Two-Unit Duplex with Separate
For Sale
$179,000
5 Numan St, Glens Falls, NY 12801
Each residence includes two bedrooms, with independent utility service for the units.
Property Size1,732 SF
Price / SF$103.35
Days on Market11
Property Features for 5 Numan St
General Information
Standard status
Active
Size
1,732 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,153
Listing Agency:
Venture Fox Realty Group LLC
(518) 441-1711
Listed By:
Amanda Harrington · License #40HA1054373
(518) 441-1711
Source:
Exprealty
Added: Aug 10
Changed: Aug 18
Last Checked: Aug 19 at 12:33PM
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 Venture Fox Realty Group LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 5 Numan St includes two bedrooms in each unit and separate utilities. The property measures 1,732 square feet and includes recent updates to both residences: Unit 1 has a newer furnace and hot water tank, while Unit 2 features new carpeting.
The home is near Glens Falls Hospital, restaurants, shopping, and downtown Glens Falls. Its two-unit configuration supports occupancy of one residence while the other is rented, or use as a two-unit residential income property.
The home is near Glens Falls Hospital, restaurants, shopping, and downtown Glens Falls. Its two-unit configuration supports occupancy of one residence while the other is rented, or use as a two-unit residential income property.
Key Highlights
- Two‑family duplex with two bedrooms in each unit
- Separate utilities for the two residences
- 1,732 square feet of total property size
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
$15,831
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
8.84%
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%
$316,620
$316.6K
Cap Rate 7%
$226,157
$226.2K
Cap Rate 9%
$175,900
$175.9K
Market Conditions
NOI Build-Up for 1,732 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
$24.3K $14.04/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$22.6K $13.06/SF
− OpEx
−$6.8K −$3.92/SF
NOI
$15.8K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /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%
$316,620
Cap Rate 7%
$226,157
Cap Rate 9%
$175,900
Alternative Uses
Best Use
Multifamily LT 5
$226.2K
$197.9K – $263.9K
NOI $15,831 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$206.3K
$180.5K – $240.7K
NOI $14,443 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$518.4K
$453.6K – $604.8K
NOI $36,289 @ 7.0% cap · market cap 20.27%
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
1,957
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
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?
Duplex - Each residence includes two bedrooms, with independent utility service for the units.
Where is this duplex located?
The property is located at 5 Numan St Glens Falls, NY.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Two‑family duplex with two bedrooms in each unit; Separate utilities for the two residences; 1,732 square feet of total property size
