Two-Family Residential Income
For Sale
$359,000
11 Homestead Avenue, Albany, NY 12203
Two-family property offers two full bathrooms, a fireplace, and garage parking across spacious interiors.
Property Size2,632 SF
Price / SF$136.40
Days on Market108
Property Features for 11 Homestead Avenue
General Information
Standard status
Active
Size
2,632 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
fireplace
garage parking
Building Details
Year Built
1916
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
John P Brunette
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 30
Changed: Sep 13
Last Checked: Sep 14 at 7:52AM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This two-family residential income property features spacious interiors and includes two full bathrooms. The home also offers a fireplace and garage parking, with a total size of 2,632 square feet.
Set on a tree-lined street, the property is described as being near schools, local parks, shopping, universities, and major highways.
The offering is presented as income producing, supported by the property’s two-family configuration and overall interior layout.
Set on a tree-lined street, the property is described as being near schools, local parks, shopping, universities, and major highways.
The offering is presented as income producing, supported by the property’s two-family configuration and overall interior layout.
Key Highlights
- 1916‑built two‑family home with 2 full bathrooms across 2,632 SF
- Fireplace included
- Garage parking available
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
$29,974
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
8.35%
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%
$599,480
$599.5K
Cap Rate 7%
$428,200
$428.2K
Cap Rate 9%
$333,044
$333.0K
Market Conditions
NOI Build-Up for 2,632 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
$45.8K $17.40/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$42.8K $16.27/SF
− OpEx
−$12.8K −$4.88/SF
NOI
$30.0K $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%
$599,480
Cap Rate 7%
$428,200
Cap Rate 9%
$333,044
Alternative Uses
Best Use
Multifamily LT 5
$428.2K
$374.7K – $499.6K
NOI $29,974 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$384.1K
$336.1K – $448.1K
NOI $26,885 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$694.4K
$607.6K – $810.1K
NOI $48,608 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
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-family property offers two full bathrooms, a fireplace, and garage parking across spacious interiors.
Where is this duplex located?
The property is located at 11 Homestead Avenue Albany, NY.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1916‑built two‑family home with 2 full bathrooms across 2,632 SF; Fireplace included; Garage parking available
