Duplex with Partially Finished
29 Turner Lane, Albany, NY 12211
For Sale
$399,900
Two separate units provide a flexible layout for owner occupancy and rental use.
Property Size1,548 SF
Price / SF$258.33
Days on Market18
Property Features for 29 Turner Lane
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Moonrani G Gumani · License #10401352209
(201) 238-4972
Source:
Exprealty
Added: Oct 21
Changed: Nov 6
Last Checked: Nov 6 at 2:24PM
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 Miranda Real Estate Group Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This legal two-family property contains two units with a combined 5 bedrooms and 2 full bathrooms across 1,548 square feet. The basement is partially finished, with additional space that may be completed subject to required approvals. Front and rear yards provide outdoor space around the home.
Located in Albany’s Whitehall neighborhood, the property offers a two-unit residential configuration with a mix of indoor and outdoor space.
Located in Albany’s Whitehall neighborhood, the property offers a two-unit residential configuration with a mix of indoor and outdoor space.
Key Highlights
- Legal two‑family property with 5 bedrooms and 2 full bathrooms across two units
- 1,548 square feet of property area
- Partially finished basement with completion subject to required approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,629
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,580
$352.6K
Cap Rate 7%
$251,843
$251.8K
Cap Rate 9%
$195,878
$195.9K
Market Conditions
NOI Build-Up for 1,548 SF
Gross rent
$26.9K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$25.2K $16.27/SF
− OpEx
−$7.6K −$4.88/SF
NOI
$17.6K $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 Rate 5%
$352,580
Cap Rate 7%
$251,843
Cap Rate 9%
$195,878
Alternative Uses
Best Use
Multifamily LT 5
$251.8K
$220.4K – $293.8K
NOI $17,629 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$225.9K
$197.7K – $263.6K
NOI $15,813 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$408.4K
$357.4K – $476.5K
NOI $28,588 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 12211, NY
13,532
Population
4,561
Households
3
Avg Household Size
41
Median Age
59%
College-Educated
99%
High-School Grad
8.1 sq mi
ZIP Area
1,671
Density / Sq Mi
$145,709
Median Household Income
$48,658
Median Earnings
$2,685
Median Rent
$396,400
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Albany, NY
Properties on Market for Duplexes in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units provide a flexible layout for owner occupancy and rental use.
Where is this duplex located?
The property is located at 29 Turner Lane Albany, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Legal two‑family property with 5 bedrooms and 2 full bathrooms across two units; 1,548 square feet of property area; Partially finished basement with completion subject to required approvals
