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    17 N Lake Ave Albany, NY 12203

    Sponsored
    For Sale
    $219,000

    Multi-Unit (2-4), Traditional - Albany, NY

    Property size:
    1,888 SF
    Lot size:
    0.05 Acres
    Days on Market:
    39
    Last Refresh:
    Jan 30 at 12:06 pm

    Property Features for 17 N Lake Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Dining Room, Family Room, Kitchen, Living Room
    Bedrooms
    4
    Bathrooms
    2
    APN
    000000-065.000-0002-060.000
    Parking features
    Garage
    Basement Y/N
    1
    Appliances
    Dryer, Refrigerator
    Size
    1,888 SF
    Lot size
    0.05 Acres

    Utilities

    Heating system
    Baseboard, Electric (Heating), Forced Air, Natural Gas

    Building Details

    Year built
    1900
    Year renovated
    1900
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood, Laminate
    Building materials
    Vinyl Siding
    Roof type
    Rubber
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Heather Casaw
    Heather Casaw

    COLDWELL BANKER PRIME PROPERTIES (315) 768-1680

    Listing agent Heather Casaw (518) 793-4488

    Listing date Dec 23, 2025

    MLS# 11578606 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.

    Learn more

    Property Insight Report

    Overview

    Well-Maintained Multi-Family Near University

    This well-maintained two-family home is located directly across from the University at Albany's Downtown Campus and offers convenient access to public transportation via the bus line. Each floor features a spacious 2-bedroom, 1-bath layout with separate utilities and month-to-month leases. The upstairs unit currently rents for $1,296 per month, while the downstairs unit rents for $1,000 per month, with the tenant responsible for garbage, lawn care, and snow removal. The property size is 1888 square feet and the lot size is 0.05 acres. The upstairs apartment is heated by electric baseboards and features a new oven installed in 2025. The downstairs unit has a new gas forced hot air furnace installed in 2025, along with existing electric baseboard heat. The kitchen in the lower unit has been updated with a new hood and refrigerator in 2024. Both units have access to a stackable washer and dryer located in the foyer; the dryer is working. New windows were installed in the downstairs apartment in 2023, and the roof was resealed in August 2024. All new OC permits have just been issued, making this property move-in ready and compliant. This property offers strong rental potential in a high-demand area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.773988
    Latitude
    42.661613

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    FAQs

    What type of property is this?
    Duplex - Two-family home near University at Albany Downtown Campus.
    Where is this duplex located?
    The property is located at 17 N Lake Ave Albany, NY.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: - Prime location directly across from the University at Albany's Downtown Campus.; - Two separate units with existing month-to-month leases providing immediate rental income.; - Separate utilities for each unit.
    (518) 253-1580
    Request Owner's contact information
    17 N Lake Ave Albany, NY 12203
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    Albany, NY 12203
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    17 N Lake Ave Albany, NY 12203
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    We can help!
    Listing Contact
    Heather Casaw
    Heather Casaw
    (518) 253-1580
    Learn more
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