Updated Two-Family
22 Morris Street Albany, NY 12208
22 Morris Street, Albany, NY, 12208
$315,000
Pending
For Sale
$315,000
Pending
MULTI_FAMILY - Other - Albany, NY
Property Size2,524 SF
Lot Size0.06 Acres
Days on Market50
Property Features for 22 Morris Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5
- Parking features
- Off Street
- Basement
- Full
- Standard status
- Pending
- APN
- 010100 76.31-1-71
- Size
- 2,524 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6814
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1912
- Number of units
- 2
- Flooring type
- Tile, Hardwood
- Building materials
- Aluminum Siding, Vinyl Siding
- Roof type
- Slate
- Architectural style
- Other
Listing agency
KW Platform
(518) 724-5800
Listed by
Basak Kurd · License #10401386191
(518) 360-5090
Added: Jun 3 Updated: Jun 15 at 10:38AM Checked: Jul 22 at 2:06PM
MLS# 202618790
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 updated two-family duplex offers two separate 3-bedroom, 1-bath units. The home includes several recent improvements, including a new heating system installed two years ago, renovated flooring and windows completed seven years ago, fresh interior paint, and brand-new kitchen appliances such as a refrigerator and stove. The first-floor unit is currently occupied by a month-to-month tenant, while the second-floor unit is vacant and ready for immediate occupancy or rental. Separate water and electrical systems are already in place, which can support flexibility if an expansion is pursued.
Located at 22 Morris Street in Albany, NY 12208, the property is described as walkable to Albany Medical Center, Albany College of Pharmacy, and Albany Law School. The central convenience of these nearby institutions may appeal to tenants seeking an accessible day-to-day commute.
For owner-occupants or investors, the layout provides straightforward two-unit income with the option to add value through an attic conversion that could create a third unit. With the second unit currently available and multiple updates already completed, this property may fit buyers looking to reduce near-term work while maintaining future flexibility.
Located at 22 Morris Street in Albany, NY 12208, the property is described as walkable to Albany Medical Center, Albany College of Pharmacy, and Albany Law School. The central convenience of these nearby institutions may appeal to tenants seeking an accessible day-to-day commute.
For owner-occupants or investors, the layout provides straightforward two-unit income with the option to add value through an attic conversion that could create a third unit. With the second unit currently available and multiple updates already completed, this property may fit buyers looking to reduce near-term work while maintaining future flexibility.
Key Highlights
- Updated two‑family home with 3 bedrooms and 1 full bathroom per unit
- Newer systems and finishes: heating system 2 years old; flooring and windows 7 years old
- Roof is slate; exterior features aluminum and vinyl siding
Local Financial Insights For Multifamily LT 5
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 | $43.9k | $17.40 |
| − Vacancy | −$2.9k | −$1.13 |
| EGI | $41.1k | $16.27 |
| − OpEx | −$12.3k | −$4.88 |
| NOI | $28.7k | $11.39 |
2,524 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$410.6K
$359.3K – $479.1K
NOI $28,744 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$368.3K
$322.3K – $429.7K
NOI $25,782 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$665.9K
$582.7K – $776.9K
NOI $46,613 @ 7.0% cap · market cap 14.80%
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 - Two spacious units with recent systems and finishes, plus a possible third-unit conversion in the attic.
Where is this duplex located?
The property is located at 22 Morris Street Albany, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Updated two‑family home with 3 bedrooms and 1 full bathroom per unit; Newer systems and finishes: heating system 2 years old; flooring and windows 7 years old; Roof is slate; exterior features aluminum and vinyl siding
