Two-Unit Duplex with Separate
For Sale
$325,000
Pending
631 Washington Avenue, Albany, NY 12206
MULTI_FAMILY - Other - Albany, NY
Property Size2,272 SF
Lot Size0.09 Acres
Days on Market54
Property Features for 631 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 3
Parking
3
Parking features
Off Street, Driveway
Patio and Porch features
Porch, Deck
Interior features
Paddle Fan, High Speed Internet
Basement
Full
View
City
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Washington Ave, across from Albany High football field
Standard status
Pending
APN
010100 65.45-3-31
Size
2,272 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
6659
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
1900
Number of units
2
Flooring type
Vinyl, Carpet, Hardwood
Building materials
Wood Siding
Roof type
Slate
Architectural style
Other
Listing Agency:
Gabler Realty, LLC
(518) 935-4800
Listed By:
Jennifer Eitleman · License #10301220319
(518) 364-7393
Added: Jun 12
Changed: Aug 3
Last Checked: Aug 4 at 3:06AM
MLS# 202619557
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.
Well-maintained two-family, up/down duplex at 631 Washington Avenue in Albany. The first-floor unit has three bedrooms and one full bathroom, with recent improvements including a new boiler and water heater serving that unit. The second-floor unit includes two bedrooms and one full bathroom and has an updated bathroom. Each unit has separate utilities and its own hot water system.
The basement includes two washer/dryer hookups for tenant convenience. Off-street parking is provided on-site, along with a deck and porch for outdoor space. A former garage pad remains in the backyard, offering room for future garage reconstruction or additional improvements.
Built in 1900, the property features wood siding, a slate roof, and mixed interior flooring including carpet, vinyl, and hardwood. Public water and public sewer service are available. It is zoned Multi Residence.
The basement includes two washer/dryer hookups for tenant convenience. Off-street parking is provided on-site, along with a deck and porch for outdoor space. A former garage pad remains in the backyard, offering room for future garage reconstruction or additional improvements.
Built in 1900, the property features wood siding, a slate roof, and mixed interior flooring including carpet, vinyl, and hardwood. Public water and public sewer service are available. It is zoned Multi Residence.
Key Highlights
- 0.09‑acre two‑family up/down duplex in Albany, zoned Multi Residence
- First‑floor unit: 3 bedrooms, 1 full bath; new boiler and water heater serving the unit
- Second‑floor unit: 2 bedrooms, 1 full bath; updated bathroom
Financial Insights For Multifamily LT 5
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 | $39.5k | $17.40 |
| − Vacancy | −$2.6k | −$1.13 |
| EGI | $37.0k | $16.27 |
| − OpEx | −$11.1k | −$4.88 |
| NOI | $25.9k | $11.39 |
2,272 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$331.5K
$290.1K – $386.8K
NOI $23,208 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$599.4K
$524.5K – $699.3K
NOI $41,959 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,624
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
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 duplex with separate utilities and hot water systems, off-street parking, and updates including a new boiler and water heater.
Where is this duplex located?
The property is located at 631 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 0.09‑acre two‑family up/down duplex in Albany, zoned Multi Residence; First‑floor unit: 3 bedrooms, 1 full bath; new boiler and water heater serving the unit; Second‑floor unit: 2 bedrooms, 1 full bath; updated bathroom
