Updated Three-Family
For Sale
$380,000
472 Hudson Avenue, Albany, NY 12203
MultiFamily, Albany, NY
Property Size3,197 SF
Lot Size0.06 Acres
Price / SF$118.86
Days on Market51
Property Features for 472 Hudson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 7, Bedroom 4, Bedroom 9, Bedroom 10, Bedroom 6, Bathroom 3, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Basement
Full
Elementary school
Pine Hills
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
quail street to Hudson property on the left
Standard status
Active
APN
010100 65.61-3-45
Size
3,197 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8055
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Number of units
3
Flooring type
Vinyl, Wood, Tile
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Rubber, Asphalt
Architectural style
Other
Listing Agency:
Re Max Solutions · RE/MAX International
(518) 720-3400
Listed By:
Jonathan Lanahan · License #10401298349
(315) 749-8596
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 2:06PM
MLS# 202621496
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 three-family triplex at 472 Hudson Avenue contains 3,197 square feet with 10 bedrooms and 3 bathrooms. Built in 1920, the property has received many recent updates and combines aluminum and vinyl siding with tile, wood, and vinyl flooring. Heating is provided by a hot-water system, while the roof materials include rubber and asphalt.
The property occupies 0.06 acres in Albany’s student neighborhood, with area colleges located minutes away. Public water and public sewer serve the building, and cable is available. Its three-family configuration and bedroom count provide a substantial residential layout for an income-property buyer.
The property occupies 0.06 acres in Albany’s student neighborhood, with area colleges located minutes away. Public water and public sewer serve the building, and cable is available. Its three-family configuration and bedroom count provide a substantial residential layout for an income-property buyer.
Key Highlights
- Three‑family triplex with 10 bedrooms and 3 bathrooms
- 3,197 square feet on a 0.06‑acre lot
- Many recent updates throughout the property
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
$32,657
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
8.59%
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%
$653,140
$653.1K
Cap Rate 7%
$466,529
$466.5K
Cap Rate 9%
$362,856
$362.9K
Market Conditions
NOI Build-Up for 3,197 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
$63.3K $19.80/SF
− Vacancy
−$3.9K −$1.23/SF
EGI
$59.4K $18.57/SF
− OpEx
−$26.7K −$8.36/SF
NOI
$32.7K $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%
$653,140
Cap Rate 7%
$466,529
Cap Rate 9%
$362,856
Alternative Uses
Best Use
Multifamily LT 5
$520.1K
$455.1K – $606.8K
NOI $36,408 @ 7.0% cap · market cap 9.58%
Second Best
Apartment 5plus
$466.5K
$408.2K – $544.3K
NOI $32,657 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$843.5K
$738.0K – $984.0K
NOI $59,042 @ 7.0% cap · market cap 15.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Updated residential income property with public water and sewer, multiple flooring types, and hot-water heating.
Where is this triplex located?
The property is located at 472 Hudson Avenue Albany, NY.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Three‑family triplex with 10 bedrooms and 3 bathrooms; 3,197 square feet on a 0.06‑acre lot; Many recent updates throughout the property
