Two-Unit Duplex with Off-Street
For Sale
$769,900
74 Walnut Street, Saratoga Springs, NY 12866
Two separately configured units include kitchens, laundry areas, and dedicated parking.
Property Size2,908 SF
Price / SF$264.75
Days on Market210
Property Features for 74 Walnut Street
General Information
Standard status
Active
Size
2,908 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,983
Amenities
laundry
Asphalt
Window Unit(s), Yes
Forced Air, Natural Gas, Yes
Exterior Entry, Full, Unfinished
Vinyl, Carpet, Hardwood
Paddle Fan, High Speed Internet, Walk-In Closet(s)
Yes
Wood Siding
Blinds
Laundry Closet, Laundry Room, Main Level, Upper Level
Smoke Detector(s), Carbon Monoxide Detector(s)
Rear Porch, Front Porch
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Julie & Co Realty, LLC
(518) 588-1392
Listed By:
Jennifer R Johnson · License #10301207891
(518) 588-1392
Source:
Compass
Added: Feb 1
Changed: Aug 30
Last Checked: Aug 30 at 2:23AM
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 Julie & Co Realty, LLC
Investment Insights
Based on property information with market context.
This 2,908-square-foot duplex, built in 1920, contains two independently arranged residences. The main-level unit offers three bedrooms, two full baths, a bonus room, dining and living areas, a large kitchen, and a dedicated laundry room. The upper residence includes three bedrooms, one full bath, a walk-in closet, living and dining rooms, a kitchen, and a laundry closet. Interior finishes include hardwood, carpet, and vinyl, with forced-air natural gas heat and window unit cooling.
Parking is divided between the residences, with a carport reached from Oak Street for the first-floor unit and two off-street driveway spaces accessed from Walnut Street for the upper unit. Front and rear porches, wood siding, smoke and carbon monoxide detectors, and high-speed internet are also included. The property is on Walnut Street in Saratoga Springs, near the Beekman Arts District, Broadway, restaurants, shops, Skidmore College, SPAC, and Saratoga Race Course.
The property has been used for student housing, track rentals, Airbnb, and 12-month leases, providing a documented range of rental formats for an investor or owner-occupant.
Parking is divided between the residences, with a carport reached from Oak Street for the first-floor unit and two off-street driveway spaces accessed from Walnut Street for the upper unit. Front and rear porches, wood siding, smoke and carbon monoxide detectors, and high-speed internet are also included. The property is on Walnut Street in Saratoga Springs, near the Beekman Arts District, Broadway, restaurants, shops, Skidmore College, SPAC, and Saratoga Race Course.
The property has been used for student housing, track rentals, Airbnb, and 12-month leases, providing a documented range of rental formats for an investor or owner-occupant.
Key Highlights
- 2,908 SF duplex built in 1920
- First‑floor unit has 3 bedrooms, 2 full baths, bonus space, large kitchen, and dedicated laundry room
- Upper unit includes 3 bedrooms, 1 full bath, walk‑in closet, kitchen, and laundry closet
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
$43,157
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
5.61%
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%
$863,140
$863.1K
Cap Rate 7%
$616,529
$616.5K
Cap Rate 9%
$479,522
$479.5K
Market Conditions
NOI Build-Up for 2,908 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
$64.6K $22.20/SF
− Vacancy
−$2.9K −$1.00/SF
EGI
$61.7K $21.20/SF
− OpEx
−$18.5K −$6.36/SF
NOI
$43.2K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$863,140
Cap Rate 7%
$616,529
Cap Rate 9%
$479,522
Alternative Uses
Best Use
Multifamily LT 5
$616.5K
$539.5K – $719.3K
NOI $43,157 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$551.6K
$482.7K – $643.5K
NOI $38,612 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$870.4K
$761.6K – $1.02M
NOI $60,928 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
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 separately configured units include kitchens, laundry areas, and dedicated parking.
Where is this duplex located?
The property is located at 74 Walnut Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: 2,908 SF duplex built in 1920; First‑floor unit has 3 bedrooms, 2 full baths, bonus space, large kitchen, and dedicated laundry room; Upper unit includes 3 bedrooms, 1 full bath, walk‑in closet, kitchen, and laundry closet
