Building Details

Year Built 1925

Buildings 1

Listing Agency: Madison Park Real Estate

Listed By: Shane Mahar · License #10491207239 Show Phone

Source: Signatureonerealtygroup

Added: Jul 28 Changed: Oct 15 Last Checked: Oct 15 at 12:07AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1925 two-family property contains 2,258 square feet with matching three-bedroom, one-bath layouts in each residence. Both units have undergone renovation within the past five years, including updated kitchens, remodeled bathrooms, and refinished hardwood floors. Separate washers and dryers are located in the basement for each unit.

The property includes a driveway and a two-car garage. At 16 Harris Avenue in Albany’s Helderberg Neighborhood, the home is positioned off New Scotland Avenue and within walking distance of Albany Med and multiple restaurants.

Key Highlights

• 2,258‑square‑foot duplex built in 1925
• Each unit has 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

Is this asking price fair?

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 (±1% cap)

NOI $25,715 @ 7.0% cap · market cap 6.86%

Second Best

Apartment 5plus

$329.5K

$288.3K – $384.4K (±1% cap)

NOI $23,065 @ 7.0% cap · market cap 6.15%

Theoretical Best

Office A

$595.7K

$521.3K – $695.0K (±1% cap)

NOI $41,701 @ 7.0% cap · market cap 11.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Electrical Service Auto Repair Shop HVAC Service Big Box & Wholesale Store Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Updated Duplex with Vacant Unit

545 Washington Ave, Albany, NY 12206

$369,900

2,208 SF

View details

Duplex with Updated First-Floor Unit

545 Washington Avenue, Albany, NY 12206

$369,900

2,208 SF

View details

Renovated Two-Family Duplex

52-54 Southern Boulevard, Albany, NY 12209

$358,550

2,176 SF

View details

Pine Hills Multifamily Opportunity

75 S Pine Avenue, Albany, NY 12208

$390,000

2,356 SF

View details

Updated Two-Family Duplex

157 Myrtle Ave, Albany, NY 12202

$399,000

2,172 SF

View details

Renovated Two-Unit Duplex

556 Washington Avenue, Albany, NY 12203

$365,000

2,112 SF

View details

Two-Unit Duplex with Basement Laundry

556 Washington Ave, Albany, NY 12203

$365,000

2,112 SF

View details

Two-Unit Duplex with Porches

20-22 McCrossin Avenue, Albany, NY 12206

$350,000

2,432 SF

View details

Two-Family Duplex with Full Basement

114 Spring Street, Albany, NY 12203

$325,000

2,352 SF

View details

Fully Occupied Duplex with Mirrored Layouts

88 Woodlawn Avenue, Albany, NY 12208

$299,000

2,228 SF

View details

Historic Duplex with Fenced Yard

282 Lark St, Albany, NY 12210

$368,000

2,016 SF

View details

Mixed-Use Storefront and Apartments

404 Delaware Avenue, Albany, NY 12209

$329,000

2,425 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two updated three-bedroom residences include modern kitchens, refreshed baths, and dedicated basement laundry areas.

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‑square‑foot duplex built in 1925; Each unit has 3 bedrooms and 1 bathroom; Both units renovated within the last 5 years