Duplex With Attached
For Sale
$345,900
66 Salem St, Greenwich, NY 12834
Separate living areas offer flexibility for rental use, multigenerational living, or guests.
Property Size3,044 SF
Price / SF$113.63
Days on Market47
Property Features for 66 Salem St
General Information
Standard status
Active
Size
3,044 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Realty One Group Key
(518) 861-7016
Listed By:
Clancy Real Estate, Inc · License #10491213597
(518) 861-7016
Source:
Clancyrealestate
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 26 at 12:34PM
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.
This duplex property at 66 Salem Street includes a 4-bedroom, 1.5-bath primary residence and an attached 1-bedroom, 1-bath apartment. The two living areas provide distinct space for rental use, multigenerational occupancy, or visiting guests. The property contains 3,044 square feet and was built in 1900.
Exterior features include a large yard, paved driveway, and additional parking area behind the home. The property is near the Battenkill River, with access to fishing, kayaking, and other outdoor recreation, while village amenities are also nearby.
Exterior features include a large yard, paved driveway, and additional parking area behind the home. The property is near the Battenkill River, with access to fishing, kayaking, and other outdoor recreation, while village amenities are also nearby.
Key Highlights
- 4‑bedroom, 1.5‑bath main residence
- Attached 1‑bedroom, 1‑bath apartment
- 3,044 square feet on the property
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
$31,425
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
9.08%
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%
$628,500
$628.5K
Cap Rate 7%
$448,929
$448.9K
Cap Rate 9%
$349,167
$349.2K
Market Conditions
NOI Build-Up for 3,044 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
$60.3K $19.80/SF
− Vacancy
−$3.1K −$1.03/SF
EGI
$57.1K $18.77/SF
− OpEx
−$25.7K −$8.45/SF
NOI
$31.4K $10.32/SF
Area
Washington County, NY
Vacancy
5.20%
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%
$628,500
Cap Rate 7%
$448,929
Cap Rate 9%
$349,167
Alternative Uses
Best Use
Multifamily LT 5
$503.5K
$440.6K – $587.4K
NOI $35,244 @ 7.0% cap · market cap 10.19%
Second Best
Apartment 5plus
$448.9K
$392.8K – $523.8K
NOI $31,425 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$755.2K
$660.8K – $881.1K
NOI $52,863 @ 7.0% cap · market cap 15.28%
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
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 12834, NY
6,396
Population
2,996
Households
2.1
Avg Household Size
47
Median Age
29%
College-Educated
95%
High-School Grad
84.6 sq mi
ZIP Area
76
Density / Sq Mi
$82,931
Median Household Income
$49,513
Median Earnings
$1,154
Median Rent
$234,900
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 - Separate living areas offer flexibility for rental use, multigenerational living, or guests.
Where is this duplex located?
The property is located at 66 Salem St Greenwich, NY.
What is the asking price?
The asking price for this property is $345,900.
What are key features of this property?
This property features: 4‑bedroom, 1.5‑bath main residence; Attached 1‑bedroom, 1‑bath apartment; 3,044 square feet on the property
