Two-Unit Townhouse with Garden
New
For Sale
$335,000
176 Jay St, Albany, NY 12210
A two-level primary residence is paired with a separate garden-level one-bedroom apartment.
Property Size1,520 SF
Price / SF$220.39
Days on Market1
Property Features for 176 Jay St
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
gas fireplace
central air
hot water heat
jetted tub
deck
garden
Building Details
Year Built
1868
Listing Agency:
Nicole Mclenithan Real Estate
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Oct 1
Last Checked: Oct 1 at 2:15PM
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 Nicole Mclenithan Real Estate
Investment Insights
Based on property information with market context.
This duplex combines a two-level townhouse with a garden-level apartment. The townhouse’s first floor has an open layout, modern kitchen, half bath, and gas fireplace. A deck and low-maintenance garden extend from the kitchen. Upstairs are two bedrooms, a small office, and a full bath with a jetted tub. Central air and hot-water heat serve the townhouse.
The garden-level unit is a one-bedroom apartment with direct garden access. The building was constructed in 1868 and received a 2005 Historic Albany Preservation Award.
The garden-level unit is a one-bedroom apartment with direct garden access. The building was constructed in 1868 and received a 2005 Historic Albany Preservation Award.
Key Highlights
- Two‑level townhouse plus a garden‑level one‑bedroom apartment
- Townhouse includes two bedrooms, a small office, and a full bath with jetted tub
- Open first‑floor plan with modern kitchen, half bath, and gas fireplace
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
$17,310
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
5.17%
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%
$346,200
$346.2K
Cap Rate 7%
$247,286
$247.3K
Cap Rate 9%
$192,333
$192.3K
Market Conditions
NOI Build-Up for 1,520 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
$26.4K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$24.7K $16.27/SF
− OpEx
−$7.4K −$4.88/SF
NOI
$17.3K $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%
$346,200
Cap Rate 7%
$247,286
Cap Rate 9%
$192,333
Alternative Uses
Best Use
Multifamily LT 5
$247.3K
$216.4K – $288.5K
NOI $17,310 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$221.8K
$194.1K – $258.8K
NOI $15,527 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$401.0K
$350.9K – $467.9K
NOI $28,071 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A two-level primary residence is paired with a separate garden-level one-bedroom apartment.
Where is this duplex located?
The property is located at 176 Jay St Albany, NY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two‑level townhouse plus a garden‑level one‑bedroom apartment; Townhouse includes two bedrooms, a small office, and a full bath with jetted tub; Open first‑floor plan with modern kitchen, half bath, and gas fireplace
