Three-Unit Multifamily
For Sale
$285,000
Pending
181 Bay St, Glens Falls, NY 12801
Separate utilities, off-street parking, and one furnished unit support practical ownership and tenant convenience.
Property Size2,106 SF
Days on Market53
Property Features for 181 Bay St
General Information
Standard status
Pending
Size
2,106 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR, 1 x 3BR
Multifamily Units
3
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$7,116
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Angela Cugini-Girard · License #40CU0937069
(518) 232-1460
Source:
Exprealty
Added: Aug 31
Changed: Oct 5
Last Checked: Oct 20 at 9:30PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
Built in 1881, this multifamily property at 181 Bay St in Glens Falls contains three residential units with a two-bedroom, three-bedroom, and additional two-bedroom configuration. The first-floor residence has two bedrooms, while the second-floor unit includes three bedrooms. A separate two-bedroom unit is being sold furnished, adding flexibility to the existing setup.
Each unit has separate utilities, and the property provides off-street parking for up to five vehicles. Its Glens Falls setting places the property minutes from downtown, shopping, dining, and area amenities. The established rental history and three-unit layout provide a defined residential income property configuration for an investor or owner seeking multifamily ownership.
Each unit has separate utilities, and the property provides off-street parking for up to five vehicles. Its Glens Falls setting places the property minutes from downtown, shopping, dining, and area amenities. The established rental history and three-unit layout provide a defined residential income property configuration for an investor or owner seeking multifamily ownership.
Key Highlights
- Three‑unit multifamily property at 181 Bay St, Glens Falls, NY 12801
- Unit mix includes two 2‑bedroom units and one 3‑bedroom unit
- Separate utilities serve each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,249
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,980
$385.0K
Cap Rate 7%
$274,986
$275.0K
Cap Rate 9%
$213,878
$213.9K
Market Conditions
NOI Build-Up for 2,106 SF
Gross rent
$29.6K $14.04/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$27.5K $13.06/SF
− OpEx
−$8.2K −$3.92/SF
NOI
$19.2K $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 Rate 5%
$384,980
Cap Rate 7%
$274,986
Cap Rate 9%
$213,878
Alternative Uses
Best Use
Multifamily LT 5
$275.0K
$240.6K – $320.8K
NOI $19,249 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$250.9K
$219.5K – $292.7K
NOI $17,562 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$630.4K
$551.6K – $735.4K
NOI $44,125 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Separate utilities, off-street parking, and one furnished unit support practical ownership and tenant convenience.
Where is this triplex located?
The property is located at 181 Bay St Glens Falls, NY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Three‑unit multifamily property at 181 Bay St, Glens Falls, NY 12801; Unit mix includes two 2‑bedroom units and one 3‑bedroom unit; Separate utilities serve each unit
