Well-Maintained Two-Unit
For Sale
$775,000
154 Washington Street, Saratoga Springs, NY 12866
Two-unit building with one 3-bedroom and one 2-bedroom unit, maintained for straightforward residential income.
Property Size2,600 SF
Price / SF$298.08
Days on Market302
Property Features for 154 Washington Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1875
Listing Agency:
Julie & Co Realty LLC
Listed By:
Lars Huus-Skladzinski
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Nov 5, 2025
Changed: Sep 2
Last Checked: Sep 1 at 8:39PM
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 Julie & Co Realty LLC
Investment Insights
Based on property information with market context.
This well-maintained two-unit multifamily property offers a simple, functional layout for residential income. The building includes two spacious units: one with three bedrooms and the other with two bedrooms.
The property is located at 154 Washington Street in Saratoga Springs, NY 12866, a few blocks from Broadway. A park is listed as being about one block away, supporting day-to-day neighborhood convenience.
Overall, the configuration is well suited to an owner looking for a two-unit investment with a clear unit mix of three-bedroom and two-bedroom living spaces.
The property is located at 154 Washington Street in Saratoga Springs, NY 12866, a few blocks from Broadway. A park is listed as being about one block away, supporting day-to-day neighborhood convenience.
Overall, the configuration is well suited to an owner looking for a two-unit investment with a clear unit mix of three-bedroom and two-bedroom living spaces.
Key Highlights
- Two‑unit multifamily building built in 1875
- One 3‑bedroom unit and one 2‑bedroom unit
- Well‑maintained for straightforward residential income
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
$38,586
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
4.98%
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%
$771,720
$771.7K
Cap Rate 7%
$551,229
$551.2K
Cap Rate 9%
$428,733
$428.7K
Market Conditions
NOI Build-Up for 2,600 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
$57.7K $22.20/SF
− Vacancy
−$2.6K −$1.00/SF
EGI
$55.1K $21.20/SF
− OpEx
−$16.5K −$6.36/SF
NOI
$38.6K $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%
$771,720
Cap Rate 7%
$551,229
Cap Rate 9%
$428,733
Alternative Uses
Best Use
Multifamily LT 5
$551.2K
$482.3K – $643.1K
NOI $38,586 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$493.2K
$431.5K – $575.4K
NOI $34,522 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$778.2K
$680.9K – $907.9K
NOI $54,475 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,799
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
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-unit building with one 3-bedroom and one 2-bedroom unit, maintained for straightforward residential income.
Where is this duplex located?
The property is located at 154 Washington 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: Two‑unit multifamily building built in 1875; One 3‑bedroom unit and one 2‑bedroom unit; Well‑maintained for straightforward residential income
