Renovated Two-Family
For Sale
$374,900
16 Harris Avenue, Albany, NY 12208
Two three-bedroom units feature updated kitchens, bathrooms, and refinished hardwood floors.
Property Size2,258 SF
Price / SF$166.03
Days on Market29
Property Features for 16 Harris Avenue
General Information
Standard status
Active
Size
2,258 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,177
Amenities
laundry
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Madison Park Real Estate
Listed By:
Shane Mahar · License #10491207239
(518) 281-5336
Source:
Capmarkrealty
Added: Sep 8
Changed: Sep 23
Last Checked: Oct 5 at 3:55PM
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 Madison Park Real Estate
Investment Insights
Based on property information with market context.
This 2,258-square-foot duplex, built in 1925, contains two residential units with the same layout: three bedrooms and one bathroom per unit. Both apartments have undergone renovation within the last 5 years, including new kitchens, new bathrooms, and refinished hardwood flooring.
The property includes separate washers and dryers in the basement, a driveway, and a 2 car garage. Located at 16 Harris Avenue in Albany’s Helderberg Neighborhood, the home is walkable to Albany Med and several restaurants, with access from New Scotland Avenue.
The property includes separate washers and dryers in the basement, a driveway, and a 2 car garage. Located at 16 Harris Avenue in Albany’s Helderberg Neighborhood, the home is walkable to Albany Med and several restaurants, with access from New Scotland Avenue.
Key Highlights
- 2,258 SF duplex with two residential units
- Each unit includes 3 bedrooms and 1 bathroom
- Both units renovated within the last 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,715
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,300
$514.3K
Cap Rate 7%
$367,357
$367.4K
Cap Rate 9%
$285,722
$285.7K
Market Conditions
NOI Build-Up for 2,258 SF
Gross rent
$39.3K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$36.7K $16.27/SF
− OpEx
−$11.0K −$4.88/SF
NOI
$25.7K $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 Rate 5%
$514,300
Cap Rate 7%
$367,357
Cap Rate 9%
$285,722
Alternative Uses
Best Use
Multifamily LT 5
$367.4K
$321.4K – $428.6K
NOI $25,715 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.4K
NOI $23,065 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$595.7K
$521.3K – $695.0K
NOI $41,701 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
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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 three-bedroom units feature updated kitchens, bathrooms, and refinished hardwood floors.
Where is this duplex located?
The property is located at 16 Harris Avenue Albany, NY.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 2,258 SF duplex with two residential units; Each unit includes 3 bedrooms and 1 bathroom; Both units renovated within the last 5 years
