Furnished Four-Bedroom
For Sale
$299,900
162 Ridge Street, Glens Falls, NY 12801
MultiFamily, Glens Falls, NY
Property Size1,958 SF
Lot Size0.14 Acres
Price / SF$153.17
Days on Market48
Property Features for 162 Ridge Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking
4
Parking features
Off Street
Patio and Porch features
Porch
Basement
Full, Unfinished
Lot features
Level, Landscaped
High school
Glens Falls
Elementary school district
Glens Falls
Middle school district
Glens Falls
High school district
Glens Falls
Directions
Start in Downtown Glens Falls near Centennial Circle. Head south on Glen Street (US-9). Continue straight for approximately 0.5 miles. Turn right onto Ridge Street. Continue on Ridge Street for about 0.3 miles. 162 Ridge St will be on your right.
Standard status
Active
APN
520500 302.20-11-11
Size
1,958 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
4916
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood
Building materials
Asbestos
Roof type
Slate
Architectural style
Other
Listing Agency:
Revision Real Estate
(518) 438-2221
Listed By:
Jerome P Newkirk · License #10371200504
(518) 229-0366
Added: Jul 23
Changed: Aug 20
Last Checked: Sep 8 at 5:06AM
MLS# 202622508
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 duplex contains 1,958 square feet on a 0.14-acre lot, with four bedrooms and two bathrooms. Built in 1920, the property features hardwood flooring, a slate roof, central air, natural-gas forced-air heating, public water, and public sewer. A porch and off-street parking add to the existing improvements, and the offering is furnished subject to negotiation.
The property has a documented history as a successful Airbnb and is located in Glens Falls, within minutes of downtown restaurants, shops, theaters, and seasonal festivals. Lake George is a short drive away, providing access to boating, hiking, and year-round recreation.
Multi Residence zoning supports the property's duplex classification. The combination of established short-term rental history, furnished availability, and a four-bedroom layout provides a range of residential income and owner-occupant possibilities without requiring additional improvements to the existing feature set.
The property has a documented history as a successful Airbnb and is located in Glens Falls, within minutes of downtown restaurants, shops, theaters, and seasonal festivals. Lake George is a short drive away, providing access to boating, hiking, and year-round recreation.
Multi Residence zoning supports the property's duplex classification. The combination of established short-term rental history, furnished availability, and a four-bedroom layout provides a range of residential income and owner-occupant possibilities without requiring additional improvements to the existing feature set.
Key Highlights
- 1,958‑square‑foot duplex on a 0.14‑acre lot
- Four bedrooms and two bathrooms
- Multi Residence zoning
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
$17,896
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
5.97%
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%
$357,920
$357.9K
Cap Rate 7%
$255,657
$255.7K
Cap Rate 9%
$198,844
$198.8K
Market Conditions
NOI Build-Up for 1,958 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
$27.5K $14.04/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$25.6K $13.06/SF
− OpEx
−$7.7K −$3.92/SF
NOI
$17.9K $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%
$357,920
Cap Rate 7%
$255,657
Cap Rate 9%
$198,844
Alternative Uses
Best Use
Multifamily LT 5
$255.7K
$223.7K – $298.3K
NOI $17,896 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$233.3K
$204.1K – $272.1K
NOI $16,328 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$586.1K
$512.8K – $683.7K
NOI $41,024 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,017
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Multi-residence property with hardwood floors, central air, natural-gas forced-air heat, and off-street parking.
Where is this duplex located?
The property is located at 162 Ridge Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,958‑square‑foot duplex on a 0.14‑acre lot; Four bedrooms and two bathrooms; Multi Residence zoning
