Updated Side-by-Side
For Sale
$389,900
Pending
36 Central Ave, Troy, NY 12180
Each residence has separate utilities, laundry hookups, a driveway, and a walk-in closet for the primary bedroom.
Property Size2,324 SF
Days on Market38
Property Features for 36 Central Ave
General Information
Standard status
Pending
Size
2,324 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,280
Listing Agency:
KW Platform
(518) 512-7784
Listed By:
Jenn L Baniak-Hollands · License #10301218622
(518) 512-7784
Source:
Exprealty
Added: Jul 14
Changed: Aug 19
Last Checked: Aug 20 at 11:00AM
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 KW Platform
Investment Insights
Based on property information with market context.
This purpose-built duplex contains two side-by-side residences, each arranged with 2 bedrooms and 1.5 bathrooms. The larger owner-occupied unit includes a living room with a post-and-beam ceiling, gas stove, eat-in kitchen, Trex deck, fenced yard, attached two-car garage, and an elevated workshop area. The second unit features an eat-in kitchen with granite counters, soft-close cabinetry, and an updated half bath. Both units include dishwashers, primary-bedroom walk-in closets, basement laundry hookups, and separate utilities. Heating consists of natural-gas hot-water baseboards on the first floor and electric baseboards upstairs in the owner's unit; the tenant's unit uses electric baseboards throughout.
The property includes separate driveways, a tenant storage shed, and a level fenced backyard. Located at 36 Central Ave in Troy, the duplex is near Emma Willard School, downtown Troy, I-787, shopping, dining, and area employers.
The property includes separate driveways, a tenant storage shed, and a level fenced backyard. Located at 36 Central Ave in Troy, the duplex is near Emma Willard School, downtown Troy, I-787, shopping, dining, and area employers.
Key Highlights
- 2,324‑square‑foot side‑by‑side duplex with 2 bedrooms and 1.5 bathrooms in each unit
- Owner's unit includes an attached two‑car garage and partially finished workshop above
- New Trex deck and level fenced backyard
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
$26,834
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
6.88%
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%
$536,680
$536.7K
Cap Rate 7%
$383,343
$383.3K
Cap Rate 9%
$298,156
$298.2K
Market Conditions
NOI Build-Up for 2,324 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
$40.4K $17.40/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$38.3K $16.50/SF
− OpEx
−$11.5K −$4.95/SF
NOI
$26.8K $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%
$536,680
Cap Rate 7%
$383,343
Cap Rate 9%
$298,156
Alternative Uses
Best Use
Multifamily LT 5
$383.3K
$335.4K – $447.2K
NOI $26,834 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$354.6K
$310.3K – $413.7K
NOI $24,824 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$725.2K
$634.5K – $846.1K
NOI $50,763 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
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 - Each residence has separate utilities, laundry hookups, a driveway, and a walk-in closet for the primary bedroom.
Where is this duplex located?
The property is located at 36 Central Ave Troy, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 2,324‑square‑foot side‑by‑side duplex with 2 bedrooms and 1.5 bathrooms in each unit; Owner's unit includes an attached two‑car garage and partially finished workshop above; New Trex deck and level fenced backyard
