Duplex with Detached
For Sale
$295,000
Pending
1 Mariette Place, Albany, NY 12209
Two separate flats offer a two-bedroom layout below and a one-bedroom apartment above.
Property Size1,600 SF
Days on Market77
Property Features for 1 Mariette Place
General Information
Standard status
Pending
Size
1,600 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
fenced back yard
off-street parking
detached garage
hardwood floors
stainless steel appliances
washer/dryer
Building Details
Year Built
1937
Buildings
1
Listing Agency:
Falvey Real Estate Group Ltd
(518) 452-3912
Listed By:
James W Rosenberger · License #40RO1132254
(518) 542-1430
Source:
Simplywoodardrealestate
Added: Aug 17
Changed: Nov 1
Last Checked: Nov 1 at 3:08PM
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
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Investment Insights
Based on property information with market context.
This 1,600-square-foot duplex, built in 1937, contains two separate apartments. The lower flat has two bedrooms and was recently updated with newer kitchen cabinets, countertops, stainless steel appliances, and ceramic tile flooring. Hardwood floors, a primary bedroom, and an in-unit washer and dryer are also present. The upper apartment has one bedroom, a living room, a kitchen, and its own washer and dryer.
The property includes off-street parking, a fenced backyard, and a detached one-car garage offered as-is. It is surrounded by single-family homes and sits just off Whitehall. The property may be packaged with 677 Washington Ave.
The property includes off-street parking, a fenced backyard, and a detached one-car garage offered as-is. It is surrounded by single-family homes and sits just off Whitehall. The property may be packaged with 677 Washington Ave.
Key Highlights
- Two apartments: a two‑bedroom lower flat and a one‑bedroom upper unit
- 1,600 square feet; built in 1937
- Lower apartment has newer cabinets, countertops, stainless steel appliances, and ceramic tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,221
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate flats offer a two-bedroom layout below and a one-bedroom apartment above.
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 apartments: a two‑bedroom lower flat and a one‑bedroom upper unit; 1,600 square feet; built in 1937; Lower apartment has newer cabinets, countertops, stainless steel appliances, and ceramic tile flooring
