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 Market26
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: Oct 6
Last Checked: Oct 9 at 11:37PM
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 / Yr
$20,089
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
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
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 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
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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
