Two-Unit Duplex with
New
For Sale
$295,000
191 Warren St, Glens Falls, NY 12801
Separate utilities serve each apartment, and the property is currently vacant.
Property Size1,690 SF
Price / SF$174.56
Days on Market2
Property Features for 191 Warren St
General Information
Standard status
Active
Size
1,690 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR, 1 x 3BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Brian Walters
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 24
Last Checked: Sep 24 at 8:31AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 1,690-square-foot duplex in Glens Falls, New York, was built in 1920 and contains two apartments: one with four bedrooms and one with three. The property is vacant. Each apartment has its own front and rear entrance with porches, and utilities are separately metered. Newer appliances and utility systems are also noted, along with a sizable off-street parking area.
Key Highlights
- Two apartments: one with 4 bedrooms and one with 3
- 1,690 square feet; built in 1920
- Separate utilities for each apartment
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
$15,447
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
5.24%
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%
$308,940
$308.9K
Cap Rate 7%
$220,671
$220.7K
Cap Rate 9%
$171,633
$171.6K
Market Conditions
NOI Build-Up for 1,690 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
$23.7K $14.04/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$22.1K $13.06/SF
− OpEx
−$6.6K −$3.92/SF
NOI
$15.4K $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%
$308,940
Cap Rate 7%
$220,671
Cap Rate 9%
$171,633
Alternative Uses
Best Use
Multifamily LT 5
$220.7K
$193.1K – $257.5K
NOI $15,447 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$201.3K
$176.2K – $234.9K
NOI $14,093 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$505.8K
$442.6K – $590.2K
NOI $35,409 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
703
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
View Realmo Analytics
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 - Separate utilities serve each apartment, and the property is currently vacant.
Where is this duplex located?
The property is located at 191 Warren St Glens Falls, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two apartments: one with 4 bedrooms and one with 3; 1,690 square feet; built in 1920; Separate utilities for each apartment
