Corner-Lot Duplex with Private
For Sale
$898,000
111-113 East Avenue, Saratoga Springs, NY 12866
Duplex with two units, separate utilities, central air, private garages, and one extensively renovated side.
Property Size2,992 SF
Price / SF$300.13
Days on Market146
Property Features for 111-113 East Avenue
General Information
Standard status
Active
Size
2,992 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
dedicated laundry areas
soaking tubs
large deck
private backyard
separate utilities
central air
private garages
abundant basement storage
Building Details
Year Built
1998
Listing Agency:
KW Platform
Listed By:
Monique Boulet
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Apr 23
Changed: Sep 14
Last Checked: Sep 15 at 7:47AM
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 KW Platform
Investment Insights
Based on property information with market context.
This corner-lot duplex at 111-113 East Avenue offers two residential units with three levels of open-concept living. Each unit features three bedrooms and two full bathrooms, dedicated laundry areas, and soaking tubs. Separate utilities support independent operations, with central air and abundant basement storage. Both units include outdoor space, including a large deck and a private backyard.
One unit has been completely gutted and renovated, with a brand-new roof that includes a transferrable warranty, pristine hardwood floors, and modern appliances. The property also includes private garages.
Located in downtown Saratoga Springs, the home is described as walkable to premier shopping and dining, and within walking distance to the historic Saratoga Race Track and SPAC. The listing also notes a package deal opportunity to purchase together with a duplex at 103-105 East Avenue for portfolio expansion.
One unit has been completely gutted and renovated, with a brand-new roof that includes a transferrable warranty, pristine hardwood floors, and modern appliances. The property also includes private garages.
Located in downtown Saratoga Springs, the home is described as walkable to premier shopping and dining, and within walking distance to the historic Saratoga Race Track and SPAC. The listing also notes a package deal opportunity to purchase together with a duplex at 103-105 East Avenue for portfolio expansion.
Key Highlights
- Corner‑lot duplex built in 1998 with 2 units, each offering 3 bedrooms and 2 full bathrooms
- One unit has been completely gutted and renovated with a brand‑new roof (transferrable warranty), hardwood floors, and modern appliances
- Each unit includes dedicated laundry areas and soaking tubs
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
$44,403
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
4.94%
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%
$888,060
$888.1K
Cap Rate 7%
$634,329
$634.3K
Cap Rate 9%
$493,367
$493.4K
Market Conditions
NOI Build-Up for 2,992 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
$66.4K $22.20/SF
− Vacancy
−$3.0K −$1.00/SF
EGI
$63.4K $21.20/SF
− OpEx
−$19.0K −$6.36/SF
NOI
$44.4K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$888,060
Cap Rate 7%
$634,329
Cap Rate 9%
$493,367
Alternative Uses
Best Use
Multifamily LT 5
$634.3K
$555.0K – $740.1K
NOI $44,403 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$567.5K
$496.6K – $662.1K
NOI $39,727 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$895.5K
$783.6K – $1.04M
NOI $62,688 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units, separate utilities, central air, private garages, and one extensively renovated side.
Where is this duplex located?
The property is located at 111-113 East Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: Corner‑lot duplex built in 1998 with 2 units, each offering 3 bedrooms and 2 full bathrooms; One unit has been completely gutted and renovated with a brand‑new roof (transferrable warranty), hardwood floors, and modern appliances; Each unit includes dedicated laundry areas and soaking tubs
