Victorian Duplex with Three-Car
For Sale
$329,000
8 Sherman Avenue, Glens Falls, NY 12801
Two apartments offer separate laundry, utilities, and off-street parking in a historic residential income property.
Property Size2,390 SF
Price / SF$137.66
Days on Market10
Property Features for 8 Sherman Avenue
General Information
Standard status
Active
Size
2,390 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Amenities
hardwood floors
front porch
in-unit laundry
Building Details
Year Built
1890
Construction
Victorian
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Lynn Wadleigh
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 25
Changed: Jul 31
Last Checked: Aug 2 at 2:39PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This 1890 Victorian duplex contains two separate apartments within a 2,390-square-foot home. The lower-level apartment includes 3 bedrooms and a large kitchen, while the upstairs apartment offers 1 bedroom and a bonus room suitable for an office or nursery. Hardwood floors and a large front porch add character to the property, and each unit has its own laundry and separate utilities.
The property includes public utilities, off-street parking, and a detached modern 3-car garage. Both units are occupied by long-term tenants. Located at 8 Sherman Avenue in Glens Falls, the property is close to restaurants, shopping, and community events in the downtown area.
The property includes public utilities, off-street parking, and a detached modern 3-car garage. Both units are occupied by long-term tenants. Located at 8 Sherman Avenue in Glens Falls, the property is close to restaurants, shopping, and community events in the downtown area.
Key Highlights
- 2,390‑square‑foot Victorian duplex built in 1890
- Lower‑level apartment with 3 bedrooms and a large kitchen
- Upstairs apartment with 1 bedroom and a bonus room
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.6k | $14.04 |
| − Vacancy | −$2.3k | −$0.98 |
| EGI | $31.2k | $13.06 |
| − OpEx | −$9.4k | −$3.92 |
| NOI | $21.8k | $9.14 |
2,390 SF · lease $14.04/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$312.1K
$273.1K – $364.1K
NOI $21,845 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$284.7K
$249.1K – $332.2K
NOI $19,930 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$715.4K
$625.9K – $834.6K
NOI $50,075 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,142
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
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 apartments offer separate laundry, utilities, and off-street parking in a historic residential income property.
Where is this duplex located?
The property is located at 8 Sherman Avenue Glens Falls, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,390‑square‑foot Victorian duplex built in 1890; Lower‑level apartment with 3 bedrooms and a large kitchen; Upstairs apartment with 1 bedroom and a bonus room
