Ballston Spa Duplex Investment
For Sale
$425,000
Pending
31-33 Glen Street, Ballston Spa, NY 12020
MULTI_FAMILY - Other - Ballston Spa, NY
Property Size2,264 SF
Lot Size0.18 Acres
Days on Market158
Property Features for 31-33 Glen Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Single Residence
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 6, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 3
Parking
6
Parking features
Garage, Driveway, Off Street
Exterior features
Garden
Fencing
Fenced
Basement
Full
High school
Ballston Spa
Elementary school district
Ballston Spa
Middle school district
Ballston Spa
High school district
Ballston Spa
Directions
Route 50 North to South Street, to Glen
Standard status
Pending
APN
414201 203.71-1-30
Size
2,264 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
5071
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Vinyl
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Tesoros Property Management LLC
(518) 225-4703
Listed By:
Gloria Herman · License #10491200011
(518) 225-4703
Added: Mar 19
Changed: Aug 11
Last Checked: Aug 23 at 12:06PM
MLS# 202613564
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.
Located at 31-33 Glen Street in Ballston Spa, this duplex presents an opportunity for investors or owner-occupants seeking rental income. The property features two units, each with 3 bedrooms and 1.5 bathrooms. The units offer functional layouts with generous living areas and ample natural light. With a total of six bedrooms, the duplex offers income potential and long-term investment value. Situated in the Village of Ballston Spa, the property is conveniently located near local shops, restaurants, parks, and schools. It is also a short drive to Saratoga Springs and major commuting routes. The property size is 2264 square feet and the lot size is 0.18 acres.
Key Highlights
- Duplex at 31‑33 Glen Street in Ballston Spa, offering two units with 3 bedrooms and 1.5 bathrooms each
- 6 total bedrooms across the property (Bedrooms 1‑6) plus 4 bathrooms
- Year built 1920 with vinyl siding exterior and vinyl flooring
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
Property Profile
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 - Well-located duplex in Ballston Spa with income potential.
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: Duplex at 31‑33 Glen Street in Ballston Spa, offering two units with 3 bedrooms and 1.5 bathrooms each; 6 total bedrooms across the property (Bedrooms 1‑6) plus 4 bathrooms; Year built 1920 with vinyl siding exterior and vinyl flooring
