Renovated Duplex with Two
For Sale
$319,999
5 Short Street, Cohoes, NY 12047
Renovated duplex in Cohoes with one vacant unit and a second unit leased at $1,700/month.
Property Size2,116 SF
Price / SF$151.23
Days on Market204
Property Features for 5 Short Street
General Information
Standard status
Active
Size
2,116 SF
Property subtype
Multi-family
Occupancy
50%
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Real Broker NY LLC
Listed By:
Saad Tai
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jan 28
Changed: Aug 18
Last Checked: Aug 19 at 10:18AM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This fully renovated duplex at 5 Short Street offers two updated living units with modern finishes. The property includes 6 bedrooms total and 2 full bathrooms across the two units, for a combined 2,116 square feet. Unit 1 is vacant and ready for an owner-occupant, while Unit 2 is currently rented at $1,700 per month. The seller also notes recent basement waterproofing, including a new sump pump installed in April 2026.
The home is located in Cohoes, New York. According to the provided information, the property has low annual taxes of $3,785 and a strong rental history.
For buyers looking to “house hack,” Unit 1 can be occupied by the owner while Unit 2 generates rental income to help offset housing costs. As presented in the remarks, the current lease amount is intended to cover a majority of the mortgage from day one, with the opportunity to build equity through owner occupancy and ongoing rental payments. This setup can also fit investors seeking a renovated two-unit residential income property with an immediately occupiable unit.
The home is located in Cohoes, New York. According to the provided information, the property has low annual taxes of $3,785 and a strong rental history.
For buyers looking to “house hack,” Unit 1 can be occupied by the owner while Unit 2 generates rental income to help offset housing costs. As presented in the remarks, the current lease amount is intended to cover a majority of the mortgage from day one, with the opportunity to build equity through owner occupancy and ongoing rental payments. This setup can also fit investors seeking a renovated two-unit residential income property with an immediately occupiable unit.
Key Highlights
- Fully renovated duplex in Cohoes (1910) with 2,116 SF total and 6 bedrooms across both units
- Unit 1 is vacant and ready for an owner‑occupant to move in
- Unit 2 is leased for $1,700/month with a strong rental history
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
$24,433
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
7.64%
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%
$488,660
$488.7K
Cap Rate 7%
$349,043
$349.0K
Cap Rate 9%
$271,478
$271.5K
Market Conditions
NOI Build-Up for 2,116 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
$36.8K $17.40/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$34.9K $16.50/SF
− OpEx
−$10.5K −$4.95/SF
NOI
$24.4K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /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%
$488,660
Cap Rate 7%
$349,043
Cap Rate 9%
$271,478
Alternative Uses
Best Use
Multifamily LT 5
$349.0K
$305.4K – $407.2K
NOI $24,433 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$322.9K
$282.5K – $376.7K
NOI $22,602 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$660.3K
$577.8K – $770.3K
NOI $46,220 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 12047, NY
23,347
Population
10,963
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
2,653
Density / Sq Mi
$66,970
Median Household Income
$46,476
Median Earnings
$1,213
Median Rent
$237,200
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 - Renovated duplex in Cohoes with one vacant unit and a second unit leased at $1,700/month.
Where is this duplex located?
The property is located at 5 Short Street Cohoes, NY.
What is the asking price?
The asking price for this property is $319,999.
What are key features of this property?
This property features: Fully renovated duplex in Cohoes (1910) with 2,116 SF total and 6 bedrooms across both units; Unit 1 is vacant and ready for an owner‑occupant to move in; Unit 2 is leased for $1,700/month with a strong rental history
