Two-Unit Residential Income
For Sale
$385,000
149 Homestead Avenue, Albany, NY 12203
Spacious two-family home with separate 3-bedroom, 1-bath units and a total of 6 bedrooms.
Property Size2,668 SF
Price / SF$144.30
Days on Market107
Property Features for 149 Homestead Avenue
General Information
Standard status
Active
Size
2,668 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1929
Listing Agency:
KW Platform
Listed By:
Ramiz Turan
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Apr 16
Changed: Jul 25
Last Checked: Jul 30 at 4:51PM
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 KW Platform
Investment Insights
Based on property information with market context.
This two-family residential income property offers a total of 6 bedrooms and 2 full bathrooms, arranged as two separate units. Each unit is configured with 3 bedrooms and 1 bath.
The property is located in Albany, NY, with convenient access to colleges, hospitals, shopping, restaurants, bus lines, and major highways.
Ideal for buyers seeking either rental income or owner occupancy with rental support, the building’s duplex structure supports two independent living setups.
The property is located in Albany, NY, with convenient access to colleges, hospitals, shopping, restaurants, bus lines, and major highways.
Ideal for buyers seeking either rental income or owner occupancy with rental support, the building’s duplex structure supports two independent living setups.
Key Highlights
- 1929‑built 2‑family home with separate units
- Each unit has 3 bedrooms and 1 full bathroom (total of 6 bedrooms and 2 full baths)
- Convenient Albany location near colleges, hospitals, shopping, restaurants, bus lines, and major highways
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 | $46.4k | $17.40 |
| − Vacancy | −$3.0k | −$1.13 |
| EGI | $43.4k | $16.27 |
| − OpEx | −$13.0k | −$4.88 |
| NOI | $30.4k | $11.39 |
2,668 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$434.1K
$379.8K – $506.4K
NOI $30,384 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$389.3K
$340.7K – $454.2K
NOI $27,253 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$703.9K
$615.9K – $821.2K
NOI $49,273 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
867
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
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 - Spacious two-family home with separate 3-bedroom, 1-bath units and a total of 6 bedrooms.
Where is this duplex located?
The property is located at 149 Homestead Avenue Albany, NY.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1929‑built 2‑family home with separate units; Each unit has 3 bedrooms and 1 full bathroom (total of 6 bedrooms and 2 full baths); Convenient Albany location near colleges, hospitals, shopping, restaurants, bus lines, and major highways
