Large Triplex with Buildable
For Sale
$425,000
2309 17th Street, Troy, NY 12180
Well-maintained triplex features two downstairs units and one upstairs unit, plus off-street parking and a spacious backyard.
Property Size2,732 SF
Price / SF$155.56
Days on Market327
Property Features for 2309 17th Street
General Information
Standard status
Active
Size
2,732 SF
Total Parking Spaces
10
Property subtype
Multi Family / Triplex
Zoning
Multi Residence
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,393
Amenities
hardwood floors
built-in display cabinets
enclosed front porch
Shingle, Asphalt
None, No
Baseboard, Hot Water, Natural Gas, Yes
Full, Unfinished
200+ Amp Service
Tile, Hardwood, Laminate
No
French Doors
Walk-In Closet(s), Built-in Features
Wood Siding
Yes
Wood, Fenced
Double Pane Windows
In Basement
Enclosed, Front Porch
Building Details
Year Built
1890
Listing Agency:
DiBlasi Real Estate
Listed By:
John S DiBlasi · License #10491211230
(518) 857-1505
Source:
Compass
Added: Oct 16, 2025
Changed: Aug 8
Last Checked: Jul 23 at 2:20PM
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 DiBlasi Real Estate
Investment Insights
Based on property information with market context.
This well maintained large triplex includes two units downstairs and one unit upstairs. Interior finishes include hardwoods and built-in display cabinets. The upstairs unit features a large bedroom, a walk-in closet, and an enclosed front porch. Off-street parking and a spacious backyard are also part of the property.
The property is located very close to RPI and the Hospitals. Units are leased through May.
In addition to the existing building, the property offers additional area that includes a buildable lot.
The property is located very close to RPI and the Hospitals. Units are leased through May.
In addition to the existing building, the property offers additional area that includes a buildable lot.
Key Highlights
- Well‑maintained triplex with 2 units downstairs and 1 unit upstairs
- Hardwood flooring with built‑in display cabinets and walk‑in closet(s)
- Enclosed front porch for the upstairs unit plus a large bedroom
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
$31,545
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
7.42%
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%
$630,900
$630.9K
Cap Rate 7%
$450,643
$450.6K
Cap Rate 9%
$350,500
$350.5K
Market Conditions
NOI Build-Up for 2,732 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
$47.5K $17.40/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$45.1K $16.50/SF
− OpEx
−$13.5K −$4.95/SF
NOI
$31.5K $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%
$630,900
Cap Rate 7%
$450,643
Cap Rate 9%
$350,500
Alternative Uses
Best Use
Multifamily LT 5
$450.6K
$394.3K – $525.8K
NOI $31,545 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,182 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$852.5K
$745.9K – $994.6K
NOI $59,675 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,337
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained triplex features two downstairs units and one upstairs unit, plus off-street parking and a spacious backyard.
Where is this triplex located?
The property is located at 2309 17th Street Troy, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Well‑maintained triplex with 2 units downstairs and 1 unit upstairs; Hardwood flooring with built‑in display cabinets and walk‑in closet(s); Enclosed front porch for the upstairs unit plus a large bedroom
