Renovated Two-Unit
New
For Sale
$288,900
24 Dubuque Street, Rensselaer, NY 12144
Two updated residences with separate utilities, a leased lower unit, and a fully renovated upper unit ready for occupancy.
Property Size1,396 SF
Price / SF$206.95
Days on Market2
Property Features for 24 Dubuque Street
General Information
Standard status
Active
Size
1,396 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,550
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Brianna Huynh · License #10401360887
(518) 925-3431
Source:
Capmarkrealty
Added: Sep 22
Last Checked: Sep 22 at 1:45PM
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 1,396-square-foot duplex contains two separate residences with independent utilities. Both units feature updated plumbing and electrical systems, modern finishes, and durable improvements. The lower unit is leased, while the upper residence has been fully renovated and is vacant for immediate occupancy. Newer mechanical systems, substantial insulation, and soundproofing between floors further support the property's functionality. Additional improvements include upgraded porches constructed with weather-resistant materials, a rebuilt and repointed chimney, and a main roof that is less than 10 years old.
The property occupies a corner lot at 24 Dubuque Street in Rensselaer, with a wider road that supports convenient street parking. Albany skyline views and access to Albany and surrounding areas add to the property's setting. The duplex configuration, separate utilities, and differing occupancy status provide flexibility for an owner-occupant or rental operator.
The property occupies a corner lot at 24 Dubuque Street in Rensselaer, with a wider road that supports convenient street parking. Albany skyline views and access to Albany and surrounding areas add to the property's setting. The duplex configuration, separate utilities, and differing occupancy status provide flexibility for an owner-occupant or rental operator.
Key Highlights
- Two‑unit duplex with 1,396 square feet and separate utilities
- Fully renovated second‑floor unit is vacant and ready for occupancy
- First‑floor unit is occupied under a new 12‑month lease
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
$18,284
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
6.33%
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%
$365,680
$365.7K
Cap Rate 7%
$261,200
$261.2K
Cap Rate 9%
$203,156
$203.2K
Market Conditions
NOI Build-Up for 1,396 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
$27.6K $19.80/SF
− Vacancy
−$1.5K −$1.09/SF
EGI
$26.1K $18.71/SF
− OpEx
−$7.8K −$5.61/SF
NOI
$18.3K $13.10/SF
Area
Rensselaer County, NY
Vacancy
5.50%
Lease Rate
$19.80 /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%
$365,680
Cap Rate 7%
$261,200
Cap Rate 9%
$203,156
Alternative Uses
Best Use
Multifamily LT 5
$261.2K
$228.6K – $304.7K
NOI $18,284 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,945 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$349.0K
$305.4K – $407.1K
NOI $24,428 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 12144, NY
21,277
Population
10,474
Households
2
Avg Household Size
40
Median Age
38%
College-Educated
93%
High-School Grad
18.3 sq mi
ZIP Area
1,163
Density / Sq Mi
$88,357
Median Household Income
$51,893
Median Earnings
$1,379
Median Rent
$235,300
Median Home Value
Check the figures for this property
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 - Two updated residences with separate utilities, a leased lower unit, and a fully renovated upper unit ready for occupancy.
Where is this duplex located?
The property is located at 24 Dubuque Street Rensselaer, NY.
What is the asking price?
The asking price for this property is $288,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,396 square feet and separate utilities; Fully renovated second‑floor unit is vacant and ready for occupancy; First‑floor unit is occupied under a new 12‑month lease
