3-Unit Triplex with Fenced
249 Manning Boulevard, Albany, NY 12206
For Sale
$374,000
MultiFamily, Albany, NY
Property Size2,520 SF
Lot Size0.13 Acres
Price / SF$148.41
Days on Market51
Property Features for 249 Manning Boulevard
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Patio and Porch features
Interior features
Fireplace
Basement
Lot features
Elementary school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Red Door Realty NY Inc
(518) 899-9500
Listed By:
Robin R Boice · License NY #10401307703
(518) 932-1771
Added: Sep 25
Changed: Nov 6
Last Checked: Nov 14 at 1:06AM
MLS# 202626984
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1920 triplex contains 2,520 square feet across three apartments. The first-floor unit has a four- to five-bedroom layout; two one-bedroom apartments occupy the second floor, each with its own porch. Interior details include hardwood flooring, crown molding, built-in features, and a fireplace. The property also has a fenced yard and off-street parking.
The 0.13-acre parcel is zoned Multi Residence. Public water and sewer serve the property, and natural gas provides hot water heating. Colleges, hospitals, shopping, and restaurants are among the nearby amenities.
The 0.13-acre parcel is zoned Multi Residence. Public water and sewer serve the property, and natural gas provides hot water heating. Colleges, hospitals, shopping, and restaurants are among the nearby amenities.
Key Highlights
- Three apartments: one first‑floor unit with 4 to 5 bedrooms and two second‑floor one‑bedroom units
- 2,520 square feet of property area
- 0.13‑acre parcel zoned Multi Residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,699
Cap Rate
7.67%
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 7.67%
Second Best
Apartment 5plus
$367.7K
$321.8K – $429.0K
NOI $25,741 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$664.8K
$581.7K – $775.7K
NOI $46,539 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
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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
$162,300
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Albany, NY
Properties on Market for Triplexes in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The first-floor residence has four to five bedrooms, while each of the two upper apartments has one bedroom and a porch.
Where is this triplex located?
The property is located at 249 Manning Boulevard Albany, NY.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Three apartments: one first‑floor unit with 4 to 5 bedrooms and two second‑floor one‑bedroom units; 2,520 square feet of property area; 0.13‑acre parcel zoned Multi Residence
