Renovated Duplex with Two 3-Bedroom
For Sale
$269,900
Pending
502 Hudson Ave, Albany, NY 12203
Updated two-family property with separate climate control and laundry equipment in each residence.
Property Size1,764 SF
Days on Market11
Property Features for 502 Hudson Ave
General Information
Standard status
Pending
Size
1,764 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,666
Amenities
mini split heating and cooling system
washer and dryer
Listing Agency:
KW Platform
(518) 724-5800
Listed By:
Patrick Dunn · License #10401288889
(518) 407-9834
Source:
Exprealty
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 24 at 1:18PM
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 KW Platform
Investment Insights
Based on property information with market context.
Located at 502 Hudson Ave in Albany’s Pine Hills neighborhood, this 1,764-square-foot duplex contains two residential units, each with 3 bedrooms and 1 full bath. The property has received extensive interior and exterior improvements, including new siding, replacement windows, updated finishes, and other modernized elements.
Both residences include an individual mini-split heating and cooling system along with a washer and dryer. The property is near restaurants, retail shops, schools, and public transportation, with access to downtown Albany and the surrounding Pine Hills area.
Both residences include an individual mini-split heating and cooling system along with a washer and dryer. The property is near restaurants, retail shops, schools, and public transportation, with access to downtown Albany and the surrounding Pine Hills area.
Key Highlights
- 1,764 SF duplex at 502 Hudson Ave, Albany, NY
- Two units, each with 3 bedrooms and 1 full bath
- Extensive interior and exterior renovations completed
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
$20,089
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
7.44%
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%
$401,780
$401.8K
Cap Rate 7%
$286,986
$287.0K
Cap Rate 9%
$223,211
$223.2K
Market Conditions
NOI Build-Up for 1,764 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
$30.7K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.7K $16.27/SF
− OpEx
−$8.6K −$4.88/SF
NOI
$20.1K $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%
$401,780
Cap Rate 7%
$286,986
Cap Rate 9%
$223,211
Alternative Uses
Best Use
Multifamily LT 5
$287.0K
$251.1K – $334.8K
NOI $20,089 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$257.4K
$225.2K – $300.3K
NOI $18,019 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$465.4K
$407.2K – $543.0K
NOI $32,578 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,969
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family property with separate climate control and laundry equipment in each residence.
Where is this duplex located?
The property is located at 502 Hudson Ave Albany, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,764 SF duplex at 502 Hudson Ave, Albany, NY; Two units, each with 3 bedrooms and 1 full bath; Extensive interior and exterior renovations completed
