Three-Unit Residential Income
For Sale
$315,000
1453 1ST Street, Rensselaer, NY 12144
Three occupied residential units with a basement apartment and two upper units generating monthly rental income.
Property Size2,175 SF
Price / SF$144.83
Days on Market121
Property Features for 1453 1ST Street
General Information
Standard status
Active
Size
2,175 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
KW Platform
Listed By:
Thaddeus Jones · License #10301220962
(518) 681-1836
Source:
Signatureonerealtygroup
Added: Jun 24
Changed: Oct 21
Last Checked: Oct 20 at 11:28PM
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
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Investment Insights
Based on property information with market context.
This three-unit residential income property includes a basement apartment and two upper units. Across the three units, the property offers a total of 9 bedrooms and 3 full bathrooms. The units are currently occupied on annual leases.
The property is described as having tenants responsible for their own separate utilities, which can help keep operating expenses controlled. Rental income is listed as $1,000 per month for the basement apartment and $1,400 per month for each of the two upper units, for a total gross monthly rental income of $3,800.
The basement unit is configured as a separate apartment, while the two upper units provide additional residential space within the same building.
The property is described as having tenants responsible for their own separate utilities, which can help keep operating expenses controlled. Rental income is listed as $1,000 per month for the basement apartment and $1,400 per month for each of the two upper units, for a total gross monthly rental income of $3,800.
The basement unit is configured as a separate apartment, while the two upper units provide additional residential space within the same building.
Key Highlights
- 3‑unit residential property with all units occupied on annual leases
- 9 bedrooms and 3 full bathrooms across the basement and upper units
- Basement apartment rented for $1,000/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,487
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$569,740
$569.7K
Cap Rate 7%
$406,957
$407.0K
Cap Rate 9%
$316,522
$316.5K
Market Conditions
NOI Build-Up for 2,175 SF
Gross rent
$43.1K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$40.7K $18.71/SF
− OpEx
−$12.2K −$5.61/SF
NOI
$28.5K $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 Rate 5%
$569,740
Cap Rate 7%
$406,957
Cap Rate 9%
$316,522
Alternative Uses
Best Use
Multifamily LT 5
$407.0K
$356.1K – $474.8K
NOI $28,487 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$377.2K
$330.0K – $440.0K
NOI $26,401 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$543.7K
$475.8K – $634.3K
NOI $38,060 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 12144, NY
21,277
Population
10,474
Households
2
Avg Household Size
40
Median Age
38%
College-Educated
93%
High-School Grad
18.3 sq mi
ZIP Area
1,163
Density / Sq Mi
$88,357
Median Household Income
$51,893
Median Earnings
$1,379
Median Rent
$235,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residential units with a basement apartment and two upper units generating monthly rental income.
Where is this triplex located?
The property is located at 1453 1ST Street Rensselaer, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 3‑unit residential property with all units occupied on annual leases; 9 bedrooms and 3 full bathrooms across the basement and upper units; Basement apartment rented for $1,000/month
