Two-Unit Multifamily
New
For Sale
$339,000
45 2nd Ave, Rensselaer, NY 12144
An updated first floor and a tenant-occupied upper level provide separate living areas within the home.
Property Size2,004 SF
Price / SF$169.16
Days on Market3
Property Features for 45 2nd Ave
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Multi-Family
Amenities
yard
garage
Building Details
Year Built
1900
Listing Agency:
Cartier Real Estate Group LLC
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 8:54PM
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 Cartier Real Estate Group LLC
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Investment Insights
Based on property information with market context.
This 2,004-square-foot multifamily property was built in 1900 and has two floors. The first floor has been updated, while the second floor is occupied by a tenant. A garage provides additional storage, and the property includes a large yard.
The home is located at 45 2nd Avenue in Rensselaer, New York, on a dead-end street.
The home is located at 45 2nd Avenue in Rensselaer, New York, on a dead-end street.
Key Highlights
- 2,004 square feet across two floors
- Updated first floor
- Tenant occupies the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,325
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,500
$486.5K
Cap Rate 7%
$347,500
$347.5K
Cap Rate 9%
$270,278
$270.3K
Market Conditions
NOI Build-Up for 2,004 SF
Gross rent
$46.7K $23.28/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$44.2K $22.07/SF
− OpEx
−$19.9K −$9.93/SF
NOI
$24.3K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,500
Cap Rate 7%
$347,500
Cap Rate 9%
$270,278
Alternative Uses
Best Use
Apartment 5plus
$347.5K
$304.1K – $405.4K
NOI $24,325 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$501.0K
$438.4K – $584.5K
NOI $35,068 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
783
Businesses Nearby
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Business Placement
Demographics for 12144, NY
21,277
Population
10,474
Households
2
Avg Household Size
40
Median Age
38%
College-Educated
93%
High-School Grad
18.3 sq mi
ZIP Area
1,163
Density / Sq Mi
$88,357
Median Household Income
$51,893
Median Earnings
$1,379
Median Rent
$235,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - An updated first floor and a tenant-occupied upper level provide separate living areas within the home.
Where is this multifamily property located?
The property is located at 45 2nd Ave Rensselaer, NY.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2,004 square feet across two floors; Updated first floor; Tenant occupies the second floor
