Multifamily Property with Separate
New
For Sale
$425,000
288-290 Yates Street, Albany, NY 12208
Income-producing multifamily property with separate utility services and established tenancy.
Property Size2,800 SF
Price / SF$151.79
Days on Market7
Property Features for 288-290 Yates Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Listing Agency:
M J J Realty
Listed By:
Shawn D Clark Sr
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Sep 6
Changed: Sep 11
Last Checked: Sep 12 at 9:57AM
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 M J J Realty
Investment Insights
Based on property information with market context.
This multifamily property contains 2,800 square feet and was constructed in 1900. Separate utilities serve the property, while long-term tenants are already in place. The asset is offered in its existing condition and may suit investors seeking an established residential income property.
Showings require 48 hours’ notice, with either pre-approval documentation or proof of funds required before an appointment is confirmed.
Showings require 48 hours’ notice, with either pre-approval documentation or proof of funds required before an appointment is confirmed.
Key Highlights
- 2,800‑square‑foot multifamily property
- Built in 1900
- Separate utilities
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
$31,887
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
7.50%
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%
$637,740
$637.7K
Cap Rate 7%
$455,529
$455.5K
Cap Rate 9%
$354,300
$354.3K
Market Conditions
NOI Build-Up for 2,800 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
$48.7K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.6K $16.27/SF
− OpEx
−$13.7K −$4.88/SF
NOI
$31.9K $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%
$637,740
Cap Rate 7%
$455,529
Cap Rate 9%
$354,300
Alternative Uses
Best Use
Multifamily LT 5
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$408.6K
$357.5K – $476.7K
NOI $28,601 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing multifamily property with separate utility services and established tenancy.
Where is this multifamily property located?
The property is located at 288-290 Yates Street Albany, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,800‑square‑foot multifamily property; Built in 1900; Separate utilities
