Multi-Building Duplex
New
For Sale
$999,900
14 Chatham St, Nassau, NY 12123
Four buildings combine stacked and side-by-side layouts, with recent exterior work and interior updates across most units.
Property Size6,558 SF
Price / SF$152.47
Days on Market2
Property Features for 14 Chatham St
General Information
Standard status
Active
Size
6,558 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Mcdonald Real Estate Comp LLC
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 30
Last Checked: Oct 1 at 11:06AM
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 Mcdonald Real Estate Comp LLC
Investment Insights
Based on property information with market context.
This duplex property comprises four buildings on a one-acre lot: two with up-and-down layouts and two with side-by-side units. All eight units are rented. Six have received interior renovations that include kitchens, bathrooms, appliances, lighting, water heaters, vinyl plank flooring, and paint. Recent exterior work includes siding on all buildings, roof work, and four new electric services. The property dates to 1900.
Village-approved plans and permits cover conversion of the garage into two two-bedroom apartments, with county-approved septic plans. Separate septic plans could support converting the unfinished basement into another two-bedroom apartment, subject to town approval. The lot runs from Chatham Street to Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants nearby. East Greenbush is 10 minutes away; Rensselaer and downtown Albany are 20 minutes away.
Village-approved plans and permits cover conversion of the garage into two two-bedroom apartments, with county-approved septic plans. Separate septic plans could support converting the unfinished basement into another two-bedroom apartment, subject to town approval. The lot runs from Chatham Street to Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants nearby. East Greenbush is 10 minutes away; Rensselaer and downtown Albany are 20 minutes away.
Key Highlights
- Eight rented units across four buildings
- One‑acre lot extending from Chatham Street to Johns Street
- Two up‑and‑down duplexes and two side‑by‑side duplexes
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
$85,895
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
8.59%
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%
$1,717,900
$1.7M
Cap Rate 7%
$1,227,071
$1.2M
Cap Rate 9%
$954,389
$954.4K
Market Conditions
NOI Build-Up for 6,558 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
$129.8K $19.80/SF
− Vacancy
−$7.1K −$1.09/SF
EGI
$122.7K $18.71/SF
− OpEx
−$36.8K −$5.61/SF
NOI
$85.9K $13.10/SF
Area
Rensselaer County, NY
Vacancy
5.50%
Lease Rate
$19.80 /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%
$1,717,900
Cap Rate 7%
$1,227,071
Cap Rate 9%
$954,389
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,895 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$1.14M
$995.0K – $1.33M
NOI $79,602 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,758 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 12123, NY
5,096
Population
2,346
Households
2.2
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
31.8 sq mi
ZIP Area
160
Density / Sq Mi
$104,438
Median Household Income
$54,646
Median Earnings
$959
Median Rent
$275,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Four buildings combine stacked and side-by-side layouts, with recent exterior work and interior updates across most units.
Where is this duplex located?
The property is located at 14 Chatham St Nassau, NY.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Eight rented units across four buildings; One‑acre lot extending from Chatham Street to Johns Street; Two up‑and‑down duplexes and two side‑by‑side duplexes
