Vintage Duplex with Two-Car
For Sale
$289,000
Pending
12 Numan Street, Glens Falls, NY 12801
Each residence offers a two-bedroom, two-bath layout with period architectural details.
Property Size2,572 SF
Days on Market182
Property Features for 12 Numan Street
General Information
Standard status
Pending
Size
2,572 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,129
Amenities
covered porch
deck
fully fenced yard
Metal
None, No
Forced Air, Natural Gas, Yes
Full
200+ Amp Service, Circuit Breakers
Hardwood, Laminate
Yes
1
High Speed Internet
Dining Room
Stone
Wood Siding
Fenced
Main Level, Upper Level
Garage(s)
Rear Porch, Side Porch, Deck
Building Details
Year Built
1883
Buildings
1
Listing Agency:
Hunt ERA
(518) 796-8284
Listed By:
Teresa L DeAngelo · License #30DE0765471
(518) 796-8284
Source:
Compass
Added: Mar 2
Changed: Aug 30
Last Checked: Aug 30 at 11:42PM
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 Hunt ERA
Investment Insights
Based on property information with market context.
Built in 1883, this 2,572-square-foot duplex retains curved interior walls, hardwood flooring, a fireplace, and a bowed window. Both residences are arranged with two bedrooms and two bathrooms. The lower unit also includes an office or den, along with access to an upper family or television room that is not heated.
Exterior features include a covered rear porch, deck, fenced yard, and a two-car garage. The property also provides side porch access, forced-air heating, natural gas service, full basement space, circuit breakers, and high-speed internet. Located on a quiet side street, the home is within a stated 5–10 minute walk of downtown.
Exterior features include a covered rear porch, deck, fenced yard, and a two-car garage. The property also provides side porch access, forced-air heating, natural gas service, full basement space, circuit breakers, and high-speed internet. Located on a quiet side street, the home is within a stated 5–10 minute walk of downtown.
Key Highlights
- 2,572‑square‑foot duplex constructed in 1883
- Two residences, each with 2 bedrooms and 2 bathrooms
- Lower unit includes an office or den and access to an upper family or TV room
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
$23,508
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
8.13%
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%
$470,160
$470.2K
Cap Rate 7%
$335,829
$335.8K
Cap Rate 9%
$261,200
$261.2K
Market Conditions
NOI Build-Up for 2,572 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
$36.1K $14.04/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$33.6K $13.06/SF
− OpEx
−$10.1K −$3.92/SF
NOI
$23.5K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /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%
$470,160
Cap Rate 7%
$335,829
Cap Rate 9%
$261,200
Alternative Uses
Best Use
Multifamily LT 5
$335.8K
$293.9K – $391.8K
NOI $23,508 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$306.4K
$268.1K – $357.5K
NOI $21,448 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$769.8K
$673.6K – $898.2K
NOI $53,889 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,957
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers a two-bedroom, two-bath layout with period architectural details.
Where is this duplex located?
The property is located at 12 Numan Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 2,572‑square‑foot duplex constructed in 1883; Two residences, each with 2 bedrooms and 2 bathrooms; Lower unit includes an office or den and access to an upper family or TV room
