Well-Maintained Duplex With Fenced
For Sale
$364,900
421 4TH Street, Troy, NY 12180
Updated mechanicals and finishes plus shared coin-op laundry support comfortable, low-hassle residential income use.
Property Size3,000 SF
Price / SF$121.63
Days on Market115
Property Features for 421 4TH Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-family
Additional Details
Business Included
Yes
Fenced Yard
Yes
Building Details
Year Built
1900
Listing Agency:
Clancy Real Estate
Listed By:
Kevin Clancy
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 7
Changed: Aug 28
Last Checked: Aug 26 at 10:11AM
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 Clancy Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex has been updated throughout, including electrical systems, PEX plumbing, tankless water heaters, and high-efficiency gas forced-air heating. Interior improvements include updated flooring, fixtures, appliances, insulation, sheetrock, and trim, with professionally maintained fire safety systems and permits in place. The second-floor unit features attractive skylights, adding natural light to the layout. Tenants also benefit from a shared laundry room with coin-operated washers and dryers.
Outside amenities include a sump pump and a fully fenced backyard with a deck and storage shed. The property is described as convenient to shopping, dining, public transportation, and major roadways, supporting day-to-day accessibility for residents.
For buyers seeking a residential income property, the combination of updated systems and in-place building maintenance is geared toward operational simplicity. The duplex configuration—with a second-floor unit and shared coin-operated laundry—can provide practical separation of living space while keeping common conveniences straightforward to manage. The overall condition is presented as excellent, with recent work covering both mechanicals and interior finishes.
Outside amenities include a sump pump and a fully fenced backyard with a deck and storage shed. The property is described as convenient to shopping, dining, public transportation, and major roadways, supporting day-to-day accessibility for residents.
For buyers seeking a residential income property, the combination of updated systems and in-place building maintenance is geared toward operational simplicity. The duplex configuration—with a second-floor unit and shared coin-operated laundry—can provide practical separation of living space while keeping common conveniences straightforward to manage. The overall condition is presented as excellent, with recent work covering both mechanicals and interior finishes.
Key Highlights
- Year built 1900 building with updated electrical, PEX plumbing, and insulation throughout
- Heating and hot water updates include high‑efficiency gas forced‑air heating and tankless water heaters
- Second‑floor unit includes skylights
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
$32,044
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
8.78%
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%
$640,880
$640.9K
Cap Rate 7%
$457,771
$457.8K
Cap Rate 9%
$356,044
$356.0K
Market Conditions
NOI Build-Up for 3,000 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
$61.2K $20.40/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$58.3K $19.42/SF
− OpEx
−$26.2K −$8.74/SF
NOI
$32.0K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$640,880
Cap Rate 7%
$457,771
Cap Rate 9%
$356,044
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.0K – $577.3K
NOI $34,640 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$457.8K
$400.6K – $534.1K
NOI $32,044 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$936.1K
$819.1K – $1.09M
NOI $65,529 @ 7.0% cap · market cap 17.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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?
Duplex - Updated mechanicals and finishes plus shared coin-op laundry support comfortable, low-hassle residential income use.
Where is this duplex located?
The property is located at 421 4TH Street Troy, NY.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Year built 1900 building with updated electrical, PEX plumbing, and insulation throughout; Heating and hot water updates include high‑efficiency gas forced‑air heating and tankless water heaters; Second‑floor unit includes skylights
