Occupied Duplex with
For Sale
$349,900
Pending
443 Myrtle Avenue, Albany, NY 12208
MultiFamily, Albany, NY
Property Size2,040 SF
Lot Size0.07 Acres
Days on Market93
Property Features for 443 Myrtle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 1, Laundry Room
Parking
4
Basement
Unfinished, Full
Lot features
Level, Cleared
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Madison to south lake to myrtle Ave
Standard status
Pending
APN
76.22-2-56
Size
2,040 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
5573
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
separate laundry rooms
attic storage
Building Details
Year built
1928
Number of units
2
Flooring type
Carpet, Vinyl, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Re Max Solutions · RE/MAX International
(518) 720-3400
Listed By:
Jonathan Lanahan · License #10401298349
(315) 749-8596
Added: May 21
Changed: Aug 21
Last Checked: Aug 21 at 3:06AM
MLS# 202617805
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 1928 duplex contains two apartments within 2,040 square feet on a 0.07-acre parcel. Both units are occupied, and the property includes off-street parking, individual basement laundry areas, and a walk-up attic that provides additional storage. The room mix includes six bedrooms, two bathrooms, and a range of carpet, vinyl, and tile flooring. Vinyl siding, an asphalt roof, hot-water heating, and natural gas service complete the primary building details.
Located at 443 Myrtle Avenue in Albany, the property is described as being within walking distance of Albany Med, shopping, and other nearby amenities. Public water and public sewer serve the property, while cable is available. The configuration supports both owner-occupant and investment use, subject to the buyer’s intended operation.
Located at 443 Myrtle Avenue in Albany, the property is described as being within walking distance of Albany Med, shopping, and other nearby amenities. Public water and public sewer serve the property, while cable is available. The configuration supports both owner-occupant and investment use, subject to the buyer’s intended operation.
Key Highlights
- Two occupied apartments with six bedrooms and two bathrooms
- 2,040‑square‑foot duplex on a 0.07‑acre parcel
- Off‑street parking and separate laundry rooms in the basement
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
$23,232
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
6.64%
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%
$464,640
$464.6K
Cap Rate 7%
$331,886
$331.9K
Cap Rate 9%
$258,133
$258.1K
Market Conditions
NOI Build-Up for 2,040 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
$35.5K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$33.2K $16.27/SF
− OpEx
−$10.0K −$4.88/SF
NOI
$23.2K $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%
$464,640
Cap Rate 7%
$331,886
Cap Rate 9%
$258,133
Alternative Uses
Best Use
Multifamily LT 5
$331.9K
$290.4K – $387.2K
NOI $23,232 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$297.7K
$260.5K – $347.3K
NOI $20,838 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$538.2K
$470.9K – $627.9K
NOI $37,675 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,313
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer separate basement laundry rooms and a walk-up attic for additional storage.
Where is this duplex located?
The property is located at 443 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two occupied apartments with six bedrooms and two bathrooms; 2,040‑square‑foot duplex on a 0.07‑acre parcel; Off‑street parking and separate laundry rooms in the basement
