Two-Family Residential Income
469 Madison Avenue Albany, NY 12210
469 Madison Avenue, Albany, NY, 12210
$375,000
For Sale
$375,000
Well-maintained two-family brick building with features including hardwood floors, built-ins, and in-unit washer/dryers.
Property Size2,592 SF
Price / SF$144.68
Days on Market12
Property Features for 469 Madison Avenue
General Information
- Standard status
- Active
- Size
- 2,592 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1930
Listing agency
DiBlasi Real Estate
Listed by
John S DiBlasi
(518) 639-4663
Source
Signatureonerealtygroup
Added: Jul 11 Updated: Jul 21 at 10:19PM Checked: Jul 21 at 10:19PM
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 DiBlasi Real Estate
Investment Insights
Based on property information with market context.
This well-maintained two-family brick property pairs timeless architectural character with practical, livable interiors. The building includes hardwood floors, original woodwork, tall ceilings, decorative fireplaces, and original built-ins, with additional details such as pocket doors, bay windows, and a bonus office alcove. Each unit also features stackable washer/dryers, along with Corian counters and ceramic tile backsplashes.
The property is located in Albany’s Center Square neighborhood, just steps from Washington Park. While the photos show vacant units, the remarks state that both apartments are rented.
The duplex configuration provides two separate residential units within a single building, offering a straightforward income-producing setup for buyers seeking a maintained, character-rich property with in-unit laundry.
The property is located in Albany’s Center Square neighborhood, just steps from Washington Park. While the photos show vacant units, the remarks state that both apartments are rented.
The duplex configuration provides two separate residential units within a single building, offering a straightforward income-producing setup for buyers seeking a maintained, character-rich property with in-unit laundry.
Key Highlights
- Well‑maintained two‑family brick building built in 1930
- Features include hardwood floors, rich original woodwork, tall ceilings, decorative fireplace, and pocket doors
- Original built‑ins and bay windows plus a decorative fireplace
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.1k | $17.40 |
| − Vacancy | −$2.9k | −$1.13 |
| EGI | $42.2k | $16.27 |
| − OpEx | −$12.7k | −$4.88 |
| NOI | $29.5k | $11.39 |
2,592 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family brick building with features including hardwood floors, built-ins, and in-unit washer/dryers.
Where is this duplex located?
The property is located at 469 Madison Avenue 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: Well‑maintained two‑family brick building built in 1930; Features include hardwood floors, rich original woodwork, tall ceilings, decorative fireplace, and pocket doors; Original built‑ins and bay windows plus a decorative fireplace
