Two-Unit Duplex with
For Sale
$599,000
1 Dowling Rd, Colonie, NY 12205
Each residence offers three bedrooms, basement recreation space, and expanded off-street parking areas.
Property Size2,480 SF
Price / SF$241.53
Days on Market11
Property Features for 1 Dowling Rd
General Information
Standard status
Active
Size
2,480 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,643
Listing Agency:
Howard Hanna Capital Inc
(518) 944-8228
Listed By:
Caitlin C Montalvo · License #10301215773
(518) 944-8228
Source:
Exprealty
Added: Aug 12
Changed: Aug 22
Last Checked: Aug 22 at 3:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 2480-square-foot duplex contains two residences, each arranged with three bedrooms, 1.5 bathrooms, a spacious living room, and a large eat-in kitchen. Both units also have enclosed front porch areas and basement recreational space with egress, adding flexible usable area beyond the main living spaces.
The property occupies a corner lot on a tree-lined street in Colonie within the South Colonie School District. Large side and rear yard areas provide outdoor space, while expanded driveways on both sides accommodate off-street parking. Shopping, dining, major roadways, and everyday amenities are located nearby.
The property occupies a corner lot on a tree-lined street in Colonie within the South Colonie School District. Large side and rear yard areas provide outdoor space, while expanded driveways on both sides accommodate off-street parking. Shopping, dining, major roadways, and everyday amenities are located nearby.
Key Highlights
- Two‑unit duplex with 2480 square feet of total property size
- Each unit includes 3 bedrooms and 1.5 bathrooms
- Basement recreational areas with egress in both units
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
$28,243
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
4.72%
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%
$564,860
$564.9K
Cap Rate 7%
$403,471
$403.5K
Cap Rate 9%
$313,811
$313.8K
Market Conditions
NOI Build-Up for 2,480 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
$43.2K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.3K $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%
$564,860
Cap Rate 7%
$403,471
Cap Rate 9%
$313,811
Alternative Uses
Best Use
Multifamily LT 5
$403.5K
$353.0K – $470.7K
NOI $28,243 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$361.9K
$316.7K – $422.2K
NOI $25,333 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$654.3K
$572.5K – $763.4K
NOI $45,801 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 12205, NY
27,168
Population
12,061
Households
2.3
Avg Household Size
45
Median Age
36%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
1,764
Density / Sq Mi
$89,270
Median Household Income
$54,184
Median Earnings
$1,405
Median Rent
$264,200
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 - Each residence offers three bedrooms, basement recreation space, and expanded off-street parking areas.
Where is this duplex located?
The property is located at 1 Dowling Rd Colonie, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex with 2480 square feet of total property size; Each unit includes 3 bedrooms and 1.5 bathrooms; Basement recreational areas with egress in both units
