Historic Duplex with Fenced
For Sale
$368,000
282 Lark St, Albany, NY 12210
Two-family property featuring flexible living space, an updated kitchen, stainless steel appliances, and private outdoor space.
Property Size2,016 SF
Price / SF$182.54
Days on Market25
Property Features for 282 Lark St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,141
Amenities
in-unit laundry
fenced backyard
Building Details
Buildings
1
Listing Agency:
Renovo Real Estate
(518) 878-9298
Listed By:
Ana G Montemayor · License #10401357619
(518) 878-9298
Source:
Exprealty
Added: Jul 30
Changed: Aug 22
Last Checked: Aug 23 at 3:29AM
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 Renovo Real Estate
Investment Insights
Based on property information with market context.
This 2,016-square-foot historic duplex at 282 Lark St offers two residential units with distinctive architectural character, including high ceilings, hardwood floors, decorative fireplaces, and preserved original details. The first unit occupies two levels and includes an open layout, 1.5 baths, in-unit laundry, and an updated kitchen with stainless steel appliances. Both units have access to a private, fenced backyard.
The property is positioned in Albany’s Center Square neighborhood, near Washington Park, Empire State Plaza, Lark Street, restaurants, cafés, and entertainment. Its two-unit configuration supports owner occupancy with rental income or continued use as a residential income property.
The property is positioned in Albany’s Center Square neighborhood, near Washington Park, Empire State Plaza, Lark Street, restaurants, cafés, and entertainment. Its two-unit configuration supports owner occupancy with rental income or continued use as a residential income property.
Key Highlights
- 2,016‑square‑foot historic duplex at 282 Lark St, Albany, NY
- Two residential units with private access to a fenced backyard
- First unit spans two levels and includes 1.5 baths
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
$22,959
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
6.24%
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%
$459,180
$459.2K
Cap Rate 7%
$327,986
$328.0K
Cap Rate 9%
$255,100
$255.1K
Market Conditions
NOI Build-Up for 2,016 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
$35.1K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$32.8K $16.27/SF
− OpEx
−$9.8K −$4.88/SF
NOI
$23.0K $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 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%
$459,180
Cap Rate 7%
$327,986
Cap Rate 9%
$255,100
Alternative Uses
Best Use
Multifamily LT 5
$328.0K
$287.0K – $382.7K
NOI $22,959 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$294.2K
$257.4K – $343.2K
NOI $20,593 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$531.9K
$465.4K – $620.5K
NOI $37,231 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property featuring flexible living space, an updated kitchen, stainless steel appliances, and private outdoor space.
Where is this duplex located?
The property is located at 282 Lark St Albany, NY.
What is the asking price?
The asking price for this property is $368,000.
What are key features of this property?
This property features: 2,016‑square‑foot historic duplex at 282 Lark St, Albany, NY; Two residential units with private access to a fenced backyard; First unit spans two levels and includes 1.5 baths
