Quadplex with Off-Street
For Sale
$579,000
318 1st Street, Troy, NY 12180
Fully occupied property with three three-bedroom units, one basement unit, and shared tenant laundry.
Property Size4,128 SF
Price / SF$140.26
Days on Market147
Property Features for 318 1st Street
General Information
Standard status
Active
Size
4,128 SF
Total Parking Spaces
2
Property subtype
Multi Family / Quadruplex
Zoning
Multi Residence
Occupancy
100%
Units
Unit Mix
3 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,822
Amenities
newer appliances
washer and dryer
Flat
Baseboard, Ductless, Natural Gas, Yes
Finished, Full
Yes
Brick
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Gucciardo Real Estate LLC
(518) 728-6305
Listed By:
Pavel Karakalchu · License #10401307281
(518) 728-6305
Source:
Compass
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 31 at 1:52AM
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 Gucciardo Real Estate LLC
Investment Insights
Based on property information with market context.
This 4,128-square-foot quadplex, built in 1890, contains four residential units: three with 3 bedrooms and 1 bath each, plus a basement unit with 1 bedroom and 1 bath. The property has received multiple updates, including newer appliances, while retaining brick construction and period character. Basement laundry equipment is available for tenant use, and newer Pella bay windows serve the second floor.
Located at 318 1st Street in Troy, the property is near cafes, restaurants, shopping, and public transportation. Rear off-street parking provides an on-site convenience for occupants. The building is fully occupied and is zoned Multi Residence, supporting its existing multifamily configuration.
Located at 318 1st Street in Troy, the property is near cafes, restaurants, shopping, and public transportation. Rear off-street parking provides an on-site convenience for occupants. The building is fully occupied and is zoned Multi Residence, supporting its existing multifamily configuration.
Key Highlights
- 4,128‑square‑foot quadplex built in 1890
- Four units: three 3‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath basement unit
- Fully occupied residential 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
$47,665
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
8.23%
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%
$953,300
$953.3K
Cap Rate 7%
$680,929
$680.9K
Cap Rate 9%
$529,611
$529.6K
Market Conditions
NOI Build-Up for 4,128 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
$71.8K $17.40/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$68.1K $16.50/SF
− OpEx
−$20.4K −$4.95/SF
NOI
$47.7K $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%
$953,300
Cap Rate 7%
$680,929
Cap Rate 9%
$529,611
Alternative Uses
Best Use
Multifamily LT 5
$680.9K
$595.8K – $794.4K
NOI $47,665 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$629.9K
$551.2K – $734.9K
NOI $44,093 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,168 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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?
Quadplex - Fully occupied property with three three-bedroom units, one basement unit, and shared tenant laundry.
Where is this quadplex located?
The property is located at 318 1st Street Troy, NY.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 4,128‑square‑foot quadplex built in 1890; Four units: three 3‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath basement unit; Fully occupied residential property
