River-View
New
For Sale
$265,000
260 3rd Avenue, Troy, NY 12182
Both flats have three bedrooms, one full bathroom, and month-to-month leases.
Property Size1,812 SF
Price / SF$146.25
Days on Market2
Property Features for 260 3rd Avenue
General Information
Standard status
Active
Size
1,812 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,188
Building Details
Year Built
1890
Listing Agency:
KW Platform
Listed By:
Amy L Smith-Magur · License #10301222532
(518) 729-8486
Source:
Capmarkrealty
Added: Sep 26
Last Checked: Sep 26 at 2:41PM
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 KW Platform
Investment Insights
Based on property information with market context.
This 1,812-square-foot duplex, built in 1890, contains two flats, each with three bedrooms and one full bathroom. Both units are leased on a month-to-month basis. The property also includes a private yard and views of the Hudson River.
Located at 260 3rd Avenue in Troy, the property is classified as a duplex. Its two-unit layout, existing leases, outdoor space, and river views provide a concise picture of the property’s physical features and current occupancy.
Located at 260 3rd Avenue in Troy, the property is classified as a duplex. Its two-unit layout, existing leases, outdoor space, and river views provide a concise picture of the property’s physical features and current occupancy.
Key Highlights
- Two flats, each with 3 bedrooms and 1 full bathroom
- 1,812 square feet; built in 1890
- Both units have month‑to‑month leases
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
$23,733
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
8.96%
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%
$474,660
$474.7K
Cap Rate 7%
$339,043
$339.0K
Cap Rate 9%
$263,700
$263.7K
Market Conditions
NOI Build-Up for 1,812 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
$35.9K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$33.9K $18.71/SF
− OpEx
−$10.2K −$5.61/SF
NOI
$23.7K $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 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%
$474,660
Cap Rate 7%
$339,043
Cap Rate 9%
$263,700
Alternative Uses
Best Use
Multifamily LT 5
$339.0K
$296.7K – $395.6K
NOI $23,733 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$314.2K
$274.9K – $366.6K
NOI $21,994 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$453.0K
$396.4K – $528.5K
NOI $31,708 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 12182, NY
14,657
Population
7,314
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$54,663
Median Household Income
$47,077
Median Earnings
$1,012
Median Rent
$195,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both flats have three bedrooms, one full bathroom, and month-to-month leases.
Where is this duplex located?
The property is located at 260 3rd Avenue Troy, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two flats, each with 3 bedrooms and 1 full bathroom; 1,812 square feet; built in 1890; Both units have month‑to‑month leases
