Historic Three-Unit Row
For Sale
$425,000
Pending
107 Washington Street, Troy, NY 12180
MULTI_FAMILY - Other - Troy, NY
Property Size3,064 SF
Lot Size0.04 Acres
Days on Market63
Property Features for 107 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 6, Bedroom 2
Patio and Porch features
Deck
Exterior features
Garden
Fireplace
1
Basement
Interior Entry, Unfinished, Full
View
City
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Attached row home, on the end of 111/109/107 Washington
Standard status
Pending
APN
381700 100.76-10-1.13
Size
3,064 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
8409
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Rolled Hot Mop
Architectural style
Other
Listing Agency:
Field Realty
(518) 495-1877
Listed By:
Johanna Clarke · License #10401291706
(518) 859-4947
Added: Jun 15
Changed: Jul 24
Last Checked: Aug 16 at 6:06AM
MLS# 202619700
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 historic brick row home is configured as three units, and the property is currently being operated as a two-unit setup with an adjoined arrangement on the 2nd and 3rd floors. Interiors feature hardwood floors and original character details, and updates are reflected in the kitchens and baths. The home has separate utilities for each unit, and each unit includes a private deck. Maintenance and system readiness are supported by the presence of two new boilers. The property will be delivered vacant at closing, giving an owner-occupant or investor flexibility to enjoy the current two-unit configuration or convert back to a traditional three-unit layout.
Located at 107 Washington Street in Troy, New York, the home sits in the heart of historic Downtown Troy and is described as just steps from Washington Park. The surrounding area provides walkable access to dining, shopping, a farmers market, arts activity, neighborhood parks, and other downtown attractions.
For tenants, the separate utilities and private deck space support independent day-to-day living. For buyers, the vacant delivery and documented boiler updates can simplify near-term move-in planning, while the layout choice between a two-unit adjoined configuration and a traditional three-unit arrangement allows the space to fit different occupancy strategies.
Located at 107 Washington Street in Troy, New York, the home sits in the heart of historic Downtown Troy and is described as just steps from Washington Park. The surrounding area provides walkable access to dining, shopping, a farmers market, arts activity, neighborhood parks, and other downtown attractions.
For tenants, the separate utilities and private deck space support independent day-to-day living. For buyers, the vacant delivery and documented boiler updates can simplify near-term move-in planning, while the layout choice between a two-unit adjoined configuration and a traditional three-unit arrangement allows the space to fit different occupancy strategies.
Key Highlights
- Three‑unit brick row home in historic Downtown Troy, steps from Washington Park
- Each apartment has hardwood flooring, original details, and separate utilities
- Private deck for each unit and a deck included at the property
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
$35,379
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
8.32%
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%
$707,580
$707.6K
Cap Rate 7%
$505,414
$505.4K
Cap Rate 9%
$393,100
$393.1K
Market Conditions
NOI Build-Up for 3,064 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
$53.3K $17.40/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$50.5K $16.50/SF
− OpEx
−$15.2K −$4.95/SF
NOI
$35.4K $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%
$707,580
Cap Rate 7%
$505,414
Cap Rate 9%
$393,100
Alternative Uses
Best Use
Multifamily LT 5
$505.4K
$442.2K – $589.7K
NOI $35,379 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$467.5K
$409.1K – $545.5K
NOI $32,728 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$956.1K
$836.6K – $1.12M
NOI $66,927 @ 7.0% cap · market cap 15.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,713
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-unit brick row home with separate utilities and private deck space, offered vacant and ready for occupancy at closing.
Where is this triplex located?
The property is located at 107 Washington Street Troy, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit brick row home in historic Downtown Troy, steps from Washington Park; Each apartment has hardwood flooring, original details, and separate utilities; Private deck for each unit and a deck included at the property
