Two-Family Home with Detached
For Sale
$295,000
Pending
1 Mariette Place, Albany, NY 12209
MultiFamily, Albany, NY
Property Size1,600 SF
Lot Size0.12 Acres
Days on Market50
Property Features for 1 Mariette Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1
Parking
3
Parking features
Driveway, Garage
Patio and Porch features
Deck
Interior features
Ceramic Tile Bath
Fencing
Chain Link
Basement
Full, Unfinished
Lot features
Level, Landscaped, Cleared
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Whitehall to Mariette
Standard status
Pending
APN
010100 75.58-2-1
Size
1,600 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
4622
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Radiant
Water source
Public
Amenities
in-unit washer/dryer
fenced back yard
Building Details
Year built
1937
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Plaster
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Falvey Real Estate Group Ltd
(518) 452-3912
Listed By:
James W Rosenberger · License #40RO1132254
(518) 542-1430
Added: Aug 17
Changed: Sep 28
Last Checked: Oct 5 at 12:06PM
MLS# 202624207
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 two-family property in Albany includes a first-floor two-bedroom apartment and an upper-level one-bedroom unit. The lower apartment features a renovated kitchen with newer cabinetry, countertops, stainless steel appliances, and ceramic tile flooring, along with hardwood floors, a primary bedroom, and in-unit laundry. The upstairs residence includes a living room, kitchen, bedroom, and washer and dryer.
The 1,600-square-foot property occupies 0.12 acres and includes off-street parking, a fenced backyard, and a one-car detached garage being sold as-is. Additional features include a deck, public water and sewer, natural gas radiant heat, asphalt roofing, plaster construction, and hardwood and ceramic tile flooring. Built in 1937, the home is situated among single-family residences near Whitehall in Albany.
The 1,600-square-foot property occupies 0.12 acres and includes off-street parking, a fenced backyard, and a one-car detached garage being sold as-is. Additional features include a deck, public water and sewer, natural gas radiant heat, asphalt roofing, plaster construction, and hardwood and ceramic tile flooring. Built in 1937, the home is situated among single-family residences near Whitehall in Albany.
Key Highlights
- Two‑unit layout with one two‑bedroom apartment and one one‑bedroom apartment
- 1,600 square feet on a 0.12‑acre lot
- First‑floor apartment includes updated kitchen finishes and stainless steel appliances
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with updated finishes, 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‑unit layout with one two‑bedroom apartment and one one‑bedroom apartment; 1,600 square feet on a 0.12‑acre lot; First‑floor apartment includes updated kitchen finishes and stainless steel appliances
