River-View Duplex with Apartment
For Sale
$225,000
Pending
11 Second St, Coeymans, NY
Two-level property with separate utilities, a garage, and zoning approval for a bagel shop.
Property Size1,920 SF
Days on Market160
Property Features for 11 Second St
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,223
Amenities
apartment decks
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Properties
(518) 439-9600
Listed By:
Kathleen R Palmer · License #10401340095
(518) 253-0403
Source:
Exprealty
Added: Mar 27
Changed: Aug 31
Last Checked: Sep 1 at 11:39PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex includes two apartment decks with river views and a ground-floor garage. The garage has zoning approval for a bagel shop, adding an approved commercial use to the property. Separate utilities serve the building.
The top-floor apartment has a long-term tenant, while the second-floor unit was recently refreshed with new carpet, new paint, and new exterior decking. A replacement front door is also in place. Both tenants would like to remain.
Public parking is directly across the street. The property is at 11 Second St in Coeymans, NY, within walking distance of Yanni's and summer concerts in the park.
The top-floor apartment has a long-term tenant, while the second-floor unit was recently refreshed with new carpet, new paint, and new exterior decking. A replacement front door is also in place. Both tenants would like to remain.
Public parking is directly across the street. The property is at 11 Second St in Coeymans, NY, within walking distance of Yanni's and summer concerts in the park.
Key Highlights
- 1,920 SF duplex with two apartment decks offering river views
- Ground‑floor garage with zoning approval for a bagel shop
- Second‑floor updates include new carpet, new paint, and new exterior decking
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
$20,508
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
9.11%
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%
$410,160
$410.2K
Cap Rate 7%
$292,971
$293.0K
Cap Rate 9%
$227,867
$227.9K
Market Conditions
NOI Build-Up for 1,920 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
$39.2K $20.40/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$37.3K $19.42/SF
− OpEx
−$16.8K −$8.74/SF
NOI
$20.5K $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%
$410,160
Cap Rate 7%
$292,971
Cap Rate 9%
$227,867
Alternative Uses
Best Use
Multifamily LT 5
$316.7K
$277.1K – $369.5K
NOI $22,170 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$293.0K
$256.4K – $341.8K
NOI $20,508 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$599.1K
$524.2K – $699.0K
NOI $41,939 @ 7.0% cap · market cap 18.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
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 - Two-level property with separate utilities, a garage, and zoning approval for a bagel shop.
Where is this duplex located?
The property is located at 11 Second St Coeymans, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,920 SF duplex with two apartment decks offering river views; Ground‑floor garage with zoning approval for a bagel shop; Second‑floor updates include new carpet, new paint, and new exterior decking
