2-Unit Brick
New
For Sale
$298,000
1305 Broadway, Watervliet, NY 12189
Residential Income, Watervliet, NY
Property Size2,424 SF
Lot Size0.07 Acres
Price / SF$122.94
Days on Market7
Property Features for 1305 Broadway
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2
High school district
000000
Directions
I787 exit 8 to Broadway. Corner of 13th St.
Standard status
Active
APN
011800 32.75-2-45
Size
2,424 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3832
Utilities
Heating system
Forced Air, Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
hardwood floors
bay windows
original woodwork
fireplace mantels
grand staircase
full basement
walk-up attic
fenced yard
laundry
Building Details
Year built
1880
Number of units
2
Flooring type
Vinyl, Hardwood, Linoleum, Carpet
Building materials
Brick
Roof type
Rubber
Buildings
1
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Christine M Serafini · License #40SE0980789
(518) 356-1701
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 29 at 10:06PM
MLS# 12041425
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1880, this brick duplex contains two vacant residences totaling 2,424 square feet. Each unit has three bedrooms, one bathroom, a living room, a formal dining room, and an eat-in kitchen. Hardwood floors, bay windows, original wood details, fireplace mantels, and a central staircase add period character. Separate electric, gas, heating, and hot water systems serve the units.
The property occupies a 0.07-acre corner lot in Watervliet, with access to I-787 and connections to Troy and Albany. Off-street parking includes a one-car garage and one additional space. A full basement with laundry, a walk-up attic, and a fenced yard provide additional on-site features.
The property occupies a 0.07-acre corner lot in Watervliet, with access to I-787 and connections to Troy and Albany. Off-street parking includes a one-car garage and one additional space. A full basement with laundry, a walk-up attic, and a fenced yard provide additional on-site features.
Key Highlights
- Two vacant units, each with 3 bedrooms and 1 bathroom
- 2,424 square feet on a 0.07‑acre corner lot
- 1880 brick construction with hardwood floors, bay windows, woodwork, fireplace mantels, and a grand staircase
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.
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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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, with separate utilities and a distinct living and dining area in each.
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 vacant units, each with 3 bedrooms and 1 bathroom; 2,424 square feet on a 0.07‑acre corner lot; 1880 brick construction with hardwood floors, bay windows, woodwork, fireplace mantels, and a grand staircase
