Two-Unit Duplex with
For Sale
$239,999
23 Birch Avenue, Glens Falls, NY 12801
Multi Residence-zoned duplex with separate utilities, upgraded appliances, and a fenced yard.
Property Size1,976 SF
Price / SF$121.46
Days on Market386
Property Features for 23 Birch Avenue
General Information
Standard status
Active
Size
1,976 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex
Zoning
Multi Residence
Taxes and HOA fees
Annual Taxes
$5,614
Amenities
Composition
None, No
Forced Air, Natural Gas, Yes
Full, Interior Entry, Unfinished
150 Amp Service
Carpet, Laminate
Block
Block, Vinyl Siding
Side Porch
Building Details
Year Built
1922
Listing Agency:
Hunt ERA
(518) 470-6341
Listed By:
Cindy L Anthis · License #40AN0901444
(518) 470-6341
Source:
Compass
Added: Aug 10, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:24AM
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 Hunt ERA
Investment Insights
Based on property information with market context.
Located at 23 Birch Avenue in Glens Falls, this 1,976 SF duplex contains two apartments, each with two bedrooms and one bathroom. The units offer spacious rooms, upgraded appliances, separate utilities, and newer mechanical systems. Interior features include forced-air natural gas heat, full unfinished basement space with interior entry, 150 Amp service, carpet and laminate flooring, and block construction with vinyl siding.
The property is near downtown Glens Falls and includes a side porch, fenced yard, and a one-car garage suitable for storage. Built in 1922, the residence is zoned Multi Residence and offers a two-unit configuration for a residential income property or owner-occupied arrangement.
The property is near downtown Glens Falls and includes a side porch, fenced yard, and a one-car garage suitable for storage. Built in 1922, the residence is zoned Multi Residence and offers a two-unit configuration for a residential income property or owner-occupied arrangement.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per apartment
- 1,976 SF property built in 1922
- Separate utilities and newer mechanicals
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
$18,061
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
7.53%
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%
$361,220
$361.2K
Cap Rate 7%
$258,014
$258.0K
Cap Rate 9%
$200,678
$200.7K
Market Conditions
NOI Build-Up for 1,976 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
$27.7K $14.04/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$25.8K $13.06/SF
− OpEx
−$7.7K −$3.92/SF
NOI
$18.1K $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%
$361,220
Cap Rate 7%
$258,014
Cap Rate 9%
$200,678
Alternative Uses
Best Use
Multifamily LT 5
$258.0K
$225.8K – $301.0K
NOI $18,061 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$235.4K
$206.0K – $274.6K
NOI $16,478 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$591.4K
$517.5K – $690.0K
NOI $41,401 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,842
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
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?
Duplex - Multi Residence-zoned duplex with separate utilities, upgraded appliances, and a fenced yard.
Where is this duplex located?
The property is located at 23 Birch Avenue Glens Falls, NY.
What is the asking price?
The asking price for this property is $239,999.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per apartment; 1,976 SF property built in 1922; Separate utilities and newer mechanicals
