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New
For Sale
$245,000
478 1st Street, Albany, NY 12206
MultiFamily, Albany, NY
Property Size1,672 SF
Lot Size0.06 Acres
Price / SF$146.53
Days on Market6
Property Features for 478 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 5
Basement
Unfinished, Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Clinton Avenue, to Quail Street to 1st St. Turn onto 1st Street and continue to 478 1st Street or use GPS for directions.
Standard status
Active
APN
010100 65.55-1-3 01
Size
1,672 SF
Lot size
0.06 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
3459
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Donna Clanton · License #10401202416
(518) 986-2305
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 27 at 2:06AM
MLS# 202628883
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-unit duplex at 478 1st Street in Albany contains 1,672 square feet on a 0.06-acre lot. The building dates to 1910 and has vinyl siding, natural gas heat, public water, and public sewer. The room list identifies six bedrooms and two bathrooms.
Both units were renovated within the last two years and are occupied by long-term tenants.
Both units were renovated within the last two years and are occupied by long-term tenants.
Key Highlights
- Two‑unit duplex with both residences occupied by long‑term tenants
- Both units renovated within the last two years
- 1,672 square feet of building area on a 0.06‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,041
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,820
$380.8K
Cap Rate 7%
$272,014
$272.0K
Cap Rate 9%
$211,567
$211.6K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$29.1K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.2K $16.27/SF
− OpEx
−$8.2K −$4.88/SF
NOI
$19.0K $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%
$380,820
Cap Rate 7%
$272,014
Cap Rate 9%
$211,567
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.4K
NOI $19,041 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$244.0K
$213.5K – $284.7K
NOI $17,079 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$441.1K
$386.0K – $514.6K
NOI $30,878 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,447
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
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 - Both residences are occupied by long-term tenants, with renovations completed within the past two years.
Where is this duplex located?
The property is located at 478 1st Street Albany, NY.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences occupied by long‑term tenants; Both units renovated within the last two years; 1,672 square feet of building area on a 0.06‑acre lot
