Brick Duplex with Garden
For Sale
$445,000
339 Hamilton Street, Albany, NY 12210
MultiFamily, Albany, NY
Property Size2,280 SF
Lot Size0.05 Acres
Price / SF$195.18
Days on Market47
Property Features for 339 Hamilton Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3
Security features
Security
Fireplace
1
Basement
Apartment
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
make a turn onto Hamilton st, property on the left
Standard status
Active
APN
010100 76.32-2-58
Size
2,280 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8345
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Ductless (Heating)
Cooling system
Ductless, Central Air
Water source
Public
Building Details
Year built
1850
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
Real Broker NY LLC
(855) 450-0442
Listed By:
Stela Koeva · License #10401345420
(518) 694-1027
Added: Jul 7
Changed: Aug 22
Last Checked: Aug 22 at 10:06PM
MLS# 202621173
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 1850, this 2,280-square-foot brick duplex includes a two-story three-bedroom, two-bath main residence and a separate one-bedroom garden apartment. The primary unit offers an open kitchen and dining area, oversized windows, high ceilings, exposed interior brick, hardwood flooring, central air, newer appliances, a private back deck, and second-floor laundry. Its primary suite includes a private bath with a jetted tub. The garden apartment has its own entrance, in-unit laundry, updated bathroom, ductless heating and air conditioning, and a private rear deck.
The property occupies 0.05 acres at 339 Hamilton Street in Albany’s Center Square neighborhood, near restaurants, cafes, and entertainment. Public water and public sewer serve the property. Separate utilities are in place, and furniture is included.
The property occupies 0.05 acres at 339 Hamilton Street in Albany’s Center Square neighborhood, near restaurants, cafes, and entertainment. Public water and public sewer serve the property. Separate utilities are in place, and furniture is included.
Key Highlights
- 2,280‑square‑foot duplex on 0.05 acres
- Main residence includes 3 bedrooms and 2 full baths across two stories
- Separate 1‑bedroom garden apartment with private entrance and in‑unit laundry
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
$25,965
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
5.83%
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%
$519,300
$519.3K
Cap Rate 7%
$370,929
$370.9K
Cap Rate 9%
$288,500
$288.5K
Market Conditions
NOI Build-Up for 2,280 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
$39.7K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.1K $16.27/SF
− OpEx
−$11.1K −$4.88/SF
NOI
$26.0K $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%
$519,300
Cap Rate 7%
$370,929
Cap Rate 9%
$288,500
Alternative Uses
Best Use
Multifamily LT 5
$370.9K
$324.6K – $432.8K
NOI $25,965 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$332.7K
$291.1K – $388.2K
NOI $23,290 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$601.5K
$526.3K – $701.8K
NOI $42,107 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
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?
Duplex - Two-unit property with separate utilities, private decks, and central air.
Where is this duplex located?
The property is located at 339 Hamilton Street Albany, NY.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,280‑square‑foot duplex on 0.05 acres; Main residence includes 3 bedrooms and 2 full baths across two stories; Separate 1‑bedroom garden apartment with private entrance and in‑unit laundry
