Albany Duplexes For
For Sale
$509,000
431-433 West Lawrence Street, Albany, NY 12208
Two duplexes available in Albany, each with two-bedroom units.
Property Size3,600 SF
Price / SF$141.39
Days on Market111
Property Features for 431-433 West Lawrence Street
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
4
Property subtype
Multi Family / Duplex
Taxes and HOA fees
Annual Taxes
$16,000
Amenities
Wall Unit(s), Yes
Electric, Yes
Full, Slab
True
Other
Block, Brick
Building Details
Year Built
1973
Listing Agency:
Realty One Group Key
(518) 649-7505
Listed By:
Leah A Witko · License #10401256547
(518) 649-7505
Source:
Compass
Added: May 12
Changed: Aug 26
Last Checked: Aug 29 at 4:29PM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
Two duplexes are available for sale, situated next to each other. Each unit features two bedrooms. The properties include a backyard. Laundry facilities are available on-site, operating on a coin-operated system. Tenants are currently on month-to-month leases. The properties are located on a street in Albany characterized by predominantly single-family homes. Landlord pays for hot water.
Key Highlights
- Two duplexes being sold together
- Each unit has 2 bedrooms
- Located on a desirable street in Albany primarily consisting of single‑family homes
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
$40,998
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
8.05%
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%
$819,960
$820.0K
Cap Rate 7%
$585,686
$585.7K
Cap Rate 9%
$455,533
$455.5K
Market Conditions
NOI Build-Up for 3,600 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
$62.6K $17.40/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$58.6K $16.27/SF
− OpEx
−$17.6K −$4.88/SF
NOI
$41.0K $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 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%
$819,960
Cap Rate 7%
$585,686
Cap Rate 9%
$455,533
Alternative Uses
Best Use
Multifamily LT 5
$585.7K
$512.5K – $683.3K
NOI $40,998 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$525.3K
$459.7K – $612.9K
NOI $36,773 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$949.8K
$831.1K – $1.11M
NOI $66,485 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
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 duplexes available in Albany, each with two-bedroom units.
Where is this duplex located?
The property is located at 431-433 West Lawrence Street Albany, NY.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Two duplexes being sold together; Each unit has **2 bedrooms**; Located on a desirable street in Albany primarily consisting of single‑family homes
