Remodeled Two-Family
New
For Sale
$274,900
1627 9th Avenue, Watervliet, NY 12189
MULTI_FAMILY - Other - Watervliet, NY
Property Size2,052 SF
Lot Size0.13 Acres
Price / SF$133.97
Days on Market1
Property Features for 1627 9th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bathroom 2
Parking features
Garage, Off Street
Window features
Double Pane Windows
Patio and Porch features
Porch
Fencing
Perimeter, Chain Link
Basement
Unfinished, Full
Lot features
Level, Cleared
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
From 787-23rd St Watervliet exit, left onto 23rd, left on 5th Ave, right onto 19th St, left on 9th Ave.
Standard status
Active
APN
011800 32.66-1-3
Size
2,052 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
5564
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Carpet, Hardwood, Laminate
Building materials
Vinyl Siding
Roof type
Rubber
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Christopher McCabe · License #40MC1144610
(518) 378-8756
Added: Aug 11
Last Checked: Aug 11 at 7:06PM
MLS# 202623717
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 1910 duplex contains two residential units within 2,052 square feet, with six bedrooms and two full bathrooms overall. Both units include an eat-in kitchen, living room, dining room, and three bedrooms. Original woodwork, hardwood and laminate flooring, carpet, forced-air natural gas heat, and vinyl siding provide a mix of historic character and practical finishes.
The upper unit has been remodeled and is vacant, with an enclosed front porch. Recent property work includes roof resealing and chimney rebuilding. The 0.13-acre double lot adds a side yard and outdoor space, while parking is available through a garage and off-street areas. Public water and public sewer serve the property. The address is in Watervliet, near parks, schools, shopping, restaurants, and public transportation, with access to Troy and Albany.
The upper unit has been remodeled and is vacant, with an enclosed front porch. Recent property work includes roof resealing and chimney rebuilding. The 0.13-acre double lot adds a side yard and outdoor space, while parking is available through a garage and off-street areas. Public water and public sewer serve the property. The address is in Watervliet, near parks, schools, shopping, restaurants, and public transportation, with access to Troy and Albany.
Key Highlights
- 2,052 square feet with 6 bedrooms and 2 full bathrooms
- Two units, each with an eat‑in kitchen, living room, dining room, and 3 bedrooms
- Remodeled second‑floor unit is vacant and includes an enclosed front porch
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
$23,694
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
8.62%
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%
$473,880
$473.9K
Cap Rate 7%
$338,486
$338.5K
Cap Rate 9%
$263,267
$263.3K
Market Conditions
NOI Build-Up for 2,052 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
$35.7K $17.40/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$33.8K $16.50/SF
− OpEx
−$10.2K −$4.95/SF
NOI
$23.7K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /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%
$473,880
Cap Rate 7%
$338,486
Cap Rate 9%
$263,267
Alternative Uses
Best Use
Multifamily LT 5
$338.5K
$296.2K – $394.9K
NOI $23,694 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,918 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$640.3K
$560.3K – $747.0K
NOI $44,822 @ 7.0% cap · market cap 16.30%
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
418
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
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 feature three-bedroom layouts, separate utilities, and a recently updated second-floor residence.
Where is this duplex located?
The property is located at 1627 9th Avenue Watervliet, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 2,052 square feet with 6 bedrooms and 2 full bathrooms; Two units, each with an eat‑in kitchen, living room, dining room, and 3 bedrooms; Remodeled second‑floor unit is vacant and includes an enclosed front porch
