Two-Unit Duplex with Separate
New
For Sale
$265,000
512 Yates Street, Albany, NY 12208
MultiFamily, Albany, NY
Property Size2,170 SF
Lot Size0.05 Acres
Price / SF$122.12
Days on Market3
Property Features for 512 Yates Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1
Basement
Unfinished
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Madison to Ontario to Right on Yates
Standard status
Active
APN
010100 64.76-1-36
Size
2,170 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4397
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1870
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Darby Real Estate of New York Inc
(518) 444-3004
Listed By:
Kelly L Sharifipour · License #10311201505
(518) 322-8863
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 22 at 2:06PM
MLS# 202626596
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-unit duplex at 512 Yates Street contains 2,170 square feet on a 0.05-acre lot and was built in 1870. The property includes six bedrooms and two bathrooms, with vinyl siding and separate utilities for the units. The first-floor residence has hardwood floors, a large kitchen, and an in-unit washer and dryer, while the second-floor unit provides spacious living areas.
Public water and public sewer serve the property. Heating is provided by natural gas-fired hot water and baseboard systems. The Albany location is near colleges, hospitals, restaurants, shopping, public transportation, and major highways, supporting both residential occupancy and income-property use.
Public water and public sewer serve the property. Heating is provided by natural gas-fired hot water and baseboard systems. The Albany location is near colleges, hospitals, restaurants, shopping, public transportation, and major highways, supporting both residential occupancy and income-property use.
Key Highlights
- Two‑unit duplex with separate utilities
- 2,170 square feet on a 0.05‑acre lot
- Six bedrooms and two bathrooms
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
Yes
Utilities to site
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story residential income property with hardwood flooring, in-unit laundry, and access to public water and sewer.
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 with separate utilities; 2,170 square feet on a 0.05‑acre lot; Six bedrooms and two bathrooms
