Updated Duplex With Separate
For Sale
$205,000
24 Chestnut Street, Cohoes, NY 12047
MULTI_FAMILY - Other - Cohoes, NY
Property Size1,632 SF
Lot Size0.06 Acres
Price / SF$125.61
Days on Market48
Property Features for 24 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2
Patio and Porch features
Porch
Fencing
Chain Link
Basement
Full
Lot features
Level, Corner Lot
Elementary school district
Cohoes
Middle school district
Cohoes
High school district
Cohoes
Directions
McElwain Ave to Chestnut. Home on right at corner of Johnston Ave.
Standard status
Active
APN
010300 10.58-1-1
Size
1,632 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3566
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fenced backyard
separate tenant storage areas
Building Details
Year built
1912
Number of units
2
Flooring type
Vinyl
Building materials
Shingle Siding, Vinyl Siding
Roof type
Rubber, Built-Up
Architectural style
Other
Additional Structures
Storage
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Christopher Iwinski · License #10401237144
(518) 405-6888
Added: Jun 30
Changed: Aug 15
Last Checked: Aug 16 at 7:06AM
MLS# 202620749
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,632-square-foot duplex at 24 Chestnut Street contains two matching apartments, each with two bedrooms and one bathroom. Both units have separate utilities, vinyl flooring, and kitchens with updated or newer cabinets. The property includes tenant storage areas, a porch, and a fenced backyard on a 0.06-acre lot.
Major building improvements include updated electrical, plumbing, and heating systems completed approximately 10 years ago, along with vinyl replacement windows installed approximately 3 years ago. The exterior has shingle and vinyl siding, while the rubber and built-up roof was professionally coated approximately 3 years ago. Public water and public sewer serve the property, with natural-gas forced-air heating.
The property is located on Chestnut Street in Cohoes, within walking distance of the Empire State Trail, West End Park, and Cohoes Middle School.
Major building improvements include updated electrical, plumbing, and heating systems completed approximately 10 years ago, along with vinyl replacement windows installed approximately 3 years ago. The exterior has shingle and vinyl siding, while the rubber and built-up roof was professionally coated approximately 3 years ago. Public water and public sewer serve the property, with natural-gas forced-air heating.
The property is located on Chestnut Street in Cohoes, within walking distance of the Empire State Trail, West End Park, and Cohoes Middle School.
Key Highlights
- Two 2‑bedroom, 1‑bath apartments with symmetrical layouts
- 1,632 square feet on a 0.06‑acre lot
- Separate utilities for each apartment
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
$18,844
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
9.19%
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%
$376,880
$376.9K
Cap Rate 7%
$269,200
$269.2K
Cap Rate 9%
$209,378
$209.4K
Market Conditions
NOI Build-Up for 1,632 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
$28.4K $17.40/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$26.9K $16.50/SF
− OpEx
−$8.1K −$4.95/SF
NOI
$18.8K $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%
$376,880
Cap Rate 7%
$269,200
Cap Rate 9%
$209,378
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.5K
NOI $17,432 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
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?
Duplex - Two apartments offer efficient layouts, refreshed interiors, and a fenced backyard near the Empire State Trail.
Where is this duplex located?
The property is located at 24 Chestnut Street Cohoes, NY.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath apartments with symmetrical layouts; 1,632 square feet on a 0.06‑acre lot; Separate utilities for each apartment
