Saratoga Home Near
For Sale
Contact for pricing
56 Henry St, Saratoga Springs, NY 12866
Steps from Broadway, ideal for Airbnb or residential use.
Property Size1,536 SF
Price / SF$445.96
Days on Market171
Property Features for 56 Henry St
General Information
Standard status
Active
Size
1,536 SF
Total Parking Spaces
2
Property subtype
Multifamily
Building Details
Year Built
1868
Buildings
1
Stories
2
Units
1
Listing Agency:
KW Platform
(518) 281-6808
Listed By:
Scott Varley · License #NY 30VA0727304
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 18 at 9:10PM
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 KW Platform
Investment Insights
Based on property information with market context.
Located just two blocks from Broadway, this property offers proximity to downtown Saratoga's amenities, including the library, Solevo, Caffè Lena, and Caroline Street. The home has been used as an Airbnb, providing visitors with access to the Saratoga experience. It retains some classic Victorian charm, with a front porch suitable for enjoying the downtown atmosphere. While there is no off-street parking, street parking is available along Henry Street or Lafayette Street. The yard is suitable for outdoor living. The 1,536 square foot property is ready for residential or investment use.
Key Highlights
- Prime Location: Just two blocks from Broadway, placing you steps away from downtown Saratoga's attractions, dining, and nightlife.
- Proven Airbnb Success: Previously used as a successful Airbnb, offering immediate income potential.
- Classic Victorian Charm: Retains original Victorian features, providing a unique Saratoga experience.
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
$20,395
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
2.98%
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%
$407,900
$407.9K
Cap Rate 7%
$291,357
$291.4K
Cap Rate 9%
$226,611
$226.6K
Market Conditions
NOI Build-Up for 1,536 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
$38.7K $25.20/SF
− Vacancy
−$1.6K −$1.06/SF
EGI
$37.1K $24.14/SF
− OpEx
−$16.7K −$10.86/SF
NOI
$20.4K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$407,900
Cap Rate 7%
$291,357
Cap Rate 9%
$226,611
Alternative Uses
Best Use
Apartment 5plus
$291.4K
$254.9K – $339.9K
NOI $20,395 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$459.7K
$402.3K – $536.4K
NOI $32,182 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
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?
Short term rental property - Steps from Broadway, ideal for Airbnb or residential use.
Where is this short term rental property located?
The property is located at 56 Henry St Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Prime Location: Just two blocks from Broadway, placing you steps away from downtown Saratoga's attractions, dining, and nightlife.; Proven Airbnb Success: Previously used as a successful Airbnb, offering immediate income potential.; Classic Victorian Charm: Retains original Victorian features, providing a unique Saratoga experience.
