2-Unit Brick
For Sale
$298,000
1305 Broadway, Watervliet, NY 12189
Both residences are vacant, giving the next owner flexibility to occupy or lease the units.
Property Size2,424 SF
Price / SF$122.94
Days on Market9
Property Features for 1305 Broadway
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
electric, gas, heat, hot water
Taxes and HOA fees
Annual Taxes
$3,832
Amenities
hardwood floors
bay windows
original woodwork
fireplace mantels
grand staircase
full basement with laundry
full walk-up attic
fenced yard
Building Details
Year Built
1880
Buildings
1
Construction
brick
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Christine M Serafini · License #40SE0980789
(518) 514-8830
Source:
Capmarkrealty
Added: Oct 24
Changed: Oct 25
Last Checked: Nov 1 at 2:41AM
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 Miranda Real Estate Group Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1880 brick duplex in Watervliet contains 2,424 square feet across two residences. Each unit has three bedrooms, one bathroom, a living room, formal dining room, and eat-in kitchen. Interior details include hardwood flooring, bay windows, original woodwork, fireplace mantels, and a central staircase. Separate electric and gas service, individual heat, and hot water heaters serve the units; tenants pay their own utilities. The property also includes a full basement with laundry, a walk-up attic, and a fenced yard.
Off-street parking consists of a one-car garage and one additional space. The property is at Broadway and 13th Street, with access to I-787 and connections to Troy and Albany. Both units are currently vacant.
Off-street parking consists of a one-car garage and one additional space. The property is at Broadway and 13th Street, with access to I-787 and connections to Troy and Albany. Both units are currently vacant.
Key Highlights
- Two residences, each with 3 bedrooms and 1 bathroom
- 2,424 square feet in a brick building constructed in 1880
- Separate electric, gas, heat, and hot water heaters; tenants pay their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,892
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,840
$517.8K
Cap Rate 7%
$369,886
$369.9K
Cap Rate 9%
$287,689
$287.7K
Market Conditions
NOI Build-Up for 2,424 SF
Gross rent
$49.4K $20.40/SF
− Vacancy
−$2.4K −$0.98/SF
EGI
$47.1K $19.42/SF
− OpEx
−$21.2K −$8.74/SF
NOI
$25.9K $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 Rate 5%
$517,840
Cap Rate 7%
$369,886
Cap Rate 9%
$287,689
Alternative Uses
Best Use
Multifamily LT 5
$399.8K
$349.9K – $466.5K
NOI $27,989 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$369.9K
$323.7K – $431.5K
NOI $25,892 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$756.4K
$661.9K – $882.5K
NOI $52,948 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
Median Home Value
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, giving the next owner flexibility to occupy or lease the units.
Where is this duplex located?
The property is located at 1305 Broadway Watervliet, NY.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 bathroom; 2,424 square feet in a brick building constructed in 1880; Separate electric, gas, heat, and hot water heaters; tenants pay their own utilities
