Triplex with Off-Street
For Sale
$300,000
Pending
411 9th St, Watervliet, NY 12189
Three-unit property with a yard, off-street parking, and two occupied units.
Property Size2,238 SF
Days on Market49
Property Features for 411 9th St
General Information
Standard status
Pending
Size
2,238 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
yard
Building Details
Year Built
1920
Listing Agency:
Exp Realty
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Aug 18
Changed: Oct 4
Last Checked: Oct 4 at 9:33AM
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 Exp Realty
Investment Insights
Based on property information with market context.
This 2,238-square-foot triplex includes three residential units, with two units occupied. The property also offers off-street parking and a yard, adding practical outdoor and parking space for residents.
A new roof and second-floor furnace were installed in 2015. The three-unit configuration supports an owner-occupant arrangement or continued use as a multifamily property, based on the existing occupancy described for two units.
A new roof and second-floor furnace were installed in 2015. The three-unit configuration supports an owner-occupant arrangement or continued use as a multifamily property, based on the existing occupancy described for two units.
Key Highlights
- 2,238‑square‑foot triplex with three residential units
- Two units are occupied
- Off‑street parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,841
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a yard, off-street parking, and two occupied units.
Where is this triplex located?
The property is located at 411 9th St 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 with three residential units; Two units are occupied; Off‑street parking included
