Two-Home Residential Income
For Sale
$104,000
60 Wilson Avenue, South Glens Falls, NY 12803
For sale single lot with two separate residences, both cleaned out and largely gutted, plus yard and an oversized shed.
Property Size855 SF
Price / SF$121.64
Days on Market51
Property Features for 60 Wilson Avenue
General Information
Standard status
Active
Size
855 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
Multi Residence
Taxes and HOA fees
Annual Taxes
$2,960
Building Details
Year Built
1920
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Lisa C Ostrander
(518) 744-6513
Source:
Capmarkrealty
Added: Jul 20
Changed: Sep 8
Last Checked: Aug 25 at 3:37AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This for-sale residential income property includes two homes on one lot, each presented as a renovation opportunity. The main house is a two-story structure positioned toward the rear of the property with three bedrooms upstairs, and a first-floor layout that includes a living room, dining room, kitchen, and a full bathroom. The second home is a smaller ranch structure with an open living space, a kitchenette, and a bathroom.
The property has been fully cleaned out and largely gutted, offering a blank slate for restoration. Additional site features include a large yard and an oversized shed, providing extra outdoor space and storage for whichever layout is ultimately completed.
With two separate dwellings already on the lot, the site supports multiple finished configurations once renovations are completed.
The property has been fully cleaned out and largely gutted, offering a blank slate for restoration. Additional site features include a large yard and an oversized shed, providing extra outdoor space and storage for whichever layout is ultimately completed.
With two separate dwellings already on the lot, the site supports multiple finished configurations once renovations are completed.
Key Highlights
- Single lot with two separate residences: a 2‑story main house and a smaller ranch structure
- Main house layout: 3 bedrooms upstairs, plus living room, dining room, kitchen, and 1 full bath on the first floor
- Second home features an open living space, kitchenette, and bathroom (guest house, rental, or studio potential)
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
$7,815
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
7.51%
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%
$156,300
$156.3K
Cap Rate 7%
$111,643
$111.6K
Cap Rate 9%
$86,833
$86.8K
Market Conditions
NOI Build-Up for 855 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
$12.0K $14.04/SF
− Vacancy
−$840 −$0.98/SF
EGI
$11.2K $13.06/SF
− OpEx
−$3.3K −$3.92/SF
NOI
$7.8K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /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%
$156,300
Cap Rate 7%
$111,643
Cap Rate 9%
$86,833
Alternative Uses
Best Use
Multifamily LT 5
$111.6K
$97.7K – $130.3K
NOI $7,815 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$101.9K
$89.1K – $118.8K
NOI $7,130 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$255.9K
$223.9K – $298.6K
NOI $17,914 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 12803, NY
8,990
Population
3,819
Households
2.4
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
1,474
Density / Sq Mi
$80,913
Median Household Income
$42,782
Median Earnings
$1,194
Median Rent
$222,600
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 - For sale single lot with two separate residences, both cleaned out and largely gutted, plus yard and an oversized shed.
Where is this duplex located?
The property is located at 60 Wilson Avenue South Glens Falls, NY.
What is the asking price?
The asking price for this property is $104,000.
What are key features of this property?
This property features: Single lot with two separate residences: a 2‑story main house and a smaller ranch structure; Main house layout: 3 bedrooms upstairs, plus living room, dining room, kitchen, and 1 full bath on the first floor; Second home features an open living space, kitchenette, and bathroom (guest house, rental, or studio potential)
