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    Two-Family Property Near Albany Medical

    59 Dana Avenue Albany, NY 12208

    Claim this Listing
    Pending
    $295,000

    MULTI_FAMILY - Other - Albany, NY

    Property size:
    2,552 SF
    Lot size:
    0.04 Acres
    Added:
    May 11, 2026
    Days on Market:
    64
    Last Refresh:
    Jul 13 at 3:06 am

    Property Features for 59 Dana Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    2
    Rooms
    Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 8, Bedroom 5, Bedroom 1
    Basement
    Full
    Standard status
    Pending
    APN
    010100 76.23-1-34
    Size
    2,552 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3438

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Baseboard
    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    2
    Flooring type
    Hardwood, Tile
    Building materials
    Aluminum Siding
    Roof type
    Rubber
    Architectural style
    Other

    Listing agent Paul T Fontane License #40FO0943140

    Listing office Coldwell Banker Prime Properties 1345 New Scotland Road, Green Island, NY

    Listing date May 11, 2026

    MLS# 202616845 Listing URL

    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 two-family property presents a strong income-producing opportunity. The property generates $4,521 per month and features separate utilities, updated kitchens, and baths. Long-term Section 8 tenants are currently on month-to-month leases, offering both stability and flexibility for potential investors. The property is centrally located just blocks from Albany Medical Center, St. Peter's Hospital, Albany Law School, and Albany College of Pharmacy. The lot size is 0.04 acres, and the property size is 2,552 square feet. It is located in Albany, NY.

    Key Highlights

    • Two‑family property generating $4,521 per month with separate utilities
    • Long‑term Section 8 tenants on month‑to‑month leases
    • Updated kitchens and bathrooms

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $50.5k $19.80
    − Vacancy −$3.1k −$1.23
    EGI $47.4k $18.57
    − OpEx −$21.3k −$8.36
    NOI $26.1k $10.21
    2,552 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $415.2K
    $363.3K – $484.4K (±1% cap)
    NOI $29,063 @ 7.0% cap · market cap 9.85%
    Second Best
    Apartment 5plus
    $372.4K
    $325.9K – $434.5K (±1% cap)
    NOI $26,068 @ 7.0% cap · market cap 8.84%
    Theoretical Best
    Office A
    $673.3K
    $589.1K – $785.5K (±1% cap)
    NOI $47,130 @ 7.0% cap · market cap 15.98%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Carpet & Flooring Store Building Supply Electrical Service Auto Parts Store Kitchen & Bath Showroom Furniture & Home Goods Pet Grooming Service (Bike/Boat/Book/etc) Store Home Appliance Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Well-maintained two-family property near Albany Medical Center.
    Where is this duplex located?
    The property is located at 59 Dana Avenue Albany, NY.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: Two‑family property generating $4,521 per month with separate utilities; Long‑term Section 8 tenants on month‑to‑month leases; Updated kitchens and bathrooms
    Contact an agent
    (518) 506-6937
    We can help!
    Contact an agent
    Paul T Fontane
    Real Estate License ID: 40FO0943140
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