Renovated Two-Family
For Sale
$299,900
186 Main Street, Cohoes, NY 12047
Completely renovated duplex with two updated units, each offering three bedrooms and two full bathrooms.
Property Size2,300 SF
Price / SF$130.39
Days on Market158
Property Features for 186 Main Street
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
central air conditioning
enclosed back porches with laundry
Building Details
Year Built
1880
Tenancy
Multi
Listing Agency:
Venture Fox Realty Group LLC
Listed By:
Christopher McCabe
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Apr 14
Changed: Sep 17
Last Checked: Sep 16 at 8:18PM
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 Venture Fox Realty Group LLC
Investment Insights
Based on property information with market context.
This completely renovated two-family property includes two updated residential units, each with three bedrooms and two full bathrooms. Both units feature modern finishes throughout, including updated kitchens with stainless steel appliances and tiled bathrooms. The dual-primary-suite layouts add flexibility within each unit, with one traditional primary arrangement and a second private suite with its own full bath.
Improvements also include forced hot air heating and central air conditioning. Enclosed back porches provide additional functional space and each includes laundry. Kitchen finishes vary by unit, with one offering quartz countertops and the other featuring granite.
Presented as a turnkey opportunity, the property is configured for immediate move-in readiness in its current duplex form.
Improvements also include forced hot air heating and central air conditioning. Enclosed back porches provide additional functional space and each includes laundry. Kitchen finishes vary by unit, with one offering quartz countertops and the other featuring granite.
Presented as a turnkey opportunity, the property is configured for immediate move-in readiness in its current duplex form.
Key Highlights
- Completely renovated two‑family duplex (built 1880) with two updated units featuring 3 bedrooms and 2 full bathrooms each
- Dual primary suite setup in each unit, including one private primary suite with its own full bath
- Updated kitchens with stainless steel appliances plus quartz countertops in one unit and granite countertops in the other
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
$26,557
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
8.86%
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%
$531,140
$531.1K
Cap Rate 7%
$379,386
$379.4K
Cap Rate 9%
$295,078
$295.1K
Market Conditions
NOI Build-Up for 2,300 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
$40.0K $17.40/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$37.9K $16.50/SF
− OpEx
−$11.4K −$4.95/SF
NOI
$26.6K $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%
$531,140
Cap Rate 7%
$379,386
Cap Rate 9%
$295,078
Alternative Uses
Best Use
Multifamily LT 5
$379.4K
$332.0K – $442.6K
NOI $26,557 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$351.0K
$307.1K – $409.5K
NOI $24,567 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$717.7K
$628.0K – $837.3K
NOI $50,239 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Completely renovated duplex with two updated units, each offering three bedrooms and two full bathrooms.
Where is this duplex located?
The property is located at 186 Main Street Cohoes, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Completely renovated two‑family duplex (built 1880) with two updated units featuring 3 bedrooms and 2 full bathrooms each; Dual primary suite setup in each unit, including one private primary suite with its own full bath; Updated kitchens with stainless steel appliances plus quartz countertops in one unit and granite countertops in the other
