Remodeled Two-Family
New
For Sale
$269,900
1114 Broadway, Menands, NY 12204
Both apartments have open layouts and updated kitchens and bathrooms.
Property Size2,340 SF
Price / SF$115.34
Days on Market1
Property Features for 1114 Broadway
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$40,800
Multifamily Units
2
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Monticello
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Oct 1
Last Checked: Oct 1 at 10:21AM
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 Monticello
Investment Insights
Based on property information with market context.
This 2,340-square-foot duplex, built in 1925, contains two occupied apartments. One is a four-bedroom unit arranged across the second and third floors, with two bedrooms on each level. Its layout includes an office adjoining a bedroom and a primary bedroom with two closets. The other apartment has a large great room and an open layout.
Kitchens and bathrooms have been replaced in both units. The property is located at 1114 Broadway in Menands, New York.
Kitchens and bathrooms have been replaced in both units. The property is located at 1114 Broadway in Menands, New York.
Key Highlights
- 2,340‑square‑foot duplex built in 1925
- Two occupied apartments
- Four‑bedroom duplex unit spans the second and third floors, with two bedrooms on each level
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
$23,903
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
8.86%
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%
$478,060
$478.1K
Cap Rate 7%
$341,471
$341.5K
Cap Rate 9%
$265,589
$265.6K
Market Conditions
NOI Build-Up for 2,340 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
$46.3K $19.80/SF
− Vacancy
−$2.9K −$1.23/SF
EGI
$43.5K $18.57/SF
− OpEx
−$19.6K −$8.36/SF
NOI
$23.9K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /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%
$478,060
Cap Rate 7%
$341,471
Cap Rate 9%
$265,589
Alternative Uses
Best Use
Multifamily LT 5
$380.7K
$333.1K – $444.2K
NOI $26,649 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$341.5K
$298.8K – $398.4K
NOI $23,903 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$617.4K
$540.2K – $720.3K
NOI $43,215 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Both apartments have open layouts and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 1114 Broadway Menands, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,340‑square‑foot duplex built in 1925; Two occupied apartments; Four‑bedroom duplex unit spans the second and third floors, with two bedrooms on each level
