Building Details

Year Built 1872

Buildings 1

Listing Agency: Four Seasons Sothebys International Realty

Listed By: Jennifer C Bergeron Show Phone

Source: Capmarkrealty

Added: Jul 24 Changed: Oct 2 Last Checked: Oct 14 at 8:17PM

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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 Four Seasons Sothebys International Realty

Investment Insights

Based on property information with market context.

Built in 1872, this 2,628-square-foot duplex contains two separate apartments. The first-floor residence includes three bedrooms, two full bathrooms, and direct entry to a full basement for storage and additional space. Upstairs, the second unit offers two bedrooms, one full bathroom, and access to a walk-up attic that provides additional storage. Separate utilities serve each apartment, supporting straightforward management and flexible occupancy arrangements.

The property is located at 400 Delaware Ave in Delmar, near the Four Corners, library, shops, restaurants, and other town amenities. Its two-unit layout can accommodate an owner-occupant with a second residence, rental use, or multigenerational living, as supported by the existing configuration.

Key Highlights

• 2,628‑square‑foot duplex built in 1872
• First‑floor unit with 3 bedrooms, 2 full bathrooms, and full basement access
• Second‑floor unit includes 2 bedrooms, 1 full bathroom, and a walk‑up attic

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,345

Cap Rate

6.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$606,900 $606.9K

Cap Rate 7%

$433,500 $433.5K

Cap Rate 9%

$337,167 $337.2K

Market Conditions

NOI Build-Up for 2,628 SF

Gross rent

$45.7K $17.40/SF

− Vacancy

−$2.4K −$0.90/SF

EGI

$43.3K $16.50/SF

− OpEx

−$13.0K −$4.95/SF

NOI

$30.3K $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 Rate 5%

$606,900

Cap Rate 7%

$433,500

Cap Rate 9%

$337,167

Alternative Uses

Best Use

Multifamily LT 5

$433.5K

$379.3K – $505.8K (±1% cap)

NOI $30,345 @ 7.0% cap · market cap 6.98%

Second Best

Apartment 5plus

$401.0K

$350.9K – $467.9K (±1% cap)

NOI $28,071 @ 7.0% cap · market cap 6.45%

Theoretical Best

Office A

$820.1K

$717.6K – $956.7K (±1% cap)

NOI $57,404 @ 7.0% cap · market cap 13.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store Auto Repair Shop Big Box & Wholesale Store Grocery & Convenience Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

450

Businesses Nearby

Explore this area Business Placement

Demographics for 12054, NY

17,282

Population

7,221

Households

2.4

Avg Household Size

46

Median Age

68%

College-Educated

98%

High-School Grad

15.5 sq mi

ZIP Area

1,115

Density / Sq Mi

$128,684

Median Household Income

$69,853

Median Earnings

$1,658

Median Rent

$334,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property near shops, restaurants, the library, and the Four Corners.

Where is this duplex located?

The property is located at 400 Delaware Avenue Bethlehem, NY.

What is the asking price?

The asking price for this property is $435,000.

What are key features of this property?

This property features: 2,628‑square‑foot duplex built in 1872; First‑floor unit with 3 bedrooms, 2 full bathrooms, and full basement access; Second‑floor unit includes 2 bedrooms, 1 full bathroom, and a walk‑up attic