Brick Triplex with Detached
For Sale
$599,000
50 Glynn Street, Albany, NY 12203
Three-family brick property with a fenced yard, detached garage, and shared laundry.
Property Size2,793 SF
Price / SF$214.46
Days on Market145
Property Features for 50 Glynn Street
General Information
Standard status
Active
Size
2,793 SF
Total Parking Spaces
6
Property subtype
Multi Family / Triplex
Zoning
Single Residence
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 5BR/3BA, 2 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,310
Amenities
fenced-in yard
shared laundry
Asphalt
Hot Water, Yes
Full
Brick
Deck, Patio
Building Details
Year Built
1963
Buildings
1
Construction
brick
Listing Agency:
Realty One Group Key
(518) 265-9398
Listed By:
Jessica Bedard · License #40BE1067784
(518) 265-9398
Source:
Compass
Added: Apr 9
Changed: Aug 31
Last Checked: Aug 31 at 1:36AM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This brick triplex, built in 1963, includes a substantial first-floor residence with 5 bedrooms, 3 baths, a living room, family room, and formal dining area. The lower level contains two one-bedroom apartments with shared laundry, creating a flexible three-unit configuration. Centralized heat serves the property, while each unit has separate electric service.
Exterior features include a fenced yard, deck, patio, and detached two-car garage. The property sits on a dead-end street near highways and shopping, with Single Residence zoning. Its layout accommodates multiple household arrangements within one building, including an owner-occupied residence with additional apartment units.
Exterior features include a fenced yard, deck, patio, and detached two-car garage. The property sits on a dead-end street near highways and shopping, with Single Residence zoning. Its layout accommodates multiple household arrangements within one building, including an owner-occupied residence with additional apartment units.
Key Highlights
- Three‑family brick property built in 1963
- First‑floor residence with 5 bedrooms and 3 baths
- Two one‑bedroom apartments on the lower level
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
$31,808
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
5.31%
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%
$636,160
$636.2K
Cap Rate 7%
$454,400
$454.4K
Cap Rate 9%
$353,422
$353.4K
Market Conditions
NOI Build-Up for 2,793 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
$48.6K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.4K $16.27/SF
− OpEx
−$13.6K −$4.88/SF
NOI
$31.8K $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%
$636,160
Cap Rate 7%
$454,400
Cap Rate 9%
$353,422
Alternative Uses
Best Use
Multifamily LT 5
$454.4K
$397.6K – $530.1K
NOI $31,808 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$407.6K
$356.6K – $475.5K
NOI $28,530 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$736.9K
$644.8K – $859.7K
NOI $51,581 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
467
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 brick property with a fenced yard, detached garage, and shared laundry.
Where is this triplex located?
The property is located at 50 Glynn Street Albany, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑family brick property built in 1963; First‑floor residence with 5 bedrooms and 3 baths; Two one‑bedroom apartments on the lower level
