Duplex with
New
For Sale
$259,000
503 Saratoga Street, Cohoes, NY 12047
Two-unit property with one remodeled apartment, off-street parking, and a separate barn/outbuilding.
Property Size2,020 SF
Price / SF$128.22
Days on Market7
Property Features for 503 Saratoga Street
General Information
Standard status
Active
Size
2,020 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
off-street parking
front porch
yard
barn/outbuilding
washer/dryer hookups
Building Details
Year Built
1930
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Kyle A Durni
(518) 469-0526
Source:
Signatureonerealtygroup
Added: Sep 8
Changed: Sep 13
Last Checked: Sep 14 at 7:35AM
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 2,020-square-foot duplex, built in 1930, includes two apartments with matching layouts: two bedrooms, one full bathroom, living space, and washer/dryer hookups in each unit. The second unit has updated flooring, fresh interior paint, a tiled bathroom, and an included washer and dryer. A spacious front porch adds shared outdoor space, while off-street parking supports the property’s residential configuration.
The parcel also includes a large, flat yard and a barn/outbuilding that provides additional storage or work space. Mechanical updates include a boiler installed in 2008 and hot water tanks installed in 2019 and 2020. The property is located near shops, restaurants, everyday amenities, and public transportation in Cohoes, New York.
The parcel also includes a large, flat yard and a barn/outbuilding that provides additional storage or work space. Mechanical updates include a boiler installed in 2008 and hot water tanks installed in 2019 and 2020. The property is located near shops, restaurants, everyday amenities, and public transportation in Cohoes, New York.
Key Highlights
- Duplex with 2,020 square feet and two 2‑bedroom, 1‑bathroom units
- Unit #2 updated with newer flooring, fresh paint, tiled bathroom, and washer/dryer
- Washer/dryer hookups provided in both units
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
$23,324
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
9.01%
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%
$466,480
$466.5K
Cap Rate 7%
$333,200
$333.2K
Cap Rate 9%
$259,156
$259.2K
Market Conditions
NOI Build-Up for 2,020 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
$35.1K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$33.3K $16.50/SF
− OpEx
−$10.0K −$4.95/SF
NOI
$23.3K $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%
$466,480
Cap Rate 7%
$333,200
Cap Rate 9%
$259,156
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$308.2K
$269.7K – $359.6K
NOI $21,577 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$630.3K
$551.5K – $735.4K
NOI $44,123 @ 7.0% cap · market cap 17.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
136
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with one remodeled apartment, off-street parking, and a separate barn/outbuilding.
Where is this duplex located?
The property is located at 503 Saratoga Street Cohoes, NY.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Duplex with 2,020 square feet and two 2‑bedroom, 1‑bathroom units; Unit #2 updated with newer flooring, fresh paint, tiled bathroom, and washer/dryer; Washer/dryer hookups provided in both units
