Updated Three-Family
For Sale
$409,900
472 Hudson Avenue, Albany, NY 12203
Three-family property with 10 bedrooms and recent improvements in Albany near area colleges.
Property Size3,197 SF
Price / SF$128.21
Days on Market51
Property Features for 472 Hudson Avenue
General Information
Standard status
Active
Size
3,197 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$62,400
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,055
Building Details
Year Built
1920
Listing Agency:
RE/MAX Solutions
(315) 749-8596
Listed By:
Jonathan Lanahan · License #10401298349
(315) 749-8596
Source:
Capmarkrealty
Added: Jul 12
Changed: Aug 29
Last Checked: Aug 30 at 1:37PM
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 RE/MAX Solutions
Investment Insights
Based on property information with market context.
Built in 1920, this three-family property contains 10 bedrooms within approximately 3,197 square feet. The building has received updates throughout, providing an improved configuration for residential occupancy across its three-family layout.
The property is located at 472 Hudson Avenue in Albany, New York, within the city’s student-oriented area and minutes from area colleges. Its bedroom count and proximity to higher-education campuses support residential use aligned with the surrounding neighborhood context.
The property is located at 472 Hudson Avenue in Albany, New York, within the city’s student-oriented area and minutes from area colleges. Its bedroom count and proximity to higher-education campuses support residential use aligned with the surrounding neighborhood context.
Key Highlights
- Three‑family triplex with 10 bedrooms
- Approximately 3,197 square feet
- Updates completed throughout the property
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
$36,408
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
8.88%
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%
$728,160
$728.2K
Cap Rate 7%
$520,114
$520.1K
Cap Rate 9%
$404,533
$404.5K
Market Conditions
NOI Build-Up for 3,197 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
$55.6K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$52.0K $16.27/SF
− OpEx
−$15.6K −$4.88/SF
NOI
$36.4K $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%
$728,160
Cap Rate 7%
$520,114
Cap Rate 9%
$404,533
Alternative Uses
Best Use
Multifamily LT 5
$520.1K
$455.1K – $606.8K
NOI $36,408 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$466.5K
$408.2K – $544.3K
NOI $32,657 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$843.5K
$738.0K – $984.0K
NOI $59,042 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with 10 bedrooms and recent improvements in Albany near area colleges.
Where is this triplex located?
The property is located at 472 Hudson Avenue Albany, NY.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Three‑family triplex with 10 bedrooms; Approximately 3,197 square feet; Updates completed throughout the property
