Listing Agency: Venture Fox Realty Group LLC t***@venturefoxrealty.com Show Phone

Listed By: Theresa M Donlon · License #10301218544 Show Phone

Source: Exprealty

Added: May 22 Changed: Aug 11 Last Checked: Aug 11 at 6:29AM

Report an Issue

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 legal two-family property contains 3,746 square feet and offers two separate living units with adaptable layouts. Interior features include spacious bedrooms, a primary suite, enclosed sunrooms, and an expansive living room centered around a wood-burning fireplace. A full walk-up attic and additional storage support practical household use, while brand-new stainless steel appliances and laundry hookups add functionality. Central air and mini-splits provide heating and cooling options throughout the property.

The outbuildings expand the property’s functional footprint and may accommodate uses such as an artist studio, yoga space, or workshop, as described in the property information. The home is situated in the Greenville School District, which offers an International Baccalaureate Program, and is positioned near Albany, Hudson, Windham, and Saugerties. Nearby recreation and dining destinations include skiing, golf, hiking, and farm-to-table dining.

Key Highlights

• Legal 2‑family property with two separate living units
• 3,746 SF of building area
• Full walk‑up attic and ample storage

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

$43,254

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

7.86%

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%

$865,080 $865.1K

Cap Rate 7%

$617,914 $617.9K

Cap Rate 9%

$480,600 $480.6K

Market Conditions

NOI Build-Up for 3,746 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

$65.2K $17.40/SF

− Vacancy

−$3.4K −$0.90/SF

EGI

$61.8K $16.50/SF

− OpEx

−$18.5K −$4.95/SF

NOI

$43.3K $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%

$865,080

Cap Rate 7%

$617,914

Cap Rate 9%

$480,600

Alternative Uses

Best Use

Multifamily LT 5

$617.9K

$540.7K – $720.9K (±1% cap)

NOI $43,254 @ 7.0% cap · market cap 7.86%

Second Best

Apartment 5plus

$571.6K

$500.2K – $666.9K (±1% cap)

NOI $40,013 @ 7.0% cap · market cap 7.28%

Theoretical Best

Office A

$1.17M

$1.02M – $1.36M (±1% cap)

NOI $81,824 @ 7.0% cap · market cap 14.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Plumbing Service Pharmacy Home Appliance Store Cosmetic Store Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

Explore this area Business Placement

Demographics for 12193, NY

1,934

Population

1,104

Households

1.8

Avg Household Size

48

Median Age

32%

College-Educated

96%

High-School Grad

37.9 sq mi

ZIP Area

51

Density / Sq Mi

$76,438

Median Household Income

$47,784

Median Earnings

$266,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Duplex - Legal two-family layout includes flexible living spaces, storage, and outbuildings.

Where is this duplex located?

The property is located at 186 Newry Rd Westerlo, NY.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Legal 2‑family property with two separate living units; 3,746 SF of building area; Full walk‑up attic and ample storage