Updated
For Sale
$275,000
630 N Pearl St, Menands, NY 12204
Two-family residence with refreshed interiors, remodeled kitchen and bath, and multiple exterior improvements.
Property Size2,328 SF
Price / SF$118.13
Days on Market43
Property Features for 630 N Pearl St
General Information
Standard status
Active
Size
2,328 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Realty One Group Key
(518) 861-7016
Listed By:
Clancy Real Estate, Inc · License #10301220214
(518) 861-7016
Source:
Clancyrealestate
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 29 at 8:56AM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
Built in 1920, this duplex provides two-family residential income configuration with a range of documented updates. Improvements include fresh paint, a remodeled kitchen and bath, hardwood flooring, a replacement water heater, a new driveway, gutters, a back fence, and updated porch railings. The first-floor porch has also been remodeled, while the full exterior was painted in 2024.
The property is located at 630 N Pearl Street in Menands, with convenient access to highways, hospitals, and restaurants. Its two-family layout supports either owner occupancy or an investment-oriented use, as described for the property.
The property is located at 630 N Pearl Street in Menands, with convenient access to highways, hospitals, and restaurants. Its two-family layout supports either owner occupancy or an investment-oriented use, as described for the property.
Key Highlights
- Two‑family duplex built in 1920
- Exterior fully painted in 2024
- Remodeled kitchen and bath with hardwood floors
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
$23,780
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
8.65%
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%
$475,600
$475.6K
Cap Rate 7%
$339,714
$339.7K
Cap Rate 9%
$264,222
$264.2K
Market Conditions
NOI Build-Up for 2,328 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
$46.1K $19.80/SF
− Vacancy
−$2.9K −$1.23/SF
EGI
$43.2K $18.57/SF
− OpEx
−$19.5K −$8.36/SF
NOI
$23.8K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$475,600
Cap Rate 7%
$339,714
Cap Rate 9%
$264,222
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.4K – $441.9K
NOI $26,512 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$339.7K
$297.3K – $396.3K
NOI $23,780 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$614.2K
$537.4K – $716.6K
NOI $42,994 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
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-family residence with refreshed interiors, remodeled kitchen and bath, and multiple exterior improvements.
Where is this duplex located?
The property is located at 630 N Pearl St Menands, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑family duplex built in 1920; Exterior fully painted in 2024; Remodeled kitchen and bath with hardwood floors
