Updated Two-Family
For Sale
$290,000
446 2nd Avenue, Albany, NY 12209
Occupied duplex with a rear porch, sprinkler system, and refreshed flooring near shopping, dining, fitness, and highway access.
Property Size1,697 SF
Price / SF$170.89
Days on Market86
Property Features for 446 2nd Avenue
General Information
Standard status
Active
Size
1,697 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Sprinkler System
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,641
Building Details
Year Built
1940
Listing Agency:
Redway Realty LLC
Listed By:
Anthony Redway · License #10491212718
(917) 915-0250
Source:
Capmarkrealty
Added: Jul 24
Changed: Oct 12
Last Checked: Oct 16 at 6:13AM
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 Redway Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1940, this duplex is configured as a two-family residential property and measures 1,697 square feet. Recent work includes a new rear porch, an installed sprinkler system, and updated flooring. The property is currently occupied by tenants.
Located at 446 2nd Avenue in Albany, the home is near highway access, shopping centers, gyms, and restaurants. These surrounding amenities provide convenient access to everyday services and dining options.
Located at 446 2nd Avenue in Albany, the home is near highway access, shopping centers, gyms, and restaurants. These surrounding amenities provide convenient access to everyday services and dining options.
Key Highlights
- Two‑family duplex measuring 1,697 square feet
- Built in 1940
- New rear porch, sprinkler system, and updated flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,326
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,520
$386.5K
Cap Rate 7%
$276,086
$276.1K
Cap Rate 9%
$214,733
$214.7K
Market Conditions
NOI Build-Up for 1,697 SF
Gross rent
$29.5K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.6K $16.27/SF
− OpEx
−$8.3K −$4.88/SF
NOI
$19.3K $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 Rate 5%
$386,520
Cap Rate 7%
$276,086
Cap Rate 9%
$214,733
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.1K
NOI $19,326 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$247.6K
$216.7K – $288.9K
NOI $17,335 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$447.7K
$391.8K – $522.3K
NOI $31,340 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
748
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with a rear porch, sprinkler system, and refreshed flooring near shopping, dining, fitness, and highway access.
Where is this duplex located?
The property is located at 446 2nd Avenue Albany, NY.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑family duplex measuring 1,697 square feet; Built in 1940; New rear porch, sprinkler system, and updated flooring
