Two-Unit Duplex with River
For Sale
$265,000
260 3rd Avenue, Troy, NY 12182
MultiFamily, Troy, NY
Property Size1,812 SF
Lot Size0.08 Acres
Price / SF$146.25
Days on Market8
Property Features for 260 3rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 1
Interior features
High Speed Internet
Basement
Full
Subdivision
Lansingburgh
View
River
Elementary school district
Lansingburgh
Middle school district
Lansingburgh
High school district
Lansingburgh
Directions
2nd Ave North, veer right at fork to 3rd Ave between 105th and 106th.
Standard status
Active
APN
381700 90.23-9-24
Size
1,812 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3188
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Water front features
Lake
Water front
1
Amenities
private yard
Building Details
Year built
1890
Number of units
2
Flooring type
Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Amy Smith-Magur · License #10301222532
(518) 729-8486
Added: Sep 24
Changed: Sep 25
Last Checked: Oct 1 at 7:06PM
MLS# 202626807
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.
Built in 1890, this duplex contains two separate flats, each with 3 bedrooms and 1 full bathroom. The 1,812-square-foot property features hardwood flooring, vinyl siding, natural gas radiant heat, window-unit cooling, public water, and public sewer. Both units are occupied under month-to-month leases, providing an existing rental arrangement with flexible lease terms.
The property includes a private yard and unobstructed Hudson River views. Set on a 0.08-acre lot at 260 3rd Avenue in Troy, it also offers high-speed internet service, an asphalt roof, and a city-property setting in Rensselaer County.
The property includes a private yard and unobstructed Hudson River views. Set on a 0.08-acre lot at 260 3rd Avenue in Troy, it also offers high-speed internet service, an asphalt roof, and a city-property setting in Rensselaer County.
Key Highlights
- Two flats, each with 3 bedrooms and 1 full bathroom
- 1,812 square feet on a 0.08‑acre lot
- Both units currently 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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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
View Realmo Analytics
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 three-bedroom flats with month-to-month leases and a private yard in Troy.
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 on a 0.08‑acre lot; Both units currently have month‑to‑month leases
