Riverfront Duplex with
For Sale
$385,000
Pending
83 2nd Avenue, Troy, NY 12180
Rebuilt two-unit property with separate kitchens, laundry, and water-facing outdoor spaces.
Property Size2,608 SF
Days on Market237
Property Features for 83 2nd Avenue
General Information
Standard status
Pending
Size
2,608 SF
Property subtype
Multi Family / Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
private patios/decks
in-unit washer/dryer
gas fireplace
skylights
Shingle, Asphalt
Forced Air, Natural Gas, Yes
Exterior Entry
Vinyl, Tile
Yes
Solid Surface Counters, High Speed Internet
Gas, Living Room
Vinyl Siding
In Bathroom
Deck, Patio
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Empire Real Estate Firm LLC
(518) 598-9824
Listed By:
Marisa Moffatt · License #10491213692
(518) 598-9824
Source:
Compass
Added: Jan 6
Changed: Aug 30
Last Checked: Aug 30 at 3:27PM
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 Empire Real Estate Firm LLC
Investment Insights
Based on property information with market context.
This 2,608-square-foot duplex at 83 2nd Avenue in Troy includes two residential units with distinct layouts. The first floor offers 3 bedrooms, 1 full bathroom, an open living area with a gas fireplace, an eat-in kitchen with an island and stainless steel appliances, LVP flooring, and an in-unit washer and dryer. The second floor provides 3 bedrooms, 2 full bathrooms, a gas fireplace, skylights, an eat-in kitchen with island and stainless steel appliances, tile flooring, and in-unit laundry. The property was completely rebuilt and also has a new roof, new siding, updated lighting, and refreshed flooring.
Private decks and patios overlook the water, while forced-air natural gas heating supports the interior. The property is located in the Lansingburgh School District and was originally built in 1960.
Private decks and patios overlook the water, while forced-air natural gas heating supports the interior. The property is located in the Lansingburgh School District and was originally built in 1960.
Key Highlights
- Two‑unit duplex with 3‑bedroom layouts in both residences
- First‑floor unit has 1 full bathroom; second‑floor unit has 2 full bathrooms
- 2,608 square feet with complete reconstruction and updated finishes
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
$30,114
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
7.82%
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%
$602,280
$602.3K
Cap Rate 7%
$430,200
$430.2K
Cap Rate 9%
$334,600
$334.6K
Market Conditions
NOI Build-Up for 2,608 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
$45.4K $17.40/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$43.0K $16.50/SF
− OpEx
−$12.9K −$4.95/SF
NOI
$30.1K $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%
$602,280
Cap Rate 7%
$430,200
Cap Rate 9%
$334,600
Alternative Uses
Best Use
Multifamily LT 5
$430.2K
$376.4K – $501.9K
NOI $30,114 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$398.0K
$348.2K – $464.3K
NOI $27,857 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$813.8K
$712.1K – $949.5K
NOI $56,967 @ 7.0% cap · market cap 14.80%
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
264
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 - Rebuilt two-unit property with separate kitchens, laundry, and water-facing outdoor spaces.
Where is this duplex located?
The property is located at 83 2nd Avenue Troy, NY.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom layouts in both residences; First‑floor unit has 1 full bathroom; second‑floor unit has 2 full bathrooms; 2,608 square feet with complete reconstruction and updated finishes
