Updated Duplex with Ductless Mini
For Sale
$224,900
132 4TH Avenue, Albany, NY 12202
Fully updated two-family duplex with four-bedroom units, ductless mini splits, and a brick exterior built in 1892.
Property Size1,540 SF
Price / SF$146.04
Days on Market11
Property Features for 132 4TH Avenue
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Multi-family
Building Details
Year Built
1892
Construction
brick
Listing Agency:
Clancy Real Estate
Listed By:
Kevin Clancy
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 21
Changed: Jul 29
Last Checked: Jul 30 at 6:18PM
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 Clancy Real Estate
Investment Insights
Based on property information with market context.
132 4th Avenue is a fully updated brick two-family duplex built in 1892, offering a straightforward live-in or investment setup. Each spacious unit features four bedrooms with beautifully updated kitchens and bathrooms, along with modern finishes throughout. Efficient heating and cooling are provided by ductless mini splits in both units.
The first-floor unit is currently rented, while the second-floor unit is vacant, providing flexibility for immediate occupancy or leasing. With four bedrooms per unit and 8 total bedrooms across the property, the layout is well suited for tenants seeking generous space.
The duplex has already been updated on both floors, which can simplify the ownership experience for buyers looking to take over a turn-key configuration and manage a two-unit rental property with consistent interior improvements.
The first-floor unit is currently rented, while the second-floor unit is vacant, providing flexibility for immediate occupancy or leasing. With four bedrooms per unit and 8 total bedrooms across the property, the layout is well suited for tenants seeking generous space.
The duplex has already been updated on both floors, which can simplify the ownership experience for buyers looking to take over a turn-key configuration and manage a two-unit rental property with consistent interior improvements.
Key Highlights
- Fully updated brick duplex built in 1892
- Two‑family layout with 4 bedrooms per unit and 8 total bedrooms
- Ductless mini splits for efficient heating and cooling
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.8k | $17.40 |
| − Vacancy | −$1.7k | −$1.13 |
| EGI | $25.1k | $16.27 |
| − OpEx | −$7.5k | −$4.88 |
| NOI | $17.5k | $11.39 |
1,540 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,538 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,731 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$406.3K
$355.5K – $474.0K
NOI $28,441 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
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 - Fully updated two-family duplex with four-bedroom units, ductless mini splits, and a brick exterior built in 1892.
Where is this duplex located?
The property is located at 132 4TH Avenue Albany, NY.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Fully updated brick duplex built in 1892; Two‑family layout with 4 bedrooms per unit and 8 total bedrooms; Ductless mini splits for efficient heating and cooling
