Two-Family Residential Income
For Sale
$293,000
15 Zoar Avenue, Albany, NY 12209
Well-maintained two-family home with a new front porch and a refreshed second floor.
Property Size2,208 SF
Price / SF$132.70
Days on Market55
Property Features for 15 Zoar Avenue
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1907
Listing Agency:
518 Realty.Com Inc
Listed By:
Tammy Sbardella
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 13
Changed: Sep 4
Last Checked: Sep 5 at 8:35AM
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 518 Realty.Com Inc
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers a practical residential income setup with recent exterior and interior updates. The property includes a brand-new front porch, and the second floor has been completely refreshed with new walls and fresh paint.
Set in a desirable neighborhood, the home is close to schools, shopping, and restaurants, supporting everyday convenience for future tenants or owner-occupants.
The layout is described as unique, providing flexibility for buyers who want to tailor the space to their needs. Whether seeking to live in one unit while generating income or adding a rental property to a portfolio, this duplex presents a turn-key foundation with visible improvements already completed.
Set in a desirable neighborhood, the home is close to schools, shopping, and restaurants, supporting everyday convenience for future tenants or owner-occupants.
The layout is described as unique, providing flexibility for buyers who want to tailor the space to their needs. Whether seeking to live in one unit while generating income or adding a rental property to a portfolio, this duplex presents a turn-key foundation with visible improvements already completed.
Key Highlights
- Two‑family home built in 1907 in a well‑maintained condition
- New front porch installed as part of recent updates
- Second floor refreshed with new walls and fresh paint
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
$25,145
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
8.58%
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%
$502,900
$502.9K
Cap Rate 7%
$359,214
$359.2K
Cap Rate 9%
$279,389
$279.4K
Market Conditions
NOI Build-Up for 2,208 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
$38.4K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$35.9K $16.27/SF
− OpEx
−$10.8K −$4.88/SF
NOI
$25.1K $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 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%
$502,900
Cap Rate 7%
$359,214
Cap Rate 9%
$279,389
Alternative Uses
Best Use
Multifamily LT 5
$359.2K
$314.3K – $419.1K
NOI $25,145 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$582.5K
$509.7K – $679.6K
NOI $40,777 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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 - Well-maintained two-family home with a new front porch and a refreshed second floor.
Where is this duplex located?
The property is located at 15 Zoar Avenue Albany, NY.
What is the asking price?
The asking price for this property is $293,000.
What are key features of this property?
This property features: Two‑family home built in 1907 in a well‑maintained condition; New front porch installed as part of recent updates; Second floor refreshed with new walls and fresh paint
