Rehabbed Three-Unit
New
For Sale
$399,900
105 2nd Ave, Troy, NY 12180
Three residential units provide income-producing flexibility with river views and direct access to an active bus line.
Property Size2,020 SF
Price / SF$197.97
Days on Market4
Property Features for 105 2nd Ave
General Information
Standard status
Active
Size
2,020 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$399,000
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1890
Listing Agency:
Howard Hanna Capital Inc
(518) 669-1804
Listed By:
Michael Field · License #30WA0832219
(518) 669-1804
Source:
Fieldrealty
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 26 at 12:37PM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This three-unit residential property at 105 2nd Ave in Troy offers a 2,020-square-foot configuration suited to multifamily ownership. Originally built in 1890, the property was rehabbed a few years ago, reducing the need for immediate major renovation work. River views add a notable physical feature to the asset.
The property is within the City of Troy and sits directly along an active bus line. Its location provides access to shopping, dining, employment centers, and other city amenities. The three-unit layout supports multiple ownership approaches, including occupying one unit while renting the others or operating the entire property as a residential income asset.
The property is within the City of Troy and sits directly along an active bus line. Its location provides access to shopping, dining, employment centers, and other city amenities. The three-unit layout supports multiple ownership approaches, including occupying one unit while renting the others or operating the entire property as a residential income asset.
Key Highlights
- Three‑unit residential property in Troy, NY
- 2,020 square feet with three residential units
- Rehabbed a few years ago
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
$23,324
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
5.83%
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%
$466,480
$466.5K
Cap Rate 7%
$333,200
$333.2K
Cap Rate 9%
$259,156
$259.2K
Market Conditions
NOI Build-Up for 2,020 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
$35.1K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$33.3K $16.50/SF
− OpEx
−$10.0K −$4.95/SF
NOI
$23.3K $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%
$466,480
Cap Rate 7%
$333,200
Cap Rate 9%
$259,156
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$308.2K
$269.7K – $359.6K
NOI $21,577 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$630.3K
$551.5K – $735.4K
NOI $44,123 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
264
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide income-producing flexibility with river views and direct access to an active bus line.
Where is this triplex located?
The property is located at 105 2nd Ave Troy, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three‑unit residential property in Troy, NY; 2,020 square feet with three residential units; Rehabbed a few years ago
