Three-Unit Residential Income
1453 1ST Street Rensselaer, NY 12144
1453 1ST Street, Rensselaer, NY, 12144
$325,000
For Sale
$325,000
Three occupied residential units with a basement apartment and two upper units generating monthly rental income.
Property Size2,175 SF
Price / SF$149.43
Days on Market22
Property Features for 1453 1ST Street
General Information
- Standard status
- Active
- Size
- 2,175 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
KW Platform
Listed by
Thaddeus Jones
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jun 30 Updated: Jul 21 at 12:49PM Checked: Jul 21 at 12:49PM
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 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
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.1k | $19.80 |
| − Vacancy | −$2.4k | −$1.09 |
| EGI | $40.7k | $18.71 |
| − OpEx | −$12.2k | −$5.61 |
| NOI | $28.5k | $13.10 |
2,175 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$407.0K
$356.1K – $474.8K
NOI $28,487 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$377.2K
$330.0K – $440.0K
NOI $26,401 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$543.7K
$475.8K – $634.3K
NOI $38,060 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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 $325,000.
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
