Updated Duplex with Double
New
For Sale
$374,900
155 Maple Avenue, Ballston Spa, NY 12020
Two separately metered units include private laundry hookups, refreshed interiors, and access to a full basement.
Property Size2,286 SF
Price / SF$163
Days on Market2
Property Features for 155 Maple Avenue
General Information
Standard status
Active
Size
2,286 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
full basement
in-unit laundry hookups
privacy fence
side porch
gravel driveway
crushed stone paths
landscaping
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Fortune Realty Group LLC
Listed By:
Sherry Valachovic · License #24948
(518) 785-9900
Source:
Signatureonerealtygroup
Added: Sep 1
Last Checked: Sep 1 at 6:23PM
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 Fortune Realty Group LLC
Investment Insights
Based on property information with market context.
This two-unit property contains 9 total rooms, 4 bedrooms, and 2 full bathrooms, with each residence arranged as 2 bedrooms and 1 bathroom. Both units have dedicated laundry hookups, separate gas and electric meters, new plumbing serving kitchen and bathroom sinks, updated flooring, and new molding. The lower apartment also has a new kitchen and bathroom, while the upper apartment includes a new bathroom and refinished kitchen cabinetry.
The property occupies a double lot with a substantial side yard extending to a natural bluff above Kayaderosseras Creek. Improvements include a new side porch, gutters, gravel driveway, crushed-stone walkways, landscaping, and a privacy fence along the side boundary. A full basement provides additional storage and includes repaired and updated plumbing lines.
Located at 155 Maple Avenue in Ballston Spa, the home is within the approved mileage boundaries for local military housing and is described as minutes from downtown shopping, dining, and Saratoga Springs.
The property occupies a double lot with a substantial side yard extending to a natural bluff above Kayaderosseras Creek. Improvements include a new side porch, gutters, gravel driveway, crushed-stone walkways, landscaping, and a privacy fence along the side boundary. A full basement provides additional storage and includes repaired and updated plumbing lines.
Located at 155 Maple Avenue in Ballston Spa, the home is within the approved mileage boundaries for local military housing and is described as minutes from downtown shopping, dining, and Saratoga Springs.
Key Highlights
- Two‑family duplex with 9 total rooms, 4 bedrooms, and 2 full bathrooms
- Each unit includes 2 bedrooms and 1 bathroom
- Double lot with side yard ending at a natural privacy bluff overlooking Kayaderosseras Creek
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
$33,926
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
9.05%
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%
$678,520
$678.5K
Cap Rate 7%
$484,657
$484.7K
Cap Rate 9%
$376,956
$377.0K
Market Conditions
NOI Build-Up for 2,286 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
$50.7K $22.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$48.5K $21.20/SF
− OpEx
−$14.5K −$6.36/SF
NOI
$33.9K $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%
$678,520
Cap Rate 7%
$484,657
Cap Rate 9%
$376,956
Alternative Uses
Best Use
Multifamily LT 5
$484.7K
$424.1K – $565.4K
NOI $33,926 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$433.6K
$379.4K – $505.9K
NOI $30,353 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$684.2K
$598.7K – $798.3K
NOI $47,896 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
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 separately metered units include private laundry hookups, refreshed interiors, and access to a full basement.
Where is this duplex located?
The property is located at 155 Maple Avenue Ballston Spa, NY.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two‑family duplex with 9 total rooms, 4 bedrooms, and 2 full bathrooms; Each unit includes 2 bedrooms and 1 bathroom; Double lot with side yard ending at a natural privacy bluff overlooking Kayaderosseras Creek
