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Listed by Joseph P Cardinale • Howard Hanna Capital Inc
$ 225,000
Est. payment /mo
New
1302 5th Avenue Troy, NY 12180
6 Beds
1 Bath
1,625 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,625 sqft
Price per Sqft $138
MLS Listing ID 202624811
Bedrooms 6
Full Baths 1
HOA Y/N No
Year Built 1910
Annual Tax Amount $3,883
Lot Size 1,306 Sqft
Acres 0.03
Property Sub-Type Duplex
Source Global MLS
Property Description
Investors and owner-occupants, take notice! Located at 1302 5th Avenue in Troy, this two-family property offers two 3-bedroom, 1-bath units and an excellent opportunity for rental income in a convenient Capital Region location. Both units feature a kitchen, living room, full bath, refrigerator, stove and washer/dryer hookups. Separate electric and gas utilities provide an attractive setup for investors, with tenants responsible for cable, electricity and heat. The property also offers forced-air heating, a walk-out basement, public water and sewer, 100-amp electrical service and a level 0.23-acre lot. Expected market rents were discussed at approximately $1,300-$1,600 per month per unit. Current cap-rate projections discussed range from approximately 10.2% at the low-market scenario to 13.4% at the high-market scenario, with an estimated cap rate of 11.8%. Buyers should independently verify rental income, expenses and cap-rate calculations.
The property is ideally positioned near downtown Troy and the popular Little Italy neighborhood, offering convenient access to restaurants, shopping, entertainment, employment centers and city amenities. Located within the Troy City School District, residents have access to Troy's public school system. Recreation is nearby, including Frear Park with golf, tennis, fields, playgrounds and seasonal activities, as well as Prospect Park and its outdoor amenities. With two 3-bedroom units, separate utilities and strong rental potential, 1302 5th Avenue offers versatility for investors seeking income-producing real estate or owner-occupants looking to offset housing costs. Light staging can help showcase the vacant rooms, layout and potential of each unit.
The property is ideally positioned near downtown Troy and the popular Little Italy neighborhood, offering convenient access to restaurants, shopping, entertainment, employment centers and city amenities. Located within the Troy City School District, residents have access to Troy's public school system. Recreation is nearby, including Frear Park with golf, tennis, fields, playgrounds and seasonal activities, as well as Prospect Park and its outdoor amenities. With two 3-bedroom units, separate utilities and strong rental potential, 1302 5th Avenue offers versatility for investors seeking income-producing real estate or owner-occupants looking to offset housing costs. Light staging can help showcase the vacant rooms, layout and potential of each unit.
Location
State NY
County Rensselaer
Direction Ferry St. to right on 5th Avenue
Interior
Heating Forced Air
Exterior
Exterior Feature None
Parking Features None
Roof Type Flat,Rubber
Porch None
Building
Lot Description Level
Sewer Public Sewer
Water Public
Architectural Style Other
Schools
School District Troy
Others
Tax ID 381700 101.69-13-17
Special Listing Condition Standard
Virtual Tour https://13025thavenuetroyny12180.josephcardinaleteambrochures.com
