Two-Family Home with Four-Car
For Sale
$399,000
Pending
20 Alden Ave, Albany, NY 12209
Well-maintained duplex with separate living areas, porches, basement storage, and convenient regional highway access.
Property Size2,354 SF
Days on Market43
Property Features for 20 Alden Ave
General Information
Standard status
Pending
Size
2,354 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,535
Listing Agency:
Coldwell Banker Prime Properties
(518) 466-3679
Listed By:
Carolyn M Luke
(518) 466-3679
Source:
Exprealty
Added: Jul 9
Changed: Aug 13
Last Checked: Aug 20 at 12:30PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This two-family property at 20 Alden Ave in Albany provides 2,354 square feet across two residential units. The first-floor residence includes 3 bedrooms, a full bath, living and dining rooms, hardwood flooring, original woodwork, and basement washer/dryer hookups. The second-floor unit has 2 bedrooms, a full bath, living and dining rooms, an updated kitchen and bath, newer vinyl flooring, and fresh paint. Both units include washer/dryer arrangements.
The property occupies a double lot and includes front and rear porches, a dry basement, a walk-up attic for additional storage, and a four-car garage. Access to I-787 and the NYS Thruway supports regional commuting. Weekend showings are available.
The property occupies a double lot and includes front and rear porches, a dry basement, a walk-up attic for additional storage, and a four-car garage. Access to I-787 and the NYS Thruway supports regional commuting. Weekend showings are available.
Key Highlights
- Two‑family property with 2,354 square feet
- First‑floor unit includes 3 bedrooms and hardwood flooring
- Second‑floor unit offers 2 bedrooms, updated kitchen and bath, and newer vinyl flooring
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
$26,808
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
6.72%
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%
$536,160
$536.2K
Cap Rate 7%
$382,971
$383.0K
Cap Rate 9%
$297,867
$297.9K
Market Conditions
NOI Build-Up for 2,354 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
$41.0K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.3K $16.27/SF
− OpEx
−$11.5K −$4.88/SF
NOI
$26.8K $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%
$536,160
Cap Rate 7%
$382,971
Cap Rate 9%
$297,867
Alternative Uses
Best Use
Multifamily LT 5
$383.0K
$335.1K – $446.8K
NOI $26,808 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$343.5K
$300.6K – $400.8K
NOI $24,046 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$621.1K
$543.4K – $724.6K
NOI $43,474 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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 - Well-maintained duplex with separate living areas, porches, basement storage, and convenient regional highway access.
Where is this duplex located?
The property is located at 20 Alden Ave Albany, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑family property with 2,354 square feet; First‑floor unit includes 3 bedrooms and hardwood flooring; Second‑floor unit offers 2 bedrooms, updated kitchen and bath, and newer vinyl flooring
