Renovated Two-Unit
For Sale
$319,000
21 Dempster St, Ravena, NY 12143
Separate garage parking and recently updated apartment interiors complement the two-unit residential income property.
Property Size2,480 SF
Price / SF$128.63
Days on Market18
Property Features for 21 Dempster St
General Information
Standard status
Active
Size
2,480 SF
Total Parking Spaces
2
Property subtype
Multi-Unit (2-4)
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1890
Buildings
1
Construction
brick
Listing Agency:
Gosen properties
(718) 704-0494
Listed By:
Emmanuel Victor
(718) 598-7374
Source:
Gosenproperties
Added: Oct 12
Changed: Oct 28
Last Checked: Oct 28 at 3:08PM
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 Gosen properties
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Investment Insights
Based on property information with market context.
This brick duplex contains two apartments totaling 2,480 square feet. Both units were renovated this year, and one is currently leased while the other is vacant. The vacant apartment may be available for occupancy or rental. A detached garage provides space for two cars.
Built in 1890, the property is located at 21 Dempster St in Ravena, New York.
Built in 1890, the property is located at 21 Dempster St in Ravena, New York.
Key Highlights
- Two apartments totaling 2,480 square feet
- Brick duplex built in 1890
- Both apartments renovated this year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,636
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,720
$572.7K
Cap Rate 7%
$409,086
$409.1K
Cap Rate 9%
$318,178
$318.2K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$43.2K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$40.9K $16.50/SF
− OpEx
−$12.3K −$4.95/SF
NOI
$28.6K $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 Rate 5%
$572,720
Cap Rate 7%
$409,086
Cap Rate 9%
$318,178
Alternative Uses
Best Use
Multifamily LT 5
$409.1K
$358.0K – $477.3K
NOI $28,636 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$378.4K
$331.1K – $441.5K
NOI $26,490 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$773.9K
$677.1K – $902.9K
NOI $54,171 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
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Business Placement
Demographics for 12143, NY
4,903
Population
2,523
Households
1.9
Avg Household Size
42
Median Age
27%
College-Educated
90%
High-School Grad
19.1 sq mi
ZIP Area
257
Density / Sq Mi
$89,450
Median Household Income
$41,458
Median Earnings
$1,022
Median Rent
$222,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate garage parking and recently updated apartment interiors complement the two-unit residential income property.
Where is this duplex located?
The property is located at 21 Dempster St Ravena, NY.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two apartments totaling 2,480 square feet; Brick duplex built in 1890; Both apartments renovated this year
