Duplex with Fenced
For Sale
$178,000
167 Paine Street, Green Island, NY 12183
Newer flooring, fresh paint, and a fenced backyard add practical appeal to this two-family property.
Property Size1,468 SF
Price / SF$121.25
Days on Market113
Property Features for 167 Paine Street
General Information
Standard status
Active
Size
1,468 SF
Property subtype
Multi Family / Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,624
Amenities
washer/dryer hookups
fenced-in backyard
Asphalt
None, No
Electric, Natural Gas, Yes
Bilco Doors, Unfinished
True
Vinyl, Laminate
Paddle Fan
Block
Aluminum Siding, Vinyl Siding
Back Yard, Fenced
Electric Dryer Hookup, Washer Hookup
Building Details
Year Built
1920
Listing Agency:
Howard Hanna Capital Inc
(518) 221-4052
Listed By:
Nicole Wilkie · License #10301223997
(518) 221-4052
Source:
Compass
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 8:35PM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This two-family property contains 6 bedrooms and 2 full bathrooms across approximately 1,468 square feet of living space. Interior improvements include newer flooring and fresh paint throughout, while the roof is approximately 2 years old. One unit includes washer and dryer hookups. The fenced backyard provides defined outdoor space, and the property was built in 1920.
Located at 167 Paine Street in Green Island, the property is near a corner store, a town park with basketball courts, bus service, and major roadways. Downtown Troy is just minutes away, placing the property within reach of additional urban amenities.
Located at 167 Paine Street in Green Island, the property is near a corner store, a town park with basketball courts, bus service, and major roadways. Downtown Troy is just minutes away, placing the property within reach of additional urban amenities.
Key Highlights
- Two‑family property with 6 bedrooms and 2 full bathrooms
- Approximately 1,468 sq. ft. of living space
- Newer flooring and fresh paint throughout
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
$15,680
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
8.81%
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%
$313,600
$313.6K
Cap Rate 7%
$224,000
$224.0K
Cap Rate 9%
$174,222
$174.2K
Market Conditions
NOI Build-Up for 1,468 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
$29.9K $20.40/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$28.5K $19.42/SF
− OpEx
−$12.8K −$8.74/SF
NOI
$15.7K $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%
$313,600
Cap Rate 7%
$224,000
Cap Rate 9%
$174,222
Alternative Uses
Best Use
Multifamily LT 5
$242.1K
$211.9K – $282.5K
NOI $16,950 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$224.0K
$196.0K – $261.3K
NOI $15,680 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$458.1K
$400.8K – $534.4K
NOI $32,066 @ 7.0% cap · market cap 18.01%
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
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 12183, NY
2,934
Population
1,758
Households
1.7
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
4,191
Density / Sq Mi
$70,281
Median Household Income
$47,245
Median Earnings
$1,081
Median Rent
$137,300
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 - Newer flooring, fresh paint, and a fenced backyard add practical appeal to this two-family property.
Where is this duplex located?
The property is located at 167 Paine Street Green Island, NY.
What is the asking price?
The asking price for this property is $178,000.
What are key features of this property?
This property features: Two‑family property with 6 bedrooms and 2 full bathrooms; Approximately 1,468 sq. ft. of living space; Newer flooring and fresh paint throughout
