Two-Unit Duplex with Four-Bedroom Upper
New
For Sale
$269,900
1114 Broadway, Menands, NY 12204
MultiFamily, Menands, NY
Property Size2,340 SF
Lot Size0.04 Acres
Price / SF$115.34
Days on Market6
Property Features for 1114 Broadway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Mixed
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 6
Patio and Porch features
Deck
Interior features
Walk-In Closet(s)
Fencing
Fenced, Privacy
Basement
Unfinished
Lot features
Level, Road Frontage
Elementary school
North Albany Academy
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Broadway on Left hand side heading north
Standard status
Active
APN
010100 65.44-3-14
Size
2,340 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2985
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1925
Number of units
2
Flooring type
Tile, Laminate
Building materials
Wood Siding
Roof type
Rolled Hot Mop, Asphalt
Architectural style
Other
Listing Agency:
Re Max Solutions · RE/MAX International
(518) 318-3800
Listed By:
David M Schrepper · License #10301208684
(518) 330-4209
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 5 at 4:06AM
MLS# 202627252
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 2,340-square-foot duplex contains two residences on a 0.04-acre lot. The upper residence is arranged across the second and third floors, with four bedrooms, an office beside the primary bedroom, and two closets in that bedroom. Its open layout is complemented by a large great room in the other unit. Both units have new kitchens and bathrooms, and the property is fully rented.
Built in 1925, the property has laminate and tile flooring, natural gas hot-water heat, and a deck. The lot is fenced, and public water and sewer serve the building.
Built in 1925, the property has laminate and tile flooring, natural gas hot-water heat, and a deck. The lot is fenced, and public water and sewer serve the building.
Key Highlights
- Two‑unit property totaling 2,340 square feet on a 0.04‑acre lot
- Four‑bedroom upper residence spans the second and third floors
- Upper residence includes an office and a primary bedroom with two closets
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
$23,903
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
8.86%
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%
$478,060
$478.1K
Cap Rate 7%
$341,471
$341.5K
Cap Rate 9%
$265,589
$265.6K
Market Conditions
NOI Build-Up for 2,340 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
$46.3K $19.80/SF
− Vacancy
−$2.9K −$1.23/SF
EGI
$43.5K $18.57/SF
− OpEx
−$19.6K −$8.36/SF
NOI
$23.9K $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%
$478,060
Cap Rate 7%
$341,471
Cap Rate 9%
$265,589
Alternative Uses
Best Use
Multifamily LT 5
$380.7K
$333.1K – $444.2K
NOI $26,649 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$341.5K
$298.8K – $398.4K
NOI $23,903 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$617.4K
$540.2K – $720.3K
NOI $43,215 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
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 - The upper residence spans two floors, with four bedrooms, an office, and a primary bedroom with two closets.
Where is this duplex located?
The property is located at 1114 Broadway Menands, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two‑unit property totaling 2,340 square feet on a 0.04‑acre lot; Four‑bedroom upper residence spans the second and third floors; Upper residence includes an office and a primary bedroom with two closets
