Residential Income
New
For Sale
$259,900
2444 Albany Rd, Frankfort, NY 13340
An established residential income property dating to the early twentieth century.
Property Size1,760 SF
Days on Market2
Property Features for 2444 Albany Rd
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,971
Building Details
Building Size
1,760 SF
Year Built
1910
Stories
2
Units
2
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
(315) 570-0148
Listed By:
Alen Zekic · License #10401267029
(315) 570-0148
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:55AM
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 Assist2Sell Buyers & Sellers 1st Choice
Investment Insights
Based on property information with market context.
Built in 1910, this residential income property is located at 2444 Albany Rd in Frankfort, NY 13340. The surrounding area is car-dependent, with a walk score of 0 and a bike score of 8, classified as somewhat bikeable.
Key Highlights
- Built in 1910
- Located at 2444 Albany Rd, Frankfort, NY 13340
- Walk score of 0 indicates a car‑dependent area
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
$14,651
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
5.64%
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%
$293,020
$293.0K
Cap Rate 7%
$209,300
$209.3K
Cap Rate 9%
$162,789
$162.8K
Market Conditions
NOI Build-Up for 1,760 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
$28.5K $16.20/SF
− Vacancy
−$1.9K −$1.06/SF
EGI
$26.6K $15.14/SF
− OpEx
−$12.0K −$6.81/SF
NOI
$14.7K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /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%
$293,020
Cap Rate 7%
$209,300
Cap Rate 9%
$162,789
Alternative Uses
Best Use
Apartment 5plus
$209.3K
$183.1K – $244.2K
NOI $14,651 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$463.8K
$405.8K – $541.1K
NOI $32,466 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 13340, NY
7,652
Population
3,427
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
94%
High-School Grad
60.3 sq mi
ZIP Area
127
Density / Sq Mi
$69,928
Median Household Income
$44,464
Median Earnings
$872
Median Rent
$143,900
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - An established residential income property dating to the early twentieth century.
Where is this residential income property located?
The property is located at 2444 Albany Rd Frankfort, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Built in 1910; Located at 2444 Albany Rd, Frankfort, NY 13340; Walk score of 0 indicates a car‑dependent area
