Updated Two-Unit
For Sale
$270,000
30 Lexington Avenue, Glens Falls, NY 12801
Each residence includes three bedrooms, an eat-in kitchen, spacious bath, and laundry hookups.
Property Size1,773 SF
Price / SF$152.28
Days on Market111
Property Features for 30 Lexington Avenue
General Information
Standard status
Active
Size
1,773 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex
Occupancy
50%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,106
Amenities
laundry hookups
enclosed back porches
Slate, Metal
None, No
Electric, Forced Air, Natural Gas, Yes
Exterior Entry, Unfinished
True
Vinyl, Carpet
Stone
Vinyl Siding
Electric Dryer Hookup, Washer Hookup
Rear Porch, Enclosed, Front Porch
Building Details
Year Built
1920
Listing Agency:
All-American Properties.com
Listed By:
Tammy Sutphin · License #30SU0996377
Source:
Compass
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 12:48AM
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 All-American Properties.com
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit duplex offers matching three-bedroom residences with practical layouts that include large eat-in kitchens, spacious bathrooms, and laundry connections. The interiors have been refreshed with new carpeting and fresh paint. Enclosed rear porches provide transition space between the units and the off-street parking area, which accommodates 4 cars.
The upper residence is leased, while the lower residence is vacant for showings. Heating differs by unit, with a new gas furnace serving the lower level and electric heat in the upper unit. The owner handles trash removal, lawn care, and snow removal; residents are responsible for their own utilities. The property is located at 30 Lexington Avenue in Glens Falls, NY.
The upper residence is leased, while the lower residence is vacant for showings. Heating differs by unit, with a new gas furnace serving the lower level and electric heat in the upper unit. The owner handles trash removal, lawn care, and snow removal; residents are responsible for their own utilities. The property is located at 30 Lexington Avenue in Glens Falls, NY.
Key Highlights
- Two‑unit duplex with 3 bedrooms in each residence
- Fresh paint and new carpeting throughout
- Large eat‑in kitchens, spacious baths, and laundry hookups in 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
$16,205
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
6.00%
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%
$324,100
$324.1K
Cap Rate 7%
$231,500
$231.5K
Cap Rate 9%
$180,056
$180.1K
Market Conditions
NOI Build-Up for 1,773 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
$24.9K $14.04/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$23.2K $13.06/SF
− OpEx
−$6.9K −$3.92/SF
NOI
$16.2K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /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%
$324,100
Cap Rate 7%
$231,500
Cap Rate 9%
$180,056
Alternative Uses
Best Use
Multifamily LT 5
$231.5K
$202.6K – $270.1K
NOI $16,205 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$211.2K
$184.8K – $246.4K
NOI $14,785 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$530.7K
$464.4K – $619.1K
NOI $37,148 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
495
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
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 - Each residence includes three bedrooms, an eat-in kitchen, spacious bath, and laundry hookups.
Where is this duplex located?
The property is located at 30 Lexington Avenue Glens Falls, NY.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms in each residence; Fresh paint and new carpeting throughout; Large eat‑in kitchens, spacious baths, and laundry hookups in both units
