Renovated Brick
For Sale
$279,900
6 St Marys Avenue, Troy, NY 12180
Two residential units with updated interiors, separate kitchens and baths, and Multi Residence zoning in Troy’s Little Italy neighborhood.
Property Size1,980 SF
Price / SF$141.36
Days on Market10
Property Features for 6 St Marys Avenue
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Year Renovated
2010
Buildings
1
Construction
all-brick
Listing Agency:
Carr Real Estate Group LLC
Listed By:
Richard Carr · License #10491207486
(518) 488-2434
Source:
Signatureonerealtygroup
Added: Aug 30
Changed: Sep 7
Last Checked: Sep 7 at 11:01AM
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 Carr Real Estate Group LLC
Investment Insights
Based on property information with market context.
This two-family property at 6 St Marys Avenue contains 1,980 square feet and was built in 1910. The all-brick structure was extensively renovated in 2010, with work that included electrical, plumbing, framing, floor joists, sheetrock, windows, kitchens, bathrooms, and forced-air heating systems. Each unit includes 2–3 bedrooms and one full bath, creating a practical two-unit residential configuration. The first-floor unit is vacant and ready to be rented.
The property is located in Troy’s Little Italy neighborhood, minutes from Downtown Troy, RPI College, and Prospect Park. Restaurants, shops, and entertainment are also nearby. Zoning is Multi Residence, and the property supports owner-occupancy, rental use, or multigenerational living as described in the source information.
The property is located in Troy’s Little Italy neighborhood, minutes from Downtown Troy, RPI College, and Prospect Park. Restaurants, shops, and entertainment are also nearby. Zoning is Multi Residence, and the property supports owner-occupancy, rental use, or multigenerational living as described in the source information.
Key Highlights
- 1,980‑square‑foot two‑family property at 6 St Marys Avenue
- All‑brick construction, built in 1910
- Extensive 2010 renovation included electrical, plumbing, framing, windows, kitchens, bathrooms, and heating systems
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
$22,862
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
8.17%
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%
$457,240
$457.2K
Cap Rate 7%
$326,600
$326.6K
Cap Rate 9%
$254,022
$254.0K
Market Conditions
NOI Build-Up for 1,980 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
$34.5K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$32.7K $16.50/SF
− OpEx
−$9.8K −$4.95/SF
NOI
$22.9K $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%
$457,240
Cap Rate 7%
$326,600
Cap Rate 9%
$254,022
Alternative Uses
Best Use
Multifamily LT 5
$326.6K
$285.8K – $381.0K
NOI $22,862 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$302.1K
$264.4K – $352.5K
NOI $21,149 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$617.8K
$540.6K – $720.8K
NOI $43,249 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,766
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units with updated interiors, separate kitchens and baths, and Multi Residence zoning in Troy’s Little Italy neighborhood.
Where is this duplex located?
The property is located at 6 St Marys Avenue Troy, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,980‑square‑foot two‑family property at 6 St Marys Avenue; All‑brick construction, built in 1910; Extensive 2010 renovation included electrical, plumbing, framing, windows, kitchens, bathrooms, and heating systems
