511 Morris Street, Albany, NY 12208
Well-maintained two-unit investment with separate utilities, ample off-street parking, and coin laundry in the basement.
- Added:
- Dec 31, 2025
- Days on Market:
- 166
- Last Refresh:
- Jun 5 at 2:30 am
Property Features for 511 Morris Street
General Information
- Standard status
- Active
- Size
- 2,103 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1880
Listing agent Hany Y Ayoub (518) 639-4663
Listing office Venture Fox Realty Group LLC
Listing date Dec 31, 2025
Source Signatureonerealtygroup
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All listing content including descriptions, pricing, images are the copyrighted material of Venture Fox Realty Group LLC
HighLights
- Well‑maintained two‑family investment property built in 1880
- Both units currently have long‑term tenants interested in renewing leases
- Separate utilities for the two units
- Large driveway with ample off‑street parking
- Coin‑operated washer and dryer in the basement
- Second unit fully renovated; first unit freshly painted with refinished floors
Overview
Located at 511 Morris Street in Albany’s Pine Hills area, the property is described as convenient to colleges, hospitals, shopping, and restaurants. The two units are currently occupied by long-term tenants who are interested in renewing their leases.
For prospective owners, this layout can suit an investor or operator seeking a two-unit asset with income continuity and independent utility arrangements. The combination of updated interiors, on-site coin laundry, and off-street parking supports straightforward day-to-day tenancy, while the small backyard adds modest usable outdoor space for residents.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.6k | $17.40 |
| − Vacancy | −$2.4k | −$1.13 |
| EGI | $34.2k | $16.27 |
| − OpEx | −$10.3k | −$4.88 |
| NOI | $23.9k | $11.39 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.7842293
- Latitude
- 42.6602978
