Triplex With
New
For Sale
$300,000
411 9th Street, Watervliet, NY 12189
MULTI_FAMILY - Other - Watervliet, NY
Property Size2,238 SF
Lot Size0.18 Acres
Price / SF$134.05
Days on Market3
Property Features for 411 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Multi Residence
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2
Parking
6
Parking features
Off Street
Interior features
Paddle Fan, High Speed Internet
Basement
Full, Unfinished
Lot features
Level, Cleared
Elementary school district
Watervliet
Middle school district
Watervliet
High school district
Watervliet
Directions
3rd Ave to 8th St, 8th st to 4th Ave, 4th Ave to 9th St
Standard status
Active
APN
011800 44.34-2-4
Size
2,238 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4406
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Radiant, Natural Gas
Water source
Public
Amenities
off street parking
yard
Building Details
Year built
1920
Number of units
3
Flooring type
Wood, Tile, Vinyl
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Romeo Team Realty
(518) 978-0916
Listed By:
Gia M Smith · License #10301223655
(518) 410-4017
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 9 at 11:06AM
MLS# 202623591
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 1920-built triplex contains 2,238 square feet and offers three residential units within a vinyl-sided structure. The property includes wood, tile, and vinyl flooring, along with hot-water, baseboard, and radiant heating powered by natural gas. A roof replacement and second-floor furnace installation were completed in 2015.
Two units are occupied, while the configuration also supports an owner-occupant arrangement with use of the remaining unit. The property includes a yard and off-street parking. Public water and public sewer serve the building, and cable service is available. Located at 411 9th Street in Watervliet, the property is zoned Multi Residence and sits on 0.18 acres.
Two units are occupied, while the configuration also supports an owner-occupant arrangement with use of the remaining unit. The property includes a yard and off-street parking. Public water and public sewer serve the building, and cable service is available. Located at 411 9th Street in Watervliet, the property is zoned Multi Residence and sits on 0.18 acres.
Key Highlights
- Three‑unit property with 2,238 square feet
- Two units are occupied; one unit may support owner occupancy
- 0.18‑acre lot with yard and off‑street parking
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with public water and sewer, natural-gas heating, and a 2015 roof replacement.
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: Three‑unit property with 2,238 square feet; Two units are occupied; one unit may support owner occupancy; 0.18‑acre lot with yard and off‑street parking
