Duplex with Separate
For Sale
$299,000
31 Crandall Street, Glens Falls, NY 12801
Two-level duplex with distinct apartment layouts, outdoor areas, and an owner-occupied upper residence.
Property Size2,273 SF
Price / SF$131.54
Days on Market309
Property Features for 31 Crandall Street
General Information
Standard status
Active
Size
2,273 SF
Total Parking Spaces
5
Property subtype
Multi Family / Duplex
Zoning
Multi Residence
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,690
Amenities
Slate
None, No
Other, Natural Gas, Yes
Unfinished
Carpet, Hardwood, Laminate
Aluminum Siding
Smoke Detector(s), Fire Alarm
Deck
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Hunt ERA
(518) 232-5400
Listed By:
Tracy Bauer · License #40BA1171717
(518) 232-5400
Source:
Compass
Added: Oct 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:20AM
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 Hunt ERA
Investment Insights
Based on property information with market context.
This two-unit property, built in 1900, contains approximately 2,273 square feet and is zoned Multi Residence. The first-floor apartment includes a spacious layout, dining area, office, front porch area, and rear private deck. The second-floor unit offers two bedrooms plus an additional room suited to office or playroom use. Each apartment has its own driveway.
The property is located minutes from downtown Glens Falls. One unit is occupied by long-term tenants, while the upper apartment is owner occupied, providing an established residential setup with separate living spaces.
The property is located minutes from downtown Glens Falls. One unit is occupied by long-term tenants, while the upper apartment is owner occupied, providing an established residential setup with separate living spaces.
Key Highlights
- 2,273‑square‑foot duplex built in 1900
- Multi Residence zoning
- First‑floor unit with dining area, office, porch area, and private rear deck
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
$20,775
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
6.95%
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%
$415,500
$415.5K
Cap Rate 7%
$296,786
$296.8K
Cap Rate 9%
$230,833
$230.8K
Market Conditions
NOI Build-Up for 2,273 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
$31.9K $14.04/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$29.7K $13.06/SF
− OpEx
−$8.9K −$3.92/SF
NOI
$20.8K $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%
$415,500
Cap Rate 7%
$296,786
Cap Rate 9%
$230,833
Alternative Uses
Best Use
Multifamily LT 5
$296.8K
$259.7K – $346.3K
NOI $20,775 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$270.8K
$236.9K – $315.9K
NOI $18,955 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$680.3K
$595.3K – $793.7K
NOI $47,624 @ 7.0% cap · market cap 15.93%
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
2,104
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with distinct apartment layouts, outdoor areas, and an owner-occupied upper residence.
Where is this duplex located?
The property is located at 31 Crandall Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,273‑square‑foot duplex built in 1900; Multi Residence zoning; First‑floor unit with dining area, office, porch area, and private rear deck
