Two-Unit Duplex with In-Unit
For Sale
$449,900
Pending
36 2nd St, Albany, NY 12210
Each residence includes two bedrooms, two full bathrooms, one half bath, and an open layout.
Property Size3,416 SF
Days on Market154
Property Features for 36 2nd St
General Information
Standard status
Pending
Size
3,416 SF
Property subtype
Residential Income
Zoning
townhouse district
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,246
Amenities
in unit laundry
Building Details
Year Built
2014
Listing Agency:
Coldwell Banker Prime Properties
(518) 331-6443
Listed By:
Bahrija Basic · License #10401361924
(518) 331-6443
Source:
Exprealty
Added: Mar 20
Changed: Aug 20
Last Checked: Aug 20 at 12:22PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
Built in 2014, this 3,416-square-foot duplex contains two residential units of approximately 1,700 square feet each. Both residences offer two bedrooms, two full bathrooms, one half bath, open-concept interiors, abundant natural light, and in-unit laundry on each floor. The property is positioned on two lots within Albany’s townhouse district and may support conversion to a three-unit configuration, subject to approvals.
The address is near downtown Albany, major highways, restaurants, and local amenities. The combination of two substantial units, updated construction, and separate laundry amenities supports both multifamily ownership and an owner-occupant arrangement, as described in the property information.
The address is near downtown Albany, major highways, restaurants, and local amenities. The combination of two substantial units, updated construction, and separate laundry amenities supports both multifamily ownership and an owner-occupant arrangement, as described in the property information.
Key Highlights
- 3,416‑square‑foot duplex built in 2014
- Two units, each approximately 1,700 square feet
- Each unit includes 2 bedrooms, 2 full bathrooms, and 1 half bath
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
$38,902
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
8.65%
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%
$778,040
$778.0K
Cap Rate 7%
$555,743
$555.7K
Cap Rate 9%
$432,244
$432.2K
Market Conditions
NOI Build-Up for 3,416 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
$59.4K $17.40/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$55.6K $16.27/SF
− OpEx
−$16.7K −$4.88/SF
NOI
$38.9K $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%
$778,040
Cap Rate 7%
$555,743
Cap Rate 9%
$432,244
Alternative Uses
Best Use
Multifamily LT 5
$555.7K
$486.3K – $648.4K
NOI $38,902 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$498.5K
$436.2K – $581.6K
NOI $34,894 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$901.2K
$788.6K – $1.05M
NOI $63,087 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,533
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
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 - Each residence includes two bedrooms, two full bathrooms, one half bath, and an open layout.
Where is this duplex located?
The property is located at 36 2nd St Albany, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,416‑square‑foot duplex built in 2014; Two units, each approximately 1,700 square feet; Each unit includes 2 bedrooms, 2 full bathrooms, and 1 half bath
