Albany Brownstone with Garden
For Sale
$365,000
Pending
44 Clinton Avenue, Albany, NY 12210
MULTI_FAMILY - Other - Albany, NY
Property Size2,834 SF
Lot Size0.03 Acres
Days on Market246
Property Features for 44 Clinton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Patio and Porch features
Deck, Porch
Interior features
High Speed Internet, Walk-In Closet(s), Ceramic Tile Bath, Crown Molding
Basement
Apartment, Walk-Out Access, Exterior Entry
Lot features
Level, Views
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
South Pearl Street to Clinton Ave
Standard status
Pending
APN
010100 76.26-1-16
Size
2,834 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3750
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Hot Water(Heating), Electric (Heating)
Water source
Public
Building Details
Year built
1881
Number of units
2
Flooring type
Hardwood, Laminate, Tile - Ceramic
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 935-2555
Listed By:
Edwin R Hersh · License #30HE0941344
(518) 496-6162
Added: Dec 17, 2025
Changed: Jul 24
Last Checked: Aug 20 at 8:06AM
MLS# 202530923
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.
Investment Insights
Based on property information with market context.
This classic Albany Brownstone features a garden/basement apartment and is situated near the Palace Theater and the downtown Albany entertainment district, offering convenient access to shopping, dining, entertainment, government offices, and major highways. It presents an excellent opportunity for investors or owner-occupants and has been successfully used as an Airbnb with five-star reviews. The owner's unit spans the top three floors and includes a sitting room, foyer, and living room on the first floor, all with hardwood flooring. The second floor features one bedroom, a kitchen with a dining area, all with hardwood, a full tile bath with a walk-in shower, and a laundry closet with a stackable washer and dryer. The third floor offers two bedrooms with laminate flooring and a full bath with a clawfoot tub. The garden apartment includes a living room, a kitchen area, one bedroom, and a full tile bath. The property includes fireplaces that the seller considers decorative only. The owner's unit has been successfully used as an Airbnb with five-star reviews. The property offers views of the Albany skyline from the rear. The lot size is 0.03 acres and the property size is 2834 square feet.
Key Highlights
- 1881 classic Albany brick brownstone with garden/basement apartment
- Airbnb history with five‑star reviews for the owners unit and overall property use
- Owners unit on top three floors: sitting room, foyer, and living room with hardwood flooring
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
$32,274
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
8.84%
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%
$645,480
$645.5K
Cap Rate 7%
$461,057
$461.1K
Cap Rate 9%
$358,600
$358.6K
Market Conditions
NOI Build-Up for 2,834 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
$49.3K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$46.1K $16.27/SF
− OpEx
−$13.8K −$4.88/SF
NOI
$32.3K $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%
$645,480
Cap Rate 7%
$461,057
Cap Rate 9%
$358,600
Alternative Uses
Best Use
Multifamily LT 5
$461.1K
$403.4K – $537.9K
NOI $32,274 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$413.6K
$361.9K – $482.5K
NOI $28,949 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$747.7K
$654.2K – $872.3K
NOI $52,338 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,860
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 - Classic Albany Brownstone near downtown, ideal for investors or owners.
Where is this duplex located?
The property is located at 44 Clinton Avenue Albany, NY.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1881 classic Albany brick brownstone with garden/basement apartment; Airbnb history with five‑star reviews for the owners unit and overall property use; Owners unit on top three floors: sitting room, foyer, and living room with hardwood flooring
