Albany Duplex: Modern Investment
For Sale
$449,900
Pending
36 2nd Street, Albany, NY 12210
MULTI_FAMILY - Other - Albany, NY
Property Size3,416 SF
Lot Size0.20 Acres
Days on Market143
Property Features for 36 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
6
Full bathrooms
5
Half bathrooms
2
Rooms
Bedroom 4, Bathroom 5, Bedroom 2, Bathroom 7, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 6
Parking
4
Parking features
Driveway, Off Street
Patio and Porch features
Deck
Basement
Interior Entry, Partial, Full, Unfinished
Lot features
Level, Cleared
View
City
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Ten Broeck Triangle are, turn right on Ten Broeck Street, turn left on 2nd Street, 36 2nd Street will be on your right.
Standard status
Pending
APN
010100 65.82-1-39
Size
3,416 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3247
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2014
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Flat
Architectural style
Other
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 439-9600
Listed By:
Bahrija Basic · License #10401361924
(518) 331-6443
Added: Mar 20
Changed: Jul 24
Last Checked: Aug 9 at 12:06PM
MLS# 202613653
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 newer construction duplex, built in 2014, is located in Albany's townhouse district. The well-maintained property offers modern living with investment or owner occupant potential. Each unit provides approximately 1,700 square feet of living space. The thoughtfully designed layouts include 2 bedrooms, 2 full bathrooms, and 1 half bath. The units feature open layouts, abundant natural light, and the convenience of in-unit laundry on each floor. Situated on two lots, the property offers potential for conversion to a three-unit building, pending approvals. The property is conveniently located near downtown Albany, major highways, restaurants, and local amenities. The total property size is 3,416 square feet, and the lot size is 0.2 acres.
Key Highlights
- Newer duplex built in 2014 with approximately 1,700 SF of living space per unit
- Unit layout: 2 bedrooms, 2 full bathrooms, and 1 half bath; in‑unit laundry on each floor
- Central air with forced‑air heating using natural gas
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
$38,902
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
8.65%
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%
$778,040
$778.0K
Cap Rate 7%
$555,743
$555.7K
Cap Rate 9%
$432,244
$432.2K
Market Conditions
NOI Build-Up for 3,416 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
$59.4K $17.40/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$55.6K $16.27/SF
− OpEx
−$16.7K −$4.88/SF
NOI
$38.9K $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%
$778,040
Cap Rate 7%
$555,743
Cap Rate 9%
$432,244
Alternative Uses
Best Use
Multifamily LT 5
$555.7K
$486.3K – $648.4K
NOI $38,902 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$498.5K
$436.2K – $581.6K
NOI $34,894 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$901.2K
$788.6K – $1.05M
NOI $63,087 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,533
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 - Newer duplex in Albany with investment or owner-occupant potential.
Where is this duplex located?
The property is located at 36 2nd Street Albany, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Newer duplex built in 2014 with approximately 1,700 SF of living space per unit; Unit layout: 2 bedrooms, 2 full bathrooms, and 1 half bath; in‑unit laundry on each floor; Central air with forced‑air heating using natural gas
