Triplex with In-Unit
New
For Sale
$400,000
311 25th Street, Watervliet, NY 12189
All three apartments are occupied, with separate entrances and laundry facilities inside each unit.
Property Size3,100 SF
Price / SF$129.03
Days on Market4
Property Features for 311 25th Street
General Information
Standard status
Active
Size
3,100 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Multi Residence
Occupancy
100%
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,000
Amenities
in-unit laundry
built-in garage
Building Details
Year Built
1928
Listing Agency:
Bostick Realty LLC
Listed By:
Maurice Bostick · License #31631
(518) 368-5985
Source:
Capmarkrealty
Added: Sep 28
Last Checked: Oct 1 at 8:07AM
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 Bostick Realty LLC
Investment Insights
Based on property information with market context.
This 3,100-square-foot Watervliet triplex contains three apartments: a three-bedroom, a two-bedroom, and a one-bedroom. Each has its own entrance and an in-unit stackable washer and dryer, which are included with the property. The building also has a built-in garage. Two apartments have been renovated. Updates to the three-bedroom include LVP flooring, a kitchen with stainless steel appliances and quartz counters, and an enclosed rear porch; it also has a walk-up attic. The two-bedroom has updated flooring, a modernized kitchen, a renovated bathroom, and a walk-in closet. The one-bedroom includes a full kitchen and a bathroom renovated in 2023, along with a separate storage area.
The property is in Watervliet, with access to Troy, the Arsenal, and I-787 described as minutes away. Built in 1928, the building is currently occupied across all three units.
The property is in Watervliet, with access to Troy, the Arsenal, and I-787 described as minutes away. Built in 1928, the building is currently occupied across all three units.
Key Highlights
- Three apartments totaling 3,100 square feet, with one-, two-, and three‑bedroom layouts
- All three units have separate entrances and in‑unit stackable washer/dryers included with the sale
- Two apartments have been renovated, including updated kitchens and bathrooms
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
$35,795
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
8.95%
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%
$715,900
$715.9K
Cap Rate 7%
$511,357
$511.4K
Cap Rate 9%
$397,722
$397.7K
Market Conditions
NOI Build-Up for 3,100 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
$53.9K $17.40/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$51.1K $16.50/SF
− OpEx
−$15.3K −$4.95/SF
NOI
$35.8K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /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%
$715,900
Cap Rate 7%
$511,357
Cap Rate 9%
$397,722
Alternative Uses
Best Use
Multifamily LT 5
$511.4K
$447.4K – $596.6K
NOI $35,795 @ 7.0% cap · market cap 8.95%
Second Best
Apartment 5plus
$473.0K
$413.9K – $551.9K
NOI $33,112 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$967.3K
$846.4K – $1.13M
NOI $67,714 @ 7.0% cap · market cap 16.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are occupied, with separate entrances and laundry facilities inside each unit.
Where is this triplex located?
The property is located at 311 25th Street Watervliet, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three apartments totaling 3,100 square feet, with one-, two-, and three‑bedroom layouts; All three units have separate entrances and in‑unit stackable washer/dryers included with the sale; Two apartments have been renovated, including updated kitchens and bathrooms
