Building Details

Buildings 1

Tenancy Multi

Listing Agency: Coldwell Banker Prime Properties k***@coldwellbankerprime.com Show Phone

Listed By: Kathleen R Palmer · License #10401340095 Show Phone

Source: Exprealty

Added: Mar 27 Changed: Oct 6 Last Checked: Oct 16 at 2:14PM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

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 / Yr

$20,508

Cap Rate

9.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,160 $410.2K

Cap Rate 7%

$292,971 $293.0K

Cap Rate 9%

$227,867 $227.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,920 SF

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 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 (±1% cap)

NOI $22,170 @ 7.0% cap · market cap 9.85%

Second Best

Apartment 5plus

$293.0K

$256.4K – $341.8K (±1% cap)

NOI $20,508 @ 7.0% cap · market cap 9.11%

Theoretical Best

Office A

$599.1K

$524.2K – $699.0K (±1% cap)

NOI $41,939 @ 7.0% cap · market cap 18.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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