Two-Family Duplex with New
For Sale
$293,000
15 Zoar Avenue, Albany, NY 12209
MultiFamily, Albany, NY
Property Size2,208 SF
Lot Size0.05 Acres
Price / SF$132.70
Days on Market48
Property Features for 15 Zoar Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1
Parking
2
Patio and Porch features
Porch
Interior features
Ceramic Tile Bath
Fencing
Chain Link
Basement
Unfinished
Elementary school
New Scotland Elementary
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Delaware Ave to Albion Ave to Zoar
Standard status
Active
APN
010100 75.67-2-61
Size
2,208 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4067
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1907
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Carpet
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
518 Realty.Com Inc
(518) 456-6518
Listed By:
Tammy Sbardella · License #10401346651
(518) 330-4207
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 31 at 7:06PM
MLS# 202621819
Copyright © 2026 Global MLS, Inc. 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-family duplex contains 2,208 square feet on a 0.05-acre lot and dates to 1907. The property includes five bedrooms and two bathrooms, with ceramic tile, vinyl, and carpet flooring. A new front porch and refreshed second-floor walls and paint are among the recent improvements. Vinyl siding, an asphalt roof, chain-link fencing, and a natural gas heating system complete the principal physical features.
The property is located in Albany near the Delmar and Bethlehem area, with schools, shopping, and restaurants nearby. Public water and public sewer serve the property. The room inventory includes five bedrooms and two bathrooms, while the floor plan offers flexibility for a buyer seeking to rework the interior arrangement.
The property is located in Albany near the Delmar and Bethlehem area, with schools, shopping, and restaurants nearby. Public water and public sewer serve the property. The room inventory includes five bedrooms and two bathrooms, while the floor plan offers flexibility for a buyer seeking to rework the interior arrangement.
Key Highlights
- Two‑family duplex with 2,208 square feet of building area
- 0.05‑acre Albany property built in 1907
- Five bedrooms and two bathrooms
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
$25,145
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
8.58%
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%
$502,900
$502.9K
Cap Rate 7%
$359,214
$359.2K
Cap Rate 9%
$279,389
$279.4K
Market Conditions
NOI Build-Up for 2,208 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
$38.4K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$35.9K $16.27/SF
− OpEx
−$10.8K −$4.88/SF
NOI
$25.1K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
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%
$502,900
Cap Rate 7%
$359,214
Cap Rate 9%
$279,389
Alternative Uses
Best Use
Multifamily LT 5
$359.2K
$314.3K – $419.1K
NOI $25,145 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$582.5K
$509.7K – $679.6K
NOI $40,777 @ 7.0% cap · market cap 13.92%
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
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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 - Recent porch construction and second-floor improvements add updated elements to this Albany residential income property.
Where is this duplex located?
The property is located at 15 Zoar Avenue Albany, NY.
What is the asking price?
The asking price for this property is $293,000.
What are key features of this property?
This property features: Two‑family duplex with 2,208 square feet of building area; 0.05‑acre Albany property built in 1907; Five bedrooms and two bathrooms
