Two-Unit
New
For Sale
$265,000
1540 8th Ave, Watervliet, NY 12189
The two apartments are currently vacant, with a three-bedroom layout upstairs and a two-bedroom layout on the first floor.
Property Size2,231 SF
Price / SF$118.78
Days on Market3
Property Features for 1540 8th Ave
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
minimal upkeep needed
Amenities
private backyard
Building Details
Year Built
1970
Tenancy
Multi
Listing Agency:
Monticello
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 11:28AM
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 Monticello
Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains 2,231 square feet across two apartments. The upper unit has three bedrooms and access to a private backyard; the first-floor unit has two bedrooms. Both apartments are currently unoccupied.
Key Highlights
- 2,231‑square‑foot duplex built in 1970
- Two apartments: three bedrooms upstairs and two bedrooms on the first floor
- Upper apartment includes access to a private backyard
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
$23,830
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
8.99%
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%
$476,600
$476.6K
Cap Rate 7%
$340,429
$340.4K
Cap Rate 9%
$264,778
$264.8K
Market Conditions
NOI Build-Up for 2,231 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
$45.5K $20.40/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$43.3K $19.42/SF
− OpEx
−$19.5K −$8.74/SF
NOI
$23.8K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$476,600
Cap Rate 7%
$340,429
Cap Rate 9%
$264,778
Alternative Uses
Best Use
Multifamily LT 5
$368.0K
$322.0K – $429.4K
NOI $25,761 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$340.4K
$297.9K – $397.2K
NOI $23,830 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$696.2K
$609.2K – $812.2K
NOI $48,732 @ 7.0% cap · market cap 18.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The two apartments are currently vacant, with a three-bedroom layout upstairs and a two-bedroom layout on the first floor.
Where is this duplex located?
The property is located at 1540 8th Ave Watervliet, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,231‑square‑foot duplex built in 1970; Two apartments: three bedrooms upstairs and two bedrooms on the first floor; Upper apartment includes access to a private backyard
