Country Income Property with
For Sale
$275,000
2 Harold Drive, Altamont, NY 12009
MULTI_FAMILY - Other - Altamont, NY
Property Size1,632 SF
Lot Size11.00 Acres
Price / SF$168.50
Days on Market162
Property Features for 2 Harold Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking
8
Parking features
Garage
Patio and Porch features
Porch
Fireplace
1
Basement
Sump Pump, Full, Unfinished
Elementary school district
Berne Knox
Middle school district
Berne Knox
High school district
Berne Knox
Directions
I-87 S to I-90 W, to I-890 W, Exit 25 NY-146, right on NY-156, left Gun Club Rd, right Harold Dr to #2
Standard status
Active
APN
013200 69.-1-10
Size
1,632 SF
Lot size
11.00 Acres
Taxes and HOA fees
Tax Annual Amount
6675
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Propane (Heating)
Water source
Well
Water front features
Pond
Building Details
Year built
1952
Number of units
3
Flooring type
Hardwood, Vinyl
Building materials
Vinyl Siding
Roof type
Asphalt, Metal, Shingle
Architectural style
Other
Additional Structures
Greenhouse
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Nicholas Khachadourian · License #10301220908
(518) 649-2989
Added: Mar 12
Changed: Jul 24
Last Checked: Aug 20 at 10:06AM
MLS# 202613208
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale country income property includes two parcels totaling 11.48 acres and multiple structures. The updated single-family home offers 4 bedrooms and 1 bathroom, with hardwood floors and a brick fireplace. There is also a gutted two-family residence that presents renovation opportunity for additional income. Several outbuildings provide extra space for storage and related uses, and a private pond sits on the property.
The property is located just minutes from the Village of Altamont, in Albany County, New York.
Overall, the site combines an existing updated residence with a second multi-family structure ready for renovation, supported by outbuildings and open acreage.
The property is located just minutes from the Village of Altamont, in Albany County, New York.
Overall, the site combines an existing updated residence with a second multi-family structure ready for renovation, supported by outbuildings and open acreage.
Key Highlights
- Two parcels total 11.48 acres, just minutes from the Village of Altamont
- Updated single‑family home with 4 bedrooms, 1 bathroom, hardwood floors, and a brick fireplace
- Gutted two‑family residence on‑site, offering a renovation option for additional income
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
$18,844
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
6.85%
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%
$376,880
$376.9K
Cap Rate 7%
$269,200
$269.2K
Cap Rate 9%
$209,378
$209.4K
Market Conditions
NOI Build-Up for 1,632 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
$28.4K $17.40/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$26.9K $16.50/SF
− OpEx
−$8.1K −$4.95/SF
NOI
$18.8K $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%
$376,880
Cap Rate 7%
$269,200
Cap Rate 9%
$209,378
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.5K
NOI $17,432 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 12009, NY
7,874
Population
3,238
Households
2.4
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
52.6 sq mi
ZIP Area
150
Density / Sq Mi
$114,352
Median Household Income
$54,128
Median Earnings
$1,282
Median Rent
$321,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Two parcels totaling 11.48 acres with an updated 4-bedroom home, a gutted two-family residence, pond, and multiple outbuildings.
Where is this triplex located?
The property is located at 2 Harold Drive Altamont, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two parcels total 11.48 acres, just minutes from the Village of Altamont; Updated single‑family home with 4 bedrooms, 1 bathroom, hardwood floors, and a brick fireplace; Gutted two‑family residence on‑site, offering a renovation option for additional income
