Updated Duplex with Detached
For Sale
$269,000
16 Montcalm Street, Glens Falls, NY 12801
Two residential units offer separate front and rear access, plus shared basement and outdoor space.
Property Size2,049 SF
Price / SF$131.28
Days on Market19
Property Features for 16 Montcalm Street
General Information
Standard status
Active
Size
2,049 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Additional Details
Average Monthly Rent
$1,400
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,617
Amenities
private entrances
private backyard
large basement
Building Details
Year Built
1889
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 307-1546
Listed By:
Jeffrey D Andre · License #10301218004
(518) 307-1546
Source:
Capmarkrealty
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 30 at 1:40PM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
This duplex contains two updated residential units, with the upper apartment currently vacant. Each unit has its own front and rear entrance, supporting distinct access for occupants. Additional improvements include a detached two-car garage, a private backyard, and a sizable basement that provides supplemental space.
The property is within walking distance of schools and a playground in Glens Falls. Exterior pressure washing was completed on 04/30/26. The lower apartment is occupied, and the current resident has indicated a desire to remain in the property.
The property is within walking distance of schools and a playground in Glens Falls. Exterior pressure washing was completed on 04/30/26. The lower apartment is occupied, and the current resident has indicated a desire to remain in the property.
Key Highlights
- Duplex with two residential units and 2,049 property size
- Both units recently updated; upper apartment is vacant
- Private front and rear entrances serve 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
$18,728
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
6.96%
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%
$374,560
$374.6K
Cap Rate 7%
$267,543
$267.5K
Cap Rate 9%
$208,089
$208.1K
Market Conditions
NOI Build-Up for 2,049 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
$28.8K $14.04/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$26.8K $13.06/SF
− OpEx
−$8.0K −$3.92/SF
NOI
$18.7K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /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%
$374,560
Cap Rate 7%
$267,543
Cap Rate 9%
$208,089
Alternative Uses
Best Use
Multifamily LT 5
$267.5K
$234.1K – $312.1K
NOI $18,728 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$244.1K
$213.6K – $284.8K
NOI $17,087 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$613.3K
$536.6K – $715.5K
NOI $42,931 @ 7.0% cap · market cap 15.96%
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
1,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
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 residential units offer separate front and rear access, plus shared basement and outdoor space.
Where is this duplex located?
The property is located at 16 Montcalm Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Duplex with two residential units and 2,049 property size; Both units recently updated; upper apartment is vacant; Private front and rear entrances serve each unit
