Building Details

Year Built 1920

Buildings 1

Listing Agency: Welcome Home Realty Group

Listed By: Brian Walters · License #30WA0832219 Show Phone

Source: Albanyprimeproperties

Added: Sep 29 Changed: Oct 1 Last Checked: Oct 1 at 10:48AM

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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 Welcome Home Realty Group

Investment Insights

Based on property information with market context.

This 2,200-square-foot duplex contains two apartments, each with two bedrooms and one full bathroom. One unit is vacant, while the owner occupies the other. The property also includes a two-car garage and sits on nearly half an acre of level land. Water service is public and shared, and the property uses a septic system; natural gas is available at the street.

The home is in Gansevoort, near downtown Saratoga Springs, Wilton Mall, South Glens Falls, and the Northway. It is within the low Wilton tax district. Built in 1920, the property has separate utilities for the two units.

Key Highlights

• Two apartments, each with 2 bedrooms and 1 full bathroom
• 2,200 square feet of building area on just under half an acre of level land
• Separate utilities; one apartment is vacant and the other is owner‑occupied

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

$29,211

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

8.99%

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%

$584,220 $584.2K

Cap Rate 7%

$417,300 $417.3K

Cap Rate 9%

$324,567 $324.6K

Market Conditions

NOI Build-Up for 2,200 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

$55.4K $25.20/SF

− Vacancy

−$2.3K −$1.06/SF

EGI

$53.1K $24.14/SF

− OpEx

−$23.9K −$10.86/SF

NOI

$29.2K $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%

$584,220

Cap Rate 7%

$417,300

Cap Rate 9%

$324,567

Alternative Uses

Best Use

Multifamily LT 5

$466.4K

$408.1K – $544.2K (±1% cap)

NOI $32,650 @ 7.0% cap · market cap 10.05%

Second Best

Apartment 5plus

$417.3K

$365.1K – $486.9K (±1% cap)

NOI $29,211 @ 7.0% cap · market cap 8.99%

Theoretical Best

Office A

$658.5K

$576.2K – $768.2K (±1% cap)

NOI $46,094 @ 7.0% cap · market cap 14.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Garden Center (Bike/Boat/Book/etc) Store Travel Agency Coworking & Hybrid Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Explore this area Business Placement

Demographics for 12831, NY

17,483

Population

7,228

Households

2.4

Avg Household Size

43

Median Age

44%

College-Educated

94%

High-School Grad

65.2 sq mi

ZIP Area

268

Density / Sq Mi

$100,833

Median Household Income

$59,278

Median Earnings

$1,361

Median Rent

$308,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - The two apartments have separate utilities, with one vacant and the other occupied by the owner.

Where is this duplex located?

The property is located at 58 Gailor Rd Gansevoort, NY.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; 2,200 square feet of building area on just under half an acre of level land; Separate utilities; one apartment is vacant and the other is owner‑occupied