Duplex with Apartment
For Sale
$175,000
Pending
13 Second Street, Coeymans, NY 12045
MultiFamily, Coeymans, NY
Property Size1,424 SF
Lot Size0.03 Acres
Days on Market176
Property Features for 13 Second Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
Patio and Porch features
Deck
Lot features
Sloped
View
River
Elementary school
Pieter B. Coeymans
High school
Ravena Coeymans Selkirk HS
Elementary school district
Ravena-Coeymans-Selkirk
Middle school district
Ravena-Coeymans-Selkirk
High school district
Ravena-Coeymans-Selkirk
Directions
River road south from Albany, left on Westerlo Street. left on 2nd Street.
Standard status
Pending
APN
012489 168.12-2-9
Size
1,424 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
4940
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Water front features
Lake
Water front
1
Building Details
Year built
1920
Number of units
2
Flooring type
Tile
Building materials
Aluminum Siding, Stone
Roof type
Shingle
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 439-9600
Listed By:
Kathleen R Palmer · License #10401340095
(518) 253-0403
Added: Mar 27
Changed: Sep 12
Last Checked: Sep 18 at 7:06PM
MLS# 202614101
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 two-apartment property contains 1,424 square feet on a 0.03-acre lot and dates to 1920. Both units offer water views, while the rear apartment includes a deck. The building has aluminum siding and stone exterior elements, tile flooring, shingle roofing, public water, and public sewer. Heating is provided by natural-gas baseboard systems, with separate electric service for the apartments.
Located at 13 Second Street in Coeymans, the property has public parking available across the street. The upper apartment is occupied by a long-term tenant, and both tenants have expressed interest in remaining. Cable service is available at the property.
Located at 13 Second Street in Coeymans, the property has public parking available across the street. The upper apartment is occupied by a long-term tenant, and both tenants have expressed interest in remaining. Cable service is available at the property.
Key Highlights
- 1,424‑square‑foot duplex on a 0.03‑acre lot
- Two apartments with water views
- Rear apartment includes a deck
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
$15,210
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
8.69%
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%
$304,200
$304.2K
Cap Rate 7%
$217,286
$217.3K
Cap Rate 9%
$169,000
$169.0K
Market Conditions
NOI Build-Up for 1,424 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
$29.0K $20.40/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$27.7K $19.42/SF
− OpEx
−$12.4K −$8.74/SF
NOI
$15.2K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /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%
$304,200
Cap Rate 7%
$217,286
Cap Rate 9%
$169,000
Alternative Uses
Best Use
Multifamily LT 5
$234.9K
$205.5K – $274.0K
NOI $16,442 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$217.3K
$190.1K – $253.5K
NOI $15,210 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$444.4K
$388.8K – $518.4K
NOI $31,105 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 12045, NY
662
Population
234
Households
2.8
Avg Household Size
40
Median Age
51%
College-Educated
99%
High-School Grad
1.2 sq mi
ZIP Area
552
Density / Sq Mi
$116,827
Median Household Income
$88,039
Median Earnings
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with natural-gas baseboard heat and separate electric service.
Where is this duplex located?
The property is located at 13 Second Street Coeymans, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,424‑square‑foot duplex on a 0.03‑acre lot; Two apartments with water views; Rear apartment includes a deck
