Two-Unit Duplex with Newer
New
For Sale
$199,000
29 Smith Street, Glens Falls, NY 12801
Separate upstairs and downstairs residences support rental or owner-occupant use.
Property Size2,090 SF
Price / SF$95.22
Days on Market5
Property Features for 29 Smith Street
General Information
Standard status
Active
Size
2,090 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
With a little TLC
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,467
Building Details
Year Built
1890
Listing Agency:
KW Platform
Listed By:
Elizabeth Page · License #10401333541
(518) 573-1112
Source:
Capmarkrealty
Added: Sep 19
Last Checked: Sep 22 at 1:47PM
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 two-family duplex at 29 Smith Street contains 2 separate units arranged across upstairs and downstairs levels. The property provides 2,090 square feet with 5 total bedrooms and 2 full bathrooms, offering a substantial residential layout for rental or owner-occupant use. A newer furnace serves as a notable mechanical improvement, while the 1890 construction supports a renovation-oriented approach.
The property is in Glens Falls, within Glens Falls City Schools, on a quiet street with access to local amenities, parks, and downtown. Its two-unit configuration allows an owner to occupy one residence while renting the other, or operate both units as part of a residential income portfolio.
The property is in Glens Falls, within Glens Falls City Schools, on a quiet street with access to local amenities, parks, and downtown. Its two-unit configuration allows an owner to occupy one residence while renting the other, or operate both units as part of a residential income portfolio.
Key Highlights
- Two separate residential units in an upstairs/downstairs layout
- 2,090 square feet with 5 total bedrooms
- 2 full bathrooms across both units
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
$17,429
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
8.76%
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%
$348,580
$348.6K
Cap Rate 7%
$248,986
$249.0K
Cap Rate 9%
$193,656
$193.7K
Market Conditions
NOI Build-Up for 2,090 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
$33.4K $15.96/SF
− Vacancy
−$1.7K −$0.80/SF
EGI
$31.7K $15.16/SF
− OpEx
−$14.3K −$6.82/SF
NOI
$17.4K $8.34/SF
Area
Warren County, NY
Vacancy
5.00%
Lease Rate
$15.96 /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%
$348,580
Cap Rate 7%
$248,986
Cap Rate 9%
$193,656
Alternative Uses
Best Use
Multifamily LT 5
$272.9K
$238.8K – $318.4K
NOI $19,103 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.5K
NOI $17,429 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$625.6K
$547.4K – $729.8K
NOI $43,790 @ 7.0% cap · market cap 22.01%
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
757
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
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 - Separate upstairs and downstairs residences support rental or owner-occupant use.
Where is this duplex located?
The property is located at 29 Smith Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two separate residential units in an upstairs/downstairs layout; 2,090 square feet with 5 total bedrooms; 2 full bathrooms across both units
