Two-Unit Duplex with Separate
For Sale
$179,000
5 Numan St, Glens Falls, NY 12801
Two-family property with updated systems and carpeting, positioned near Glens Falls Hospital, downtown amenities, restaurants, and shopping.
Property Size1,732 SF
Price / SF$103.35
Days on Market18
Property Features for 5 Numan St
General Information
Standard status
Active
Size
1,732 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Howard Hanna Capital Inc
(518) 669-1804
Listed By:
Michael Field · License #30WA0832219
(518) 669-1804
Source:
Fieldrealty
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 26 at 12:37PM
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 1,732-square-foot duplex, built in 1910, contains two residential units with two bedrooms in each. Separate utilities serve the units, providing distinct service arrangements for the property’s occupants. Recent work includes a newer furnace and hot water tank in Unit 1, along with new carpeting in Unit 2.
The property is located at 5 Numan St in Glens Falls, near Glens Falls Hospital, restaurants, shopping, and downtown Glens Falls. Its two-unit layout supports continued use as a residential income property or an owner-occupant arrangement with one unit available for rental.
The property is located at 5 Numan St in Glens Falls, near Glens Falls Hospital, restaurants, shopping, and downtown Glens Falls. Its two-unit layout supports continued use as a residential income property or an owner-occupant arrangement with one unit available for rental.
Key Highlights
- Two‑unit duplex with 1,732 square feet
- Two bedrooms in each unit
- Separate utilities for each unit
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 - Two-family property with updated systems and carpeting, positioned near Glens Falls Hospital, downtown amenities, restaurants, and shopping.
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‑unit duplex with 1,732 square feet; Two bedrooms in each unit; Separate utilities for each unit
