Two-Unit Duplex with Separate
New
For Sale
$265,000
512 Yates Street, Albany, NY 12208
Two-story residential property with hardwood flooring, large kitchen, and in-unit laundry in one apartment.
Property Size2,170 SF
Price / SF$122.12
Days on Market3
Property Features for 512 Yates Street
General Information
Standard status
Active
Size
2,170 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1870
Listing Agency:
Darby Real Estate of New York Inc
Listed By:
Kelly L Sharifipour
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Sep 22
Last Checked: Sep 24 at 9:52AM
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 Darby Real Estate of New York Inc
Investment Insights
Based on property information with market context.
Built in 1870, this 2,170-square-foot duplex contains two residential units arranged across two floors. The first-floor apartment includes hardwood floors, a large kitchen, and an in-unit washer and dryer. The upper unit provides spacious living areas, while separate utilities serve the property.
The duplex is located at 512 Yates Street in Albany, NY, within the Pine Hills neighborhood. Colleges, hospitals, restaurants, shopping, public transportation, and major highways are identified in the surrounding area, providing access to a range of established services and transportation options.
The duplex is located at 512 Yates Street in Albany, NY, within the Pine Hills neighborhood. Colleges, hospitals, restaurants, shopping, public transportation, and major highways are identified in the surrounding area, providing access to a range of established services and transportation options.
Key Highlights
- Two‑unit duplex built in 1870
- 2,170 square feet across two floors
- Separate utilities for each unit
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
$22,166
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
8.36%
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%
$443,320
$443.3K
Cap Rate 7%
$316,657
$316.7K
Cap Rate 9%
$246,289
$246.3K
Market Conditions
NOI Build-Up for 2,170 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
$43.0K $19.80/SF
− Vacancy
−$2.7K −$1.23/SF
EGI
$40.3K $18.57/SF
− OpEx
−$18.1K −$8.36/SF
NOI
$22.2K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$443,320
Cap Rate 7%
$316,657
Cap Rate 9%
$246,289
Alternative Uses
Best Use
Multifamily LT 5
$353.0K
$308.9K – $411.9K
NOI $24,713 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$316.7K
$277.1K – $369.4K
NOI $22,166 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$572.5K
$501.0K – $667.9K
NOI $40,076 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,670
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
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 - Two-story residential property with hardwood flooring, large kitchen, and in-unit laundry in one apartment.
Where is this duplex located?
The property is located at 512 Yates Street Albany, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1870; 2,170 square feet across two floors; Separate utilities for each unit
