Updated Side-by-Side
For Sale
$425,000
2215-2217 5th Ave, Troy, NY 12180
Renovated duplex with separate residences, owner-occupancy flexibility, and one tenant-occupied unit.
Property Size3,392 SF
Price / SF$125.29
Days on Market50
Property Features for 2215-2217 5th Ave
General Information
Standard status
Active
Size
3,392 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
solar panels
in-unit washer and dryer
Building Details
Year Built
1890
Year Renovated
2020
Listing Agency:
Realty One Group Key
(518) 861-7016
Listed By:
Clancy Real Estate, Inc · License #10491203035
(518) 861-7016
Source:
Clancyrealestate
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 4:25PM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This 3,392-square-foot duplex at 2215-2217 5th Ave features a side-by-side configuration with two separate residences. Renovated in 2020, the larger home includes 4 bedrooms, 2 full bathrooms, multiple living and lounge areas, high ceilings, and an in-unit washer and dryer. A first-floor bedroom and full bathroom support flexible living arrangements. The adjoining residence offers 1 bedroom and 1 bathroom and is currently tenant-occupied. Owned solar panels are included with the property.
Built in 1890, the property is located in Troy, NY, within walking distance of downtown restaurants, boutique shopping, entertainment, the Troy Waterfront Farmers Market, and year-round events. It is also situated near new development and revitalization projects.
Built in 1890, the property is located in Troy, NY, within walking distance of downtown restaurants, boutique shopping, entertainment, the Troy Waterfront Farmers Market, and year-round events. It is also situated near new development and revitalization projects.
Key Highlights
- 3,392‑square‑foot side‑by‑side duplex at 2215‑2217 5th Ave, Troy, NY 12180
- Renovated in 2020
- Larger residence includes 4 bedrooms and 2 full bathrooms
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
$36,231
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
8.52%
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%
$724,620
$724.6K
Cap Rate 7%
$517,586
$517.6K
Cap Rate 9%
$402,567
$402.6K
Market Conditions
NOI Build-Up for 3,392 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
$69.2K $20.40/SF
− Vacancy
−$3.3K −$0.98/SF
EGI
$65.9K $19.42/SF
− OpEx
−$29.6K −$8.74/SF
NOI
$36.2K $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%
$724,620
Cap Rate 7%
$517,586
Cap Rate 9%
$402,567
Alternative Uses
Best Use
Multifamily LT 5
$559.5K
$489.6K – $652.8K
NOI $39,166 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$517.6K
$452.9K – $603.9K
NOI $36,231 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$1.06M
$926.2K – $1.23M
NOI $74,092 @ 7.0% cap · market cap 17.43%
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
2,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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 - Renovated duplex with separate residences, owner-occupancy flexibility, and one tenant-occupied unit.
Where is this duplex located?
The property is located at 2215-2217 5th Ave Troy, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,392‑square‑foot side‑by‑side duplex at 2215‑2217 5th Ave, Troy, NY 12180; Renovated in 2020; Larger residence includes 4 bedrooms and 2 full bathrooms
