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    Updated Two-Family Duplex Title is generated by Realmo AI

    22 Morris Street, Albany, NY 12208

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    For Sale
    $315,000

    MULTI_FAMILY - Other - Albany, NY

    Property size:
    2,524 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $124/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 22 Morris Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 3
    Parking features
    Off Street
    Basement
    Full
    Standard status
    Active
    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
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1912
    Number of units
    2
    Flooring type
    Hardwood, Tile
    Building materials
    Aluminum Siding, Vinyl Siding
    Roof type
    Slate
    Architectural style
    Other

    We can help!

    Listing Contact
    Basak Kurd

    Listing agent Basak Kurd License #10401386191

    Listing office KW Platform 935 New Loudon Rd, Latham, NY

    Listing date Jun 3, 2026

    MLS# 202618790 Listing URL

    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.

    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
    • Separate water and electrical systems in place to support potential expansion
    • First‑floor unit is month‑to‑month tenant occupied; second‑floor unit is vacant
    • Walking distance to Albany Medical Center, Albany College of Pharmacy, and Albany Law School

    Overview

    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.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Skin Care Clinic Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.769513
    Latitude
    42.651358

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    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
    (518) 360-5090
    We can help!
    Listing Contact
    Basak Kurd
    Real Estate License ID: 10401386191
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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.

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