Three-Unit Multifamily
New
For Sale
$368,000
175 Eagle St, Albany, NY 12202
Rented apartments feature private laundry, bonus rooms, and hardwood, ceramic tile, and stainless-steel finishes.
Property Size2,160 SF
Price / SF$170.37
Days on Market2
Property Features for 175 Eagle St
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Amenities
hardwood floors
ceramic tile
stainless steel appliances
newer boiler
new hot water tank
washer/dryer
bonus room
Building Details
Year Built
1856
Listing Agency:
Real Broker Ny LLC
Listed By:
Michael Field
(518) 669-1804
Source:
Fieldrealty
Added: Sep 4
Last Checked: Sep 5 at 7:22AM
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 Real Broker Ny LLC
Investment Insights
Based on property information with market context.
This 2,160-square-foot triplex dates to 1856 and contains three rented apartments. Interior features include hardwood flooring, ceramic tile, and stainless-steel appliances. Each residence has its own washer and dryer along with an additional room that can serve as office or storage space. Building updates include a newer boiler and a new hot water tank.
The property is in Albany’s historic Mansion District, near the Governor’s Mansion and a neighborhood park. Downtown Albany offices are minutes away, providing a central urban setting with nearby employment and civic destinations.
The property is in Albany’s historic Mansion District, near the Governor’s Mansion and a neighborhood park. Downtown Albany offices are minutes away, providing a central urban setting with nearby employment and civic destinations.
Key Highlights
- Three‑unit multifamily property with 2,160 square feet
- Built in 1856 in Albany’s historic Mansion District
- All three apartments are currently rented
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
$24,599
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
6.68%
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%
$491,980
$492.0K
Cap Rate 7%
$351,414
$351.4K
Cap Rate 9%
$273,322
$273.3K
Market Conditions
NOI Build-Up for 2,160 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
$37.6K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$35.1K $16.27/SF
− OpEx
−$10.5K −$4.88/SF
NOI
$24.6K $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%
$491,980
Cap Rate 7%
$351,414
Cap Rate 9%
$273,322
Alternative Uses
Best Use
Multifamily LT 5
$351.4K
$307.5K – $410.0K
NOI $24,599 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$315.2K
$275.8K – $367.7K
NOI $22,064 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$569.9K
$498.6K – $664.9K
NOI $39,891 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Rented apartments feature private laundry, bonus rooms, and hardwood, ceramic tile, and stainless-steel finishes.
Where is this triplex located?
The property is located at 175 Eagle St Albany, NY.
What is the asking price?
The asking price for this property is $368,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,160 square feet; Built in 1856 in Albany’s historic Mansion District; All three apartments are currently rented
