Two-Family Brownstone with Garden
For Sale
$350,000
225 Jay Street, Albany, NY 12210
Historic duplex with updated kitchen, hardwood floors, two laundry areas, and public water and sewer.
Property Size2,850 SF
Price / SF$122.81
Days on Market24
Property Features for 225 Jay Street
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Multi-family
Additional Details
Gross Income
$15,600
Utilities to Site
Yes
Multifamily Units
2
Amenities
hardwood floors
fireplaces
renovated kitchen
clawfoot tub
walk-in closet
washer/dryer
Building Details
Year Built
1856
Buildings
1
Construction
brownstone
Listing Agency:
Miuccio Real Estate Group
Listed By:
Nicholas W Miuccio
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 20 at 9:06AM
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 Miuccio Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1856, this two-family brownstone at 225 Jay Street in Albany includes a two-story main residence and a renovated garden apartment. The primary residence features hardwood flooring, two original nonfunctioning fireplaces, an updated kitchen, a full bathroom with a clawfoot tub, a large bedroom, and a walk-in closet. Laundry equipment is located upstairs, while the garden apartment has its own washer and dryer.
The garden unit is leased through February, and the owner currently covers utilities. The property is connected to public water and sewer. The main residence is owner occupied and available to show, offering a distinct duplex configuration with separate living areas within a historic Albany building.
The garden unit is leased through February, and the owner currently covers utilities. The property is connected to public water and sewer. The main residence is owner occupied and available to show, offering a distinct duplex configuration with separate living areas within a historic Albany building.
Key Highlights
- Two‑family brownstone built in 1856
- Renovated garden apartment leased through February
- Main residence includes updated kitchen and hardwood floors
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
$29,112
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
8.32%
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%
$582,240
$582.2K
Cap Rate 7%
$415,886
$415.9K
Cap Rate 9%
$323,467
$323.5K
Market Conditions
NOI Build-Up for 2,850 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
$56.4K $19.80/SF
− Vacancy
−$3.5K −$1.23/SF
EGI
$52.9K $18.57/SF
− OpEx
−$23.8K −$8.36/SF
NOI
$29.1K $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%
$582,240
Cap Rate 7%
$415,886
Cap Rate 9%
$323,467
Alternative Uses
Best Use
Multifamily LT 5
$463.7K
$405.7K – $541.0K
NOI $32,457 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$415.9K
$363.9K – $485.2K
NOI $29,112 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$751.9K
$657.9K – $877.2K
NOI $52,634 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Historic duplex with updated kitchen, hardwood floors, two laundry areas, and public water and sewer.
Where is this duplex located?
The property is located at 225 Jay Street Albany, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑family brownstone built in 1856; Renovated garden apartment leased through February; Main residence includes updated kitchen and hardwood floors
