Eight-Unit Multifamily
New
For Sale
$999,900
14 Chatham Street, Nassau, NY 12123
MultiFamily, Nassau, NY
Property Size6,558 SF
Lot Size1.00 Acre
Price / SF$152.47
Days on Market3
Property Features for 14 Chatham Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Multi Residence
Bedrooms
16
Bathrooms
9
Full bathrooms
8
Half bathrooms
1
Rooms
Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 7, Bedroom 4, Bedroom 5, Bedroom 16, Bathroom 9, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 11, Bathroom 5, Bedroom 15, Bedroom 14, Bedroom 12, Bedroom 1, Bedroom 10, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 9, Bathroom 6, Bedroom 13, Bathroom 8
Parking
20
Parking features
Off Street
Window features
Screens, Insulated Windows
Patio and Porch features
Porch
Interior features
Paddle Fan, High Speed Internet
Fencing
Perimeter
Basement
Full, Unfinished
Lot features
Level, Road Frontage, Cleared, Irregular Lot
High school
Columbia
Elementary school district
East Greenbush
Middle school district
East Greenbush
High school district
East Greenbush
Directions
Route 9 & 20 into village of Nassau. Right on Chatham Street at light. Property is 2 buildings down from Cumberland Farms store.
Standard status
Active
APN
383001 211.12-6-11
Size
6,558 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Annual Amount
8200
Utilities
Utilities
Cable Available
Sewer type
Shared Septic
Heating system
Electric (Heating), Baseboard, Oil, Forced Air
Water source
Public
Building Details
Year built
1900
Number of units
8
Flooring type
Laminate, Vinyl, Carpet, Linoleum
Building materials
Stone, Block, Drywall, Vinyl Siding
Roof type
Asphalt, Rolled Hot Mop, Metal, Shingle
Architectural style
Ranch
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 758-1300
Listed By:
Karen R Westman · License #30WE1064299
(518) 366-7788
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 6:06PM
MLS# 202627171
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 6,558-square-foot property contains eight rented units across four buildings on a one-acre lot. Its configuration includes two up-and-down duplexes and two side-by-side duplexes. Six units have updated kitchens, baths, appliances, lighting, water heaters, flooring, and paint. Improvements also include new siding, new or recoated roofs, and four new electric services. The property was built in 1900 and is zoned Multi Residence.
Approved village plans and permits provide for converting the garage into two two-bedroom apartments, with county-approved septic plans. Additional septic plans address a potential two-bedroom apartment in the unfinished basement; that conversion remains subject to town approval. The parcel runs between Chatham Street and Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants nearby. East Greenbush is a 10-minute drive, while Rensselaer and downtown Albany are 20 minutes away.
Approved village plans and permits provide for converting the garage into two two-bedroom apartments, with county-approved septic plans. Additional septic plans address a potential two-bedroom apartment in the unfinished basement; that conversion remains subject to town approval. The parcel runs between Chatham Street and Johns Street, with the Rail Trail near the rear entrance and village shops and restaurants nearby. East Greenbush is a 10-minute drive, while Rensselaer and downtown Albany are 20 minutes away.
Key Highlights
- Eight rented units in four buildings on a 1‑acre lot
- 6,558 square feet; two up‑and‑down duplexes and two side‑by‑side duplexes
- Six units updated; new siding, new or recoated roofs, and four new electric services
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
$79,602
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
7.96%
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%
$1,592,040
$1.6M
Cap Rate 7%
$1,137,171
$1.1M
Cap Rate 9%
$884,467
$884.5K
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
$152.7K $23.28/SF
− Vacancy
−$7.9K −$1.21/SF
EGI
$144.7K $22.07/SF
− OpEx
−$65.1K −$9.93/SF
NOI
$79.6K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /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%
$1,592,040
Cap Rate 7%
$1,137,171
Cap Rate 9%
$884,467
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$995.0K – $1.33M
NOI $79,602 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
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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Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
140
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four buildings include a mix of up-and-down and side-by-side duplex layouts, with recent exterior and interior upgrades.
Where is this multifamily property located?
The property is located at 14 Chatham Street 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 in four buildings on a 1‑acre lot; 6,558 square feet; two up‑and‑down duplexes and two side‑by‑side duplexes; Six units updated; new siding, new or recoated roofs, and four new electric services
