Well-Maintained Triplex with
For Sale
$364,900
421 4th Street, Troy, NY 12180
MULTI_FAMILY - Troy, NY
Property Size3,000 SF
Lot Size0.07 Acres
Price / SF$121.63
Days on Market56
Property Features for 421 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 8, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Laundry Room, Bedroom 5, Bathroom 3, Bedroom 7
Patio and Porch features
Deck
Interior features
High Speed Internet, Built-in Features, Ceramic Tile Bath
Fencing
Fenced
Basement
Exterior Entry
Lot features
Corner Lot
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Menands Bridge (NY-378 E), Bear Left onto Burden Ave. Slight Right onto 4th St, on Corner of Monroe & 4th
Standard status
Active
APN
381700 112.29-1-15
Size
3,000 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
8651
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Vinyl, Laminate
Building materials
Brick
Roof type
Rubber
Listing Agency:
Clancy Real Estate
(518) 861-7016
Listed By:
Kevin Clancy · License #37CL1081409
(518) 461-9937
Added: Jun 22
Changed: Jul 24
Last Checked: Aug 16 at 3:06PM
MLS# 202620327
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 well-maintained triplex includes updated electrical, PEX plumbing, tankless water heaters, and high-efficiency gas forced-air heating. Interior finishes have been refreshed with updated flooring, fixtures, appliances, insulation, sheetrock, and trim throughout. The second-floor unit features skylights, adding natural light to the living space. Residents also benefit from a shared laundry room with coin-operated washers and dryers. Additional exterior and mechanical features include a sump pump, fully fenced backyard, deck, and a storage shed. The property is professionally maintained with required permits and fire safety systems in place.
Located at 421 4th Street in Troy, NY 12180, the building is described as convenient to shopping, dining, public transportation, and major roadways, supporting everyday accessibility for residents.
For buyers seeking a residential income asset, the combination of completed system upgrades and updated interior components can help reduce near-term capital concerns while supporting straightforward tenant use. The shared coin laundry and fully fenced outdoor area further support day-to-day livability across the three units. Fire safety systems and permitted improvements provide an added layer of operational assurance.
Located at 421 4th Street in Troy, NY 12180, the building is described as convenient to shopping, dining, public transportation, and major roadways, supporting everyday accessibility for residents.
For buyers seeking a residential income asset, the combination of completed system upgrades and updated interior components can help reduce near-term capital concerns while supporting straightforward tenant use. The shared coin laundry and fully fenced outdoor area further support day-to-day livability across the three units. Fire safety systems and permitted improvements provide an added layer of operational assurance.
Key Highlights
- Brick building with updated electrical and PEX plumbing
- Heating includes natural gas forced‑air and tankless water heaters
- Updated flooring, fixtures, appliances, insulation, sheetrock, and trim throughout
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
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Triplex - Updated triplex offers modern systems, shared coin laundry, and outdoor amenities for durable residential income use.
Where is this triplex 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: Brick building with updated electrical and PEX plumbing; Heating includes natural gas forced‑air and tankless water heaters; Updated flooring, fixtures, appliances, insulation, sheetrock, and trim throughout
