Updated Duplex with Private
For Sale
$329,000
32 Prospect Street, Glens Falls, NY 12801
Updated duplex offering separate utilities, private entrances, and driveways for each unit.
Property Size2,242 SF
Price / SF$146.74
Days on Market85
Property Features for 32 Prospect Street
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
KW Platform
Listed By:
Thaddeus Jones
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jun 26
Changed: Sep 17
Last Checked: Sep 18 at 9:32AM
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 KW Platform
Investment Insights
Based on property information with market context.
This updated duplex provides a practical layout for an owner-occupant or an investor looking for unit separation. The home features 6 bedrooms and 2 full baths, along with improvements completed within the past 2 years including updated kitchens and bathrooms and durable LVP flooring.
Externally, the duplex includes newer vinyl siding within the past 2 years. Each unit has separate utilities, private entrances, and its own driveway, with two storage sheds and a large backyard. Initial showings are for the first-floor unit, which is currently vacant, and a second showing can be scheduled to tour the tenant-occupied second-floor unit.
Built in 1900, the property totals 2,242 SF and is described as conveniently located just minutes from downtown Glens Falls, shopping, dining, schools, and parks.
Externally, the duplex includes newer vinyl siding within the past 2 years. Each unit has separate utilities, private entrances, and its own driveway, with two storage sheds and a large backyard. Initial showings are for the first-floor unit, which is currently vacant, and a second showing can be scheduled to tour the tenant-occupied second-floor unit.
Built in 1900, the property totals 2,242 SF and is described as conveniently located just minutes from downtown Glens Falls, shopping, dining, schools, and parks.
Key Highlights
- 2,242 SF updated duplex built in 1900
- 6 bedrooms and 2 full baths
- Improvements within the past 2 years: updated kitchens, bathrooms, and LVP 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
$20,492
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
6.23%
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%
$409,840
$409.8K
Cap Rate 7%
$292,743
$292.7K
Cap Rate 9%
$227,689
$227.7K
Market Conditions
NOI Build-Up for 2,242 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
$31.5K $14.04/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$29.3K $13.06/SF
− OpEx
−$8.8K −$3.92/SF
NOI
$20.5K $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%
$409,840
Cap Rate 7%
$292,743
Cap Rate 9%
$227,689
Alternative Uses
Best Use
Multifamily LT 5
$292.7K
$256.2K – $341.5K
NOI $20,492 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$267.1K
$233.7K – $311.6K
NOI $18,696 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$671.1K
$587.2K – $782.9K
NOI $46,974 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,403
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
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?
Duplex - Updated duplex offering separate utilities, private entrances, and driveways for each unit.
Where is this duplex located?
The property is located at 32 Prospect Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,242 SF updated duplex built in 1900; 6 bedrooms and 2 full baths; Improvements within the past 2 years: updated kitchens, bathrooms, and LVP flooring
