Interconnected Two-Unit
For Sale
$525,000
17 Lawnridge Avenue Unit 17 & 19, Albany, NY 12208
Two three-bedroom residences each include a den and one-and-a-half baths, with both homes conveyed together.
Property Size2,808 SF
Price / SF$186.97
Days on Market404
Property Features for 17 Lawnridge Avenue Unit 17 & 19
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1.5BA with den
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Vision Real Estate Services LLC
Listed By:
Tyler Fronte
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 25, 2025
Changed: Aug 31
Last Checked: Aug 31 at 8:05PM
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 consists of two interconnected single-family residences offered exclusively as a pair. Each home provides 3 bedrooms, 1.5 baths, and a den, creating a combined 2,808 SF residential property. The buildings date to 1920 and are being sold as-is.
Located at 17 Lawnridge Avenue, Unit 17 & 19, in Albany, NY 12208, the property is currently configured with one residence under lease. Both homes remain under common ownership and are conveyed in the same transaction.
Located at 17 Lawnridge Avenue, Unit 17 & 19, in Albany, NY 12208, the property is currently configured with one residence under lease. Both homes remain under common ownership and are conveyed in the same transaction.
Key Highlights
- Two interconnected single‑family homes sold together
- Each residence has 3 bedrooms, 1.5 baths, and a den
- Combined property size of 2,808 SF
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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,424
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 three-bedroom residences each include a den and one-and-a-half baths, with both homes conveyed together.
Where is this duplex located?
The property is located at 17 Lawnridge Avenue Unit 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 has 3 bedrooms, 1.5 baths, and a den; Combined property size of 2,808 SF
