Fully Renovated Multi-Family with
For Sale
$490,000
1427 4TH Avenue, Watervliet, NY 12189
Studs-up renovation with updated electrical, in-unit washer hookups, and a spacious deck plus a detached residential unit.
Property Size4,204 SF
Price / SF$116.56
Days on Market107
Property Features for 1427 4TH Avenue
General Information
Standard status
Active
Size
4,204 SF
Property subtype
Multi-family
Building Details
Year Built
1962
Listing Agency:
KW Platform
Listed By:
Nathaniel Torres
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 2
Changed: Aug 15
Last Checked: Aug 15 at 12:17PM
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 fully renovated multi-family property has been completely rebuilt from the studs up. The interior features modern finishes with updated electrical throughout. Each unit includes washer hookups, and the sale includes appliances for added day-to-day convenience. Bathrooms are finished with Italian marble tilework, and the home offers outdoor living with a spacious deck.
The property is located conveniently near the public pool and downtown Watervliet, with Latham shopping and dining just minutes away, along with access to major routes.
The layout supports flexible occupancy options, whether you are looking to owner-occupy while renting, or operate the home as a residential investment. In addition to the main multi-family building, the lot also includes an additional detached residential unit, providing extra space for rental income or alternative household use. The overall condition is turn-key in that it has been renovated and outfitted for immediate occupancy, with in-unit laundry hookups and included appliances reducing upfront downtime for both owners and tenants.
The property is located conveniently near the public pool and downtown Watervliet, with Latham shopping and dining just minutes away, along with access to major routes.
The layout supports flexible occupancy options, whether you are looking to owner-occupy while renting, or operate the home as a residential investment. In addition to the main multi-family building, the lot also includes an additional detached residential unit, providing extra space for rental income or alternative household use. The overall condition is turn-key in that it has been renovated and outfitted for immediate occupancy, with in-unit laundry hookups and included appliances reducing upfront downtime for both owners and tenants.
Key Highlights
- Fully renovated multi‑family property rebuilt from the studs up with updated electrical
- Year built 1962; modern finishes throughout
- Each unit includes washer hookups and the sale includes appliances
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
$44,905
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
9.16%
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%
$898,100
$898.1K
Cap Rate 7%
$641,500
$641.5K
Cap Rate 9%
$498,944
$498.9K
Market Conditions
NOI Build-Up for 4,204 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
$85.8K $20.40/SF
− Vacancy
−$4.1K −$0.98/SF
EGI
$81.6K $19.42/SF
− OpEx
−$36.7K −$8.74/SF
NOI
$44.9K $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%
$898,100
Cap Rate 7%
$641,500
Cap Rate 9%
$498,944
Alternative Uses
Best Use
Apartment 5plus
$641.5K
$561.3K – $748.4K
NOI $44,905 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,828 @ 7.0% cap · market cap 18.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
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?
Multifamily property - Studs-up renovation with updated electrical, in-unit washer hookups, and a spacious deck plus a detached residential unit.
Where is this multifamily property located?
The property is located at 1427 4TH Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Fully renovated multi‑family property rebuilt from the studs up with updated electrical; Year built 1962; modern finishes throughout; Each unit includes washer hookups and the sale includes appliances
