Triplex With Detached
New
For Sale
$319,900
50 Park Avenue, Albany, NY 12202
MultiFamily, Albany, NY
Property Size2,388 SF
Lot Size0.06 Acres
Price / SF$133.96
Days on Market1
Property Features for 50 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Parking
2
Parking features
Garage
Window features
Screens, Double Pane Windows
Patio and Porch features
Deck
Interior features
Built-in Features
Fencing
Gate, Perimeter, Fenced
Basement
Apartment
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Take Madison Ave to Eagle St. Turn south onto Eagle St, then right onto Park Ave. Property is located at 50 Park Ave.
Standard status
Active
APN
010100 76.49-7-14
Size
2,388 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5238
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1865
Number of units
3
Flooring type
Vinyl, Hardwood, Tile
Building materials
Brick
Roof type
Rubber, Flat
Listing Agency:
Armida Rose Realty Group
(518) 374-2228
Listed By:
Charley Q Pollard · License #10301224122
(518) 860-2077
Added: Oct 1
Last Checked: Oct 1 at 10:06PM
MLS# 202627390
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.
Investment Insights
Based on property information with market context.
This brick triplex in Albany contains 2,388 square feet across a 0.06-acre parcel. Two units are occupied, and the basement unit is scheduled to be vacant when the sale closes. A detached garage provides two parking spaces. The home dates to 1865 and includes a deck, fenced perimeter, and built-in features. Interior finishes include hardwood, vinyl, and tile flooring; heat is supplied by natural gas and baseboard systems.
The property is at 50 Park Avenue, near Lincoln Park, the Empire State Plaza, downtown Albany, restaurants, shopping, and major commuter routes. Public water and sewer serve the property, and cable is available.
The property is at 50 Park Avenue, near Lincoln Park, the Empire State Plaza, downtown Albany, restaurants, shopping, and major commuter routes. Public water and sewer serve the property, and cable is available.
Key Highlights
- Triplex with 2,388 square feet on a 0.06‑acre parcel
- Two occupied units; basement unit expected to be vacant at closing
- Detached garage with two parking spaces
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
$27,195
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
8.50%
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%
$543,900
$543.9K
Cap Rate 7%
$388,500
$388.5K
Cap Rate 9%
$302,167
$302.2K
Market Conditions
NOI Build-Up for 2,388 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
$41.6K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.9K $16.27/SF
− OpEx
−$11.7K −$4.88/SF
NOI
$27.2K $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%
$543,900
Cap Rate 7%
$388,500
Cap Rate 9%
$302,167
Alternative Uses
Best Use
Multifamily LT 5
$388.5K
$339.9K – $453.3K
NOI $27,195 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$348.5K
$304.9K – $406.6K
NOI $24,393 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$630.0K
$551.3K – $735.0K
NOI $44,102 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two apartments are occupied, while the basement unit is expected to be vacant at closing.
Where is this triplex located?
The property is located at 50 Park Avenue Albany, NY.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Triplex with 2,388 square feet on a 0.06‑acre parcel; Two occupied units; basement unit expected to be vacant at closing; Detached garage with two parking spaces
