Two-Unit
New
For Sale
$265,000
1540 8th Avenue, Watervliet, NY 12189
MultiFamily, Watervliet, NY
Property Size2,231 SF
Lot Size0.06 Acres
Price / SF$118.78
Days on Market4
Property Features for 1540 8th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5
Parking
4
Fencing
Chain Link
Basement
Apartment, Partial
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
From I-787, take Exit 7 toward Watervliet, merge onto NY-32 (Broadway) and continue north, then turn left onto 8th Ave where the property will be on your right.
Standard status
Active
APN
011800 32.66-4-4
Size
2,231 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5461
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Electric (Heating)
Water source
Public
Amenities
private backyard
Building Details
Year built
1970
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Abigail Curtiss · License #10401362361
(518) 653-1898
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 2 at 12:06AM
MLS# 202627155
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 2,231-square-foot duplex contains two apartments: a three-bedroom unit on the upper level and a two-bedroom unit on the first floor. The upper apartment has access to a private backyard. Both residences are vacant. Built in 1970, the property has vinyl siding, a shingle roof, and chain-link fencing on a 0.06-acre lot.
The building is at 1540 8th Avenue in Watervliet, New York. Public water and sewer serve the property, and the listed heating types are electric and hot water.
The building is at 1540 8th Avenue in Watervliet, New York. Public water and sewer serve the property, and the listed heating types are electric and hot water.
Key Highlights
- Two apartments: three bedrooms upstairs and two bedrooms on the first floor
- 2,231 square feet on a 0.06‑acre lot
- Upper‑level apartment includes 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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Open Analytics
Current Use
Lease Details
2
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments provide three-bedroom and two-bedroom layouts, with a private backyard serving the upper residence.
Where is this duplex located?
The property is located at 1540 8th Avenue 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: Two apartments: three bedrooms upstairs and two bedrooms on the first floor; 2,231 square feet on a 0.06‑acre lot; Upper‑level apartment includes a private backyard
