Historic Duplex with Detached
For Sale
$449,000
396 Hamilton St, Albany, NY 12210
Two-residence configuration includes a three-bedroom main home and a garden-level one-bedroom apartment.
Property Size2,700 SF
Price / SF$166.30
Days on Market19
Property Features for 396 Hamilton St
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
1
Property subtype
Residential Income
Building Details
Year Built
1871
Buildings
2
Construction
brownstone
Tenancy
Multi
Listing Agency:
Empire Real Estate Firm LLC
(518) 331-7839
Listed By:
Beau Piorkowski
(518) 331-7839
Source:
Exprealty
Added: Jul 15
Changed: Jul 31
Last Checked: Jul 31 at 1:05PM
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 Empire Real Estate Firm LLC
Investment Insights
Based on property information with market context.
This 2,700-square-foot duplex at 396 Hamilton St in Albany’s Center Square neighborhood is a 1871 brownstone with two distinct residential spaces. The main residence offers three bedrooms and one and a half baths, while the garden-level apartment includes one bedroom and one full bath. The layout supports rental income, guest accommodations, or multigenerational living.
Historic interior details include marble fireplaces, curved walls, stained glass accents, and hardwood floors. A detached one-car garage provides secure, year-round off-street parking, adding a practical improvement uncommon among nearby brownstones.
Historic interior details include marble fireplaces, curved walls, stained glass accents, and hardwood floors. A detached one-car garage provides secure, year-round off-street parking, adding a practical improvement uncommon among nearby brownstones.
Key Highlights
- 1871 brownstone in Albany’s Center Square neighborhood
- 2,700‑square‑foot duplex with two residential spaces
- Main residence includes 3 bedrooms and 1.5 baths
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.0k | $17.40 |
| − Vacancy | −$3.1k | −$1.13 |
| EGI | $43.9k | $16.27 |
| − OpEx | −$13.2k | −$4.88 |
| NOI | $30.7k | $11.39 |
2,700 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$439.3K
$384.4K – $512.5K
NOI $30,748 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$394.0K
$344.8K – $459.7K
NOI $27,580 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$712.3K
$623.3K – $831.1K
NOI $49,864 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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-residence configuration includes a three-bedroom main home and a garden-level one-bedroom apartment.
Where is this duplex located?
The property is located at 396 Hamilton St Albany, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1871 brownstone in Albany’s Center Square neighborhood; 2,700‑square‑foot duplex with two residential spaces; Main residence includes 3 bedrooms and 1.5 baths
