Building Details

Year Built 1962

Buildings 2

Listing Agency: Mcdonald Real Estate Comp LLC

Listed By: Clancy Real Estate, Inc Show Phone

Source: Clancyrealestate

Added: Sep 24 Changed: Sep 26 Last Checked: Sep 26 at 6:47AM

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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 Mcdonald Real Estate Comp LLC

Investment Insights

Based on property information with market context.

Set on 12 acres, this multifamily property includes a four-bedroom, three-bath home and a second building with two one-bedroom, one-bath units. The main home had its appliances and flooring replaced five years ago; additional finish work, including flooring and trim, remains. The two apartments were renovated five years ago with new kitchens and flooring. The property was built in 1962.

Riding trails, Thacher Park, and Warner Lake are nearby.

Key Highlights

• 12‑acre multifamily property with 3 residential units
• Main residence has 4 bedrooms and 3 bathrooms
• Separate building contains two 1‑bedroom, 1‑bath apartments

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

$18,735

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

3.41%

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%

$374,700 $374.7K

Cap Rate 7%

$267,643 $267.6K

Cap Rate 9%

$208,167 $208.2K

Market Conditions

NOI Build-Up for 1,754 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

$35.8K $20.40/SF

− Vacancy

−$1.7K −$0.98/SF

EGI

$34.1K $19.42/SF

− OpEx

−$15.3K −$8.74/SF

NOI

$18.7K $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%

$374,700

Cap Rate 7%

$267,643

Cap Rate 9%

$208,167

Alternative Uses

Best Use

Apartment 5plus

$267.6K

$234.2K – $312.3K (±1% cap)

NOI $18,735 @ 7.0% cap · market cap 3.41%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$547.3K

$478.9K – $638.6K (±1% cap)

NOI $38,313 @ 7.0% cap · market cap 6.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Big Box & Wholesale Store Kitchen & Bath Showroom Building Supply Home Appliance Store Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

35

Businesses Nearby

Explore this area Business Placement

Demographics for 12059, NY

1,482

Population

1,020

Households

1.5

Avg Household Size

49

Median Age

29%

College-Educated

98%

High-School Grad

22.8 sq mi

ZIP Area

65

Density / Sq Mi

$100,938

Median Household Income

$57,693

Median Earnings

$1,094

Median Rent

$306,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Three residences include a four-bedroom home and a separate building with two one-bedroom apartments.

Where is this multifamily property located?

The property is located at 5-6 Haluska Ln East Berne, NY.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 12‑acre multifamily property with 3 residential units; Main residence has 4 bedrooms and 3 bathrooms; Separate building contains two 1‑bedroom, 1‑bath apartments