Updated Two-Unit
For Sale
$220,000
1A Congress Street, Cohoes, NY 12047
Two three-bedroom residences offer separate entrances and refreshed interiors for owner occupancy or rental use.
Property Size1,770 SF
Price / SF$124.29
Days on Market41
Property Features for 1A Congress Street
General Information
Standard status
Active
Size
1,770 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,463
Building Details
Year Built
1890
Year Renovated
2023
Buildings
1
Listing Agency:
Venture Fox Realty Group LLC
(518) 653-1898
Listed By:
Abigail Curtiss · License #10401362361
(518) 653-1898
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 1 at 2:49PM
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 two-family property contains 1,770 square feet arranged as two residential units, each with three bedrooms and one bathroom. Separate entrances serve the units, while abundant natural light contributes to the interior character. Both residences received new flooring in 2023, and the property also has a new EPDM roof completed that year. Built in 1890, the duplex provides a combination of established construction and recent exterior and interior improvements.
The home is positioned near shopping, restaurants, schools, parks, and major highways. Its Cohoes location provides access to Albany, Troy, and the Capital Region, supporting either an owner-occupant arrangement or continued residential rental use.
The home is positioned near shopping, restaurants, schools, parks, and major highways. Its Cohoes location provides access to Albany, Troy, and the Capital Region, supporting either an owner-occupant arrangement or continued residential rental use.
Key Highlights
- Two‑unit duplex with 1,770 square feet of total property size
- Each unit includes 3 bedrooms and 1 bathroom
- Separate entrances provide distinct access to both residences
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
$18,906
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
8.59%
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%
$378,120
$378.1K
Cap Rate 7%
$270,086
$270.1K
Cap Rate 9%
$210,067
$210.1K
Market Conditions
NOI Build-Up for 1,770 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
$36.1K $20.40/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$34.4K $19.42/SF
− OpEx
−$15.5K −$8.74/SF
NOI
$18.9K $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%
$378,120
Cap Rate 7%
$270,086
Cap Rate 9%
$210,067
Alternative Uses
Best Use
Multifamily LT 5
$292.0K
$255.5K – $340.6K
NOI $20,438 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$270.1K
$236.3K – $315.1K
NOI $18,906 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$552.3K
$483.3K – $644.4K
NOI $38,662 @ 7.0% cap · market cap 17.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
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
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 - Two three-bedroom residences offer separate entrances and refreshed interiors for owner occupancy or rental use.
Where is this duplex located?
The property is located at 1A Congress Street Cohoes, NY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,770 square feet of total property size; Each unit includes 3 bedrooms and 1 bathroom; Separate entrances provide distinct access to both residences
