Remodeled
New
For Sale
$309,900
34 Francis Street, Troy, NY 12180
Two residential units will be vacant at closing, allowing for a new occupancy arrangement.
Property Size1,848 SF
Price / SF$167.69
Days on Market2
Property Features for 34 Francis Street
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,750
Building Details
Year Built
1890
Listing Agency:
Clancy Real Estate
Listed By:
Kevin Clancy · License #37CL1081409
(518) 461-9937
Source:
Capmarkrealty
Added: Sep 26
Last Checked: Sep 26 at 3:15PM
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 Clancy Real Estate
Investment Insights
Based on property information with market context.
This 1,848-square-foot duplex was built in 1890 and is being offered vacant at closing. Both units have been remodeled, with new kitchens, updated bathrooms, and contemporary interior finishes. Each residence has generous living space.
The property is on a dead-end street in Troy, with local shops, restaurants, and major roadways nearby.
The property is on a dead-end street in Troy, with local shops, restaurants, and major roadways nearby.
Key Highlights
- Two‑family property with 1,848 square feet
- Vacant at closing
- Remodeled interiors with new kitchens and updated 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
$24,205
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
7.81%
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%
$484,100
$484.1K
Cap Rate 7%
$345,786
$345.8K
Cap Rate 9%
$268,944
$268.9K
Market Conditions
NOI Build-Up for 1,848 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
$36.6K $19.80/SF
− Vacancy
−$2.0K −$1.09/SF
EGI
$34.6K $18.71/SF
− OpEx
−$10.4K −$5.61/SF
NOI
$24.2K $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 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%
$484,100
Cap Rate 7%
$345,786
Cap Rate 9%
$268,944
Alternative Uses
Best Use
Multifamily LT 5
$345.8K
$302.6K – $403.4K
NOI $24,205 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$320.4K
$280.4K – $373.9K
NOI $22,431 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$462.0K
$404.2K – $539.0K
NOI $32,338 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
253
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
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 - Two residential units will be vacant at closing, allowing for a new occupancy arrangement.
Where is this duplex located?
The property is located at 34 Francis Street Troy, NY.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two‑family property with 1,848 square feet; Vacant at closing; Remodeled interiors with new kitchens and updated bathrooms
