Triplex With Off-Street
For Sale
$300,000
Pending
411 9th Street, Watervliet, NY 12189
MultiFamily, Watervliet, NY
Property Size2,238 SF
Lot Size0.18 Acres
Days on Market56
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 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 7, Bathroom 4, Bathroom 1
Parking
6
Parking features
Off Street
Interior features
Paddle Fan, High Speed Internet
Basement
Unfinished, Full
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
Pending
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
Natural Gas, Radiant, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
off street parking
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: Sep 12
Last Checked: Oct 1 at 10:06PM
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 triplex at 411 9th Street in Watervliet, New York, contains 2,238 square feet within a 1920-built residential structure. The property includes three bathrooms, seven bedrooms, vinyl siding, and a combination of vinyl, tile, and wood flooring. Heating is provided through baseboard, hot water, and radiant systems using natural gas. Cable is available, with public water and public sewer serving the property.
The 0.18-acre parcel includes off-street parking and a yard. Multi Residence zoning supports the property's multifamily configuration. An asphalt roof and second-floor furnace were installed in 2015. The property is located in Albany County and carries a 12189 postal code.
The 0.18-acre parcel includes off-street parking and a yard. Multi Residence zoning supports the property's multifamily configuration. An asphalt roof and second-floor furnace were installed in 2015. The property is located in Albany County and carries a 12189 postal code.
Key Highlights
- Triplex with 2,238 square feet of building area
- 0.18‑acre lot with off‑street parking and yard
- Seven bedrooms and three bathrooms
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential property with a private yard, public utilities, and multi-residence zoning.
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: Triplex with 2,238 square feet of building area; 0.18‑acre lot with off‑street parking and yard; Seven bedrooms and three bathrooms
