Two-Family Home with Original
New
For Sale
$314,900
264 Manning Blvd, Albany, NY 12206
Corner-lot duplex with separate utilities, one occupied unit, and a second apartment available for owner occupancy or leasing.
Property Size2,756 SF
Price / SF$114.26
Days on Market4
Property Features for 264 Manning Blvd
General Information
Standard status
Active
Size
2,756 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Country Boy Realty
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 8:39AM
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 Country Boy Realty
Investment Insights
Based on property information with market context.
This 2,756-square-foot duplex, built in 1920, contains two three-bedroom apartments, each with one full bathroom and an updated kitchen. Original woodwork and coffered ceilings add period character, while separate utilities support independent operation of the units.
The first-floor apartment is occupied by a tenant, and the second-floor unit will be vacant at closing. Exterior features include a fenced front yard, covered front porch, and backyard. The property is located at 264 Manning Blvd in Albany, New York, on a corner lot.
The first-floor apartment is occupied by a tenant, and the second-floor unit will be vacant at closing. Exterior features include a fenced front yard, covered front porch, and backyard. The property is located at 264 Manning Blvd in Albany, New York, on a corner lot.
Key Highlights
- 2,756‑square‑foot duplex built in 1920
- Two three‑bedroom, one‑bathroom units
- Separate utilities for each apartment
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
$28,152
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
8.94%
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%
$563,040
$563.0K
Cap Rate 7%
$402,171
$402.2K
Cap Rate 9%
$312,800
$312.8K
Market Conditions
NOI Build-Up for 2,756 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
$54.6K $19.80/SF
− Vacancy
−$3.4K −$1.23/SF
EGI
$51.2K $18.57/SF
− OpEx
−$23.0K −$8.36/SF
NOI
$28.2K $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%
$563,040
Cap Rate 7%
$402,171
Cap Rate 9%
$312,800
Alternative Uses
Best Use
Multifamily LT 5
$448.4K
$392.3K – $523.1K
NOI $31,386 @ 7.0% cap · market cap 9.97%
Second Best
Apartment 5plus
$402.2K
$351.9K – $469.2K
NOI $28,152 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$727.1K
$636.2K – $848.3K
NOI $50,898 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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?
Duplex - Corner-lot duplex with separate utilities, one occupied unit, and a second apartment available for owner occupancy or leasing.
Where is this duplex located?
The property is located at 264 Manning Blvd Albany, NY.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: 2,756‑square‑foot duplex built in 1920; Two three‑bedroom, one‑bathroom units; Separate utilities for each apartment
