Six-Bedroom
For Sale
$425,000
31-33 Glen Street, Ballston Spa, NY 12020
Two residential units provide flexible occupancy options with separate living spaces and fenced outdoor areas.
Property Size2,264 SF
Price / SF$187.72
Days on Market166
Property Features for 31-33 Glen Street
General Information
Standard status
Active
Size
2,264 SF
Total Parking Spaces
6
Property subtype
Multi Family / Duplex
Zoning
Single Residence
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,071
Amenities
Window Unit(s), Yes
Baseboard, Hot Water, Natural Gas, Yes
Full
Single Phase, 200+ Amp Service, Circuit Breakers
Vinyl
No
ENERGY STAR Qualified Doors
Stone
Yes
Vinyl Siding
Back Yard, Fenced
Garden
Building Details
Year Built
1920
Listing Agency:
Tesoros Property Mgmt LLC
(518) 225-4703
Listed By:
Gloria Herman · License #40HE1094202
(518) 225-4703
Source:
Compass
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 31 at 1:28AM
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 Tesoros Property Mgmt LLC
Investment Insights
Based on property information with market context.
This 2,264-square-foot duplex contains two residential units, each arranged with three bedrooms, one and one-half bathrooms, and functional living areas. The property includes six bedrooms overall, making it suitable for an owner-occupant seeking rental income or an investor acquiring a two-unit residential asset. Heating is provided by baseboard and hot water systems using natural gas, with window air-conditioning units. The building dates to 1920 and has vinyl siding, ENERGY STAR Qualified Doors, circuit breakers, and 200+ amp single-phase electrical service.
The property is located at 31-33 Glen Street in Ballston Spa, within the Village of Ballston Spa. Local shops, restaurants, parks, and schools are nearby, while Saratoga Springs and major commuting routes are a short drive away. Exterior features include a fenced backyard and garden area. Zoning is Single Residence.
The property is located at 31-33 Glen Street in Ballston Spa, within the Village of Ballston Spa. Local shops, restaurants, parks, and schools are nearby, while Saratoga Springs and major commuting routes are a short drive away. Exterior features include a fenced backyard and garden area. Zoning is Single Residence.
Key Highlights
- Two‑unit duplex with 2,264 SF of building area
- Each unit includes 3 bedrooms and 1.5 bathrooms
- Six total bedrooms across the property
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
$33,599
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
7.91%
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%
$671,980
$672.0K
Cap Rate 7%
$479,986
$480.0K
Cap Rate 9%
$373,322
$373.3K
Market Conditions
NOI Build-Up for 2,264 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
$50.3K $22.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$48.0K $21.20/SF
− OpEx
−$14.4K −$6.36/SF
NOI
$33.6K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$671,980
Cap Rate 7%
$479,986
Cap Rate 9%
$373,322
Alternative Uses
Best Use
Multifamily LT 5
$480.0K
$420.0K – $560.0K
NOI $33,599 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$429.4K
$375.8K – $501.0K
NOI $30,061 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$677.6K
$592.9K – $790.6K
NOI $47,435 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
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 provide flexible occupancy options with separate living spaces and fenced outdoor areas.
Where is this duplex located?
The property is located at 31-33 Glen Street Ballston Spa, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,264 SF of building area; Each unit includes 3 bedrooms and 1.5 bathrooms; Six total bedrooms across the property
