Renovated Duplex with Bonus
New
For Sale
$329,000
17 Glen Avenue, Watervliet, NY 12189
MultiFamily, Watervliet, NY
Property Size2,544 SF
Lot Size0.25 Acres
Price / SF$129.32
Days on Market4
Property Features for 17 Glen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4
Basement
Unfinished
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
Route 2 West towards Latham, right on 10th Ave (Just past Bobs Diner), turn left on Glen Ave, house on Right.
Standard status
Active
APN
011800 32.49-2-37
Size
2,544 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
6125
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
decks
Building Details
Year built
1859
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Jessica Baxter · License #10401349913
(518) 925-3575
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 8:06PM
MLS# 202625935
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 2,544-square-foot duplex contains two residential units, each arranged with two bedrooms, one full bathroom, and an additional bonus room suitable for flexible household use. Both kitchens and bathrooms have been remodeled, with new appliances and updated finishes throughout. The property also includes newer decks and vinyl siding.
Major mechanical improvements include a new hot water boiler and hot water tank in each unit. Built in 1859, the property sits on a 0.25-acre double lot with public water and public sewer service. Natural gas supplies the hot water heating system. The rear portion of the lot offers room for potential off-street parking, landscaping, outdoor use, or other improvements.
Major mechanical improvements include a new hot water boiler and hot water tank in each unit. Built in 1859, the property sits on a 0.25-acre double lot with public water and public sewer service. Natural gas supplies the hot water heating system. The rear portion of the lot offers room for potential off-street parking, landscaping, outdoor use, or other improvements.
Key Highlights
- Two‑unit duplex with 2,544 square feet of building area
- Each unit includes 2 bedrooms, 1 full bathroom, and a bonus room
- 0.25‑acre double lot with rear space for potential off‑street parking
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
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one full bath, a flexible bonus room, updated finishes, and newer decks.
Where is this duplex located?
The property is located at 17 Glen Avenue 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: Two‑unit duplex with 2,544 square feet of building area; Each unit includes 2 bedrooms, 1 full bathroom, and a bonus room; 0.25‑acre double lot with rear space for potential off‑street parking
