Renovated Duplex with
For Sale
$269,900
Pending
502 Hudson Avenue, Albany, NY 12203
MultiFamily, Albany, NY
Property Size1,764 SF
Lot Size0.03 Acres
Days on Market10
Property Features for 502 Hudson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 4
Interior features
Solid Surface Counters, Paddle Fan, High Speed Internet, Built-in Features, Ceramic Tile Bath
Basement
Full, Interior Entry
Lot features
Level
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
From Madison Ave, Right onto Ontario St, Right onto Hudson Ave.
Standard status
Pending
APN
010100 65.61-3-35
Size
1,764 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
5667
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Zoned, Ductless (Heating), Electric (Heating), Forced Air
Cooling system
Central Air, Ductless
Water source
Public
Amenities
mini split HVAC
washer/dryer
Building Details
Year built
1920
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Patrick Dunn · License #10401288889
(518) 407-9834
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 24 at 6:06PM
MLS# 202626215
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 two-family duplex contains 1,764 square feet on a 0.03-acre lot and was built in 1920. Both residences have been substantially updated, including new siding, replacement windows, refreshed finishes, and modernized interiors. Each unit includes 3 bedrooms, 1 full bathroom, a mini split system for heating and cooling, and its own washer and dryer. Interior features include solid surface counters, ceramic tile baths, vinyl and tile flooring, built-in features, paddle fans, and high-speed internet availability.
Located at 502 Hudson Avenue in Albany’s Pine Hills neighborhood, the property is near restaurants, shops, schools, public transportation, and downtown Albany. Public water and public sewer serve the property, with cable available. Vinyl siding, ductless and electric heating, forced air, zoned heating, and central air are among the building’s reported systems and improvements.
Located at 502 Hudson Avenue in Albany’s Pine Hills neighborhood, the property is near restaurants, shops, schools, public transportation, and downtown Albany. Public water and public sewer serve the property, with cable available. Vinyl siding, ductless and electric heating, forced air, zoned heating, and central air are among the building’s reported systems and improvements.
Key Highlights
- Two‑family duplex with 1,764 square feet on a 0.03‑acre lot
- Each unit includes 3 bedrooms and 1 full bathroom
- Both residences have individual mini split heating and cooling systems
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated three-bedroom units with private laundry and individual heating and cooling systems.
Where is this duplex located?
The property is located at 502 Hudson Avenue 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: Two‑family duplex with 1,764 square feet on a 0.03‑acre lot; Each unit includes 3 bedrooms and 1 full bathroom; Both residences have individual mini split heating and cooling systems
