Flexible Two-Family
For Sale
$290,000
18 Summit Ave, Troy, NY 12180
Legally configured for two-family use and currently arranged as a single-family residence.
Property Size2,326 SF
Price / SF$124.68
Days on Market53
Property Features for 18 Summit Ave
General Information
Standard status
Active
Size
2,326 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
laundry room
fenced yard
handicap accessible
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Realty One Group Key
(518) 861-7016
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 30 at 4:19PM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This 2,326-square-foot duplex, built in 1910, is currently arranged as a single-family residence while retaining its legal two-family designation. The layout can support a return to separate residential use or continued occupancy by one household. Interior details include hardwood flooring, custom built-in storage, and formal dining rooms on both levels with exposed brick chimney features. The first-floor kitchen has been updated with stainless steel appliances, including Bluetooth capability. A laundry room with two closets offers additional flexibility as office space or a bedroom. The first floor is handicap accessible.
Outdoor features include a vinyl-enclosed side and rear yard, along with a detached two-car garage for parking and storage. The property is located at 18 Summit Ave in Troy’s Frear Park neighborhood on a quiet dead-end street.
Outdoor features include a vinyl-enclosed side and rear yard, along with a detached two-car garage for parking and storage. The property is located at 18 Summit Ave in Troy’s Frear Park neighborhood on a quiet dead-end street.
Key Highlights
- 2,326‑square‑foot duplex built in 1910
- Legal two‑family designation with current single‑family configuration
- Updated first‑floor kitchen with stainless steel appliances and Bluetooth capability
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
$24,845
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
8.57%
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%
$496,900
$496.9K
Cap Rate 7%
$354,929
$354.9K
Cap Rate 9%
$276,056
$276.1K
Market Conditions
NOI Build-Up for 2,326 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
$47.5K $20.40/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$45.2K $19.42/SF
− OpEx
−$20.3K −$8.74/SF
NOI
$24.8K $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%
$496,900
Cap Rate 7%
$354,929
Cap Rate 9%
$276,056
Alternative Uses
Best Use
Multifamily LT 5
$383.7K
$335.7K – $447.6K
NOI $26,857 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$354.9K
$310.6K – $414.1K
NOI $24,845 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$725.8K
$635.1K – $846.8K
NOI $50,807 @ 7.0% cap · market cap 17.52%
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
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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 - Legally configured for two-family use and currently arranged as a single-family residence.
Where is this duplex located?
The property is located at 18 Summit Ave Troy, NY.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 2,326‑square‑foot duplex built in 1910; Legal two‑family designation with current single‑family configuration; Updated first‑floor kitchen with stainless steel appliances and Bluetooth capability
