Updated Triplex with Dedicated
For Sale
$357,000
53 Pleasantview Ave, Albany, NY 12203
Three residential units feature hardwood floors, basement laundry, and updated building systems.
Property Size2,024 SF
Price / SF$176.38
Days on Market12
Property Features for 53 Pleasantview Ave
General Information
Standard status
Active
Size
2,024 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$7,659
Amenities
coin-operated washer and dryer
Building Details
Buildings
1
Listing Agency:
Howard Hanna Capital Inc
(518) 286-1000
Listed By:
Daisy L Hamilton Blair · License #10301214491
(518) 275-9486
Source:
Exprealty
Added: Aug 26
Changed: Sep 5
Last Checked: Sep 6 at 10:48AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 2,024-square-foot triplex contains two upper-level two-bedroom units and a lower-level one-bedroom apartment. Each upper unit includes one full bathroom, a living room, kitchen, and dining area with hardwood flooring. The basement apartment provides one bedroom, one bathroom, and a comfortable living area.
Building improvements include a new roof, updated windows, two boilers, and one new forced hot air furnace. The basement also contains newer coin-operated laundry equipment. Each of the three units has one dedicated parking space. The property is located near SUNY and local hospitals in Albany, NY.
Building improvements include a new roof, updated windows, two boilers, and one new forced hot air furnace. The basement also contains newer coin-operated laundry equipment. Each of the three units has one dedicated parking space. The property is located near SUNY and local hospitals in Albany, NY.
Key Highlights
- Three‑unit building with two two‑bedroom upper units and one one‑bedroom basement apartment
- 2,024 square feet of residential space
- New roof and updated windows
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
$23,050
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
6.46%
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%
$461,000
$461.0K
Cap Rate 7%
$329,286
$329.3K
Cap Rate 9%
$256,111
$256.1K
Market Conditions
NOI Build-Up for 2,024 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
$35.2K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$32.9K $16.27/SF
− OpEx
−$9.9K −$4.88/SF
NOI
$23.0K $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%
$461,000
Cap Rate 7%
$329,286
Cap Rate 9%
$256,111
Alternative Uses
Best Use
Multifamily LT 5
$329.3K
$288.1K – $384.2K
NOI $23,050 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$295.4K
$258.4K – $344.6K
NOI $20,675 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$534.0K
$467.2K – $623.0K
NOI $37,379 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
319
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature hardwood floors, basement laundry, and updated building systems.
Where is this triplex located?
The property is located at 53 Pleasantview Ave Albany, NY.
What is the asking price?
The asking price for this property is $357,000.
What are key features of this property?
This property features: Three‑unit building with two two‑bedroom upper units and one one‑bedroom basement apartment; 2,024 square feet of residential space; New roof and updated windows
