Tenant-Occupied Duplex with Flex
For Sale
$179,000
18 Main St, Lake Luzerne, NY 12846
Tenant-occupied duplex offers municipal water, private septic, and a durable metal roof, with potential for a vacant unit delivery.
Property Size1,800 SF
Price / SF$99.44
Days on Market55
Property Features for 18 Main St
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Residential Income
Zoning
HC
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,232
Listing Agency:
KW Platform
(518) 681-1836
Listed By:
Thaddeus Jones · License #10301220962
(518) 681-1836
Source:
Exprealty
Added: Jul 2
Changed: Aug 25
Last Checked: Aug 24 at 8:54AM
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 KW Platform
Investment Insights
Based on property information with market context.
This tenant-occupied duplex is an income-focused residential property with a freshly painted exterior and a durable metal roof. The offering includes municipal water and private septic. A portion of the building is currently used only for storage, and the property notes that one unit may be delivered vacant, providing flexibility for an owner-occupant or immediate re-tenanting.
Located on Main Street in Lake Luzerne, the property is described as being within a short walk to Wayside Beach and Pavilion Park. The listing also states the property is zoned HC (Hamlet Commercial).
The layout includes two residential units plus storage-only space within the building. The remarks further note that additional residential or commercial units may be possible with proper town approvals.
Located on Main Street in Lake Luzerne, the property is described as being within a short walk to Wayside Beach and Pavilion Park. The listing also states the property is zoned HC (Hamlet Commercial).
The layout includes two residential units plus storage-only space within the building. The remarks further note that additional residential or commercial units may be possible with proper town approvals.
Key Highlights
- Tenant‑occupied duplex built in 1940 with freshly painted exterior and a durable metal roof
- Services include municipal water and private septic
- One unit may be delivered vacant, allowing flexibility for an owner‑occupant
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
$16,452
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
9.19%
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%
$329,040
$329.0K
Cap Rate 7%
$235,029
$235.0K
Cap Rate 9%
$182,800
$182.8K
Market Conditions
NOI Build-Up for 1,800 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
$25.3K $14.04/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$23.5K $13.06/SF
− OpEx
−$7.1K −$3.92/SF
NOI
$16.5K $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%
$329,040
Cap Rate 7%
$235,029
Cap Rate 9%
$182,800
Alternative Uses
Best Use
Multifamily LT 5
$235.0K
$205.7K – $274.2K
NOI $16,452 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$538.8K
$471.4K – $628.6K
NOI $37,714 @ 7.0% cap · market cap 21.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 12846, NY
3,008
Population
2,338
Households
1.3
Avg Household Size
51
Median Age
26%
College-Educated
90%
High-School Grad
53.7 sq mi
ZIP Area
56
Density / Sq Mi
$47,449
Median Household Income
$41,500
Median Earnings
$942
Median Rent
$197,400
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 - Tenant-occupied duplex offers municipal water, private septic, and a durable metal roof, with potential for a vacant unit delivery.
Where is this duplex located?
The property is located at 18 Main St Lake Luzerne, NY.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Tenant‑occupied duplex built in 1940 with freshly painted exterior and a durable metal roof; Services include municipal water and private septic; One unit may be delivered vacant, allowing flexibility for an owner‑occupant
