Two-Family Corner
For Sale
$490,000
319 McCarty Avenue, Albany, NY 12209
MULTI_FAMILY - Other - Albany, NY
Property Size2,808 SF
Lot Size0.12 Acres
Price / SF$174.50
Days on Market41
Property Features for 319 McCarty Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 5
Basement
Full, Unfinished
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Corner of S.Berta Street and McCarty Avenue.
Standard status
Active
APN
010100 76.69-5-31
Size
2,808 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6740
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1925
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Brick, Wood Siding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Realty One Group Key
(518) 630-5360
Listed By:
Jasilia Martinez · License #10401300894
(518) 596-7262
Added: Jul 11
Changed: Aug 13
Last Checked: Aug 20 at 10:06AM
MLS# 202621604
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,808-square-foot duplex contains two residential units, with each unit arranged with three bedrooms, one bathroom, a living room, and a kitchen. The 1925 property has brick and wood siding, hardwood and vinyl flooring, hot water heat, natural gas service, public water, and public sewer. A fenced parking garage is also included.
The building occupies a corner position on McCarty Avenue in Albany and is accompanied by two additional tax parcels. The three parcels are identified as 319, 317, and 315, with the structure located on lot 319. Highway access, shopping, a hospital, and schools are located nearby.
The building occupies a corner position on McCarty Avenue in Albany and is accompanied by two additional tax parcels. The three parcels are identified as 319, 317, and 315, with the structure located on lot 319. Highway access, shopping, a hospital, and schools are located nearby.
Key Highlights
- 2,808‑square‑foot duplex with two residential units
- Each unit includes 3 bedrooms, 1 bathroom, a living room, and a kitchen
- Three separate tax parcels: 319, 317, and 315
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
$31,978
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
6.53%
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%
$639,560
$639.6K
Cap Rate 7%
$456,829
$456.8K
Cap Rate 9%
$355,311
$355.3K
Market Conditions
NOI Build-Up for 2,808 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
$48.9K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.7K $16.27/SF
− OpEx
−$13.7K −$4.88/SF
NOI
$32.0K $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%
$639,560
Cap Rate 7%
$456,829
Cap Rate 9%
$355,311
Alternative Uses
Best Use
Multifamily LT 5
$456.8K
$399.7K – $533.0K
NOI $31,978 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$409.8K
$358.5K – $478.1K
NOI $28,683 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$740.8K
$648.2K – $864.3K
NOI $51,858 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
448
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each offer three bedrooms, one bathroom, a living room, and a kitchen.
Where is this duplex located?
The property is located at 319 McCarty Avenue Albany, NY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2,808‑square‑foot duplex with two residential units; Each unit includes 3 bedrooms, 1 bathroom, a living room, and a kitchen; Three separate tax parcels: 319, 317, and 315
