Renovated Corner-Lot
For Sale
$898,000
111-113 East Avenue, Saratoga Springs, NY 12866
MultiFamily, Saratoga Springs, NY
Property Size2,992 SF
Lot Size0.28 Acres
Price / SF$300.13
Days on Market94
Property Features for 111-113 East Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Parking
8
Parking features
Off Street, Garage
Patio and Porch features
Deck, Porch
Interior features
Wall Paneling, Solid Surface Counters, High Speed Internet, Walk-In Closet(s), Built-in Features, Ceramic Tile Bath, Chair Rail, Crown Molding
Basement
Full
Lot features
Level, Landscaped, Sloped, Cleared, Corner Lot
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
From Exit 15, Route 50 west toward downtown. Left at East Ave, 2 blocks on Right. From Exit 14, to Ractrack Entrance. Right onto East Ave. Duplex on Left.
Standard status
Active
APN
411501 166.37-2-65
Size
2,992 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
11360
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Number of units
2
Flooring type
Hardwood, Tile, Carpet
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Monique Boulet · License #10301215029
(518) 312-6309
Added: Jun 14
Changed: Sep 12
Last Checked: Sep 15 at 2:06PM
MLS# 202619635
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 contains two three-level residences, each arranged with three bedrooms, two full bathrooms, open-concept living areas, dedicated laundry space, and soaking tubs. One unit has undergone a complete renovation with new hardwood flooring, modern appliances, and a new roof backed by a transferable warranty. The property also includes separate utilities, central air, private garages, basement storage, and vinyl siding. Hardwood, tile, and carpet flooring are present throughout the building.
Situated on a 0.28-acre corner lot at 111-113 East Avenue, the property is within walking distance of Saratoga Springs shopping and dining, the Saratoga Race Track, and SPAC. Outdoor features include a large deck, porch, and private backyard. Public water and public sewer serve the property, with forced-air natural gas heating and cable availability.
Situated on a 0.28-acre corner lot at 111-113 East Avenue, the property is within walking distance of Saratoga Springs shopping and dining, the Saratoga Race Track, and SPAC. Outdoor features include a large deck, porch, and private backyard. Public water and public sewer serve the property, with forced-air natural gas heating and cable availability.
Key Highlights
- Duplex with 2 three‑bedroom, 2‑bathroom units
- Each residence spans three levels and includes dedicated laundry space
- One unit fully renovated with new hardwood floors and modern appliances
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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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-level residences offer private garages, separate utilities, central air, laundry areas, and outdoor space.
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: Duplex with 2 three‑bedroom, 2‑bathroom units; Each residence spans three levels and includes dedicated laundry space; One unit fully renovated with new hardwood floors and modern appliances
