Duplex with Garden
For Sale
$369,900
Pending
43 Myrtle Avenue, Albany, NY 12202
MULTI_FAMILY - Albany, NY
Property Size2,376 SF
Lot Size0.06 Acres
Days on Market76
Property Features for 43 Myrtle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 2, Bathroom 1
Parking
2
Basement
Apartment
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
from Eagke street take turn on myrtle ave; property located on the left with private drive way 2 car parking
Standard status
Pending
APN
010100 76.49-1-87
Size
2,376 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5417
Utilities
Heating system
Baseboard
Water source
Public
Building Details
Year built
1880
Number of units
2
Listing Agency:
Real Broker NY LLC
(855) 450-0442
Listed By:
Stela Koeva · License #10401345420
(518) 694-1027
Added: May 29
Changed: Jul 24
Last Checked: Aug 12 at 10:06PM
MLS# 202618381
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 well-maintained income-producing duplex at 43 Myrtle Avenue, Albany, includes a spacious main residence with 3 bedrooms and 2 full bathrooms, along with a separate garden apartment featuring 1 bedroom and 1 bathroom. The property has numerous updates and renovations and is currently operated as mid-term rentals. The listing also notes that the main floor is currently left vacant for showings, and any furniture will be left for the new owner at additional cost.
The home sits on a double lot and includes a unique two-car parking lot, which supports convenient, on-site parking for occupants.
As currently configured, the property is producing approximately $55,000 in annual rental income (as stated in the remarks). The overall presentation is described as turnkey and fully furnished for ongoing operation.
The home sits on a double lot and includes a unique two-car parking lot, which supports convenient, on-site parking for occupants.
As currently configured, the property is producing approximately $55,000 in annual rental income (as stated in the remarks). The overall presentation is described as turnkey and fully furnished for ongoing operation.
Key Highlights
- Income‑producing duplex in Albany’s historic Mansion Neighborhood, currently operated as mid‑term rentals for professionals
- Main residence: 3 bedrooms and 2 full bathrooms; garden apartment: 1 bedroom and 1 bathroom
- Annual rental income of approximately $55,000 from current operations
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
$27,059
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
7.32%
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%
$541,180
$541.2K
Cap Rate 7%
$386,557
$386.6K
Cap Rate 9%
$300,656
$300.7K
Market Conditions
NOI Build-Up for 2,376 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
$41.3K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.7K $16.27/SF
− OpEx
−$11.6K −$4.88/SF
NOI
$27.1K $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%
$541,180
Cap Rate 7%
$386,557
Cap Rate 9%
$300,656
Alternative Uses
Best Use
Multifamily LT 5
$386.6K
$338.2K – $451.0K
NOI $27,059 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$346.7K
$303.4K – $404.5K
NOI $24,270 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$626.9K
$548.5K – $731.3K
NOI $43,880 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
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 - Duplex in Albany with a 3-bedroom main unit and a 1-bedroom garden apartment, plus on-site parking.
Where is this duplex located?
The property is located at 43 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Income‑producing duplex in Albany’s historic Mansion Neighborhood, currently operated as mid‑term rentals for professionals; Main residence: 3 bedrooms and 2 full bathrooms; garden apartment: 1 bedroom and 1 bathroom; Annual rental income of approximately $55,000 from current operations
