Building Details

Year Built 1930

Construction brick

Listing Agency: DiBlasi Real Estate

Listed By: John S DiBlasi · License #10491211230 Show Phone

Source: Capmarkrealty

Added: Jul 15 Changed: Oct 13 Last Checked: Oct 16 at 6:12AM

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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

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Investment Insights

Based on property information with market context.

This two-family duplex contains 2,592 square feet in a brick building constructed in 1930. The property includes large apartment layouts with hardwood flooring, original woodwork, built-in cabinetry, tall ceilings, pocket doors, bay windows, and a decorative fireplace. Each unit has a stackable washer/dryer, Corian countertops, and ceramic tile backsplash, while an additional office alcove provides flexible interior space.

The property is located at 469 Madison Avenue in Albany’s Center Square neighborhood, near Washington Park. Both apartments are rented, and the property is zoned Multi Residence.

Key Highlights

• Two‑family duplex with 2,592 SF of building area
• Brick construction dating to 1930
• Both apartments are rented

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

Is this asking price fair?

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 (±1% cap)

NOI $29,518 @ 7.0% cap · market cap 7.87%

Second Best

Apartment 5plus

$378.2K

$331.0K – $441.3K (±1% cap)

NOI $26,477 @ 7.0% cap · market cap 7.06%

Theoretical Best

Office A

$683.8K

$598.4K – $797.8K (±1% cap)

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

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Dental Office Storage Facility Auto Parts Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

79

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two rented apartments offer period character, updated kitchen finishes, and in-unit laundry within a Multi Residence-zoned property.

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: Two‑family duplex with 2,592 SF of building area; Brick construction dating to 1930; Both apartments are rented