Triplex with Off-Street
New
For Sale
$300,000
411 9TH Street, Watervliet, NY 12189
Three-unit property with a yard, off-street parking, and a roof installed in 2015.
Property Size2,238 SF
Price / SF$134.05
Days on Market5
Property Features for 411 9TH Street
General Information
Standard status
Active
Size
2,238 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Romeo Team Realty
Listed By:
Gia M Smith
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 3:07AM
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 Romeo Team Realty
Investment Insights
Based on property information with market context.
This 1920-built triplex contains 2,238 square feet across three residential units. The property includes off-street parking and a yard, providing outdoor space and on-site vehicle accommodation. Two units are occupied, while the configuration also supports owner-occupancy in one unit alongside the remaining residences.
Capital improvements include a roof replacement completed in 2015 and a second-floor furnace installed during the same year. The three-unit format, existing occupancy, and physical improvements give the property a defined residential income profile.
Capital improvements include a roof replacement completed in 2015 and a second-floor furnace installed during the same year. The three-unit format, existing occupancy, and physical improvements give the property a defined residential income profile.
Key Highlights
- 2,238‑square‑foot triplex built in 1920
- Two units are occupied
- Off‑street parking included
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
$25,841
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
8.61%
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%
$516,820
$516.8K
Cap Rate 7%
$369,157
$369.2K
Cap Rate 9%
$287,122
$287.1K
Market Conditions
NOI Build-Up for 2,238 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
$38.9K $17.40/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$36.9K $16.50/SF
− OpEx
−$11.1K −$4.95/SF
NOI
$25.8K $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%
$516,820
Cap Rate 7%
$369,157
Cap Rate 9%
$287,122
Alternative Uses
Best Use
Multifamily LT 5
$369.2K
$323.0K – $430.7K
NOI $25,841 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$341.5K
$298.8K – $398.4K
NOI $23,905 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$698.4K
$611.1K – $814.8K
NOI $48,885 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
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?
Triplex - Three-unit property with a yard, off-street parking, and a roof installed in 2015.
Where is this triplex located?
The property is located at 411 9TH Street Watervliet, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,238‑square‑foot triplex built in 1920; Two units are occupied; Off‑street parking included
