Two-Unit Duplex with
For Sale
$299,900
473 Washington Avenue, Albany, NY 12206
Both apartments have two bedrooms and one full bathroom.
Property Size1,786 SF
Price / SF$167.92
Days on Market61
Property Features for 473 Washington Avenue
General Information
Standard status
Active
Size
1,786 SF
Total Parking Spaces
14
Property subtype
Two Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,152
Building Details
Building Size
1,786 SF
Year Built
1900
Listing Agency:
CRYSTIN & CO REALTY LLC
Listed By:
Crystin Drowlette
(518) 986-5484
Source:
Crystinandcorealty
Added: Aug 27
Changed: Oct 25
Last Checked: Oct 26 at 3:51AM
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 CRYSTIN & CO REALTY LLC
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Investment Insights
Based on property information with market context.
This 1,786-square-foot duplex contains two apartments, each arranged with two bedrooms and one full bathroom. The property was built in 1900, and a 10-space parking lot serves the building. The upper apartment has recently been turned over; the previous occupants of the two units stayed for approximately 3 and 9 years, respectively.
The property is near the downtown campus of the University at Albany, with shopping, dining, entertainment, and major roadways also described as nearby. Its two-unit configuration and on-site parking are the primary physical features.
The property is near the downtown campus of the University at Albany, with shopping, dining, entertainment, and major roadways also described as nearby. Its two-unit configuration and on-site parking are the primary physical features.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- 1,786 square feet
- 10‑space parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,340
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,800
$406.8K
Cap Rate 7%
$290,571
$290.6K
Cap Rate 9%
$226,000
$226.0K
Market Conditions
NOI Build-Up for 1,786 SF
Gross rent
$31.1K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$29.1K $16.27/SF
− OpEx
−$8.7K −$4.88/SF
NOI
$20.3K $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%
$406,800
Cap Rate 7%
$290,571
Cap Rate 9%
$226,000
Alternative Uses
Best Use
Multifamily LT 5
$290.6K
$254.3K – $339.0K
NOI $20,340 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$260.6K
$228.1K – $304.1K
NOI $18,244 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$471.2K
$412.3K – $549.7K
NOI $32,984 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have two bedrooms and one full bathroom.
Where is this duplex located?
The property is located at 473 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; 1,786 square feet; 10‑space parking lot
