Duplex with Private
New
For Sale
$299,000
121 N Allen Street, Albany, NY 12203
Each residence has three bedrooms and one full bathroom, and the upper unit is vacant.
Property Size2,518 SF
Price / SF$118.75
Days on Market3
Property Features for 121 N Allen Street
General Information
Standard status
Active
Size
2,518 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
private backyard
Building Details
Year Built
1930
Tenancy
Single
Listing Agency:
Empire Real Estate Firm LLC
Listed By:
Sean Daley · License #10401342644
(518) 390-0578
Source:
Signatureonerealtygroup
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 1:48PM
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 Empire Real Estate Firm LLC
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Investment Insights
Based on property information with market context.
This 2,518-square-foot duplex was built in 1930 and contains two three-bedroom, one-bathroom units. The first-floor residence is occupied, while the second-floor unit is vacant. A private backyard is also part of the property.
Located at 121 N Allen St in Albany, the building offers a two-unit configuration with one residence currently generating rental income and the other available for occupancy or leasing.
Located at 121 N Allen St in Albany, the building offers a two-unit configuration with one residence currently generating rental income and the other available for occupancy or leasing.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bathroom
- 2,518 square feet; built in 1930
- First‑floor unit is rented; second‑floor unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,721
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,420
$514.4K
Cap Rate 7%
$367,443
$367.4K
Cap Rate 9%
$285,789
$285.8K
Market Conditions
NOI Build-Up for 2,518 SF
Gross rent
$49.9K $19.80/SF
− Vacancy
−$3.1K −$1.23/SF
EGI
$46.8K $18.57/SF
− OpEx
−$21.0K −$8.36/SF
NOI
$25.7K $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%
$514,420
Cap Rate 7%
$367,443
Cap Rate 9%
$285,789
Alternative Uses
Best Use
Multifamily LT 5
$409.7K
$358.5K – $477.9K
NOI $28,676 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$367.4K
$321.5K – $428.7K
NOI $25,721 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$664.3K
$581.3K – $775.0K
NOI $46,502 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms and one full bathroom, and the upper unit is vacant.
Where is this duplex located?
The property is located at 121 N Allen Street Albany, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bathroom; 2,518 square feet; built in 1930; First‑floor unit is rented; second‑floor unit is vacant
