Renovated Duplex with
For Sale
$349,000
325 Manning Blvd, Albany, NY 12206
Two-unit property includes updated kitchens, renovated baths, basement laundry, and front and rear sunrooms.
Property Size2,300 SF
Price / SF$151.74
Days on Market16
Property Features for 325 Manning Blvd
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
6
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,895
Amenities
coin-operated laundry machines
front and rear sunrooms
Building Details
Year Renovated
2017
Buildings
1
Listing Agency:
Eunice & Co Realty
(518) 461-3061
Listed By:
Eunice H Dawson · License #10301224670
(518) 461-3061
Source:
Exprealty
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 5:23AM
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 Eunice & Co Realty
Investment Insights
Based on property information with market context.
Located at 325 Manning Blvd in Albany, NY, this 2,300-square-foot duplex includes two residential units and a renovation completed in 2017. Improvements include updated kitchens with granite countertops, renovated bathrooms, new windows, and new boilers. Each unit has both front and rear sunrooms, adding flexible supplemental living space.
The basement contains coin-operated laundry machines. Exterior parking includes a four-car driveway, while the property also provides a two-car garage. The configuration supports either an owner-occupant seeking additional residential space or an investor acquiring a two-unit rental property.
The basement contains coin-operated laundry machines. Exterior parking includes a four-car driveway, while the property also provides a two-car garage. The configuration supports either an owner-occupant seeking additional residential space or an investor acquiring a two-unit rental property.
Key Highlights
- 2,300‑square‑foot duplex with two residential units
- Complete renovation completed in 2017
- Updated kitchens with granite countertops and renovated bathrooms
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
$26,193
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
7.51%
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%
$523,860
$523.9K
Cap Rate 7%
$374,186
$374.2K
Cap Rate 9%
$291,033
$291.0K
Market Conditions
NOI Build-Up for 2,300 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
$40.0K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.4K $16.27/SF
− OpEx
−$11.2K −$4.88/SF
NOI
$26.2K $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%
$523,860
Cap Rate 7%
$374,186
Cap Rate 9%
$291,033
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.6K
NOI $26,193 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$335.6K
$293.7K – $391.6K
NOI $23,494 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$606.8K
$531.0K – $707.9K
NOI $42,476 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
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-unit property includes updated kitchens, renovated baths, basement laundry, and front and rear sunrooms.
Where is this duplex located?
The property is located at 325 Manning Blvd Albany, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,300‑square‑foot duplex with two residential units; Complete renovation completed in 2017; Updated kitchens with granite countertops and renovated bathrooms
