Renovated Brick
New
For Sale
$279,900
6 St Marys Avenue, Troy, NY 12180
MultiFamily, Troy, NY
Property Size1,980 SF
Lot Size0.04 Acres
Price / SF$141.36
Days on Market2
Property Features for 6 St Marys Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4
Window features
Double Pane Windows, ENERGY STAR Qualified WIndows
Patio and Porch features
Porch, Patio
Interior features
Walk-In Closet(s), Built-in Features
Fencing
Chain Link
Basement
Unfinished, Walk-Out Access, Interior Entry, Exterior Entry, Full
Lot features
Road Frontage
View
City
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Google maps
Standard status
Active
APN
381700 101.69-19-10.1
Size
1,980 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2889
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Carpet, Vinyl, Tile - Ceramic
Building materials
Brick
Roof type
Flat, Rubber
Listing Agency:
Carr Real Estate Group LLC
Listed By:
Richard Carr · License #10491207486
(518) 488-2434
Added: Sep 2
Last Checked: Sep 3 at 1:06PM
MLS# 202625259
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit residential property at 6 St Marys Avenue is a 1,980-square-foot brick duplex originally built in 1910. A substantial renovation in 2010 addressed the electrical and plumbing systems, framing, floor joists, sheetrock, windows, kitchens, bathrooms, and forced-air heating. Each apartment includes two to three bedrooms and one full bathroom, with carpet, vinyl, and ceramic tile flooring. Interior features include built-in elements and walk-in closets, while exterior amenities include a porch, patio, and chain-link fencing.
The property sits on a 0.04-acre lot in Troy’s Little Italy neighborhood, near Downtown Troy, local restaurants, shops, entertainment, RPI College, and Prospect Park. Public water and public sewer serve the building. Heating is provided by natural gas forced air, with window-unit cooling. The first-floor apartment is vacant and ready for rental, while the duplex format supports owner occupancy, multi-generational use, or separate residential leasing.
The property sits on a 0.04-acre lot in Troy’s Little Italy neighborhood, near Downtown Troy, local restaurants, shops, entertainment, RPI College, and Prospect Park. Public water and public sewer serve the building. Heating is provided by natural gas forced air, with window-unit cooling. The first-floor apartment is vacant and ready for rental, while the duplex format supports owner occupancy, multi-generational use, or separate residential leasing.
Key Highlights
- 1,980‑square‑foot duplex on a 0.04‑acre lot
- Two units, each with 2‑3 bedrooms and one full bathroom
- Extensive 2010 renovation included major building systems and interior components
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units with updated systems, flexible bedroom layouts, and public utilities in a walkable Troy setting.
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 duplex on a 0.04‑acre lot; Two units, each with 2‑3 bedrooms and one full bathroom; Extensive 2010 renovation included major building systems and interior components
