thermostats and zones, and a dedicated house meter.
Set back from Washington Avenue along a private drive, the property is near Hampton Manor. The basement includes two rooms used for tenant storage, additional unfinished space, supplemental heat with multiple thermostats and zones, and a dedicated house meter.
Key Highlights
- Two apartments in a 1,530‑square‑foot duplex
- Built in 1920; extensively renovated and restored since 2019
- Dedicated laundry arrangements for both units
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
$20,039
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
7.56%
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%
$400,780
$400.8K
Cap Rate 7%
$286,271
$286.3K
Cap Rate 9%
$222,656
$222.7K
Market Conditions
NOI Build-Up for 1,530 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
$30.3K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$28.6K $18.71/SF
− OpEx
−$8.6K −$5.61/SF
NOI
$20.0K $13.10/SF
Area
Rensselaer County, NY
Vacancy
5.50%
Lease Rate
$19.80 /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%
$400,780
Cap Rate 7%
$286,271
Cap Rate 9%
$222,656
Alternative Uses
Best Use
Multifamily LT 5
$286.3K
$250.5K – $334.0K
NOI $20,039 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,571 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$382.5K
$334.7K – $446.2K
NOI $26,773 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 12144, NY
21,277
Population
10,474
Households
2
Avg Household Size
40
Median Age
38%
College-Educated
93%
High-School Grad
18.3 sq mi
ZIP Area
1,163
Density / Sq Mi
$88,357
Median Household Income
$51,893
Median Earnings
$1,379
Median Rent
$235,300
Median Home Value
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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 - Two apartments feature separate laundry arrangements and lockable basement storage for each unit.
Where is this duplex located?
The property is located at 1015 Washington Avenue Rensselaer, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two apartments in a 1,530‑square‑foot duplex; Built in 1920; extensively renovated and restored since 2019; Dedicated laundry arrangements for both units
