Renovated Two-Family
New
For Sale
$270,000
427 6th Ave, Troy, NY 12182
Updated two-family property with refreshed interiors, modern systems, outdoor spaces, and a detached garage.
Property Size1,968 SF
Price / SF$137.20
Days on Market6
Property Features for 427 6th Ave
General Information
Standard status
Active
Size
1,968 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
decks
balcony
laundry hook ups
Building Details
Year Built
1980
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 8 at 5:33AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This two-family duplex contains two 3-bedroom units within 1,968 square feet. Renovation work includes new kitchens and appliances, updated bathrooms, flooring, plumbing, electrical systems, furnaces, windows, laundry hookups, and hot water tanks. The property also provides two decks and a balcony for outdoor use.
Built in 1980, the building includes a two-car garage with private alley access. Its configuration combines separate residential units with substantial recent improvements and dedicated garage space.
Built in 1980, the building includes a two-car garage with private alley access. Its configuration combines separate residential units with substantial recent improvements and dedicated garage space.
Key Highlights
- Two 3‑bedroom residential units
- 1,968 square feet across the duplex
- Renovated kitchens, bathrooms, flooring, plumbing, and electrical systems
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
$22,724
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
8.42%
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%
$454,480
$454.5K
Cap Rate 7%
$324,629
$324.6K
Cap Rate 9%
$252,489
$252.5K
Market Conditions
NOI Build-Up for 1,968 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
$34.2K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$32.5K $16.50/SF
− OpEx
−$9.7K −$4.95/SF
NOI
$22.7K $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%
$454,480
Cap Rate 7%
$324,629
Cap Rate 9%
$252,489
Alternative Uses
Best Use
Multifamily LT 5
$324.6K
$284.1K – $378.7K
NOI $22,724 @ 7.0% cap · market cap 8.42%
Second Best
Apartment 5plus
$300.3K
$262.8K – $350.4K
NOI $21,021 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$614.1K
$537.3K – $716.5K
NOI $42,987 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 12182, NY
14,657
Population
7,314
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$54,663
Median Household Income
$47,077
Median Earnings
$1,012
Median Rent
$195,300
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?
Duplex - Updated two-family property with refreshed interiors, modern systems, outdoor spaces, and a detached garage.
Where is this duplex located?
The property is located at 427 6th Ave Troy, NY.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two 3‑bedroom residential units; 1,968 square feet across the duplex; Renovated kitchens, bathrooms, flooring, plumbing, and electrical systems
