Corner-Lot Duplex with Fenced
For Sale
$280,000
345-349 4th St, Troy, NY 12180
Two-unit property with one vacant apartment and month-to-month occupancy in the other.
Property Size2,210 SF
Price / SF$126.70
Days on Market16
Property Features for 345-349 4th St
General Information
Standard status
Active
Size
2,210 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced-in yard
Building Details
Year Built
1910
Listing Agency:
Howard Hanna Capital Inc
(518) 669-1804
Listed By:
Michael Field · License #30WA0832219
(518) 669-1804
Source:
Fieldrealty
Added: Aug 14
Changed: Aug 27
Last Checked: Aug 28 at 10:13AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains approximately 2,210 square feet of living space across two residential units. The second-floor apartment is vacant, while the first-floor unit is occupied under a month-to-month lease, creating a flexible configuration for an owner occupant or investor.
The property occupies a corner lot with a large fenced yard that backs to the Posten Kill Creek. Its two-unit layout, existing tenancy, vacant apartment, and outdoor space provide a practical residential income property profile in Troy.
The property occupies a corner lot with a large fenced yard that backs to the Posten Kill Creek. Its two-unit layout, existing tenancy, vacant apartment, and outdoor space provide a practical residential income property profile in Troy.
Key Highlights
- Approximately 2,210 square feet of living space
- Two residential units with one apartment currently vacant
- First‑floor unit occupied under a month‑to‑month lease
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
$25,518
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
9.11%
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%
$510,360
$510.4K
Cap Rate 7%
$364,543
$364.5K
Cap Rate 9%
$283,533
$283.5K
Market Conditions
NOI Build-Up for 2,210 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
$38.5K $17.40/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$36.5K $16.50/SF
− OpEx
−$10.9K −$4.95/SF
NOI
$25.5K $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%
$510,360
Cap Rate 7%
$364,543
Cap Rate 9%
$283,533
Alternative Uses
Best Use
Multifamily LT 5
$364.5K
$319.0K – $425.3K
NOI $25,518 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$337.2K
$295.1K – $393.4K
NOI $23,606 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$689.6K
$603.4K – $804.6K
NOI $48,273 @ 7.0% cap · market cap 17.24%
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
583
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 - Two-unit property with one vacant apartment and month-to-month occupancy in the other.
Where is this duplex located?
The property is located at 345-349 4th St Troy, NY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Approximately 2,210 square feet of living space; Two residential units with one apartment currently vacant; First‑floor unit occupied under a month‑to‑month lease
