Duplex with 2-Car
For Sale
$379,900
18 Mccrossin Avenue, Albany, NY 12206
One apartment is rented, while the other is vacant and ready for occupancy.
Property Size3,112 SF
Price / SF$122.08
Days on Market9
Property Features for 18 Mccrossin Avenue
General Information
Standard status
Active
Size
3,112 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Empire Real Estate Firm LLC
Listed By:
Sean Daley
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 20 at 8:45AM
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 Empire Real Estate Firm LLC
Investment Insights
Based on property information with market context.
This 3,112-square-foot duplex at 18 Mccrossin Avenue includes two three-bedroom apartments, each with one full bathroom, a living room, and a kitchen. Bathroom updates have been completed, and the property offers off-street parking along with a 2-car garage. Built in 1920, the building provides a two-unit configuration with one apartment currently rented and the other vacant for occupancy.
The property is located in Albany, NY 12206. Its existing layout supports an owner-occupant arrangement or continued use as a two-unit residential property, subject to applicable requirements.
The property is located in Albany, NY 12206. Its existing layout supports an owner-occupant arrangement or continued use as a two-unit residential property, subject to applicable requirements.
Key Highlights
- Two‑unit property with 3,112 square feet
- Each apartment includes 3 bedrooms and 1 full bathroom
- One unit is rented; the second is vacant
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
$31,789
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
8.37%
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%
$635,780
$635.8K
Cap Rate 7%
$454,129
$454.1K
Cap Rate 9%
$353,211
$353.2K
Market Conditions
NOI Build-Up for 3,112 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
$61.6K $19.80/SF
− Vacancy
−$3.8K −$1.23/SF
EGI
$57.8K $18.57/SF
− OpEx
−$26.0K −$8.36/SF
NOI
$31.8K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$635,780
Cap Rate 7%
$454,129
Cap Rate 9%
$353,211
Alternative Uses
Best Use
Multifamily LT 5
$506.3K
$443.0K – $590.7K
NOI $35,440 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$454.1K
$397.4K – $529.8K
NOI $31,789 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$821.0K
$718.4K – $957.9K
NOI $57,472 @ 7.0% cap · market cap 15.13%
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
1,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
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 - One apartment is rented, while the other is vacant and ready for occupancy.
Where is this duplex located?
The property is located at 18 Mccrossin Avenue Albany, NY.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit property with 3,112 square feet; Each apartment includes 3 bedrooms and 1 full bathroom; One unit is rented; the second is vacant
