Corner-Lot
New
For Sale
$280,000
345-349 4th Street, Troy, NY 12180
MULTI_FAMILY - Other - Troy, NY
Property Size2,210 SF
Lot Size0.13 Acres
Price / SF$126.70
Days on Market3
Property Features for 345-349 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Fencing
Perimeter
Basement
Full, Exterior Entry, Unfinished
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Spring Ave to Ida St to 4th. House sits on the corner lot.
Standard status
Active
APN
381700 112.21-7-7
Size
2,210 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
4538
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Water front features
Creek
Water front
1
Building Details
Year built
1910
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Howard Hanna Capital Inc
(518) 584-0743
Listed By:
Alison Marie Holmes · License #10401373835
(518) 772-8787
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 14 at 8:06PM
MLS# 202623814
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 2,210-square-foot duplex at 345-349 4th Street includes two residential units within a 1910 building. One unit is vacant, while the other is occupied under a month-to-month lease, creating distinct occupancy options for an owner-occupant or investor. The property has vinyl siding, natural gas forced-air heat, public water, and public sewer.
Set on a 0.13-acre corner lot in Troy, the property features a large perimeter-fenced yard adjoining the Posten Kill Creek. The two-unit layout includes four bedrooms and two bathrooms, with the existing configuration supporting separate residential living spaces. The creek-side setting and outdoor area add useful physical characteristics to the property.
Set on a 0.13-acre corner lot in Troy, the property features a large perimeter-fenced yard adjoining the Posten Kill Creek. The two-unit layout includes four bedrooms and two bathrooms, with the existing configuration supporting separate residential living spaces. The creek-side setting and outdoor area add useful physical characteristics to the property.
Key Highlights
- 2,210 square feet configured as a two‑unit residential property
- 0.13‑acre corner lot adjoining the Posten Kill Creek
- Large perimeter‑fenced yard
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
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
425
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a fenced yard, creek setting, and flexible occupancy configuration.
Where is this duplex located?
The property is located at 345-349 4th Street 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: 2,210 square feet configured as a two‑unit residential property; 0.13‑acre corner lot adjoining the Posten Kill Creek; Large perimeter‑fenced yard
