Two-Unit Duplex with
For Sale
$359,000
Pending
11 Homestead Avenue, Albany, NY 12203
MultiFamily, Albany, NY
Property Size2,632 SF
Lot Size0.12 Acres
Days on Market106
Property Features for 11 Homestead Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Parking
6
Parking features
Garage, Driveway
Patio and Porch features
Porch
Fireplace
1
Basement
Full
Lot features
Cleared
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Western Ave to Homestead to #11
Standard status
Pending
APN
010100 64.42-2-65
Size
2,632 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
8553
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Natural Gas, Steam
Water source
Public
Amenities
fireplace
garage parking
Building Details
Year built
1916
Number of units
2
Building materials
Wood Siding
Roof type
Slate
Architectural style
Other
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 427-9000
Listed By:
John P Brunette · License #10401345908
(518) 365-6469
Added: Jun 22
Changed: Sep 24
Last Checked: Oct 5 at 12:06PM
MLS# 202620190
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-family duplex, built in 1916, provides 2,632 square feet of interior space with six bedrooms and two full bathrooms. The residence features wood siding, a slate roof, a fireplace, and a front porch. Heating is provided through steam and radiant systems using natural gas.
Parking includes a garage and driveway. The property is connected to public water and public sewer, offering established residential infrastructure in Albany.
Parking includes a garage and driveway. The property is connected to public water and public sewer, offering established residential infrastructure in Albany.
Key Highlights
- 2,632 square feet of interior space
- Two‑family duplex with six bedrooms and two full bathrooms
- Built in 1916 with wood siding and a slate roof
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
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
View Realmo Analytics
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-family property with porch, fireplace, garage parking, and separate driveway access.
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: 2,632 square feet of interior space; Two‑family duplex with six bedrooms and two full bathrooms; Built in 1916 with wood siding and a slate roof
