Duplex with Separate
1061 Madison Avenue Albany, NY 12208
1061 Madison Avenue, Albany, NY, 12208
$239,900
Pending
For Sale
$239,900
Pending
MULTI_FAMILY - Albany, NY
Property Size2,050 SF
Lot Size0.08 Acres
Days on Market76
Property Features for 1061 Madison Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 2
- Patio and Porch features
- Porch
- Standard status
- Pending
- APN
- 010100 64.59-2-17
- Size
- 2,050 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6520
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Hardwood, Laminate, Tile
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
Listing Agency
Miranda Real Estate Group Inc
(518) 348-2060
1482 Rt 9, Clifton Park, NY
Listed by
Christopher Maley
(518) 348-2060
Added: May 7 Updated: Jul 18 at 2:35 am Checked: Jul 21 at 12:06 am
MLS# 11743136
Listing URL
Copyright © 2026 My State MLS. 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 duplex includes two residential units with separate utilities. The first-floor unit features hardwood floors and a practical, functional layout. The upstairs unit is described as a spacious 4-bedroom, 1-bath arrangement with an airy living room, high ceilings, and oversized windows providing natural light. The property also includes a fenced-in backyard. The seller advises that photos were taken when the property was vacant, and the duplex is being sold as-is.
The property is located at 1061 Madison Avenue in Albany, New York. Public remarks note it sits directly across from the Madison Theater and is within walking distance to shops, parks, hospitals, and the entertainment along Madison Ave. An existing upstairs lease is scheduled to end August 1st.
For buyers or operators, this setup can support flexible occupancy, including living in one unit while renting the other, given the two separate residential spaces and utility separation. The as-is sale condition and the near-term lease expiration for the upstairs unit are important factors for planning showings, budgeting, and next steps for unit operations.
The property is located at 1061 Madison Avenue in Albany, New York. Public remarks note it sits directly across from the Madison Theater and is within walking distance to shops, parks, hospitals, and the entertainment along Madison Ave. An existing upstairs lease is scheduled to end August 1st.
For buyers or operators, this setup can support flexible occupancy, including living in one unit while renting the other, given the two separate residential spaces and utility separation. The as-is sale condition and the near-term lease expiration for the upstairs unit are important factors for planning showings, budgeting, and next steps for unit operations.
Key Highlights
- Duplex built in 1900 with vinyl siding and an asphalt roof
- Upstairs unit: 4 bedrooms, 1 bathroom; hardwood and laminate flooring
- First‑floor unit features hardwood flooring and a practical layout
Local Financial Insights For Apartment 5plus
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 | $40.6k | $19.80 |
| − Vacancy | −$2.5k | −$1.23 |
| EGI | $38.1k | $18.57 |
| − OpEx | −$17.1k | −$8.36 |
| NOI | $20.9k | $10.21 |
2,050 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.8K – $389.1K
NOI $23,346 @ 7.0% cap · market cap 9.73%
Second Best
Apartment 5plus
$299.1K
$261.8K – $349.0K
NOI $20,940 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$540.8K
$473.2K – $631.0K
NOI $37,859 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex offers a hardwood-floor first unit and a spacious upstairs 4-bed home with separate utilities and fenced yard.
Where is this duplex located?
The property is located at 1061 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Duplex built in 1900 with vinyl siding and an asphalt roof; Upstairs unit: 4 bedrooms, 1 bathroom; hardwood and laminate flooring; First‑floor unit features hardwood flooring and a practical layout
