Duplex with River-View
For Sale
$225,000
Pending
11 Second Street, Coeymans, NY 12045
MULTI_FAMILY - Coeymans, NY
Property Size1,920 SF
Lot Size0.05 Acres
Days on Market139
Property Features for 11 Second Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Patio and Porch features
Deck
Interior features
Paddle Fan, High Speed Internet
Basement
Unfinished, Full
View
River
Elementary school
Pieter B. Coeymans
High school
Ravena Coeymans Selkirk HS
Elementary school district
Ravena-Coeymans-Selkirk
Middle school district
Ravena-Coeymans-Selkirk
High school district
Ravena-Coeymans-Selkirk
Directions
Route 144 South from Albany, left on Westerlo Street, left on Second Street.
Standard status
Pending
APN
012489 168.12-2-8
Size
1,920 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4224
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1880
Number of units
2
Flooring type
Carpet, Tile, Laminate
Building materials
Aluminum Siding, Brick
Roof type
Shingle
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 439-9600
Listed By:
Kathleen R Palmer · License #10401340095
(518) 253-0403
Added: Mar 27
Changed: Jul 24
Last Checked: Aug 12 at 10:06AM
MLS# 202614100
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 duplex at 11 Second Street in Coeymans includes two large apartment decks with river views. The ground floor is a garage with zoning approval for a bagel shop. The top floor is occupied by a long-term tenant. The second floor was recently refreshed with new carpet, new paint, new exterior decking, and a replaced front door.
Public parking is located directly across the street. The property also has separate utilities. Per the remarks, both tenants would like to stay.
With the garage space approved for a retail food use and the upper units occupied, the building offers a straightforward residential-income setup alongside a potentially flexible ground-floor component, subject to the stated zoning approval.
Public parking is located directly across the street. The property also has separate utilities. Per the remarks, both tenants would like to stay.
With the garage space approved for a retail food use and the upper units occupied, the building offers a straightforward residential-income setup alongside a potentially flexible ground-floor component, subject to the stated zoning approval.
Key Highlights
- River views from 2 large apartment decks
- 1880‑built property with aluminum siding and brick exterior
- Second floor recently refreshed with new carpet, new paint, and new exterior decking; front door replaced
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
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 12045, NY
662
Population
234
Households
2.8
Avg Household Size
40
Median Age
51%
College-Educated
99%
High-School Grad
1.2 sq mi
ZIP Area
552
Density / Sq Mi
$116,827
Median Household Income
$88,039
Median Earnings
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex featuring two large apartment decks with separate utilities and a ground-floor garage with approved bagel shop use.
Where is this duplex located?
The property is located at 11 Second Street 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: River views from 2 large apartment decks; 1880‑built property with aluminum siding and brick exterior; Second floor recently refreshed with new carpet, new paint, and new exterior decking; front door replaced
