Building Details

Year Built 1856

Listing Agency: Gallo Realty Adk Inc Show Phone

Listed By: Clancy Real Estate, Inc Show Phone

Source: Clancyrealestate

Added: Oct 7 Changed: Oct 13 Last Checked: Oct 12 at 8:21PM

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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 Gallo Realty Adk Inc

Investment Insights

Based on property information with market context.

This 2,400-square-foot duplex occupies three levels and contains separate residences, with 3 bedrooms and 3.5 bathrooms. Interior features include bamboo and wood flooring, stainless steel appliances, a second-floor washer and dryer, and a tiled bathroom with a soaking tub and skylights. A private backyard extends the property’s living space.

The garden-level residence is leased through 7/1/2027, with the tenant responsible for utilities. Nearby destinations include Washington Park, Hudson/Jay Street Parks, Albany Medical Center, St. Peter’s Hospital, SUNY, Albany Law and Pharmaceutical campuses, and the Lark Street corridor.

Key Highlights

• 2,400‑square‑foot duplex arranged across three levels
• Separate residences with 3 bedrooms and 3.5 bathrooms
• Garden‑level unit leased through 7/1/2027; tenant pays utilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,332

Cap Rate

6.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$546,640 $546.6K

Cap Rate 7%

$390,457 $390.5K

Cap Rate 9%

$303,689 $303.7K

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$41.8K $17.40/SF

− Vacancy

−$2.7K −$1.13/SF

EGI

$39.0K $16.27/SF

− OpEx

−$11.7K −$4.88/SF

NOI

$27.3K $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 Rate 5%

$546,640

Cap Rate 7%

$390,457

Cap Rate 9%

$303,689

Alternative Uses

Best Use

Multifamily LT 5

$390.5K

$341.7K – $455.5K (±1% cap)

NOI $27,332 @ 7.0% cap · market cap 6.10%

Second Best

Apartment 5plus

$350.2K

$306.5K – $408.6K (±1% cap)

NOI $24,516 @ 7.0% cap · market cap 5.47%

Theoretical Best

Office A

$633.2K

$554.0K – $738.7K (±1% cap)

NOI $44,323 @ 7.0% cap · market cap 9.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Furniture & Home Goods Carpet & Flooring Store Home Appliance Store Electrical Service (Bike/Boat/Book/etc) Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,369

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Separate residences include a garden-level unit and a private backyard.

Where is this duplex located?

The property is located at 204 Jay St Albany, NY.

What is the asking price?

The asking price for this property is $448,000.

What are key features of this property?

This property features: 2,400‑square‑foot duplex arranged across three levels; Separate residences with 3 bedrooms and 3.5 bathrooms; Garden‑level unit leased through 7/1/2027; tenant pays utilities