Updated Two-Unit
New
For Sale
$349,900
1 N Manning Boulevard, Albany, NY 12206
MultiFamily, Albany, NY
Property Size2,836 SF
Lot Size0.05 Acres
Price / SF$123.38
Days on Market5
Property Features for 1 N Manning Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Patio and Porch features
Porch
Interior features
Paddle Fan, Walk-In Closet(s), Crown Molding
Fencing
Fenced
Basement
Full, Unfinished
Lot features
Private
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
From Central ave, turn onto N Manning blvd. Continue past Swinburne Park; 1 N Manning blvd will be on your right.
Standard status
Active
APN
010100 65.30-2-42
Size
2,836 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4602
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
enclosed front porch
walk-in closet
washer/dryer hookups
fenced backyard
Building Details
Year built
1890
Number of units
2
Flooring type
Tile, Laminate
Building materials
Vinyl Siding
Roof type
Rubber
Architectural style
Other
Listing Agency:
Realty One Group Key
(518) 630-5360
Listed By:
Medaiszjah Sims · License #10401350106
(518) 417-0397
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 23 at 9:06PM
MLS# 202624306
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-unit duplex contains 2,836 square feet and was built in 1890. Each unit includes a living room, dining room, and enclosed front porch. The second-floor residence adds an alcove, a primary bedroom with walk-in closet, and crown molding. The first floor includes an additional room that can serve as a bedroom or bonus space. Recent interior improvements include fresh paint and new flooring, with tile and laminate surfaces throughout the property.
A clean, dry basement provides storage and washer/dryer hookups. The rear yard is enclosed by fencing, and the property is served by public water and public sewer. Natural-gas forced-air heat, vinyl siding, and a rubber roof complete the primary building features. Located in Albany, New York, the property occupies a 0.05-acre lot.
A clean, dry basement provides storage and washer/dryer hookups. The rear yard is enclosed by fencing, and the property is served by public water and public sewer. Natural-gas forced-air heat, vinyl siding, and a rubber roof complete the primary building features. Located in Albany, New York, the property occupies a 0.05-acre lot.
Key Highlights
- 2,836‑square‑foot duplex with two residential units
- Each unit has a living room, dining room, and enclosed front porch
- First‑floor bonus room or potential fourth bedroom
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
$28,969
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
8.28%
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%
$579,380
$579.4K
Cap Rate 7%
$413,843
$413.8K
Cap Rate 9%
$321,878
$321.9K
Market Conditions
NOI Build-Up for 2,836 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
$56.2K $19.80/SF
− Vacancy
−$3.5K −$1.23/SF
EGI
$52.7K $18.57/SF
− OpEx
−$23.7K −$8.36/SF
NOI
$29.0K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$579,380
Cap Rate 7%
$413,843
Cap Rate 9%
$321,878
Alternative Uses
Best Use
Multifamily LT 5
$461.4K
$403.7K – $538.3K
NOI $32,297 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$413.8K
$362.1K – $482.8K
NOI $28,969 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$748.2K
$654.7K – $872.9K
NOI $52,375 @ 7.0% cap · market cap 14.97%
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
1,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
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-unit residential property with separate living areas, enclosed porches, basement storage, and a fenced backyard.
Where is this duplex located?
The property is located at 1 N Manning Boulevard Albany, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,836‑square‑foot duplex with two residential units; Each unit has a living room, dining room, and enclosed front porch; First‑floor bonus room or potential fourth bedroom
