Two-Home Multifamily
For Sale
$495,000
17-19 Teal Rd, Averill Park, NY 12018
Updated residences on a private parcel with lake views, public water access, and one home leased through September 30, 2026.
Property Size3,191 SF
Lot Size1.00 Acre
Price / SF$155.12
Days on Market41
Property Features for 17-19 Teal Rd
General Information
Standard status
Active
Size
3,191 SF
Lot size
1.00 Acre
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1997
Buildings
2
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 526-1800
Listed By:
Brian Walters
(518) 526-1800
Source:
Albanyprimeproperties
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 28 at 10:16AM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
This multifamily property includes two separate homes on a one-acre parcel, providing distinct residential spaces within a single holding. Both residences have been updated with renovated kitchens featuring granite countertops, refreshed bathrooms, new flooring, and modern interior finishes. The property was built in 1997 and is described as well maintained and move-in ready.
One home is leased through September 30, 2026. The setting includes seasonal views of Glass Lake and is within walking distance of public lake access. Restaurants, coffee shops, specialty retailers, and entertainment are located minutes away, with access to attractions in Massachusetts and Vermont, including museums, galleries, antique shops, concerts at Tanglewood, and skiing at Jiminy Peak.
One home is leased through September 30, 2026. The setting includes seasonal views of Glass Lake and is within walking distance of public lake access. Restaurants, coffee shops, specialty retailers, and entertainment are located minutes away, with access to attractions in Massachusetts and Vermont, including museums, galleries, antique shops, concerts at Tanglewood, and skiing at Jiminy Peak.
Key Highlights
- Two separate homes on a one‑acre parcel
- Both residences feature renovated kitchens with granite countertops, updated baths, and new flooring
- One residence leased through September 30, 2026
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
$38,733
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
7.82%
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%
$774,660
$774.7K
Cap Rate 7%
$553,329
$553.3K
Cap Rate 9%
$430,367
$430.4K
Market Conditions
NOI Build-Up for 3,191 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
$74.3K $23.28/SF
− Vacancy
−$3.9K −$1.21/SF
EGI
$70.4K $22.07/SF
− OpEx
−$31.7K −$9.93/SF
NOI
$38.7K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /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%
$774,660
Cap Rate 7%
$553,329
Cap Rate 9%
$430,367
Alternative Uses
Best Use
Apartment 5plus
$553.3K
$484.2K – $645.6K
NOI $38,733 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$797.7K
$698.0K – $930.7K
NOI $55,839 @ 7.0% cap · market cap 11.28%
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
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 12018, NY
7,626
Population
3,123
Households
2.4
Avg Household Size
46
Median Age
43%
College-Educated
97%
High-School Grad
46.2 sq mi
ZIP Area
165
Density / Sq Mi
$133,542
Median Household Income
$72,310
Median Earnings
$1,339
Median Rent
$318,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated residences on a private parcel with lake views, public water access, and one home leased through September 30, 2026.
Where is this multifamily property located?
The property is located at 17-19 Teal Rd Averill Park, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two separate homes on a one‑acre parcel; Both residences feature renovated kitchens with granite countertops, updated baths, and new flooring; One residence leased through September 30, 2026
