Three-Unit Residential Income
1453 1st Street Rensselaer, NY 12144
New
MULTI_FAMILY - Other - Rensselaer, NY
Property size:
2,175 SFLot size:
0.09 AcresPrice / SF:
$149/SF- Added:
- Jul 9, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 10 at 9:06 am
Property Features for 1453 1st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 2, Bathroom 1
- Basement
- Finished, Apartment
- Standard status
- Active
- APN
- 381400 144.21-3-6
- Size
- 2,175 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6000
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 3
- Building materials
- Vinyl Siding
- Roof type
- Rubber
- Architectural style
- Other
Listing agent Thaddeus Jones License #10301220962 (518) 681-1836
Listing office KW Platform 935 New Loudon Rd, Latham, NY (518) 724-5800
Listing date Jul 9, 2026
MLS# 202621433
Listing URL
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.
This three-unit residential income property includes a basement apartment and two upper units, totaling 9 bedrooms and 3 full bathrooms. All three units are currently occupied under annual leases, creating an in-place rental arrangement. The building’s configuration supports a mix of separate living spaces within one property, with each unit independently generating rent.
The property is located at 1453 1st Street in Rensselaer, New York 12144. The lot size is listed at 0.09 acres and the total property size is 2,175 square feet. Tenants pay their own separate utilities, which can help keep operating expenses more predictable for an owner.
For buyers looking for a small multifamily hold, this asset provides three distinct rental units within a single structure, with stated rents of $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 combination of occupied units, separate utility responsibility, and an annual lease structure may appeal to investors and owner-operators seeking manageable complexity in a three-unit format.
The property is located at 1453 1st Street in Rensselaer, New York 12144. The lot size is listed at 0.09 acres and the total property size is 2,175 square feet. Tenants pay their own separate utilities, which can help keep operating expenses more predictable for an owner.
For buyers looking for a small multifamily hold, this asset provides three distinct rental units within a single structure, with stated rents of $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 combination of occupied units, separate utility responsibility, and an annual lease structure may appeal to investors and owner-operators seeking manageable complexity in a three-unit format.
Key Highlights
- 3‑unit property with 9 bedrooms and 3 full bathrooms
- All units occupied on annual leases
- Total gross monthly rental income of $3,800 ($1,000/month basement apartment; $1,400/month for each upper unit)
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
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-contained three-unit setup with annual leases and separate utilities paid by tenants.
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 property with 9 bedrooms and 3 full bathrooms; All units occupied on annual leases; Total gross monthly rental income of $3,800 ($1,000/month basement apartment; $1,400/month for each upper unit)
