Building Details

Year Built 1959

Buildings 2

Listing Agency: KW Platform

Listed By: Donald Smith · License #30SM0655779 Show Phone

Source: Capmarkrealty

Added: Oct 20 Changed: Oct 21 Last Checked: Oct 21 at 2:28AM

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Investment Insights

Based on property information with market context.

This triplex pairs a renovated 3,800-square-foot main residence with two 2-bedroom rental apartments, each approximately 800 square feet. The house includes hardwood and ceramic flooring, a kitchen with built-in Monogram appliances and honed stone counters, and a first-floor primary suite with a den or study area. Three additional bedrooms and a vaulted bonus room are located upstairs. A dry basement, attached two-car garage, covered front porch, rear deck, landscaped yard, and in-ground pool round out the residence.

A separate 1,600-square-foot heated garage or warehouse has two 12-foot-by-14-foot overhead doors and a half bath. The apartments have a private driveway and parking. The property is at 23 Flower Road in Brunswick, New York, and was built in 1959.

Key Highlights

• Renovated 3,800‑square‑foot main residence with first‑floor primary suite
• Two rental apartments, each approximately 800 square feet with 2 bedrooms
• Separate 1,600‑square‑foot heated garage with two 12' x 14' overhead doors and a half bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,754

Cap Rate

7.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,415,080 $1.4M

Cap Rate 7%

$1,010,771 $1.0M

Cap Rate 9%

$786,156 $786.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,402 SF

Gross rent

$107.0K $19.80/SF

− Vacancy

−$5.9K −$1.09/SF

EGI

$101.1K $18.71/SF

− OpEx

−$30.3K −$5.61/SF

NOI

$70.8K $13.10/SF

Area

Rensselaer County, NY

Vacancy

5.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,415,080

Cap Rate 7%

$1,010,771

Cap Rate 9%

$786,156

Alternative Uses

Best Use

Multifamily LT 5

$1.01M

$884.4K – $1.18M (±1% cap)

NOI $70,754 @ 7.0% cap · market cap 7.26%

Second Best

Apartment 5plus

$936.7K

$819.6K – $1.09M (±1% cap)

NOI $65,571 @ 7.0% cap · market cap 6.73%

Theoretical Best

Office A

$1.35M

$1.18M – $1.58M (±1% cap)

NOI $94,529 @ 7.0% cap · market cap 9.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Explore this area Business Placement

Demographics for 12180, NY

55,907

Population

25,527

Households

2.2

Avg Household Size

33

Median Age

40%

College-Educated

90%

High-School Grad

56.2 sq mi

ZIP Area

995

Density / Sq Mi

$73,767

Median Household Income

$41,787

Median Earnings

$1,188

Median Rent

$233,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Two rental apartments accompany a renovated main residence and a separate heated garage with workshop capacity.

Where is this triplex located?

The property is located at 23 Flower Road Brunswick, NY.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Renovated 3,800‑square‑foot main residence with first‑floor primary suite; Two rental apartments, each approximately 800 square feet with 2 bedrooms; Separate 1,600‑square‑foot heated garage with two 12' x 14' overhead doors and a half bath