Renovated 2-Unit
For Sale
$275,000
1540 8th Avenue, Watervliet, NY 12189
Two vacant residences offer a three-bedroom upper layout and a two-bedroom first-floor unit with private outdoor space.
Property Size2,231 SF
Price / SF$123.26
Days on Market37
Property Features for 1540 8th Avenue
General Information
Standard status
Active
Size
2,231 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,263
Building Details
Year Built
1970
Listing Agency:
Venture Fox Realty Group LLC
(518) 653-1898
Listed By:
Abigail Curtiss · License #10401362361
(518) 653-1898
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 28 at 10:42AM
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 Venture Fox Realty Group LLC
Investment Insights
Based on property information with market context.
This 2,231-square-foot duplex, built in 1970, has been fully renovated and is configured as two separate residences. The upper apartment includes three bedrooms, while the first-floor unit provides two bedrooms. Both units are currently unoccupied, allowing the next owner to establish occupancy from the outset.
The second-floor residence includes a private backyard. The property is located at 1540 8th Avenue in Watervliet, NY 12189. Its two-unit layout and renovated condition provide a straightforward multifamily configuration, with potential for either continued rental use or future owner occupancy as supported by the existing design.
The second-floor residence includes a private backyard. The property is located at 1540 8th Avenue in Watervliet, NY 12189. Its two-unit layout and renovated condition provide a straightforward multifamily configuration, with potential for either continued rental use or future owner occupancy as supported by the existing design.
Key Highlights
- Fully renovated 2,231‑square‑foot duplex
- Two units: 3‑bedroom upper apartment and 2‑bedroom first‑floor unit
- Both residences are currently unoccupied
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
$23,830
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
8.67%
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%
$476,600
$476.6K
Cap Rate 7%
$340,429
$340.4K
Cap Rate 9%
$264,778
$264.8K
Market Conditions
NOI Build-Up for 2,231 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
$45.5K $20.40/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$43.3K $19.42/SF
− OpEx
−$19.5K −$8.74/SF
NOI
$23.8K $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%
$476,600
Cap Rate 7%
$340,429
Cap Rate 9%
$264,778
Alternative Uses
Best Use
Multifamily LT 5
$368.0K
$322.0K – $429.4K
NOI $25,761 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$340.4K
$297.9K – $397.2K
NOI $23,830 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$696.2K
$609.2K – $812.2K
NOI $48,732 @ 7.0% cap · market cap 17.72%
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
452
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
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 vacant residences offer a three-bedroom upper layout and a two-bedroom first-floor unit with private outdoor space.
Where is this duplex located?
The property is located at 1540 8th Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully renovated 2,231‑square‑foot duplex; Two units: 3‑bedroom upper apartment and 2‑bedroom first‑floor unit; Both residences are currently unoccupied
