Two-Unit Duplex with Updated
For Sale
$199,000
29 Smith Street, Glens Falls, NY 12801
MultiFamily, Glens Falls, NY
Property Size2,090 SF
Lot Size0.13 Acres
Price / SF$95.22
Days on Market21
Property Features for 29 Smith 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
Parking
4
Parking features
Off Street, Garage
Patio and Porch features
Porch
Interior features
Solid Surface Counters
Basement
Full, Unfinished
Lot features
Corner Lot
High school
Glens Falls
Elementary school district
Glens Falls
Middle school district
Glens Falls
High school district
Glens Falls
Directions
From Bay St, Glens Falls Turn onto Hope St 29 Smith St is on the corner of Hope and Smith.
Standard status
Active
APN
520500 302.16-6-14
Size
2,090 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7467
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1890
Number of units
2
Flooring type
Vinyl, Wood, Linoleum, Carpet
Building materials
Aluminum Siding, Vinyl Siding
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Elizabeth Page · License #10401333541
(518) 573-1112
Added: Aug 25
Changed: Sep 13
Last Checked: Sep 14 at 4:06AM
MLS# 202624864
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.
This 2,090-square-foot duplex contains two separate units arranged across upstairs and downstairs levels. The property includes five bedrooms and two full bathrooms in total, with solid surface counters and a mix of vinyl, wood, linoleum, and carpet flooring. A newer furnace supports the forced-air, natural-gas heating system, while window units provide cooling. The building was constructed in 1890 and has aluminum and vinyl siding.
Set on 0.13 acres at 29 Smith Street in Glens Falls, the property has public water and public sewer service. Parking includes both off-street spaces and a garage, and the site also features a porch. Its two-unit layout provides a residential income configuration with separate living areas on distinct floors.
Set on 0.13 acres at 29 Smith Street in Glens Falls, the property has public water and public sewer service. Parking includes both off-street spaces and a garage, and the site also features a porch. Its two-unit layout provides a residential income configuration with separate living areas on distinct floors.
Key Highlights
- Two separate units arranged in upstairs and downstairs layouts
- 2,090 square feet on a 0.13‑acre lot
- Five total bedrooms and 2 full bathrooms
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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Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Upstairs and downstairs units offer a five-bedroom, two-bathroom configuration with off-street parking and a garage.
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 units arranged in upstairs and downstairs layouts; 2,090 square feet on a 0.13‑acre lot; Five total bedrooms and 2 full bathrooms
