Updated Triplex with New
For Sale
$339,900
516 4TH Street, Troy, NY 12180
Freshly painted triplex with hardwood floors and new appliances, currently vacant and easy to show.
Property Size2,838 SF
Price / SF$119.77
Days on Market113
Property Features for 516 4TH Street
General Information
Standard status
Active
Size
2,838 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Amenities
hardwood floors
new appliances
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Signature One Realty Group LLC
Listed By:
Tiffany D'Agostino
(518) 376-3970
Source:
Signatureonerealtygroup
Added: May 18
Changed: Sep 6
Last Checked: Sep 6 at 9:53AM
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 Signature One Realty Group LLC
Investment Insights
Based on property information with market context.
This updated triplex has been freshly painted and features hardwood floors throughout. Units include new appliances, and the property offers spacious layouts. The building is vacant, making it easy to show.
Located in Troy, the property is just minutes from Hudson Valley Community College and RPI, with access to Sage College public transportation. It’s also near popular restaurants, shopping, and other downtown Troy amenities.
The seller notes the option to purchase this triplex individually or as part of a package with triplex 283 4th.
Located in Troy, the property is just minutes from Hudson Valley Community College and RPI, with access to Sage College public transportation. It’s also near popular restaurants, shopping, and other downtown Troy amenities.
The seller notes the option to purchase this triplex individually or as part of a package with triplex 283 4th.
Key Highlights
- Updated triplex with freshly painted interiors
- Hardwood floors and new appliances throughout
- Units are currently vacant, making it easy to show
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
$30,314
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
8.92%
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%
$606,280
$606.3K
Cap Rate 7%
$433,057
$433.1K
Cap Rate 9%
$336,822
$336.8K
Market Conditions
NOI Build-Up for 2,838 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
$57.9K $20.40/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$55.1K $19.42/SF
− OpEx
−$24.8K −$8.74/SF
NOI
$30.3K $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 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%
$606,280
Cap Rate 7%
$433,057
Cap Rate 9%
$336,822
Alternative Uses
Best Use
Multifamily LT 5
$468.1K
$409.6K – $546.2K
NOI $32,769 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$433.1K
$378.9K – $505.2K
NOI $30,314 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$885.6K
$774.9K – $1.03M
NOI $61,991 @ 7.0% cap · market cap 18.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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?
Triplex - Freshly painted triplex with hardwood floors and new appliances, currently vacant and easy to show.
Where is this triplex located?
The property is located at 516 4TH Street Troy, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Updated triplex with freshly painted interiors; Hardwood floors and new appliances throughout; Units are currently vacant, making it easy to show
