Building Details

Year Built 1970

Buildings 1

Tenancy Multi

Listing Agency: Re Max Solutions

Listed By: Marion J Taylor Paolucci Show Phone

Source: Signatureonerealtygroup

Added: Aug 16 Changed: Aug 20 Last Checked: Aug 20 at 7:28AM

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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 Re Max Solutions

Investment Insights

Based on property information with market context.

Built in 1970, this side-by-side duplex contains two three-bedroom, two-bath units with separate utilities and individual propane meters. Both units feature hot air heating, central air, and rear walkout access from the family rooms to the backyard. The property sits on approximately .80 acres and includes ample off-street parking.

The left unit is leased through February 2027, while the right unit is rented through November 15th 2026. Its Malta setting offers access to shopping, dining, and major roadways, with the surrounding Malta and Ballston Spa area nearby. The configuration supports either continued rental use or occupancy of one unit while leasing the other.

Key Highlights

• Two side‑by‑side units, each with 3 bedrooms and 2 full baths
• Separate utilities with an above‑ground propane tank and meter for each unit
• Approximately .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

Multi-tenant

Tenancy

Yes

Utilities to site

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two three-bedroom units provide owner-occupancy flexibility, individual utilities, central air, and off-street parking.

Where is this duplex located?

The property is located at 1119-1121 Raymond Road 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 side‑by‑side units, each with 3 bedrooms and 2 full baths; Separate utilities with an above‑ground propane tank and meter for each unit; Approximately .80 acres with ample off‑street parking