Building Details

Year Built 1962

Buildings 2

Listing Agency: Moore Thomas P

Listed By: Brian Walters · License #30WA0832219 Show Phone

Source: Albanyprimeproperties

Added: Oct 30 Changed: Nov 5 Last Checked: Nov 4 at 12:52PM

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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 Moore Thomas P

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Investment Insights

Based on property information with market context.

Set on 12.12 wooded acres, this multifamily property includes a 4-bedroom, 3-bath main residence and a detached building with two private 1-bedroom, 1-bath units. The apartments have separate utilities. The home also has an unfinished full basement, attached garage space, updated appliances, newer flooring, a fireplace, and a wrap-around deck and porch. Built in 1962, the property has parking for 10+ vehicles, with room for recreational equipment.

A pond is located on the property, which borders landlocked New York State forest land. Thacher State Park and Warner Lake are nearby, and the Capital District is within commuting reach.

Key Highlights

• Three living units across two buildings: a 4‑bedroom, 3‑bath home and two 1‑bedroom, 1‑bath apartments
• 12.12 wooded acres with a pond
• Borders landlocked New York State forest land

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,735

Cap Rate

3.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$374,700 $374.7K

Cap Rate 7%

$267,643 $267.6K

Cap Rate 9%

$208,167 $208.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,754 SF

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 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. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

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

Yes

Utilities to site

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

Frequently Asked Questions

What type of property is this?

Multifamily property - Three living units are arranged between a primary residence and a separate building with two 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: Three living units across two buildings: a 4‑bedroom, 3‑bath home and two 1‑bedroom, 1‑bath apartments; 12.12 wooded acres with a pond; Borders landlocked New York State forest land