Renovated Duplex with Historic
New
For Sale
$899,900
20 Lafayette Street, Saratoga Springs, NY 12866
MultiFamily, Saratoga Springs, NY
Property Size1,812 SF
Lot Size0.03 Acres
Price / SF$496.63
Days on Market2
Property Features for 20 Lafayette Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 3
Window features
ENERGY STAR Qualified WIndows
Patio and Porch features
Deck, Porch, Patio
Interior features
Solid Surface Counters, Paddle Fan, High Speed Internet, Walk-In Closet(s), Ceramic Tile Bath
Lot features
Level, Road Frontage
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
Circular Street to Lafayette # 20
Standard status
Active
APN
411501 165.68-1-25
Size
1,812 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6649
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Ductless (Heating), Baseboard, Electric (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1850
Number of units
2
Flooring type
Tile - Ceramic, Wood, Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
Kelleher Realty LLC
(518) 695-6842
Listed By:
Jeffrey Kelleher · License #10491208888
(518) 368-0471
Added: Sep 22
Last Checked: Sep 23 at 1:06AM
MLS# 202626679
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 1,812-square-foot duplex at 20 Lafayette Street combines an upper residence with a separate first-floor studio apartment featuring its own kitchen. The layout can also function as a three-bedroom, 2.5-bath single-family home. Originally built in 1850, the property was completely renovated eight years ago while retaining exposed brick walls and hardwood flooring. Additional interior features include solid-surface counters, ceramic tile baths, a walk-in closet, high-speed internet, and ductless cooling.
Outdoor space includes a deck, porch, patio, and fenced yard. The property occupies 0.03 acres and is served by public water and public sewer. Saratoga Springs is identified as the postal city, with the home located in the 12866 ZIP code.
Outdoor space includes a deck, porch, patio, and fenced yard. The property occupies 0.03 acres and is served by public water and public sewer. Saratoga Springs is identified as the postal city, with the home located in the 12866 ZIP code.
Key Highlights
- 1,812‑square‑foot duplex on a 0.03‑acre lot
- Upper residence plus first‑floor studio apartment with kitchen
- Three‑bedroom, 2.5‑bath single‑family layout option
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
$26,891
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
2.99%
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%
$537,820
$537.8K
Cap Rate 7%
$384,157
$384.2K
Cap Rate 9%
$298,789
$298.8K
Market Conditions
NOI Build-Up for 1,812 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
$40.2K $22.20/SF
− Vacancy
−$1.8K −$1.00/SF
EGI
$38.4K $21.20/SF
− OpEx
−$11.5K −$6.36/SF
NOI
$26.9K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$537,820
Cap Rate 7%
$384,157
Cap Rate 9%
$298,789
Alternative Uses
Best Use
Multifamily LT 5
$384.2K
$336.1K – $448.2K
NOI $26,891 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$343.7K
$300.8K – $401.0K
NOI $24,060 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$542.4K
$474.6K – $632.8K
NOI $37,965 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Brick duplex with a first-floor studio, deck, patio, and fenced yard.
Where is this duplex located?
The property is located at 20 Lafayette Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 1,812‑square‑foot duplex on a 0.03‑acre lot; Upper residence plus first‑floor studio apartment with kitchen; Three‑bedroom, 2.5‑bath single‑family layout option
