Brick Duplex with Original
For Sale
$375,000
Pending
469 Madison Ave, Albany, NY 12210
Two rented apartments combine classic detailing with updated kitchen and laundry features.
Property Size2,592 SF
Days on Market95
Property Features for 469 Madison Ave
General Information
Standard status
Pending
Size
2,592 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
hardwood floors
original woodwork
tall ceilings
original built-ins
decorative fireplace
pocket doors
stackable washer/dryer in each unit
Corian counters
ceramic tile backsplashes
bonus office alcove
bay windows
Building Details
Year Built
1930
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Jul 15
Changed: Oct 16
Last Checked: Oct 16 at 9:14AM
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 Coldwell Banker Prime Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,592-square-foot duplex, built in 1930, contains two large apartment flats within a durable brick building. Interior details include hardwood flooring, original woodwork, built-in cabinetry, tall ceilings, pocket doors, bay windows, and a decorative fireplace. Each apartment has a stackable washer and dryer, Corian countertops, and ceramic tile backsplashes. A bonus office alcove adds flexibility within the existing layout.
The property is located in Albany’s Center Square neighborhood, near Washington Park. Both apartments are currently rented, providing an operating two-unit configuration with established occupancy. The building’s combination of period features and practical apartment improvements supports continued residential use in a walkable urban setting.
The property is located in Albany’s Center Square neighborhood, near Washington Park. Both apartments are currently rented, providing an operating two-unit configuration with established occupancy. The building’s combination of period features and practical apartment improvements supports continued residential use in a walkable urban setting.
Key Highlights
- 2,592‑square‑foot duplex built in 1930
- Two apartment flats; both units are rented
- Brick exterior with hardwood floors, bay windows, pocket doors, and original built‑ins
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,518
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,360
$590.4K
Cap Rate 7%
$421,686
$421.7K
Cap Rate 9%
$327,978
$328.0K
Market Conditions
NOI Build-Up for 2,592 SF
Gross rent
$45.1K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$42.2K $16.27/SF
− OpEx
−$12.7K −$4.88/SF
NOI
$29.5K $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%
$590,360
Cap Rate 7%
$421,686
Cap Rate 9%
$327,978
Alternative Uses
Best Use
Multifamily LT 5
$421.7K
$369.0K – $492.0K
NOI $29,518 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$378.2K
$331.0K – $441.3K
NOI $26,477 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$683.8K
$598.4K – $797.8K
NOI $47,869 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,899
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two rented apartments combine classic detailing with updated kitchen and laundry features.
Where is this duplex located?
The property is located at 469 Madison Ave Albany, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,592‑square‑foot duplex built in 1930; Two apartment flats; both units are rented; Brick exterior with hardwood floors, bay windows, pocket doors, and original built‑ins
