Interconnected Duplex
For Sale
$525,000
17 Lawnridge Avenue #17 & 19, Albany, NY 12208
Two connected residences are offered together in as-is condition, with one currently leased.
Property Size2,808 SF
Price / SF$186.97
Days on Market38
Property Features for 17 Lawnridge Avenue #17 & 19
General Information
Standard status
Active
Size
2,808 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA with den
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,425
Building Details
Year Built
1920
Listing Agency:
Vision Real Estate Services LLC
(518) 669-7784
Listed By:
Tyler Fronte · License #NY10491211547
(518) 669-7784
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 30 at 1:35PM
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 Vision Real Estate Services LLC
Investment Insights
Based on property information with market context.
This duplex property consists of two interconnected single-family residences being sold together under common ownership. Each home includes three bedrooms, one and one-half baths, and a den, providing a combined configuration of 2,808 square feet. The property was built in 1920 and is being offered in as-is condition.
Located at 17 Lawnridge Avenue in Albany, the offering includes the residences identified as #17 and #19. One residence is currently leased, while both homes remain part of the same sale.
Located at 17 Lawnridge Avenue in Albany, the offering includes the residences identified as #17 and #19. One residence is currently leased, while both homes remain part of the same sale.
Key Highlights
- Two interconnected single‑family homes sold together
- Each residence offers 3 bedrooms, 1.5 baths, and a den
- Combined property size of 2,808 square feet
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
$31,978
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
6.09%
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%
$639,560
$639.6K
Cap Rate 7%
$456,829
$456.8K
Cap Rate 9%
$355,311
$355.3K
Market Conditions
NOI Build-Up for 2,808 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
$48.9K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.7K $16.27/SF
− OpEx
−$13.7K −$4.88/SF
NOI
$32.0K $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%
$639,560
Cap Rate 7%
$456,829
Cap Rate 9%
$355,311
Alternative Uses
Best Use
Multifamily LT 5
$456.8K
$399.7K – $533.0K
NOI $31,978 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$409.8K
$358.5K – $478.1K
NOI $28,683 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$740.8K
$648.2K – $864.3K
NOI $51,858 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
963
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two connected residences are offered together in as-is condition, with one currently leased.
Where is this duplex located?
The property is located at 17 Lawnridge Avenue #17 & 19 Albany, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two interconnected single‑family homes sold together; Each residence offers 3 bedrooms, 1.5 baths, and a den; Combined property size of 2,808 square feet
