Updated Two-Unit
New
For Sale
$295,000
1 Mariette Place, Albany, NY 12209
MULTI_FAMILY - Other - Albany, NY
Property Size1,600 SF
Lot Size0.12 Acres
Price / SF$184.38
Days on Market4
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, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2
Parking
3
Parking features
Garage, Driveway
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
Active
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
Radiant, Natural Gas
Water source
Public
Amenities
off-street parking
fenced back yard
detached garage
washer/dryer
Building Details
Year built
1937
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
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: Aug 18
Last Checked: Aug 20 at 10:06AM
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 1937 duplex contains 1,600 square feet on a 0.12-acre lot. The first-floor apartment is a two-bedroom layout with a refreshed kitchen featuring newer cabinets, countertops, stainless steel appliances, and ceramic tile flooring. Hardwood floors, a primary bedroom, and in-unit washer and dryer complete the lower residence. The upper apartment offers one bedroom, a living room, kitchen, and its own washer and dryer.
Exterior features include a fenced backyard, deck, driveway parking, and a detached one-car garage conveyed as-is. The property is served by public water and public sewer, with natural gas radiant heat. Located at 1 Mariette Place in Albany, the home sits among single-family residences in a quiet neighborhood just off Whitehall.
Exterior features include a fenced backyard, deck, driveway parking, and a detached one-car garage conveyed as-is. The property is served by public water and public sewer, with natural gas radiant heat. Located at 1 Mariette Place in Albany, the home sits among single-family residences in a quiet neighborhood just off Whitehall.
Key Highlights
- Two‑unit duplex with 1,600 square feet on a 0.12‑acre lot
- First‑floor two‑bedroom apartment with updated kitchen finishes and stainless steel appliances
- Upper‑level one‑bedroom unit with living room, kitchen, and washer and 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 feature individual laundry, hardwood flooring, and off-street parking.
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 duplex with 1,600 square feet on a 0.12‑acre lot; First‑floor two‑bedroom apartment with updated kitchen finishes and stainless steel appliances; Upper‑level one‑bedroom unit with living room, kitchen, and washer and dryer
