Updated Duplex with Detached
For Sale
$449,000
264 Kenwood Avenue, Bethlehem, NY 12054
Two residential units offer separate laundry areas, flexible living space, and outdoor amenities in a walkable Delmar setting.
Property Size2,220 SF
Price / SF$202.25
Days on Market195
Property Features for 264 Kenwood Avenue
General Information
Standard status
Active
Size
2,220 SF
Total Parking Spaces
8
Property subtype
Multi Family / Duplex
Zoning
Multi Residence
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,026
Amenities
laundry
deck
Asphalt
Forced Air, Natural Gas, Yes
Full
200+ Amp Service
Vinyl, Tile, Carpet, Hardwood, Laminate
Yes
Vinyl Siding
Back Yard
Blinds
Laundry Closet, Laundry Room, Main Level, Upper Level
Deck
Building Details
Year Built
1850
Listing Agency:
Coldwell Banker Prime Properties
(518) 428-7177
Listed By:
Mary Bintz · License #10401287760
(518) 428-7177
Source:
Compass
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 9:55PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This 2,220-square-foot duplex includes two residential units with distinct layouts. The main-level apartment features a living room, dining area, eat-in kitchen, laundry, two bedrooms, one full bathroom, and one half bathroom. The upper apartment has been updated with a new kitchen and bathroom featuring a walk-in shower, along with new flooring and a dedicated laundry room. Forced-air heating with natural gas, 200+ amp service, and a mix of hardwood, laminate, vinyl, tile, and carpet are included.
The property also offers a detached two-car garage, substantial off-street parking, a private backyard, and a deck. Located at 264 Kenwood Avenue in Delmar, it is within walking distance of the Four Corners area, including eateries, shops, the library, and post office. Bethlehem Schools serve the property, which is zoned Multi Residence.
The property also offers a detached two-car garage, substantial off-street parking, a private backyard, and a deck. Located at 264 Kenwood Avenue in Delmar, it is within walking distance of the Four Corners area, including eateries, shops, the library, and post office. Bethlehem Schools serve the property, which is zoned Multi Residence.
Key Highlights
- 2,220‑square‑foot duplex with two residential units
- Upper apartment updated with new kitchen, bathroom, walk‑in shower, and new flooring
- Main‑level unit includes two bedrooms, one full bathroom, and one half bathroom
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
$25,634
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
5.71%
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%
$512,680
$512.7K
Cap Rate 7%
$366,200
$366.2K
Cap Rate 9%
$284,822
$284.8K
Market Conditions
NOI Build-Up for 2,220 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
$38.6K $17.40/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$36.6K $16.50/SF
− OpEx
−$11.0K −$4.95/SF
NOI
$25.6K $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%
$512,680
Cap Rate 7%
$366,200
Cap Rate 9%
$284,822
Alternative Uses
Best Use
Multifamily LT 5
$366.2K
$320.4K – $427.2K
NOI $25,634 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$338.8K
$296.4K – $395.2K
NOI $23,713 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$692.7K
$606.2K – $808.2K
NOI $48,492 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Explore this area
Business Placement
Demographics for 12054, NY
17,282
Population
7,221
Households
2.4
Avg Household Size
46
Median Age
68%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
1,115
Density / Sq Mi
$128,684
Median Household Income
$69,853
Median Earnings
$1,658
Median Rent
$334,800
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 residential units offer separate laundry areas, flexible living space, and outdoor amenities in a walkable Delmar setting.
Where is this duplex located?
The property is located at 264 Kenwood Avenue Bethlehem, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,220‑square‑foot duplex with two residential units; Upper apartment updated with new kitchen, bathroom, walk‑in shower, and new flooring; Main‑level unit includes two bedrooms, one full bathroom, and one half bathroom
