Two-Unit Duplex with
For Sale
$399,900
Pending
29 Turner Place, Albany, NY 12209
Two units offer the option to live in one and rent the other.
Property Size2,079 SF
Days on Market8
Property Features for 29 Turner Place
General Information
Standard status
Pending
Size
2,079 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1935
Listing Agency:
M J J Realty
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Oct 23
Changed: Oct 28
Last Checked: Oct 30 at 1:55PM
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
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Investment Insights
Based on property information with market context.
This Albany duplex contains two units with a combined five bedrooms and two full bathrooms. The 2,079-square-foot property, built in 1935, also has living areas, kitchens, finished bathrooms, and a partially completed basement with storage space. The remaining basement area may be finished subject to required approvals.
A front yard and backyard provide outdoor space. The two-unit configuration allows an owner to occupy one unit while renting the other, or to use the property as a rental investment.
A front yard and backyard provide outdoor space. The two-unit configuration allows an owner to occupy one unit while renting the other, or to use the property as a rental investment.
Key Highlights
- Two units with a combined total of 5 bedrooms and 2 full bathrooms
- 2,079 square feet; built in 1935
- Partially finished basement includes storage; completion of remaining area is subject to required approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,676
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,520
$473.5K
Cap Rate 7%
$338,229
$338.2K
Cap Rate 9%
$263,067
$263.1K
Market Conditions
NOI Build-Up for 2,079 SF
Gross rent
$36.2K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$33.8K $16.27/SF
− OpEx
−$10.1K −$4.88/SF
NOI
$23.7K $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%
$473,520
Cap Rate 7%
$338,229
Cap Rate 9%
$263,067
Alternative Uses
Best Use
Multifamily LT 5
$338.2K
$296.0K – $394.6K
NOI $23,676 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$303.4K
$265.5K – $354.0K
NOI $21,237 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$548.5K
$479.9K – $639.9K
NOI $38,395 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,095
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two units offer the option to live in one and rent the other.
Where is this duplex located?
The property is located at 29 Turner Place 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: Two units with a combined total of 5 bedrooms and 2 full bathrooms; 2,079 square feet; built in 1935; Partially finished basement includes storage; completion of remaining area is subject to required approvals
