Renovated Brick Two-Family Investment
For Sale
$299,999
Pending
8 St Marys Avenue, Troy, NY 12180
MultiFamily, Troy, NY
Property Size2,100 SF
Lot Size0.03 Acres
Days on Market134
Property Features for 8 St Marys Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Patio and Porch features
Porch
Interior features
Paddle Fan, High Speed Internet, Walk-In Closet(s), Ceramic Tile Bath, Chair Rail
Fireplace
1
Basement
Full, Unfinished
Lot features
Road Frontage
Elementary school district
Troy
Middle school district
Troy
High school district
Troy
Directions
Hill Street to Washington St to St Marys.
Standard status
Pending
APN
381700 101.69-19-15
Size
2,100 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2880
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Tamara S DeMartino · License #10401259632
(518) 649-5910
Added: Apr 10
Changed: Aug 20
Last Checked: Aug 21 at 1:06AM
MLS# 202614847
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a renovated, solid brick two-family property that is fully rented and leased. It is located on a quiet street near Prospect Park in Troy, New York. The property offers an investment opportunity in a convenient location. The building has new furnaces and hot water heaters installed in 2024. The property size is 2100 square feet and the lot size is 0.03 acres.
Key Highlights
- Solid brick 2‑family home built in 1910, fully rented and leased
- New furnaces and hot water heaters installed in 2024
- Forced‑air natural gas heating with public utilities: public water and public sewer
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
$24,248
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
8.08%
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%
$484,960
$485.0K
Cap Rate 7%
$346,400
$346.4K
Cap Rate 9%
$269,422
$269.4K
Market Conditions
NOI Build-Up for 2,100 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
$36.5K $17.40/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$34.6K $16.50/SF
− OpEx
−$10.4K −$4.95/SF
NOI
$24.2K $11.55/SF
Area
Albany County, NY
Vacancy
5.20%
Lease Rate
$17.40 /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%
$484,960
Cap Rate 7%
$346,400
Cap Rate 9%
$269,422
Alternative Uses
Best Use
Multifamily LT 5
$346.4K
$303.1K – $404.1K
NOI $24,248 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$320.4K
$280.4K – $373.9K
NOI $22,431 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$655.3K
$573.4K – $764.5K
NOI $45,870 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 12180, NY
55,907
Population
25,527
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
90%
High-School Grad
56.2 sq mi
ZIP Area
995
Density / Sq Mi
$73,767
Median Household Income
$41,787
Median Earnings
$1,188
Median Rent
$233,000
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 - Fully rented, renovated brick two-family near Prospect Park, Troy, NY.
Where is this duplex located?
The property is located at 8 St Marys Avenue Troy, NY.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Solid brick 2‑family home built in 1910, fully rented and leased; New furnaces and hot water heaters installed in 2024; Forced‑air natural gas heating with public utilities: public water and public sewer
