Historic Duplex with Fenced
For Sale
$368,000
282 Lark Street, Albany, NY 12210
MultiFamily, Albany, NY
Property Size2,016 SF
Lot Size0.02 Acres
Price / SF$182.54
Days on Market40
Property Features for 282 Lark Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Off Street
Patio and Porch features
Patio
Exterior features
Garden
Basement
Apartment
View
City
Elementary school
Giffen Memorial
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Madison to Lark.
Standard status
Active
APN
010100 76.24-5-68
Size
2,016 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
8141
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
in-unit laundry
fenced backyard
decorative fireplaces
Building Details
Year built
1869
Number of units
2
Flooring type
Linoleum, Tile - Ceramic, Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
Renovo Real Estate LLC
(518) 288-3349
Listed By:
Ana G Montemayor · License #10401357619
(518) 878-9298
Added: Jul 30
Changed: Sep 2
Last Checked: Sep 7 at 6:06AM
MLS# 202622886
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.
Investment Insights
Based on property information with market context.
Built in 1869, this 2,016-square-foot brick duplex combines period character with practical residential features. The first unit occupies two levels and includes an open layout, 1.5 baths, in-unit laundry, and an updated kitchen equipped with stainless steel appliances. Hardwood flooring, decorative fireplaces, high ceilings, and original architectural details contribute to the building’s historic character, while the second unit supports the property’s two-family configuration.
Both units have access to a private fenced backyard with a patio. The property also includes off-street parking, public water, and public sewer. Located at 282 Lark Street in Albany’s Center Square neighborhood, it is near Washington Park, Empire State Plaza, Lark Street, restaurants, cafes, and entertainment venues.
Both units have access to a private fenced backyard with a patio. The property also includes off-street parking, public water, and public sewer. Located at 282 Lark Street in Albany’s Center Square neighborhood, it is near Washington Park, Empire State Plaza, Lark Street, restaurants, cafes, and entertainment venues.
Key Highlights
- 2,016 square feet on a 0.02‑acre lot
- Built in 1869 with brick construction and original architectural details
- First unit spans two levels and includes 1.5 baths and in‑unit laundry
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 - Brick two-family property with hardwood floors, a two-level first unit, updated kitchen, and shared private outdoor space.
Where is this duplex located?
The property is located at 282 Lark Street 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 feet on a 0.02‑acre lot; Built in 1869 with brick construction and original architectural details; First unit spans two levels and includes 1.5 baths and in‑unit laundry
