Building Details

Year Built 1890

Buildings 1

Construction all-brick

Listing Agency: Legacy Nine Realty

Listed By: Michael Field · License #10491203035 Show Phone

Source: Fieldrealty

Added: Sep 2 Changed: Oct 19 Last Checked: Oct 19 at 6:34AM

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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 Legacy Nine Realty

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Investment Insights

Based on property information with market context.

This three-unit property at 329 9th St in Troy combines all-brick construction with a comprehensive interior renovation. The 2,168-square-foot building includes three separate residences with spacious layouts, refreshed kitchens, renovated bathrooms featuring tiled showers, and updated finishes. All units are currently vacant.

Major building improvements include updated plumbing and electrical systems, along with Navien heat and hot water equipment. Originally built in 1890, the property retains durable masonry construction while incorporating substantial modern updates across the building.

Key Highlights

• Three‑family property with 2,168 square feet
• All‑brick construction dating to 1890
• Three currently vacant residential units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,396

Cap Rate

8.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$567,920 $567.9K

Cap Rate 7%

$405,657 $405.7K

Cap Rate 9%

$315,511 $315.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,168 SF

Gross rent

$42.9K $19.80/SF

− Vacancy

−$2.4K −$1.09/SF

EGI

$40.6K $18.71/SF

− OpEx

−$12.2K −$5.61/SF

NOI

$28.4K $13.10/SF

Area

Rensselaer County, NY

Vacancy

5.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$567,920

Cap Rate 7%

$405,657

Cap Rate 9%

$315,511

Alternative Uses

Best Use

Multifamily LT 5

$405.7K

$355.0K – $473.3K (±1% cap)

NOI $28,396 @ 7.0% cap · market cap 8.35%

Second Best

Apartment 5plus

$375.9K

$329.0K – $438.6K (±1% cap)

NOI $26,316 @ 7.0% cap · market cap 7.74%

Theoretical Best

Office A

$542.0K

$474.2K – $632.3K (±1% cap)

NOI $37,938 @ 7.0% cap · market cap 11.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

1,037

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three vacant units feature updated kitchens, tiled-shower bathrooms, and modern mechanical systems.

Where is this triplex located?

The property is located at 329 9th St Troy, NY.

What is the asking price?

The asking price for this property is $339,999.

What are key features of this property?

This property features: Three‑family property with 2,168 square feet; All‑brick construction dating to 1890; Three currently vacant residential units