3-Unit Triplex with Fenced
For Sale
$395,000
249 Manning Boulevard, Albany, NY 12206
MultiFamily, Albany, NY
Property Size2,520 SF
Lot Size0.13 Acres
Price / SF$156.75
Days on Market11
Property Features for 249 Manning Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Multi Residence
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6
Parking
4
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Paddle Fan, Built-in Features, Crown Molding
Fireplace
1
Basement
Full, Walk-Out Access
Lot features
Sloped
Elementary school
Pine Hills
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Washington Ave to Manning Blvd. Manning is between Washington and Central Ave.
Standard status
Active
APN
010100 64.35-4-35
Size
2,520 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
7287
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
private porch
fenced yard
Building Details
Year built
1920
Number of units
3
Flooring type
Hardwood
Building materials
Aluminum Siding, Wood Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Red Door Realty NY Inc
(518) 899-9500
Listed By:
Robin R Boice · License #10401307703
(518) 932-1771
Added: Sep 25
Changed: Oct 2
Last Checked: Oct 5 at 5:06PM
MLS# 202626984
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 1920 triplex contains 2,520 square feet across three apartments. The first-floor unit has a four- to five-bedroom layout; two one-bedroom apartments occupy the second floor, each with its own porch. Interior details include hardwood flooring, crown molding, built-in features, and a fireplace. The property also has a fenced yard and off-street parking.
The 0.13-acre parcel is zoned Multi Residence. Public water and sewer serve the property, and natural gas provides hot water heating. Colleges, hospitals, shopping, and restaurants are among the nearby amenities.
The 0.13-acre parcel is zoned Multi Residence. Public water and sewer serve the property, and natural gas provides hot water heating. Colleges, hospitals, shopping, and restaurants are among the nearby amenities.
Key Highlights
- Three apartments: one first‑floor unit with 4 to 5 bedrooms and two second‑floor one‑bedroom units
- 2,520 square feet of property area
- 0.13‑acre parcel zoned Multi Residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,699
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,980
$574.0K
Cap Rate 7%
$409,986
$410.0K
Cap Rate 9%
$318,878
$318.9K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$43.8K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.0K $16.27/SF
− OpEx
−$12.3K −$4.88/SF
NOI
$28.7K $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 Rate 5%
$573,980
Cap Rate 7%
$409,986
Cap Rate 9%
$318,878
Alternative Uses
Best Use
Multifamily LT 5
$410.0K
$358.7K – $478.3K
NOI $28,699 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$367.7K
$321.8K – $429.0K
NOI $25,741 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$664.8K
$581.7K – $775.7K
NOI $46,539 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The first-floor residence has four to five bedrooms, while each of the two upper apartments has one bedroom and a porch.
Where is this triplex located?
The property is located at 249 Manning Boulevard Albany, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three apartments: one first‑floor unit with 4 to 5 bedrooms and two second‑floor one‑bedroom units; 2,520 square feet of property area; 0.13‑acre parcel zoned Multi Residence
