Albany Income-Producing Brownstone
43 Myrtle Avenue, Albany, NY 12202
New
MULTI_FAMILY - Albany, NY
Property size:
2,376 SFLot size:
0.06 AcresPrice / SF:
$155/SF- Added:
- May 29, 2026
- Days on Market:
- 2
- Last Refresh:
- May 30 at 2:06 pm
Property Features for 43 Myrtle Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 3
- Parking
- 2
- Basement
- Apartment
- Standard status
- Active
- APN
- 010100 76.49-1-87
- Size
- 2,376 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5417
Utilities
- Heating system
- Baseboard
- Water source
- Public
Building Details
- Year built
- 1880
- Number of units
- 2
Listing agent Stela Koeva License #10401345420 (518) 694-1027
Listing office Real Broker NY LLC 401 Park Avenue S 10th Fl, New York, NY (855) 450-0442
Listing date May 29, 2026
MLS# 202618381
Listing URL
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High Income Potential: Generates approximately $55,000 annually from mid‑term rentals.
- Turnkey Investment: Fully furnished and meticulously maintained for ease of management.
- Rare Two‑Car Parking Lot: A highly valuable and unique feature in the historic Mansion Neighborhood.
- Desirable Location: Situated in Albany's highly sought‑after historic Mansion Neighborhood.
- Income‑Producing Duplex: Features a spacious 3‑bedroom main residence and a charming 1‑bedroom garden apartment.
- Tasteful Updates and Renovations: Clean, modern finishes enhance the property's historic charm.
Overview
This income-producing brownstone is located in Albany's historic Mansion Neighborhood. The property is a duplex featuring a main residence with 3 bedrooms and 2 full bathrooms, and a garden apartment with 1 bedroom and 1 bathroom. Tasteful updates and renovations have been made, adding modern finishes throughout. The property is fully furnished and meticulously maintained. Currently operated as mid-term rentals catering to professionals, the property generates an annual rental income of approximately $55,000. Situated on a 0.06-acre double lot, the property includes a two-car parking lot. The main floor is currently vacant for showings, and furniture will be left for the new owner at additional cost. The property size is 2,376 square feet.
Local 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 | $41.3k | $17.40 |
| − Vacancy | −$2.7k | −$1.13 |
| EGI | $38.7k | $16.27 |
| − OpEx | −$11.6k | −$4.88 |
| NOI | $27.1k | $11.39 |
2,376 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$386.6K
$338.2K – $451.0K
NOI $27,059 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$346.7K
$303.4K – $404.5K
NOI $24,270 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$626.9K
$548.5K – $731.3K
NOI $43,880 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.759978
- Latitude
- 42.645555
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Meticulously maintained duplex in Albany's historic Mansion Neighborhood.
Where is this duplex located?
The property is located at 43 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: High Income Potential: Generates approximately $55,000 annually from mid‑term rentals.; Turnkey Investment: Fully furnished and meticulously maintained for ease of management.; Rare Two‑Car Parking Lot: A highly valuable and unique feature in the historic Mansion Neighborhood.
