Duplex With Basement And Attic
For Sale
$369,500
Pending
816 Park Avenue, Albany, NY 12208
MultiFamily, Albany, NY
Property Size2,472 SF
Lot Size0.10 Acres
Days on Market47
Property Features for 816 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 1
Parking
1
Parking features
Driveway
Basement
Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
South Main to Park
Standard status
Pending
APN
010100 64.67-3-44
Size
2,472 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
7433
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Brokers Network
(518) 952-0665
Listed By:
Dun Zhuo Zheng · License #10401235201
(518) 292-8817
Added: Aug 10
Changed: Sep 12
Last Checked: Sep 25 at 7:06PM
MLS# 202623671
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 duplex contains 2,472 square feet on a 0.1-acre lot and was built in 1920. Each unit includes three bedrooms, a living room, formal dining room, large kitchen, and full bathroom. Hardwood flooring, vinyl siding, hot-water heating, and natural gas service are among the property’s documented features. A full basement provides additional space, while the third floor is identified for storage or possible expansion. The asphalt roof was replaced in July 2026.
The property is located at 816 Park Avenue in Albany, New York 12208. Public water and public sewer serve the residence, and parking is provided by a driveway. The duplex configuration and six total bedrooms support both owner-occupant and investor-oriented use, as reflected in the listing information.
The property is located at 816 Park Avenue in Albany, New York 12208. Public water and public sewer serve the residence, and parking is provided by a driveway. The duplex configuration and six total bedrooms support both owner-occupant and investor-oriented use, as reflected in the listing information.
Key Highlights
- Duplex with 2,472 square feet on a 0.1‑acre lot
- Two units, each with 3 bedrooms, living room, formal dining room, large kitchen, and full bathroom
- Full basement plus third floor designated for storage or expansion
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
$28,152
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
7.62%
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%
$563,040
$563.0K
Cap Rate 7%
$402,171
$402.2K
Cap Rate 9%
$312,800
$312.8K
Market Conditions
NOI Build-Up for 2,472 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
$43.0K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.2K $16.27/SF
− OpEx
−$12.1K −$4.88/SF
NOI
$28.2K $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%
$563,040
Cap Rate 7%
$402,171
Cap Rate 9%
$312,800
Alternative Uses
Best Use
Multifamily LT 5
$402.2K
$351.9K – $469.2K
NOI $28,152 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$360.7K
$315.6K – $420.9K
NOI $25,251 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$652.2K
$570.7K – $760.9K
NOI $45,653 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residence with hardwood floors, driveway parking, and separate living, dining, and kitchen areas in each unit.
Where is this duplex located?
The property is located at 816 Park Avenue Albany, NY.
What is the asking price?
The asking price for this property is $369,500.
What are key features of this property?
This property features: Duplex with 2,472 square feet on a 0.1‑acre lot; Two units, each with 3 bedrooms, living room, formal dining room, large kitchen, and full bathroom; Full basement plus third floor designated for storage or expansion
