Updated 2-Unit
New
For Sale
$360,000
39 Irving Street, Albany, NY 12202
Both apartments feature updated kitchens and baths, with distinct layouts and ample closet and storage space.
Property Size1,470 SF
Price / SF$244.90
Days on Market3
Property Features for 39 Irving Street
General Information
Standard status
Active
Size
1,470 SF
Property subtype
Multi-Family
Zoning
Multi Residence
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,350
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,279
Amenities
fenced in backyard
gardens
back porch
Building Details
Year Built
1893
Listing Agency:
Hunt Real Estate ERA
Listed By:
Tina Marie Smith
(518) 496-6858
Source:
Capmarkrealty
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 12:40PM
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 Hunt Real Estate ERA
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Investment Insights
Based on property information with market context.
This 1,470-square-foot duplex, built in 1893, contains two one-bedroom apartments and is zoned Multi Residence. The lower home has one bath, an open living room, a kitchen with breakfast bar and solid-surface counters, and a washer and dryer. Upstairs, the apartment includes a renovated bathroom, vaulted ceiling, spacious living room, reading nook, kitchen with breakfast nook, and back porch. Both units have new appliances, vinyl flooring, fresh paint, and ample storage. Recent building work includes a new roof, exterior paint, front stairs, and basement window.
The property is in Albany’s Center Square and Hudson Park Historic District. Albany Med is four blocks away, and the listing identifies Washington Park, MVP Arena, Empire State Plaza, downtown employment, restaurants, galleries, boutiques, and the farmers market as walkable destinations. Parking is on street with a residential permit.
The property is in Albany’s Center Square and Hudson Park Historic District. Albany Med is four blocks away, and the listing identifies Washington Park, MVP Arena, Empire State Plaza, downtown employment, restaurants, galleries, boutiques, and the farmers market as walkable destinations. Parking is on street with a residential permit.
Key Highlights
- Two one‑bedroom apartments in a 1,470‑square‑foot duplex
- Multi Residence zoning
- Lower unit includes a breakfast bar, solid‑surface counters, washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,741
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,820
$334.8K
Cap Rate 7%
$239,157
$239.2K
Cap Rate 9%
$186,011
$186.0K
Market Conditions
NOI Build-Up for 1,470 SF
Gross rent
$25.6K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$23.9K $16.27/SF
− OpEx
−$7.2K −$4.88/SF
NOI
$16.7K $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%
$334,820
Cap Rate 7%
$239,157
Cap Rate 9%
$186,011
Alternative Uses
Best Use
Multifamily LT 5
$239.2K
$209.3K – $279.0K
NOI $16,741 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$214.5K
$187.7K – $250.3K
NOI $15,016 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$387.8K
$339.4K – $452.5K
NOI $27,148 @ 7.0% cap · market cap 7.54%
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
4,105
Businesses Nearby
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Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
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 - Both apartments feature updated kitchens and baths, with distinct layouts and ample closet and storage space.
Where is this duplex located?
The property is located at 39 Irving Street Albany, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two one‑bedroom apartments in a 1,470‑square‑foot duplex; Multi Residence zoning; Lower unit includes a breakfast bar, solid‑surface counters, washer and dryer
