Duplex with Loft-Style Upper
For Sale
$289,000
377 Hamilton Street, Albany, NY 12210
Two-family duplex with a private fenced backyard and a loft-style upper unit with the bedroom on its own level.
Property Size1,625 SF
Price / SF$177.85
Days on Market101
Property Features for 377 Hamilton Street
General Information
Standard status
Active
Size
1,625 SF
Property subtype
Multi-family
Building Details
Year Built
1851
Listing Agency:
The People's Real Estate Group
Listed By:
Hassan Khan
(518) 639-4663
Source:
Signatureonerealtygroup
Added: May 15
Changed: Aug 21
Last Checked: Aug 22 at 9:04AM
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 The People's Real Estate Group
Investment Insights
Based on property information with market context.
This duplex features two separate units and approximately 1,625 SF of total property size. The upper unit offers a loft-style layout with the bedroom on its own level, creating separation between living and sleeping areas. The property also includes a private fenced backyard, providing outdoor space for relaxing or gardening.
Located on a quiet, tree-lined one-way street, the home is just steps from the Lark Street district, with convenient access to restaurants, cafes, shops, parks, and entertainment.
Built in 1851, this two-family property combines classic character with practical, functional layout elements that can support both owner-occupancy and investment use.
Located on a quiet, tree-lined one-way street, the home is just steps from the Lark Street district, with convenient access to restaurants, cafes, shops, parks, and entertainment.
Built in 1851, this two-family property combines classic character with practical, functional layout elements that can support both owner-occupancy and investment use.
Key Highlights
- Loft‑style upper unit with bedroom on its own level
- Private fenced backyard
- Quiet, tree‑lined one‑way street setting
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
$18,506
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
6.40%
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%
$370,120
$370.1K
Cap Rate 7%
$264,371
$264.4K
Cap Rate 9%
$205,622
$205.6K
Market Conditions
NOI Build-Up for 1,625 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
$28.3K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$26.4K $16.27/SF
− OpEx
−$7.9K −$4.88/SF
NOI
$18.5K $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%
$370,120
Cap Rate 7%
$264,371
Cap Rate 9%
$205,622
Alternative Uses
Best Use
Multifamily LT 5
$264.4K
$231.3K – $308.4K
NOI $18,506 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$428.7K
$375.1K – $500.2K
NOI $30,011 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,281
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 - Two-family duplex with a private fenced backyard and a loft-style upper unit with the bedroom on its own level.
Where is this duplex located?
The property is located at 377 Hamilton Street Albany, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Loft‑style upper unit with bedroom on its own level; Private fenced backyard; Quiet, tree‑lined one‑way street setting
