Remodeled Two-Family Home in
For Sale
$279,900
Pending
34 Francis Street, Troy, NY 12180
MULTI_FAMILY - Other - Troy, NY
Property Size1,848 SF
Lot Size0.20 Acres
Days on Market172
Property Features for 34 Francis Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5
Interior features
High Speed Internet, Ceramic Tile Bath
Basement
Full, Unfinished
Lot features
Cleared
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Rt 4 to Lincoln to Francis
Standard status
Pending
APN
381700 112.37-4-4
Size
1,848 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
5000
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1848
Number of units
2
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Clancy Real Estate
(518) 861-7016
Listed By:
Kevin Clancy · License #37CL1081409
(518) 461-9937
Added: Feb 25
Changed: Jul 24
Last Checked: Aug 16 at 2:06PM
MLS# 202612433
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family home presents an opportunity for investment or owner-occupancy. The property has been fully remodeled, featuring new kitchens, updated bathrooms, and modern finishes. Major improvements have been completed. Each unit offers generous living space, suitable for rental income or owner occupancy with additional income potential. The property is located in Troy, NY, on a quiet dead-end street, providing privacy while remaining close to local shops, restaurants, and major roadways. The lot size is 0.2 acres and the property size is 1848 square feet.
Key Highlights
- Two‑family home in Troy, NY with six bedrooms and two bathrooms
- Fully remodeled from top to bottom with brand‑new kitchens and updated bathrooms
- Electric heating with baseboard units
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
$21,338
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
7.62%
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%
$426,760
$426.8K
Cap Rate 7%
$304,829
$304.8K
Cap Rate 9%
$237,089
$237.1K
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
$32.2K $17.40/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$30.5K $16.50/SF
− OpEx
−$9.1K −$4.95/SF
NOI
$21.3K $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%
$426,760
Cap Rate 7%
$304,829
Cap Rate 9%
$237,089
Alternative Uses
Best Use
Multifamily LT 5
$304.8K
$266.7K – $355.6K
NOI $21,338 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$282.0K
$246.7K – $329.0K
NOI $19,739 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$576.7K
$504.6K – $672.8K
NOI $40,366 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Updated two-family home in Troy, ideal for investment or occupancy.
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 $279,900.
What are key features of this property?
This property features: Two‑family home in Troy, NY with six bedrooms and two bathrooms; Fully remodeled from top to bottom with brand‑new kitchens and updated bathrooms; Electric heating with baseboard units
