Renovated Side-by-Side
For Sale
$375,000
13 Smoke Ridge Road, Queensbury, NY 12804
Two separately metered units offer private garages and flexible owner-occupant or rental use.
Property Size2,052 SF
Price / SF$182.75
Days on Market193
Property Features for 13 Smoke Ridge Road
General Information
Standard status
Active
Size
2,052 SF
Total Parking Spaces
6
Property subtype
Multi Family / Duplex
Taxes and HOA fees
Annual Taxes
$5,225
Amenities
Composition
Central Air, Yes
Forced Air, Natural Gas, Yes
200+ Amp Service
Carpet, Laminate
Drywall, Vinyl Siding
Partial
Laundry Closet, Upper Level
Garage(s)
Other
Building Details
Year Built
1989
Listing Agency:
Coldwell Banker Prime Properties
(631) 404-7593
Listed By:
Erin Tims · License #10401348371
(631) 404-7593
Source:
Compass
Added: Feb 19
Changed: Aug 31
Last Checked: Aug 31 at 1:25AM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2052 square feet of living space across two residential units. Each apartment includes a living room, kitchen, and half bath on the main level, followed upstairs by two bedrooms, a full bathroom, and a laundry room. One unit has been renovated, while both units feature separate metering and a private garage. Central air, forced-air natural gas heating, newer furnaces, and newer water heaters add to the property’s existing systems. The building also has 200+ amp electrical service and was constructed in 1989.
A new septic system was installed in 2022. Located at 13 Smoke Ridge Road in Queensbury, NY 12804, the property can support either an owner-occupied arrangement or continued use as a two-unit residential income property.
A new septic system was installed in 2022. Located at 13 Smoke Ridge Road in Queensbury, NY 12804, the property can support either an owner-occupied arrangement or continued use as a two-unit residential income property.
Key Highlights
- Side‑by‑side duplex with 2052 square feet of living space
- Two separately metered residential units
- Private garage assigned to each apartment
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
$18,755
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
5.00%
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%
$375,100
$375.1K
Cap Rate 7%
$267,929
$267.9K
Cap Rate 9%
$208,389
$208.4K
Market Conditions
NOI Build-Up for 2,052 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
$28.8K $14.04/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$26.8K $13.06/SF
− OpEx
−$8.0K −$3.92/SF
NOI
$18.8K $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%
$375,100
Cap Rate 7%
$267,929
Cap Rate 9%
$208,389
Alternative Uses
Best Use
Multifamily LT 5
$267.9K
$234.4K – $312.6K
NOI $18,755 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$244.5K
$213.9K – $285.2K
NOI $17,112 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$614.2K
$537.4K – $716.6K
NOI $42,994 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 12804, NY
27,790
Population
13,287
Households
2.1
Avg Household Size
47
Median Age
39%
College-Educated
94%
High-School Grad
54.7 sq mi
ZIP Area
508
Density / Sq Mi
$90,074
Median Household Income
$50,368
Median Earnings
$1,209
Median Rent
$284,400
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 - Two separately metered units offer private garages and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 13 Smoke Ridge Road Queensbury, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2052 square feet of living space; Two separately metered residential units; Private garage assigned to each apartment
