Duplex with Fenced
For Sale
$239,900
Pending
1061 Madison Avenue, Albany, NY 12208
Residential Income, Albany, NY
Property Size2,050 SF
Lot Size0.08 Acres
Days on Market135
Property Features for 1061 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3
Patio and Porch features
Porch
High school district
000000
Directions
Madison Ave between Main and West Lawrence
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
Amenities
fenced-in backyard
Building Details
Year built
1900
Number of units
2
Flooring type
Laminate, Hardwood, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 348-2060
Listed By:
Christopher Maley · License #10401362298
(518) 698-5669
Added: May 7
Changed: Sep 14
Last Checked: Sep 18 at 4:06PM
MLS# 11743136
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 two-unit residential property contains 2,050 square feet on a 0.08-acre lot and dates to 1900. The first-floor residence includes hardwood flooring and a functional layout, while the upper unit offers four bedrooms, one bathroom, high ceilings, and large windows. Flooring throughout includes hardwood, laminate, and tile. Separate utilities serve the units, and the property also includes a fenced backyard, porch, vinyl siding, asphalt roofing, public water, and natural-gas forced-air heat.
The property is positioned across from Madison Theater, with shops, parks, hospitals, and Madison Avenue entertainment within walking distance. The upper-unit lease ends August 1st. The property is being sold as-is, and the listing photographs were taken while it was vacant.
The property is positioned across from Madison Theater, with shops, parks, hospitals, and Madison Avenue entertainment within walking distance. The upper-unit lease ends August 1st. The property is being sold as-is, and the listing photographs were taken while it was vacant.
Key Highlights
- 2,050‑square‑foot duplex on a 0.08‑acre lot
- Upper unit includes 4 bedrooms and 1 bathroom
- Separate utilities serve the two residential units
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
$20,940
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
8.73%
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%
$418,800
$418.8K
Cap Rate 7%
$299,143
$299.1K
Cap Rate 9%
$232,667
$232.7K
Market Conditions
NOI Build-Up for 2,050 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
$40.6K $19.80/SF
− Vacancy
−$2.5K −$1.23/SF
EGI
$38.1K $18.57/SF
− OpEx
−$17.1K −$8.36/SF
NOI
$20.9K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$418,800
Cap Rate 7%
$299,143
Cap Rate 9%
$232,667
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two residential units feature separate utilities, varied flooring, and a covered porch.
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: 2,050‑square‑foot duplex on a 0.08‑acre lot; Upper unit includes 4 bedrooms and 1 bathroom; Separate utilities serve the two residential units
