Updated Two-Family
For Sale
$249,900
Pending
31 Charles St, Waterford, NY 12188
Two residential units provide separate living arrangements with individually metered heat and electric service.
Property Size1,336 SF
Days on Market69
Property Features for 31 Charles St
General Information
Standard status
Pending
Size
1,336 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1870
Listing Agency:
Legacy Nine Realty
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Aug 13
Changed: Oct 19
Last Checked: Oct 19 at 6:48AM
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 Legacy Nine Realty
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Investment Insights
Based on property information with market context.
This two-family residential property contains 1,336 square feet across two apartments. The lower-level residence includes two bedrooms and one full bathroom, while the upper apartment has one bedroom and one bathroom along with documented updates. Each unit has its own heat and electric service, supporting separate utility management.
The property also includes off-street parking, a detached heated one-car garage, and a full basement for storage. Constructed in 1870, the building is located in Waterford with access to local amenities, major roadways, and nearby communities.
The property also includes off-street parking, a detached heated one-car garage, and a full basement for storage. Constructed in 1870, the building is located in Waterford with access to local amenities, major roadways, and nearby communities.
Key Highlights
- Two‑family property with 1,336 square feet of residential space
- First‑floor unit has 2 bedrooms and 1 full bath
- Updated second‑floor apartment includes 1 bedroom and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,827
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,540
$396.5K
Cap Rate 7%
$283,243
$283.2K
Cap Rate 9%
$220,300
$220.3K
Market Conditions
NOI Build-Up for 1,336 SF
Gross rent
$29.7K $22.20/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$28.3K $21.20/SF
− OpEx
−$8.5K −$6.36/SF
NOI
$19.8K $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 Rate 5%
$396,540
Cap Rate 7%
$283,243
Cap Rate 9%
$220,300
Alternative Uses
Best Use
Multifamily LT 5
$283.2K
$247.8K – $330.5K
NOI $19,827 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$253.4K
$221.7K – $295.7K
NOI $17,739 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$399.9K
$349.9K – $466.5K
NOI $27,992 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 12188, NY
11,035
Population
5,197
Households
2.1
Avg Household Size
43
Median Age
32%
College-Educated
94%
High-School Grad
13.0 sq mi
ZIP Area
849
Density / Sq Mi
$87,212
Median Household Income
$46,738
Median Earnings
$1,097
Median Rent
$278,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide separate living arrangements with individually metered heat and electric service.
Where is this duplex located?
The property is located at 31 Charles St Waterford, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑family property with 1,336 square feet of residential space; First‑floor unit has 2 bedrooms and 1 full bath; Updated second‑floor apartment includes 1 bedroom and 1 bath
