Park-Facing
For Sale
$649,000
Pending
17 Granger Avenue, Saratoga Springs, NY 12866
Legal two-family property with a fully fenced backyard and front porch oriented toward open green space.
Property Size1,940 SF
Days on Market42
Property Features for 17 Granger Avenue
General Information
Standard status
Pending
Size
1,940 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,187
Building Details
Year Built
1920
Listing Agency:
Katie LaTerra Homes LLC
Listed By:
Katherine N LaTerra
(518) 441-2237
Source:
Capmarkrealty
Added: Jul 24
Changed: Sep 2
Last Checked: Sep 2 at 1:51PM
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 Katie LaTerra Homes LLC
Investment Insights
Based on property information with market context.
This legal two-family property at 17 Granger Avenue provides a residential income configuration with 1,940 SF and a 1920 construction date. The home includes a front porch with views toward open green space and mature pines, along with a fully fenced backyard suited to outdoor use.
Located in downtown Saratoga Springs, the property offers owner-occupant flexibility within a two-family layout. The existing arrangement could be converted toward single-family use by removing the upstairs kitchen and one exterior door, subject to buyer verification of intended use and conversion requirements. The property is being sold as is through an estate sale.
Located in downtown Saratoga Springs, the property offers owner-occupant flexibility within a two-family layout. The existing arrangement could be converted toward single-family use by removing the upstairs kitchen and one exterior door, subject to buyer verification of intended use and conversion requirements. The property is being sold as is through an estate sale.
Key Highlights
- Legal two‑family property at 17 Granger Avenue
- 1,940 SF building constructed in 1920
- Front porch faces open green space and mature pines
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
$28,791
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
4.44%
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%
$575,820
$575.8K
Cap Rate 7%
$411,300
$411.3K
Cap Rate 9%
$319,900
$319.9K
Market Conditions
NOI Build-Up for 1,940 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
$43.1K $22.20/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$41.1K $21.20/SF
− OpEx
−$12.3K −$6.36/SF
NOI
$28.8K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$575,820
Cap Rate 7%
$411,300
Cap Rate 9%
$319,900
Alternative Uses
Best Use
Multifamily LT 5
$411.3K
$359.9K – $479.9K
NOI $28,791 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$580.7K
$508.1K – $677.5K
NOI $40,647 @ 7.0% cap · market cap 6.26%
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
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property with a fully fenced backyard and front porch oriented toward open green space.
Where is this duplex located?
The property is located at 17 Granger Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Legal two‑family property at 17 Granger Avenue; 1,940 SF building constructed in 1920; Front porch faces open green space and mature pines
