Updated Two-Unit
For Sale
$205,000
24 Chestnut Street, Cohoes, NY 12047
Fully occupied duplex with separate utilities, updated apartments, fenced backyard, and flexible month-to-month tenancy.
Property Size1,632 SF
Price / SF$125.61
Days on Market43
Property Features for 24 Chestnut Street
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$3,566
Building Details
Year Built
1912
Listing Agency:
KW Platform
(518) 405-6888
Listed By:
Christopher Iwinski · License #10401237144
(518) 405-6888
Source:
Capmarkrealty
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 12:54PM
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 KW Platform
Investment Insights
Based on property information with market context.
This 1,632-square-foot duplex contains two matching apartments, each with two bedrooms and one bathroom. Both units have efficient layouts, separate utilities, and month-to-month tenants. Interior updates include newer cabinets and flooring in each apartment, while the property also provides tenant storage areas and a fenced backyard.
Major systems have been improved, including electrical, plumbing, and heating work completed approximately 10 years ago. Vinyl replacement windows, new siding, and a professionally coated rubber roof were completed approximately 3 years ago.
The property is positioned on a quiet one-way street in Cohoes, steps from the Empire State Trail and West End Park. Cohoes Middle School is within walking distance, adding convenient access to nearby recreation and education facilities.
Major systems have been improved, including electrical, plumbing, and heating work completed approximately 10 years ago. Vinyl replacement windows, new siding, and a professionally coated rubber roof were completed approximately 3 years ago.
The property is positioned on a quiet one-way street in Cohoes, steps from the Empire State Trail and West End Park. Cohoes Middle School is within walking distance, adding convenient access to nearby recreation and education facilities.
Key Highlights
- Two‑unit duplex with 1,632 SF of total property size
- Two 2‑bedroom, 1‑bath apartments with separate utilities
- Fully occupied with month‑to‑month tenants
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
$18,844
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
9.19%
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%
$376,880
$376.9K
Cap Rate 7%
$269,200
$269.2K
Cap Rate 9%
$209,378
$209.4K
Market Conditions
NOI Build-Up for 1,632 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
$28.4K $17.40/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$26.9K $16.50/SF
− OpEx
−$8.1K −$4.95/SF
NOI
$18.8K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /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%
$376,880
Cap Rate 7%
$269,200
Cap Rate 9%
$209,378
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.5K
NOI $17,432 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
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 - Fully occupied duplex with separate utilities, updated apartments, fenced backyard, and flexible month-to-month tenancy.
Where is this duplex located?
The property is located at 24 Chestnut Street Cohoes, NY.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,632 SF of total property size; Two 2‑bedroom, 1‑bath apartments with separate utilities; Fully occupied with month‑to‑month tenants
