Renovated Two-Unit Duplex for
157 Myrtle Ave, Albany, NY 12202
MULTI_FAMILY - Albany, NY
Property size:
2,172 SFLot size:
0.05 AcresPrice / SF:
$193/SF- Added:
- Feb 10, 2026
- Days on Market:
- 146
- Last Refresh:
- Jul 6 at 9:06 am
Property Features for 157 Myrtle Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 7, Bedroom 8, Bedroom 1, Bedroom 4, Laundry Room, Bedroom 6
- Standard status
- Active
- Size
- 2,172 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4763
Utilities
- Heating system
- Natural Gas, Baseboard, Forced Air, Heat Pump (Heating), Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1913
- Floors in Building
- 2
- Flooring type
- Hardwood
- Roof type
- Tar/Gravel, Rubber, Flat
Listing agent Cem Manisali
Listing office MANISALI SERVICES LLC 135 MAIN ST, BEACON, NY
Listing date Feb 10, 2026
MLS# 11651340
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Well‑maintained, recently renovated 2‑unit home built in 1913
- Renovated in 2023 with brand new roof and replaced separate water heaters
- Hardwood floors throughout with tall ceiling height and bay windows for each unit
- Separate utilities: tenants pay their own heating/electricity; landlord pays water/sewer
- Updated HVAC and heating systems include electric baseboard and mini split system (all in good working order)
- Current income $23,568/yr; proforma income $47,658/yr with proforma cap rate of 9.5% at a $425,000 price
Overview
This renovated two-unit duplex features hardwood floors throughout, tall ceiling height, and bay windows for each unit. The home has two staircases, with access provided at both the front and rear. Both units have been updated with new interior paint, light fixtures, and bathroom fixtures, along with new appliances, including two sets of refrigerator, stove, dishwasher, and washer/dryer. HVAC and hot water improvements include a mini split system and new retaining wall work for the backyard, plus separate water heaters replaced in 2023. Additional exterior improvements include brand-new roof and new exterior paint, with all mini splits and baseboards reported in working order.
Located at 157 Myrtle Ave in Albany, NY, the property is described as being about two blocks from Lincoln Park. The building has street parking, and drive-by viewing is permitted. Sellers request that tenants not be disturbed, with showings coordinated through the listing agent and available video tour.
The layout supports either owner-occupancy or leasing, with Unit 2 currently vacant per the listing. Utilities are separate, with tenants responsible for their own heating and electricity, while the landlord pays water and sewer. Unit 1 is responsible for snow, providing a straightforward division of day-to-day responsibilities. For tenants or owner-occupants, the combination of recent renovations and independent utility setups may simplify ongoing operations.
Located at 157 Myrtle Ave in Albany, NY, the property is described as being about two blocks from Lincoln Park. The building has street parking, and drive-by viewing is permitted. Sellers request that tenants not be disturbed, with showings coordinated through the listing agent and available video tour.
The layout supports either owner-occupancy or leasing, with Unit 2 currently vacant per the listing. Utilities are separate, with tenants responsible for their own heating and electricity, while the landlord pays water and sewer. Unit 1 is responsible for snow, providing a straightforward division of day-to-day responsibilities. For tenants or owner-occupants, the combination of recent renovations and independent utility setups may simplify ongoing operations.
Local 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 | $37.8k | $17.40 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $35.3k | $16.27 |
| − OpEx | −$10.6k | −$4.88 |
| NOI | $24.7k | $11.39 |
2,172 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$353.4K
$309.2K – $412.3K
NOI $24,735 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$317.0K
$277.3K – $369.8K
NOI $22,187 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$573.0K
$501.4K – $668.5K
NOI $40,112 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.765537
- Latitude
- 42.648693
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Recently renovated two-unit residence with separate utilities and electric heating systems for each unit.
Where is this duplex located?
The property is located at 157 Myrtle Ave Albany, NY.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Well‑maintained, recently renovated 2‑unit home built in 1913; Renovated in 2023 with brand new roof and replaced separate water heaters; Hardwood floors throughout with tall ceiling height and bay windows for each unit
