Four-Unit Multifamily with
For Sale
$469,900
Pending
110 Lancaster Street, Cohoes, NY 12047
MULTI_FAMILY - Other - Cohoes, NY
Property Size3,762 SF
Lot Size0.10 Acres
Days on Market49
Property Features for 110 Lancaster Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 5, Bedroom 8, Bedroom 2, Bedroom 3
Parking
3
Parking features
Garage, Off Street, Driveway
Basement
Unfinished, Partial
Elementary school district
Cohoes
Middle school district
Cohoes
High school district
Cohoes
Directions
787 N to Left on Empire State Trail. Right on Saratoga St. Stay Veer Left onto Main St. Left on Newark St. Right on Lancaster St (One Way Road)
Standard status
Pending
APN
010300 10.75-1-22
Size
3,762 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4257
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1958
Number of units
4
Building materials
Vinyl Siding
Roof type
Rubber
Architectural style
Other
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 935-2555
Listed By:
Leon Levy · License #30LE0983094
(518) 727-7493
Added: Jun 29
Changed: Jul 24
Last Checked: Aug 16 at 5:06AM
MLS# 202620678
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 for-sale four-unit multifamily property totals 3,762 square feet on a 0.1-acre lot and includes a garage for added functionality. The building is described as well-maintained and kept in above-average condition. Separate utilities are noted, which can help streamline ownership and expense management for the building.
Located at 110 Lancaster Street in Cohoes, New York (Albany County), the property is positioned as a straightforward investment asset within the local market.
For buyers seeking a residential income property with an in-place garage, this offering provides a practical combination of separate utilities and an additional revenue component. The garage is currently rented for $190/month, and the space can also support tenant convenience and storage needs. With a four-unit configuration and reported pride of ownership, the property may suit investors looking to add a manageable multifamily asset to an existing portfolio or enter the residential income space with a well-kept building. Please contact the listing broker to schedule an appointment.
Located at 110 Lancaster Street in Cohoes, New York (Albany County), the property is positioned as a straightforward investment asset within the local market.
For buyers seeking a residential income property with an in-place garage, this offering provides a practical combination of separate utilities and an additional revenue component. The garage is currently rented for $190/month, and the space can also support tenant convenience and storage needs. With a four-unit configuration and reported pride of ownership, the property may suit investors looking to add a manageable multifamily asset to an existing portfolio or enter the residential income space with a well-kept building. Please contact the listing broker to schedule an appointment.
Key Highlights
- 4‑unit multi‑family property built in 1958
- Garage available with current rent of $190/month
- Separate utilities for each unit
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
$40,184
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
8.55%
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%
$803,680
$803.7K
Cap Rate 7%
$574,057
$574.1K
Cap Rate 9%
$446,489
$446.5K
Market Conditions
NOI Build-Up for 3,762 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
$76.7K $20.40/SF
− Vacancy
−$3.7K −$0.98/SF
EGI
$73.1K $19.42/SF
− OpEx
−$32.9K −$8.74/SF
NOI
$40.2K $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%
$803,680
Cap Rate 7%
$574,057
Cap Rate 9%
$446,489
Alternative Uses
Best Use
Multifamily LT 5
$620.5K
$543.0K – $724.0K
NOI $43,438 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$574.1K
$502.3K – $669.7K
NOI $40,184 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,174 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
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?
Quadplex - Well-maintained 4-unit property with separate utilities and a garage that is currently rented.
Where is this quadplex located?
The property is located at 110 Lancaster Street Cohoes, NY.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 4‑unit multi‑family property built in 1958; Garage available with current rent of $190/month; Separate utilities for each unit
