Updated Duplex with Detached
For Sale
$298,000
Pending
612 Twenty Third St, Watervliet, NY 12189
Two-family property with separate utilities, renovated upper-level finishes, and a long-term first-floor tenant.
Property Size2,538 SF
Days on Market55
Property Features for 612 Twenty Third St
General Information
Standard status
Pending
Size
2,538 SF
Property subtype
Multi-Family
Building Details
Year Built
1880
Listing Agency:
Country Boy Realty
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Aug 23
Changed: Oct 15
Last Checked: Oct 16 at 8:13AM
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 Country Boy Realty
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Investment Insights
Based on property information with market context.
This two-family residence offers 2,538 square feet across two units, with separate utilities serving each apartment. The property was built in 1880 and includes a detached garage, basement laundry hookups, and appliances for both units. A new roof and newer energy-efficient windows are among the major improvements.
The first-floor apartment is occupied by a tenant who has been in place for 17 years and wishes to remain. The upper apartment is vacant and has been refreshed with a remodeled kitchen, updated bathroom, new appliances, and fresh paint, providing a ready-to-occupy residential unit.
The first-floor apartment is occupied by a tenant who has been in place for 17 years and wishes to remain. The upper apartment is vacant and has been refreshed with a remodeled kitchen, updated bathroom, new appliances, and fresh paint, providing a ready-to-occupy residential unit.
Key Highlights
- 2,538‑square‑foot two‑family property built in 1880
- Separate utilities for each unit
- First‑floor tenant has 17 years of occupancy and wishes to stay
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,109
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,180
$542.2K
Cap Rate 7%
$387,271
$387.3K
Cap Rate 9%
$301,211
$301.2K
Market Conditions
NOI Build-Up for 2,538 SF
Gross rent
$51.8K $20.40/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$49.3K $19.42/SF
− OpEx
−$22.2K −$8.74/SF
NOI
$27.1K $10.68/SF
Area
Albany County, NY
Vacancy
4.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,180
Cap Rate 7%
$387,271
Cap Rate 9%
$301,211
Alternative Uses
Best Use
Multifamily LT 5
$418.6K
$366.3K – $488.4K
NOI $29,305 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$387.3K
$338.9K – $451.8K
NOI $27,109 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$792.0K
$693.0K – $924.0K
NOI $55,438 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
140
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with separate utilities, renovated upper-level finishes, and a long-term first-floor tenant.
Where is this duplex located?
The property is located at 612 Twenty Third St Watervliet, NY.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: 2,538‑square‑foot two‑family property built in 1880; Separate utilities for each unit; First‑floor tenant has 17 years of occupancy and wishes to stay
