Building Details

Year Built 1970

Buildings 1

Listing Agency: Howard Hanna Capital Inc m***@fieldrealty.com Show Phone

Listed By: Michael Field · License #10491203035 Show Phone

Source: Fieldrealty

Added: Aug 19 Changed: Aug 28 Last Checked: Aug 30 at 4:32PM

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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 Howard Hanna Capital Inc

Investment Insights

Based on property information with market context.

This 1970 duplex contains 3,176 square feet across two side-by-side residences. Each unit offers three bedrooms, two full bathrooms, hot-air heating, central air, and separately metered utilities. Rear walkout access connects each family room to the backyard, while above-ground propane tanks with individual meters serve the units. The property includes ample off-street parking on approximately 0.80 acres.

Located at 1119-1121 Raymond Road in Malta, the property is near shopping, dining, and major roadways. The left residence is leased through February 2027, and the right residence is rented through November 15, 2026, providing established occupancy with separate utility arrangements for management flexibility.

Key Highlights

• Two‑unit side‑by‑side layout with 3,176 square feet of total living space
• Each residence includes 3 bedrooms and 2 full bathrooms
• Approximately 0.80 acres with ample off‑street parking

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

$42,171

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

8.80%

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%

$843,420 $843.4K

Cap Rate 7%

$602,443 $602.4K

Cap Rate 9%

$468,567 $468.6K

Market Conditions

NOI Build-Up for 3,176 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

$80.0K $25.20/SF

− Vacancy

−$3.4K −$1.06/SF

EGI

$76.7K $24.14/SF

− OpEx

−$34.5K −$10.86/SF

NOI

$42.2K $13.28/SF

Area

Saratoga County, NY

Vacancy

4.20%

Lease Rate

$25.20 /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%

$843,420

Cap Rate 7%

$602,443

Cap Rate 9%

$468,567

Alternative Uses

Best Use

Multifamily LT 5

$673.3K

$589.2K – $785.6K (±1% cap)

NOI $47,134 @ 7.0% cap · market cap 9.84%

Second Best

Apartment 5plus

$602.4K

$527.1K – $702.9K (±1% cap)

NOI $42,171 @ 7.0% cap · market cap 8.80%

Theoretical Best

Office A

$950.6K

$831.8K – $1.11M (±1% cap)

NOI $66,544 @ 7.0% cap · market cap 13.89%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Auto Repair Shop Law Firm Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

Explore this area Business Placement

Demographics for 12020, NY

34,667

Population

15,787

Households

2.2

Avg Household Size

42

Median Age

43%

College-Educated

94%

High-School Grad

75.6 sq mi

ZIP Area

459

Density / Sq Mi

$101,727

Median Household Income

$59,730

Median Earnings

$1,562

Median Rent

$299,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Similar For Sale Nearby

Residential Land with Existing Foundation

2130 Rowley Road, Malta, NY 12020

$650,000

3.00 Acres

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Side-by-Side Duplex with Separate Utilities

1119-1121 Raymond Road, Malta, NY 12020

$479,000

3,176 SF

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate residences provide flexible ownership, rental, or live-in arrangements on a spacious parcel.

Where is this duplex located?

The property is located at 1119-1121 Raymond Rd Malta, NY.

What is the asking price?

The asking price for this property is $479,000.

What are key features of this property?

This property features: Two‑unit side‑by‑side layout with 3,176 square feet of total living space; Each residence includes 3 bedrooms and 2 full bathrooms; Approximately 0.80 acres with ample off‑street parking