Renovated Two-Unit
For Sale
$239,900
1522 7th Avenue, Watervliet, NY 12189
Two one-bedroom apartments feature updated interiors, separate utilities, and current leases.
Property Size1,280 SF
Price / SF$187.42
Days on Market38
Property Features for 1522 7th Avenue
General Information
Standard status
Active
Size
1,280 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
Multi Residence
Taxes and HOA fees
Annual Taxes
$3,000
Building Details
Year Built
1890
Listing Agency:
MLS 4 Less Realty
(518) 925-0230
Listed By:
Josie Reo
(518) 925-0230
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 8:14PM
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 MLS 4 Less Realty
Investment Insights
Based on property information with market context.
This two-family duplex includes two renovated apartments, each configured with 1 bedroom and 1 bath. Both units offer bright living areas, updated kitchens and bathrooms, and separate utility service. The property was built in 1890 and carries Multi Residence zoning.
Both apartments are currently leased, while the upstairs tenancy is scheduled to end at the close of July. That timing provides flexibility for a new owner. The property is located in Watervliet, near shopping, dining, and major highways, with access suited to local commuting.
Both apartments are currently leased, while the upstairs tenancy is scheduled to end at the close of July. That timing provides flexibility for a new owner. The property is located in Watervliet, near shopping, dining, and major highways, with access suited to local commuting.
Key Highlights
- Two‑unit duplex with 1‑bedroom, 1‑bath apartments
- Renovated interiors with updated kitchens and bathrooms
- Separate utilities for each unit
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
$14,780
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
6.16%
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%
$295,600
$295.6K
Cap Rate 7%
$211,143
$211.1K
Cap Rate 9%
$164,222
$164.2K
Market Conditions
NOI Build-Up for 1,280 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
$22.3K $17.40/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$21.1K $16.50/SF
− OpEx
−$6.3K −$4.95/SF
NOI
$14.8K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /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%
$295,600
Cap Rate 7%
$211,143
Cap Rate 9%
$164,222
Alternative Uses
Best Use
Multifamily LT 5
$211.1K
$184.8K – $246.3K
NOI $14,780 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$195.3K
$170.9K – $227.9K
NOI $13,672 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$399.4K
$349.5K – $466.0K
NOI $27,959 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
452
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?
Duplex - Two one-bedroom apartments feature updated interiors, separate utilities, and current leases.
Where is this duplex located?
The property is located at 1522 7th Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex with 1‑bedroom, 1‑bath apartments; Renovated interiors with updated kitchens and bathrooms; Separate utilities for each unit
