Duplex with Separate
For Sale
$235,000
10 Hurlbut Street, Albany, NY 12209
Both vacant units require cosmetic finishing before tenant occupancy.
Property Size2,040 SF
Price / SF$115.20
Days on Market81
Property Features for 10 Hurlbut Street
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$4,236
Building Details
Year Built
1910
Listing Agency:
Redway Realty LLC
Listed By:
Wendy Towers
(518) 337-0256
Source:
Capmarkrealty
Added: Jul 20
Changed: Oct 7
Last Checked: Oct 7 at 9:35AM
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 Redway Realty LLC
Investment Insights
Based on property information with market context.
This two-unit residential income property contains 2,040 square feet, with each apartment offering 3 bedrooms, 1 bathroom, a full living room, and a dining room. Both units are vacant, and cosmetic finishing remains before occupancy. Improvements include a new roof vent, new kitchen cabinets in Unit 1, and new flooring in the kitchen and bathroom.
Electric and gas are separately metered and paid by the tenants. ROP approval remains valid through January 2028. The property is located on Hurlbut Street in Albany’s Delaware Avenue corridor, with Albany Law School, Albany Medical College, The Sage Colleges, the State Capitol, and downtown Albany employment centers nearby. The building was constructed in 1910.
Electric and gas are separately metered and paid by the tenants. ROP approval remains valid through January 2028. The property is located on Hurlbut Street in Albany’s Delaware Avenue corridor, with Albany Law School, Albany Medical College, The Sage Colleges, the State Capitol, and downtown Albany employment centers nearby. The building was constructed in 1910.
Key Highlights
- 2,040‑square‑foot duplex with two 3‑bedroom, 1‑bath units
- Each unit includes a full living room and dining room across ~1,020 sq ft
- Both units are vacant; cosmetic finishing remains before tenant occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,838
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$416,760
$416.8K
Cap Rate 7%
$297,686
$297.7K
Cap Rate 9%
$231,533
$231.5K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$40.4K $19.80/SF
− Vacancy
−$2.5K −$1.23/SF
EGI
$37.9K $18.57/SF
− OpEx
−$17.0K −$8.36/SF
NOI
$20.8K $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 Rate 5%
$416,760
Cap Rate 7%
$297,686
Cap Rate 9%
$231,533
Alternative Uses
Best Use
Multifamily LT 5
$331.9K
$290.4K – $387.2K
NOI $23,232 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$297.7K
$260.5K – $347.3K
NOI $20,838 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$538.2K
$470.9K – $627.9K
NOI $37,675 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
761
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
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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 - Both vacant units require cosmetic finishing before tenant occupancy.
Where is this duplex located?
The property is located at 10 Hurlbut Street Albany, NY.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 2,040‑square‑foot duplex with two 3‑bedroom, 1‑bath units; Each unit includes a full living room and dining room across ~1,020 sq ft; Both units are vacant; cosmetic finishing remains before tenant occupancy
