282 Yates Street, Albany, NY 12208
Renovated two-unit residence with two 3-bedroom layouts and documented rental income potential near Albany Medical Center.
- Added:
- Mar 31, 2026
- Days on Market:
- 77
- Last Refresh:
- Jun 5 at 2:23 am
Property Features for 282 Yates Street
General Information
- Standard status
- Active
- Size
- 2,232 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agent Yan Wang (518) 639-4663
Listing office Realty One Group Key
Listing date Mar 31, 2026
Source Signatureonerealtygroup
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HighLights
- Updated two‑family home with two 3‑bedroom, 2 full bathroom units
- Current rental income of approximately $3,700/month ($1,800 + $1,900)
- Rental income potential to increase to $1,850–$1,950 per unit
- First‑floor unit fully renovated in 2023; second‑floor bathroom updated in 2025
- Updates include new water heater, maintenance‑free front porch (2024), reinforced foundation (2024), and attic insulation (2020)
- Well‑maintained slate roof; located near Albany Medical Center, downtown Albany, and public transportation
Overview
The property is located in Albany near Albany Medical Center and downtown Albany, with convenient access to public transportation. It is described as being just minutes from Washington Park and close to hospitals, colleges, restaurants, and major employers, which can be an advantage for tenants seeking everyday convenience.
For investors or owner-occupants, the current configuration is designed to support rental use, with approximately $3,700 per month in rental income (split between $1,800 and $1,900). The remarks also cite potential rent increases to a range of $1,850 to $1,950 per unit. With two 3-bedroom, 2-bath units, the property may appeal to tenants who want more space while remaining near major institutional and employment centers.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $17.40 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $36.3k | $16.27 |
| − OpEx | −$10.9k | −$4.88 |
| NOI | $25.4k | $11.39 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.7798925
- Latitude
- 42.6582277
