Duplex with Updated First-Floor
For Sale
$369,900
545 Washington Avenue, Albany, NY 12206
Two-family layout includes a vacant lower unit and a rented upper unit.
Property Size2,208 SF
Price / SF$167.53
Days on Market8
Property Features for 545 Washington Avenue
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1929
Listing Agency:
Fave Realty Inc
Listed By:
Faruque Ahmed
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 30
Changed: Sep 4
Last Checked: Sep 5 at 8:34AM
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 Fave Realty Inc
Investment Insights
Based on property information with market context.
Built in 1929, this 2,208-square-foot duplex provides two residential units within a traditional two-story configuration. The first-floor apartment has been updated and is currently vacant, allowing for owner occupancy or new tenancy. The second-floor apartment is occupied by a tenant.
The property is located at 545 Washington Avenue in Albany, near Albany High School, public transportation, national retail chains, and the University at Albany. Its two-unit arrangement and current vacancy in the lower apartment provide flexibility for an owner-occupant or investor.
The property is located at 545 Washington Avenue in Albany, near Albany High School, public transportation, national retail chains, and the University at Albany. Its two-unit arrangement and current vacancy in the lower apartment provide flexibility for an owner-occupant or investor.
Key Highlights
- 2,208‑square‑foot duplex built in 1929
- Updated first‑floor unit is currently vacant
- Second‑floor unit is currently rented
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
$25,145
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
6.80%
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%
$502,900
$502.9K
Cap Rate 7%
$359,214
$359.2K
Cap Rate 9%
$279,389
$279.4K
Market Conditions
NOI Build-Up for 2,208 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
$38.4K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$35.9K $16.27/SF
− OpEx
−$10.8K −$4.88/SF
NOI
$25.1K $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 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%
$502,900
Cap Rate 7%
$359,214
Cap Rate 9%
$279,389
Alternative Uses
Best Use
Multifamily LT 5
$359.2K
$314.3K – $419.1K
NOI $25,145 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$582.5K
$509.7K – $679.6K
NOI $40,777 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout includes a vacant lower unit and a rented upper unit.
Where is this duplex located?
The property is located at 545 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 2,208‑square‑foot duplex built in 1929; Updated first‑floor unit is currently vacant; Second‑floor unit is currently rented
