Updated Duplex with Detached
For Sale
$298,000
Pending
612 3rd St, Watervliet, NY 12189
Two-family property with separate utilities, a refreshed upper unit, and a detached garage.
Property Size2,538 SF
Days on Market57
Property Features for 612 3rd St
General Information
Standard status
Pending
Size
2,538 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,799
Amenities
detached garage
basement laundry hookups
Building Details
Buildings
1
Listing Agency:
Capital Tech Real Estate Group LLC
Listed By:
Lisa A Walsh · License #10491202654
(518) 810-6093
Source:
Exprealty
Added: Aug 21
Changed: Oct 13
Last Checked: Oct 16 at 12:59PM
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 Capital Tech Real Estate Group LLC
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Investment Insights
Based on property information with market context.
This 2,538-square-foot duplex at 612 3rd St in Watervliet, NY provides two separate residential units. The first-floor apartment is occupied by a tenant who has remained in place for 17 years and wishes to continue the tenancy. The vacant second-floor unit has a remodeled kitchen, updated bathroom, new appliances, and fresh paint.
Recent property improvements include a brand-new roof and newer energy-efficient windows. Separate utilities help distinguish the operating setup for each apartment, while appliances for both units are included in the sale. Additional features include a detached garage and basement laundry hookups.
Recent property improvements include a brand-new roof and newer energy-efficient windows. Separate utilities help distinguish the operating setup for each apartment, while appliances for both units are included in the sale. Additional features include a detached garage and basement laundry hookups.
Key Highlights
- 2,538‑square‑foot duplex with two residential units
- First‑floor tenant has 17 years of occupancy and wishes to stay
- Vacant upper unit with remodeled kitchen and updated bathroom
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
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
242
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, a refreshed upper unit, and a detached garage.
Where is this duplex located?
The property is located at 612 3rd 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 duplex with two residential units; First‑floor tenant has 17 years of occupancy and wishes to stay; Vacant upper unit with remodeled kitchen and updated bathroom
