Updated
New
For Sale
$400,000
2333 16th St, Troy, NY 12180
Three residential units are leased, with updates completed across the apartments.
Property Size2,592 SF
Price / SF$154.32
Days on Market2
Property Features for 2333 16th St
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Building Details
Year Built
1890
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Nov 4
Last Checked: Nov 4 at 12:22PM
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 Miranda Real Estate Group Inc
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Investment Insights
Based on property information with market context.
This triplex contains three residential units totaling 2,592 square feet. The apartments have been updated, and all three are leased. Built in 1890, the property is configured as a rental building.
Key Highlights
- Three‑unit residential rental building
- 2,592 square feet
- All three units are leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,949
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,980
$679.0K
Cap Rate 7%
$484,986
$485.0K
Cap Rate 9%
$377,211
$377.2K
Market Conditions
NOI Build-Up for 2,592 SF
Gross rent
$51.3K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$48.5K $18.71/SF
− OpEx
−$14.5K −$5.61/SF
NOI
$33.9K $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%
$678,980
Cap Rate 7%
$484,986
Cap Rate 9%
$377,211
Alternative Uses
Best Use
Multifamily LT 5
$485.0K
$424.4K – $565.8K
NOI $33,949 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$449.5K
$393.3K – $524.4K
NOI $31,462 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$648.0K
$567.0K – $756.0K
NOI $45,357 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,297
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are leased, with updates completed across the apartments.
Where is this triplex located?
The property is located at 2333 16th St Troy, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three‑unit residential rental building; 2,592 square feet; All three units are leased
