Income-Generating Duplex with Large
For Sale
$147,500
97 Library Avenue, Warrensburg, NY 12885
Income-producing duplex on a 1.43-acre lot, offering flexibility to rent or live in one unit.
Property Size800 SF
Lot Size1.43 Acres
Price / SF$184.38
Days on Market688
Property Features for 97 Library Avenue
General Information
Standard status
Active
Size
800 SF
Total Parking Spaces
4
Lot size
1.43 Acres
Property subtype
Multi Family / Duplex
Zoning
Mixed
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,500
Amenities
Metal
None, No
Propane, Propane Tank Owned, Yes
Crawl Space, None
Carpet, Linoleum
Clapboard
Yes
Garden
Carbon Monoxide Detector(s), Fire Alarm
Building Details
Year Built
1930
Listing Agency:
Wendy Davis Real Estate
Listed By:
Wendy Davis · License #10371201970
(518) 232-0014
Source:
Compass
Added: Oct 18, 2024
Changed: Aug 8
Last Checked: Jul 20 at 6:00PM
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 Wendy Davis Real Estate
Investment Insights
Based on property information with market context.
Located at 97 Library Avenue, this income-producing duplex sits on 1.43 acres. The property is configured as a duplex, providing the option to rent the units or occupy the home while keeping income in place.
The seller’s remarks note that the large lot supports possibilities beyond the existing duplex, including the ability to live in the property while planning for a future home or additional homes on the same parcel.
For buyers seeking a residential income property with room to think long-term, this duplex on a substantial lot offers straightforward versatility with the existing rental component.
The seller’s remarks note that the large lot supports possibilities beyond the existing duplex, including the ability to live in the property while planning for a future home or additional homes on the same parcel.
For buyers seeking a residential income property with room to think long-term, this duplex on a substantial lot offers straightforward versatility with the existing rental component.
Key Highlights
- Income‑producing duplex on 1.43 acres with flexibility to rent or live in one unit
- Year built 1930
- Metal 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
$7,312
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
4.96%
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%
$146,240
$146.2K
Cap Rate 7%
$104,457
$104.5K
Cap Rate 9%
$81,244
$81.2K
Market Conditions
NOI Build-Up for 800 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
$11.2K $14.04/SF
− Vacancy
−$786 −$0.98/SF
EGI
$10.4K $13.06/SF
− OpEx
−$3.1K −$3.92/SF
NOI
$7.3K $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%
$146,240
Cap Rate 7%
$104,457
Cap Rate 9%
$81,244
Alternative Uses
Best Use
Multifamily LT 5
$104.5K
$91.4K – $121.9K
NOI $7,312 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$95.3K
$83.4K – $111.2K
NOI $6,671 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$239.5K
$209.5K – $279.4K
NOI $16,762 @ 7.0% cap · market cap 11.36%
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
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 12885, NY
4,371
Population
2,724
Households
1.6
Avg Household Size
46
Median Age
17%
College-Educated
84%
High-School Grad
80.3 sq mi
ZIP Area
54
Density / Sq Mi
$65,454
Median Household Income
$49,245
Median Earnings
$1,042
Median Rent
$149,000
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 - Income-producing duplex on a 1.43-acre lot, offering flexibility to rent or live in one unit.
Where is this duplex located?
The property is located at 97 Library Avenue Warrensburg, NY.
What is the asking price?
The asking price for this property is $147,500.
What are key features of this property?
This property features: Income‑producing duplex on 1.43 acres with flexibility to rent or live in one unit; Year built 1930; Metal roof
