Two-Unit Duplex with
For Sale
$239,900
466 Ontario Street, Albany, NY 12208
MultiFamily, Albany, NY
Property Size1,200 SF
Lot Size0.09 Acres
Price / SF$199.92
Days on Market104
Property Features for 466 Ontario Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
Parking
3
Parking features
Driveway, Garage
Basement
Exterior Entry, Unfinished
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
From New Scotland Ave, turn on to Ontario Street. House is on the right.
Standard status
Active
APN
010100 75.28-2-49
Size
1,200 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
5643
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1872
Number of units
2
Building materials
Aluminum Siding
Architectural style
Other
Listing Agency:
Realty One Group Key
(518) 630-5360
Listed By:
Tina Berlin · License #10401348077
(518) 688-6101
Added: Jun 24
Changed: Oct 5
Last Checked: Oct 5 at 8:06AM
MLS# 202620418
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.
Located at 466 Ontario Street in Albany, this 1872 duplex contains 1,200 square feet on a 0.09-acre lot. The two-unit residential property has aluminum siding, natural-gas hot-water heating, hardwood flooring, separate utilities, and a newer boiler. The room schedule includes three bedrooms and two bathrooms. Parking is provided through a driveway and garage, while the property also includes yard space.
Public water and public sewer serve the property. The Pine Hills location places the duplex near schools, parks, shopping, restaurants, hospitals, and major highways. Its Albany setting and two-unit configuration support either owner occupancy or use as a residential income property, as described in the property information.
Public water and public sewer serve the property. The Pine Hills location places the duplex near schools, parks, shopping, restaurants, hospitals, and major highways. Its Albany setting and two-unit configuration support either owner occupancy or use as a residential income property, as described in the property information.
Key Highlights
- Two‑unit duplex with 1,200 square feet of property size
- Built in 1872 on a 0.09‑acre lot
- Separate utilities, hardwood floors, and a newer boiler
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
$13,666
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
5.70%
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%
$273,320
$273.3K
Cap Rate 7%
$195,229
$195.2K
Cap Rate 9%
$151,844
$151.8K
Market Conditions
NOI Build-Up for 1,200 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
$20.9K $17.40/SF
− Vacancy
−$1.4K −$1.13/SF
EGI
$19.5K $16.27/SF
− OpEx
−$5.9K −$4.88/SF
NOI
$13.7K $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%
$273,320
Cap Rate 7%
$195,229
Cap Rate 9%
$151,844
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.8K
NOI $13,666 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$175.1K
$153.2K – $204.3K
NOI $12,258 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$316.6K
$277.0K – $369.4K
NOI $22,162 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
939
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential units feature separate utilities, hardwood floors, and a newer boiler, with driveway and garage parking.
Where is this duplex located?
The property is located at 466 Ontario Street Albany, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,200 square feet of property size; Built in 1872 on a 0.09‑acre lot; Separate utilities, hardwood floors, and a newer boiler
