Brick Triplex with Updated
For Sale
$329,900
Pending
210 Myrtle Avenue, Albany, NY 12202
Residential Income, Albany, NY
Property Size2,428 SF
Lot Size0.06 Acres
Days on Market50
Property Features for 210 Myrtle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1
Patio and Porch features
Porch
High school district
000000
Directions
Delaware Avenue to Myrtle Avenue
Standard status
Pending
APN
010100 76.39-3-3
Size
2,428 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7350
Utilities
Heating system
Electric (Heating), Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Christine M Serafini · License #40SE0980789
(518) 514-8830
Added: Jul 15
Changed: Sep 2
Last Checked: Sep 2 at 8:06AM
MLS# 11888985
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 2,428-square-foot brick triplex contains two one-bedroom apartments on the first floor and a three-bedroom apartment above. Two units are vacant, while one one-bedroom apartment is occupied. Interior features include hardwood flooring, tile, wood detailing, bay windows, and updated kitchens and bathrooms. A porch adds exterior space, and the property was built in 1900.
Major building improvements completed within the last 4 years include HVAC, roofing, electrical work, and some replacement windows. Utilities are separately metered, with tenants responsible for heat and hot water. The property occupies 0.06 acres in Albany, NY, and is served by public water. Its three-unit configuration provides flexibility for continued rental use or an owner-occupant arrangement, both of which are supported by the existing layout.
Major building improvements completed within the last 4 years include HVAC, roofing, electrical work, and some replacement windows. Utilities are separately metered, with tenants responsible for heat and hot water. The property occupies 0.06 acres in Albany, NY, and is served by public water. Its three-unit configuration provides flexibility for continued rental use or an owner-occupant arrangement, both of which are supported by the existing layout.
Key Highlights
- Three‑unit layout with two 1‑bedroom apartments and one 3‑bedroom apartment
- 2,428 square feet on a 0.06‑acre lot in Albany, NY
- Major updates within the last 4 years include HVAC, roof, electric, and some replacement windows
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
$27,651
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
8.38%
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%
$553,020
$553.0K
Cap Rate 7%
$395,014
$395.0K
Cap Rate 9%
$307,233
$307.2K
Market Conditions
NOI Build-Up for 2,428 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
$42.2K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$39.5K $16.27/SF
− OpEx
−$11.9K −$4.88/SF
NOI
$27.7K $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%
$553,020
Cap Rate 7%
$395,014
Cap Rate 9%
$307,233
Alternative Uses
Best Use
Multifamily LT 5
$395.0K
$345.6K – $460.9K
NOI $27,651 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$354.3K
$310.0K – $413.4K
NOI $24,802 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$640.6K
$560.5K – $747.3K
NOI $44,840 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,640
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
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?
Triplex - Three-unit Albany property with hardwood interiors, separate utilities, and a mix of vacant and occupied apartments.
Where is this triplex located?
The property is located at 210 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Three‑unit layout with two 1‑bedroom apartments and one 3‑bedroom apartment; 2,428 square feet on a 0.06‑acre lot in Albany, NY; Major updates within the last 4 years include HVAC, roof, electric, and some replacement windows
