Victorian Duplex With Flexible
For Sale
$775,000
Pending
145 Church Street, Saratoga Springs, NY 12866
Residential Income, Saratoga Springs Inside, NY
Property Size3,405 SF
Lot Size0.07 Acres
Days on Market14
Property Features for 145 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Parking features
Driveway
Patio and Porch features
Porch
High school district
000000
Directions
From Broadway Take Church street west 4 blocks. house on Right.
Standard status
Pending
APN
411501 165.50-2-2
Size
3,405 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6627
Utilities
Heating system
Zoned, Forced Air
Water source
Public
Amenities
custom gas fireplace
spa tubs
Central AC
Furnaces
Full kitchens
laundries
brick patio
wrap around porch
bow windows
Building Details
Year built
1897
Number of units
2
Flooring type
Tile, Granite, Hardwood
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Leslie Warner-Rafaniello
(518) 348-2060
Added: Sep 2
Changed: Sep 14
Last Checked: Sep 15 at 5:06AM
MLS# 11964039
Copyright © 2026 My State MLS. 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.
Built in 1897, this Victorian two-family property offers 3,405 square feet of living area within a connected layout. The home includes two full kitchens, two laundries, two furnaces, two central AC systems, and two spa tubs. Two staircases allow the interior to operate as separate residences or as one larger home, with multiple configurations for private suites and shared living. Interior finishes include hardwood, tile, and granite, while a brick patio and wraparound porch provide outdoor gathering areas.
The property sits on a 0.07-acre lot at 145 Church Street in Saratoga Springs Inside, with shops, groceries, restaurants, nightlife, and the Saratoga Race Course described as steps away. Three off-street parking spaces are provided through the driveway. Public water, asphalt roofing, wood siding, forced-air heating, and zoned heating complete the property profile.
The property sits on a 0.07-acre lot at 145 Church Street in Saratoga Springs Inside, with shops, groceries, restaurants, nightlife, and the Saratoga Race Course described as steps away. Three off-street parking spaces are provided through the driveway. Public water, asphalt roofing, wood siding, forced-air heating, and zoned heating complete the property profile.
Key Highlights
- Official two‑family property with 3,405 square feet of living area
- Flexible interior arrangement with two staircases and up to four configurations
- Two full kitchens, two laundries, two furnaces, and two central AC systems
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
$50,533
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
6.52%
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%
$1,010,660
$1.0M
Cap Rate 7%
$721,900
$721.9K
Cap Rate 9%
$561,478
$561.5K
Market Conditions
NOI Build-Up for 3,405 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
$75.6K $22.20/SF
− Vacancy
−$3.4K −$1.00/SF
EGI
$72.2K $21.20/SF
− OpEx
−$21.7K −$6.36/SF
NOI
$50.5K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$1,010,660
Cap Rate 7%
$721,900
Cap Rate 9%
$561,478
Alternative Uses
Best Use
Multifamily LT 5
$721.9K
$631.7K – $842.2K
NOI $50,533 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$645.9K
$565.1K – $753.5K
NOI $45,211 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.02M
$891.8K – $1.19M
NOI $71,342 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,497
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two connected living areas support owner occupancy, rental use, or multigenerational living near downtown amenities.
Where is this duplex located?
The property is located at 145 Church Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Official two‑family property with 3,405 square feet of living area; Flexible interior arrangement with two staircases and up to four configurations; Two full kitchens, two laundries, two furnaces, and two central AC systems
