Duplex with Original
New
For Sale
$314,900
264 Manning Boulevard, Albany, NY 12206
MultiFamily, Albany, NY
Property Size2,756 SF
Lot Size0.09 Acres
Price / SF$114.26
Days on Market1
Property Features for 264 Manning Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 3, Bedroom 4
Patio and Porch features
Porch
Interior features
High Speed Internet, Built-in Features, Ceramic Tile Bath
Basement
Full
Lot features
Corner Lot
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Washington Avenue to Manning Boulevard. Property is located at the corner of Manning Boulevard and McKinley Street.
Standard status
Active
APN
010100 64.35-4-26
Size
2,756 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
6122
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
fenced-in front yard
front porch
backyard
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood, Tile, Wood
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Clancy Real Estate
(518) 861-7016
Listed By:
Kevin Clancy · License #37CL1081409
(518) 461-9937
Added: Sep 9
Last Checked: Sep 9 at 11:06PM
MLS# 202625736
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.
Built in 1920, this two-family duplex contains 2,756 square feet on a 0.09-acre corner lot. Both residences feature three bedrooms, one full bathroom, an updated kitchen, hardwood and tile flooring, original woodwork, and coffered ceilings. The first-floor unit is occupied and separately metered, while the upper unit is vacant for immediate use by a new resident or operator.
Exterior features include a fenced front yard, covered porch, and backyard. The property has aluminum and vinyl siding, an asphalt shingle roof, forced-air natural gas heat, and window-unit cooling. Public water and public sewer serve the home, which is located on Manning Boulevard in Albany.
Exterior features include a fenced front yard, covered porch, and backyard. The property has aluminum and vinyl siding, an asphalt shingle roof, forced-air natural gas heat, and window-unit cooling. Public water and public sewer serve the home, which is located on Manning Boulevard in Albany.
Key Highlights
- Two‑family duplex with 2,756 square feet of total property size
- Each unit includes 3 bedrooms, 1 full bathroom, and an updated kitchen
- First‑floor residence is tenant‑occupied; second‑floor residence will be delivered vacant
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
$28,152
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
8.94%
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%
$563,040
$563.0K
Cap Rate 7%
$402,171
$402.2K
Cap Rate 9%
$312,800
$312.8K
Market Conditions
NOI Build-Up for 2,756 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
$54.6K $19.80/SF
− Vacancy
−$3.4K −$1.23/SF
EGI
$51.2K $18.57/SF
− OpEx
−$23.0K −$8.36/SF
NOI
$28.2K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$563,040
Cap Rate 7%
$402,171
Cap Rate 9%
$312,800
Alternative Uses
Best Use
Multifamily LT 5
$448.4K
$392.3K – $523.1K
NOI $31,386 @ 7.0% cap · market cap 9.97%
Second Best
Apartment 5plus
$402.2K
$351.9K – $469.2K
NOI $28,152 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$727.1K
$636.2K – $848.3K
NOI $50,898 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
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
Check the figures for this property
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?
Duplex - Corner-lot property with separate utilities, classic interior details, and a vacant second-floor residence.
Where is this duplex located?
The property is located at 264 Manning Boulevard Albany, NY.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Two‑family duplex with 2,756 square feet of total property size; Each unit includes 3 bedrooms, 1 full bathroom, and an updated kitchen; First‑floor residence is tenant‑occupied; second‑floor residence will be delivered vacant
