South Glens Falls
For Sale
$225,000
Pending
8 4th Street, South Glens Falls, NY 12803
Tenant-occupied duplex with consistent income in desirable location.
Property Size1,646 SF
Days on Market99
Property Features for 8 4th Street
General Information
Standard status
Pending
Size
1,646 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex
Taxes and HOA fees
Annual Taxes
$2,599
Amenities
Asphalt
Window Unit(s), Yes
Forced Air, Natural Gas, Yes
Bilco Doors, Interior Entry
Carpet, Ceramic Tile, Linoleum
Vinyl Siding
Laundry Room, Main Level
Building Details
Year Built
1930
Listing Agency:
KW Platform
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Source:
Compass
Added: May 22
Changed: Aug 8
Last Checked: Jul 24 at 1:50PM
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 KW Platform
Investment Insights
Based on property information with market context.
This over-under duplex in South Glens Falls features two units, providing two income streams. Both units are occupied with established tenants, generating consistent monthly income. The first floor offers a 2-bedroom, 1-bath layout, while the second floor features a 1-bedroom, 1-bath layout. Parking is available on both sides of the home. A spacious backyard includes a shed. The property features new plumbing throughout. Both water heaters have been replaced within the last 4 years. The first-floor furnace is approximately 7-8 years old, and a new monitor heater is installed in the second-floor unit. The roof is approximately 10 years old, and foundation wall work has been completed in the basement. All appliances stay, including the washer and dryer in the first-floor unit. The property is located across from Glens Falls, with quick access to Route 9, downtown dining, shopping, and employment. The location offers the convenience of the city without the city price tag. The property size is 1,646 square feet. This two-family property is tenant-occupied, and showings are available only on Saturdays from 12pm-2pm.
Key Highlights
- Income‑generating duplex with established tenants.
- Desirable South Glens Falls location, near amenities and Route 9.
- Solid mechanicals: newer plumbing, water heaters, furnace, and roof.
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
$15,045
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
6.69%
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%
$300,900
$300.9K
Cap Rate 7%
$214,929
$214.9K
Cap Rate 9%
$167,167
$167.2K
Market Conditions
NOI Build-Up for 1,646 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
$23.1K $14.04/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$21.5K $13.06/SF
− OpEx
−$6.4K −$3.92/SF
NOI
$15.0K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /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%
$300,900
Cap Rate 7%
$214,929
Cap Rate 9%
$167,167
Alternative Uses
Best Use
Multifamily LT 5
$214.9K
$188.1K – $250.8K
NOI $15,045 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$196.1K
$171.6K – $228.8K
NOI $13,726 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$492.7K
$431.1K – $574.8K
NOI $34,487 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 12803, NY
8,990
Population
3,819
Households
2.4
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
1,474
Density / Sq Mi
$80,913
Median Household Income
$42,782
Median Earnings
$1,194
Median Rent
$222,600
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 - Tenant-occupied duplex with consistent income in desirable location.
Where is this duplex located?
The property is located at 8 4th Street South Glens Falls, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Income‑generating duplex with established tenants.; Desirable South Glens Falls location, near amenities and Route 9.; Solid mechanicals: newer plumbing, water heaters, furnace, and roof.
