Two-Unit Bungalow with
For Sale
$210,000
Pending
4 Homestead Avenue, Colonie, NY 12304
Legal two-family property with separate electric meters, individual decks, and mini-split heating and cooling.
Property Size1,020 SF
Days on Market49
Property Features for 4 Homestead Avenue
General Information
Standard status
Pending
Size
1,020 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
Multi Residence
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,925
Amenities
deck
mini-splits
Building Details
Year Built
1930
Listing Agency:
Keyology Realty
Listed By:
Alicia C Everett · License #10491209739
(518) 813-3540
Source:
Capmarkrealty
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 28 at 5:02AM
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 Keyology Realty
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Investment Insights
Based on property information with market context.
This legal two-family bungalow contains 1,020 square feet across two separate apartments. The first-floor unit has 2 bedrooms and 1 bath, while the upper unit provides 1 bedroom and 1 bath. Each apartment includes its own deck, separate electric meter, and mini-split heating and air conditioning. A detached one-car garage provides additional parking and storage.
Built in 1930 and zoned Multi Residence, the property is arranged for two-family occupancy. Its Colonie setting places the home close to shopping, dining, services, and other everyday conveniences.
Built in 1930 and zoned Multi Residence, the property is arranged for two-family occupancy. Its Colonie setting places the home close to shopping, dining, services, and other everyday conveniences.
Key Highlights
- Two‑family bungalow with 1,020 square feet
- First‑floor apartment includes 2 bedrooms and 1 bath
- Second‑floor apartment includes 1 bedroom and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,616
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,320
$232.3K
Cap Rate 7%
$165,943
$165.9K
Cap Rate 9%
$129,067
$129.1K
Market Conditions
NOI Build-Up for 1,020 SF
Gross rent
$17.7K $17.40/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$16.6K $16.27/SF
− OpEx
−$5.0K −$4.88/SF
NOI
$11.6K $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%
$232,320
Cap Rate 7%
$165,943
Cap Rate 9%
$129,067
Alternative Uses
Best Use
Multifamily LT 5
$165.9K
$145.2K – $193.6K
NOI $11,616 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$148.8K
$130.2K – $173.7K
NOI $10,419 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$269.1K
$235.5K – $314.0K
NOI $18,837 @ 7.0% cap · market cap 8.97%
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
207
Businesses Nearby
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Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
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 - Legal two-family property with separate electric meters, individual decks, and mini-split heating and cooling.
Where is this duplex located?
The property is located at 4 Homestead Avenue Colonie, NY.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑family bungalow with 1,020 square feet; First‑floor apartment includes 2 bedrooms and 1 bath; Second‑floor apartment includes 1 bedroom and 1 bath
