Brick Duplex with Separate
For Sale
$280,000
29 Bertha Street, Albany, NY 12209
Two matching apartments, a new roof, hardwood floors, and basement laundry support flexible occupancy and rental use.
Property Size2,252 SF
Price / SF$124.33
Days on Market9
Property Features for 29 Bertha Street
General Information
Standard status
Active
Size
2,252 SF
Property subtype
Multi-family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
laundry
Building Details
Year Built
1925
Buildings
1
Construction
solid brick
Listing Agency:
New Scotland Realty
Listed By:
Samantha M Curry
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Sep 6
Changed: Sep 13
Last Checked: Sep 14 at 7:34AM
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 New Scotland Realty
Investment Insights
Based on property information with market context.
Built in 1925, this 2,252-square-foot brick duplex at 29 Bertha St in Albany includes two apartments with matching layouts and hardwood flooring. The roof has been replaced, and each unit is separately metered for utilities. Laundry facilities are located in the basement, while street parking serves the property.
The first-floor apartment is vacant, creating flexibility for an owner occupant or a buyer planning to place the unit into service. The second apartment provides an additional residential component, and both units can be reviewed through the available 3D tour and showing process.
The first-floor apartment is vacant, creating flexibility for an owner occupant or a buyer planning to place the unit into service. The second apartment provides an additional residential component, and both units can be reviewed through the available 3D tour and showing process.
Key Highlights
- 2,252 SF brick duplex built in 1925
- Two apartments with matching layouts
- New roof and hardwood flooring throughout
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
$25,646
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
9.16%
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%
$512,920
$512.9K
Cap Rate 7%
$366,371
$366.4K
Cap Rate 9%
$284,956
$285.0K
Market Conditions
NOI Build-Up for 2,252 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
$39.2K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$36.6K $16.27/SF
− OpEx
−$11.0K −$4.88/SF
NOI
$25.6K $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%
$512,920
Cap Rate 7%
$366,371
Cap Rate 9%
$284,956
Alternative Uses
Best Use
Multifamily LT 5
$366.4K
$320.6K – $427.4K
NOI $25,646 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$328.6K
$287.6K – $383.4K
NOI $23,004 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$594.1K
$519.9K – $693.2K
NOI $41,590 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
Median Home Value
Check the figures for this property
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 - Two matching apartments, a new roof, hardwood floors, and basement laundry support flexible occupancy and rental use.
Where is this duplex located?
The property is located at 29 Bertha Street Albany, NY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2,252 SF brick duplex built in 1925; Two apartments with matching layouts; New roof and hardwood flooring throughout
