Updated Two-Family
New
For Sale
$295,000
1 Mariette Place, Albany, NY 12209
Two residential units offer distinct layouts, private laundry, off-street parking, and a fenced rear yard.
Property Size1,600 SF
Price / SF$184.38
Days on Market6
Property Features for 1 Mariette Place
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
washer/dryer
off-street parking
fenced back yard
detached garage
Building Details
Year Built
1937
Buildings
1
Listing Agency:
Falvey Real Estate Group Ltd
Listed By:
James W Rosenberger
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 16
Changed: Aug 20
Last Checked: Aug 21 at 11:37AM
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 Falvey Real Estate Group Ltd
Investment Insights
Based on property information with market context.
This two-unit residential property contains approximately 1,600 square feet and was built in 1937. The lower residence is a recently renovated two-bedroom flat with updated cabinetry, countertops, stainless steel appliances, ceramic tile flooring, hardwood floors, a primary bedroom, and in-unit washer and dryer. The upper unit provides one bedroom, a living room, kitchen, and its own laundry area.
Exterior features include off-street parking, a fenced backyard, and a detached one-car garage. The garage is being sold as-is. The property is located on Mariette Place in Albany’s Whitehall area and is surrounded by single-family homes.
Exterior features include off-street parking, a fenced backyard, and a detached one-car garage. The garage is being sold as-is. The property is located on Mariette Place in Albany’s Whitehall area and is surrounded by single-family homes.
Key Highlights
- Two‑family property with approximately 1,600 square feet
- First‑floor two‑bedroom flat recently updated with stainless steel appliances and ceramic tile flooring
- Upper‑level one‑bedroom unit with living room, kitchen, and washer/dryer
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
$18,221
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
6.18%
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%
$364,420
$364.4K
Cap Rate 7%
$260,300
$260.3K
Cap Rate 9%
$202,456
$202.5K
Market Conditions
NOI Build-Up for 1,600 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
$27.8K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$26.0K $16.27/SF
− OpEx
−$7.8K −$4.88/SF
NOI
$18.2K $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%
$364,420
Cap Rate 7%
$260,300
Cap Rate 9%
$202,456
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$233.5K
$204.3K – $272.4K
NOI $16,344 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$422.1K
$369.4K – $492.5K
NOI $29,549 @ 7.0% cap · market cap 10.02%
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
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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 residential units offer distinct layouts, private laundry, off-street parking, and a fenced rear yard.
Where is this duplex located?
The property is located at 1 Mariette Place 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 with approximately 1,600 square feet; First‑floor two‑bedroom flat recently updated with stainless steel appliances and ceramic tile flooring; Upper‑level one‑bedroom unit with living room, kitchen, and washer/dryer
