Renovated Two-Family
New
For Sale
$329,000
17 Glen Ave, Watervliet, NY 12189
Both units include two bedrooms, a full bath, and a flexible bonus room.
Property Size2,544 SF
Price / SF$129.32
Days on Market3
Property Features for 17 Glen Ave
General Information
Standard status
Active
Size
2,544 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
decks
Building Details
Year Built
1859
Listing Agency:
518 Realty.Com Inc
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 15 at 7:41AM
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 518 Realty.Com Inc
Investment Insights
Based on property information with market context.
This 2,544-square-foot duplex contains two residential units, each with 2 bedrooms, 1 full bathroom, and an additional bonus room suited to office, den, playroom, or sleeping use. The property was renovated with remodeled kitchens and bathrooms, new appliances, updated finishes, new hot water boilers, and new hot water tanks. Newer decks add outdoor space for each unit.
Built in 1859, the property sits on a double lot at 17 Glen Ave in Watervliet, NY 12189. The rear portion of the lot offers room for possible off-street parking, landscaping, outdoor use, or additional improvements. The two-unit configuration supports owner occupancy, rental use, or multigenerational living.
Built in 1859, the property sits on a double lot at 17 Glen Ave in Watervliet, NY 12189. The rear portion of the lot offers room for possible off-street parking, landscaping, outdoor use, or additional improvements. The two-unit configuration supports owner occupancy, rental use, or multigenerational living.
Key Highlights
- 2,544‑square‑foot duplex with two residential units
- Each unit has 2 bedrooms, 1 full bathroom, and a bonus room
- Remodeled kitchens and bathrooms with new appliances
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
$29,375
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
8.93%
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%
$587,500
$587.5K
Cap Rate 7%
$419,643
$419.6K
Cap Rate 9%
$326,389
$326.4K
Market Conditions
NOI Build-Up for 2,544 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
$44.3K $17.40/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$42.0K $16.50/SF
− OpEx
−$12.6K −$4.95/SF
NOI
$29.4K $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%
$587,500
Cap Rate 7%
$419,643
Cap Rate 9%
$326,389
Alternative Uses
Best Use
Multifamily LT 5
$419.6K
$367.2K – $489.6K
NOI $29,375 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$388.2K
$339.7K – $452.9K
NOI $27,174 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$793.8K
$694.6K – $926.2K
NOI $55,569 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
275
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both units include two bedrooms, a full bath, and a flexible bonus room.
Where is this duplex located?
The property is located at 17 Glen Ave Watervliet, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,544‑square‑foot duplex with two residential units; Each unit has 2 bedrooms, 1 full bathroom, and a bonus room; Remodeled kitchens and bathrooms with new appliances
