Updated Two-Family
For Sale
$193,500
24 Chestnut Street, Cohoes, NY 12047
MultiFamily, Cohoes, NY
Property Size1,632 SF
Lot Size0.06 Acres
Price / SF$118.57
Days on Market94
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 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 4
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
Built-Up, Rubber
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: Sep 12
Last Checked: Oct 1 at 6:06PM
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.
Located at 24 Chestnut Street in Cohoes, this 1,632-square-foot duplex contains two matching apartments, each with two bedrooms and one bathroom. The units have separate utilities, vinyl flooring, porches, and practical layouts. Improvements include updated electrical, plumbing, and heating systems completed approximately 10 years ago, along with replacement vinyl windows installed approximately 3 years ago. The property also has new siding and a professionally coated rubber roof completed approximately 3 years ago.
The 0.06-acre parcel includes a chain-link fenced backyard and separate storage areas for the apartments. Public water and public sewer serve the property, with forced-air natural gas heating. Built in 1912, the residence is within walking distance of Cohoes Middle School and sits near the Empire State Trail and West End Park.
The 0.06-acre parcel includes a chain-link fenced backyard and separate storage areas for the apartments. Public water and public sewer serve the property, with forced-air natural gas heating. Built in 1912, the residence is within walking distance of Cohoes Middle School and sits near the Empire State Trail and West End Park.
Key Highlights
- Two apartments, each configured with 2 bedrooms and 1 bathroom
- 1,632 square feet on a 0.06‑acre parcel
- 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
$17,432
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
9.01%
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%
$348,640
$348.6K
Cap Rate 7%
$249,029
$249.0K
Cap Rate 9%
$193,689
$193.7K
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
$33.3K $20.40/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$31.7K $19.42/SF
− OpEx
−$14.3K −$8.74/SF
NOI
$17.4K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$348,640
Cap Rate 7%
$249,029
Cap Rate 9%
$193,689
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.5K
NOI $17,432 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-unit residence with separate utilities, fenced outdoor space, and proximity to the Empire State Trail and West End Park.
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 $193,500.
What are key features of this property?
This property features: Two apartments, each configured with 2 bedrooms and 1 bathroom; 1,632 square feet on a 0.06‑acre parcel; Separate utilities for each apartment
