Multifamily Income
For Sale
$250,000
97 3rd Avenue, Albany, NY 12202
MULTI_FAMILY - Albany, NY
Property Size1,540 SF
Lot Size0.12 Acres
Price / SF$162.34
Days on Market11
Property Features for 97 3rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 3
Basement
Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Start at Albany City Hall, 24 Eagle Street. Head south on Eagle Street toward Howard Street. Turn left onto Madison Avenue. Continue for approximately 0.3 miles. Turn right onto South Pearl Street
Standard status
Active
APN
010100 76.64-2-65
Size
1,540 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
1480
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Revision Real Estate
(518) 438-2221
Listed By:
Jerome P Newkirk · License #10371200504
(518) 229-0366
Added: Jul 21
Changed: Jul 28
Last Checked: Jul 31 at 5:06AM
MLS# 202622293
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.
Offered for sale, this income-producing multifamily property is identified as a duplex/multifamily residential income opportunity with paying tenants already in place. The listing states that rental payments are already being collected, and ROPs are in place. The property is sized at 1,540 square feet on a 0.12-acre lot and is zoned for Multi Residence.
Located at 97 3rd Avenue in Albany’s South End, the property is described as providing convenient access to downtown Albany and several major local destinations, including the Empire State Plaza and Albany Medical Center. Additional nearby references in the listing include Albany Law School, Albany Capital Center, the Port of Albany, and the Albany-Rensselaer Amtrak Station. The remarks also note access to shopping, restaurants, parks, schools, and major roadways including I-787 and the New York State Thruway.
Interested buyers are encouraged to verify all information and conduct their own due diligence.
Located at 97 3rd Avenue in Albany’s South End, the property is described as providing convenient access to downtown Albany and several major local destinations, including the Empire State Plaza and Albany Medical Center. Additional nearby references in the listing include Albany Law School, Albany Capital Center, the Port of Albany, and the Albany-Rensselaer Amtrak Station. The remarks also note access to shopping, restaurants, parks, schools, and major roadways including I-787 and the New York State Thruway.
Interested buyers are encouraged to verify all information and conduct their own due diligence.
Key Highlights
- Income‑producing property with paying tenants already in place for immediate rental income
- Sewer: public sewer
- Heating: natural gas
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 | $26.8k | $17.40 |
| − Vacancy | −$1.7k | −$1.13 |
| EGI | $25.1k | $16.27 |
| − OpEx | −$7.5k | −$4.88 |
| NOI | $17.5k | $11.39 |
1,540 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,538 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,731 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$406.3K
$355.5K – $474.0K
NOI $28,441 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,135
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing multifamily property with paying tenants already in place, offered for sale in Albany, NY.
Where is this duplex located?
The property is located at 97 3rd Avenue Albany, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Income‑producing property with paying tenants already in place for immediate rental income; Sewer: public sewer; Heating: natural gas
