Remodeled Two-Flat
For Sale
$339,900
Pending
577 6th Ave, Watervliet, NY 12189
Two finished flats feature enclosed porches, separate utilities, and tenant-paid service accounts.
Property Size2,396 SF
Days on Market50
Property Features for 577 6th Ave
General Information
Standard status
Pending
Size
2,396 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Gross Income
$45,000
Amenities
stackable washer/dryer
enclosed porches
fenced backyard
Building Details
Year Built
1870
Buildings
1
Tenancy
Multi
Listing Agency:
Chad Majewski Real Estate
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Aug 28
Changed: Oct 13
Last Checked: Oct 16 at 8:41AM
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 Chad Majewski Real Estate
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Investment Insights
Based on property information with market context.
This 2,396-square-foot duplex contains two remodeled flats, each measuring 1,200 square feet excluding the enclosed porch. Recent improvements include flooring, molding, walls, electrical systems, lighting, kitchens, bathrooms, and split heating and cooling systems. Each residence includes three bedrooms, a living area, an eat-in kitchen with pantry, a full bathroom, walk-in closets, and a closet equipped for a stackable washer and dryer.
The property includes a fenced backyard and off-street parking for one to two vehicles in tandem. Utilities are separately metered and paid by the tenants. Both units are occupied, and current certificates of occupancy are in place. The building was constructed in 1870.
The property includes a fenced backyard and off-street parking for one to two vehicles in tandem. Utilities are separately metered and paid by the tenants. Both units are occupied, and current certificates of occupancy are in place. The building was constructed in 1870.
Key Highlights
- Two‑unit duplex with 2,396 SF total building area
- Each flat offers 1,200 SF, excluding enclosed porches
- Both flats include 3 bedrooms, eat‑in kitchens, full baths, and walk‑in closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,666
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,320
$553.3K
Cap Rate 7%
$395,229
$395.2K
Cap Rate 9%
$307,400
$307.4K
Market Conditions
NOI Build-Up for 2,396 SF
Gross rent
$41.7K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$39.5K $16.50/SF
− OpEx
−$11.9K −$4.95/SF
NOI
$27.7K $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 Rate 5%
$553,320
Cap Rate 7%
$395,229
Cap Rate 9%
$307,400
Alternative Uses
Best Use
Multifamily LT 5
$395.2K
$345.8K – $461.1K
NOI $27,666 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$365.6K
$319.9K – $426.6K
NOI $25,593 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$747.7K
$654.2K – $872.3K
NOI $52,336 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 12189, NY
18,970
Population
9,887
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
3,060
Density / Sq Mi
$62,763
Median Household Income
$48,555
Median Earnings
$1,084
Median Rent
$199,600
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
Frequently Asked Questions
What type of property is this?
Duplex - Two finished flats feature enclosed porches, separate utilities, and tenant-paid service accounts.
Where is this duplex located?
The property is located at 577 6th Ave Watervliet, 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: Two‑unit duplex with 2,396 SF total building area; Each flat offers 1,200 SF, excluding enclosed porches; Both flats include 3 bedrooms, eat‑in kitchens, full baths, and walk‑in closets
