Triplex with Private
For Sale
$395,000
249 Manning Blvd, Albany, NY 12206
Three apartments include a larger first-floor residence and two upstairs units, each with its own porch.
Property Size2,520 SF
Price / SF$156.75
Days on Market8
Property Features for 249 Manning Blvd
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4-5BR, 2 x 1BR
Multifamily Units
3
Amenities
private porch
fenced yard
Building Details
Year Built
1920
Listing Agency:
Re Max Solutions
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 28
Changed: Oct 4
Last Checked: Oct 4 at 9:04AM
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 Re Max Solutions
Investment Insights
Based on property information with market context.
This 1920 triplex in Albany contains three apartments. The first-floor unit has 4 to 5 bedrooms, while the second floor has two one-bedroom apartments, each with a private porch. A fenced yard provides shared outdoor space.
At 249 Manning Blvd, the property is near colleges, hospitals, shopping, and restaurants.
At 249 Manning Blvd, the property is near colleges, hospitals, shopping, and restaurants.
Key Highlights
- Three‑apartment triplex built in 1920
- First‑floor apartment has 4 to 5 bedrooms
- Two second‑floor apartments, each with one bedroom and a private porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,699
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,980
$574.0K
Cap Rate 7%
$409,986
$410.0K
Cap Rate 9%
$318,878
$318.9K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$43.8K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.0K $16.27/SF
− OpEx
−$12.3K −$4.88/SF
NOI
$28.7K $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%
$573,980
Cap Rate 7%
$409,986
Cap Rate 9%
$318,878
Alternative Uses
Best Use
Multifamily LT 5
$410.0K
$358.7K – $478.3K
NOI $28,699 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$367.7K
$321.8K – $429.0K
NOI $25,741 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$664.8K
$581.7K – $775.7K
NOI $46,539 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
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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?
Triplex - Three apartments include a larger first-floor residence and two upstairs units, each with its own porch.
Where is this triplex located?
The property is located at 249 Manning Blvd Albany, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three‑apartment triplex built in 1920; First‑floor apartment has 4 to 5 bedrooms; Two second‑floor apartments, each with one bedroom and a private porch
