Updated Four-Unit
New
For Sale
$489,900
103 Ten Broeck Street, Albany, NY 12210
Commercial-zoned brownstone with four occupied apartments, period details, updated interiors, and separately metered utilities.
Property Size2,280 SF
Price / SF$214.87
Days on Market6
Property Features for 103 Ten Broeck Street
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi-Family
Zoning
Commercial
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,279
Amenities
in-unit laundry
central air
laundry room
Building Details
Year Built
1871
Buildings
1
Construction
brownstone
Tenancy
Multi
Listing Agency:
Hunt ERA
Listed By:
Lorenzo C Murray
(617) 212-7290
Source:
Capmarkrealty
Added: Sep 22
Last Checked: Sep 26 at 4:43AM
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 Hunt ERA
Investment Insights
Based on property information with market context.
This 2,280-square-foot brownstone, built in 1871, contains four one-bedroom, one-bath apartments. The building retains its historic exterior and tall ceilings, while interior improvements include newer flooring, fresh paint, updated kitchen cabinetry and countertops, matching appliances, and renovated bathrooms. Two apartments include in-unit laundry, and the first-floor residence has central air. Heating is provided by forced hot air, with baseboard systems in some units. Each apartment has separate gas and electric meters billed to the tenant.
The lower level provides a shared laundry room and additional utility area. Exterior space at the rear can accommodate a small patio. All four apartments are occupied, and Residential Occupancy Permits are available for each unit. A recent full inspection report is also available for buyer review. The property is in the Ten Broeck Triangle, near the retail and nightlife offerings along South Pearl and State Streets.
The lower level provides a shared laundry room and additional utility area. Exterior space at the rear can accommodate a small patio. All four apartments are occupied, and Residential Occupancy Permits are available for each unit. A recent full inspection report is also available for buyer review. The property is in the Ten Broeck Triangle, near the retail and nightlife offerings along South Pearl and State Streets.
Key Highlights
- Four one‑bedroom, one‑bath apartments in a 2,280‑square‑foot brownstone
- Built in 1871 with historic exterior character and tall ceilings
- All four apartments are occupied
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
$25,965
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
5.30%
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%
$519,300
$519.3K
Cap Rate 7%
$370,929
$370.9K
Cap Rate 9%
$288,500
$288.5K
Market Conditions
NOI Build-Up for 2,280 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
$39.7K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.1K $16.27/SF
− OpEx
−$11.1K −$4.88/SF
NOI
$26.0K $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%
$519,300
Cap Rate 7%
$370,929
Cap Rate 9%
$288,500
Alternative Uses
Best Use
Multifamily LT 5
$370.9K
$324.6K – $432.8K
NOI $25,965 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$332.7K
$291.1K – $388.2K
NOI $23,290 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$601.5K
$526.3K – $701.8K
NOI $42,107 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
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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?
Quadplex - Commercial-zoned brownstone with four occupied apartments, period details, updated interiors, and separately metered utilities.
Where is this quadplex located?
The property is located at 103 Ten Broeck Street Albany, NY.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartments in a 2,280‑square‑foot brownstone; Built in 1871 with historic exterior character and tall ceilings; All four apartments are occupied
