Duplex with Full
For Sale
$450,000
32 Richmond Street, Colonie, NY 12205
Two-unit property with separate full basements, vinyl siding, and hot water heat.
Property Size2,496 SF
Lot Size0.16 Acres
Price / SF$180.29
Days on Market150
Property Features for 32 Richmond Street
General Information
Standard status
Active
Size
2,496 SF
Total Parking Spaces
3
Lot size
0.16 Acres
Property subtype
Multi Family / Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,608
Amenities
Asphalt
None, No
Baseboard, Hot Water, Yes
Full, Unfinished
Vinyl, Carpet
Paddle Fan, High Speed Internet
Yes
Vinyl Siding
In Bathroom
Garden
Deck
Building Details
Year Built
1999
Buildings
1
Listing Agency:
Capital Tech Real Estate Group LLC
(518) 810-6093
Listed By:
Lisa A Walsh · License #10491202654
(518) 810-6093
Source:
Compass
Added: Apr 5
Changed: Aug 30
Last Checked: Aug 30 at 4:38PM
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 Capital Tech Real Estate Group LLC
Investment Insights
Based on property information with market context.
Built in 1999, this two-family property contains 2,496 sq. ft. of living space across two units. The layout provides six bedrooms, full basements for both residences, vinyl siding, and baseboard hot water heating. Interior finishes include vinyl and carpet, while each unit benefits from unfinished basement space. Exterior features include a deck and garden area.
The property occupies a 7,062 sq. ft. lot at 32 Richmond Street in Colonie, NY. Off-street parking and outdoor space are included, and the home is positioned near Honest Weight Food Co-op, Central Avenue shopping, and I-87/I-90 access. The property is expected to be vacant at closing.
The property occupies a 7,062 sq. ft. lot at 32 Richmond Street in Colonie, NY. Off-street parking and outdoor space are included, and the home is positioned near Honest Weight Food Co-op, Central Avenue shopping, and I-87/I-90 access. The property is expected to be vacant at closing.
Key Highlights
- Two‑family property with 2,496 sq. ft. of living space
- Built in 1999
- Six‑bedroom layout with 4 full bathrooms and 2‑1/2 baths
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
$28,425
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
6.32%
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%
$568,500
$568.5K
Cap Rate 7%
$406,071
$406.1K
Cap Rate 9%
$315,833
$315.8K
Market Conditions
NOI Build-Up for 2,496 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
$43.4K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.6K $16.27/SF
− OpEx
−$12.2K −$4.88/SF
NOI
$28.4K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
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%
$568,500
Cap Rate 7%
$406,071
Cap Rate 9%
$315,833
Alternative Uses
Best Use
Multifamily LT 5
$406.1K
$355.3K – $473.8K
NOI $28,425 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,096 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 12205, NY
27,168
Population
12,061
Households
2.3
Avg Household Size
45
Median Age
36%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
1,764
Density / Sq Mi
$89,270
Median Household Income
$54,184
Median Earnings
$1,405
Median Rent
$264,200
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?
Duplex - Two-unit property with separate full basements, vinyl siding, and hot water heat.
Where is this duplex located?
The property is located at 32 Richmond Street Colonie, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑family property with 2,496 sq. ft. of living space; Built in 1999; Six‑bedroom layout with 4 full bathrooms and 2‑1/2 baths
