Duplex with Detached
For Sale
$299,000
4 Sparkill Avenue, Albany, NY 12209
Two residential units offer updated kitchens, refinished hardwood floors, and separate living and dining areas.
Property Size2,484 SF
Price / SF$120.37
Days on Market12
Property Features for 4 Sparkill Avenue
General Information
Standard status
Active
Size
2,484 SF
Property subtype
Multi-family
Building Details
Year Built
1925
Listing Agency:
Gabler Realty LLC
Listed By:
Christina A Center
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Sep 13
Changed: Sep 23
Last Checked: Sep 24 at 10:20AM
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 Gabler Realty LLC
Investment Insights
Based on property information with market context.
Built in 1925, this 2,484-square-foot duplex includes a two-bedroom, one-bath first-floor apartment and a three-bedroom, one-bath second-floor apartment. Both units include living and dining rooms, refinished hardwood floors, updated kitchens with newer cabinetry and appliances, and pantry space. The property also features a front sitting porch, fenced yard, oversized driveway, and detached two-car garage. Electrical service and hot water heaters have been updated, while a newer boiler serves one unit.
Located at 4 Sparkill Avenue in Albany, the property is near a theater, library, shopping, dining, and neighborhood amenities, with bus-line access. The sale includes an additional vacant lot, expanding the outdoor area. Current rents are in place, and the property is offered as is.
Located at 4 Sparkill Avenue in Albany, the property is near a theater, library, shopping, dining, and neighborhood amenities, with bus-line access. The sale includes an additional vacant lot, expanding the outdoor area. Current rents are in place, and the property is offered as is.
Key Highlights
- 2,484‑square‑foot duplex with two residential units
- First‑floor 2‑bedroom, 1‑bath unit and second‑floor 3‑bedroom, 1‑bath unit
- Updated kitchens with newer cabinets, appliances, and pantry space
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
$25,374
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
8.49%
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%
$507,480
$507.5K
Cap Rate 7%
$362,486
$362.5K
Cap Rate 9%
$281,933
$281.9K
Market Conditions
NOI Build-Up for 2,484 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
$49.2K $19.80/SF
− Vacancy
−$3.0K −$1.23/SF
EGI
$46.1K $18.57/SF
− OpEx
−$20.8K −$8.36/SF
NOI
$25.4K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$507,480
Cap Rate 7%
$362,486
Cap Rate 9%
$281,933
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.5K
NOI $28,289 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$655.4K
$573.4K – $764.6K
NOI $45,875 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer updated kitchens, refinished hardwood floors, and separate living and dining areas.
Where is this duplex located?
The property is located at 4 Sparkill Avenue Albany, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,484‑square‑foot duplex with two residential units; First‑floor 2‑bedroom, 1‑bath unit and second‑floor 3‑bedroom, 1‑bath unit; Updated kitchens with newer cabinets, appliances, and pantry space
