Updated Two-Family
For Sale
$295,000
59 Dana Avenue, Albany, NY 12208
Separate utilities and refreshed kitchens and bathrooms support straightforward residential leasing operations.
Property Size2,552 SF
Price / SF$115.60
Days on Market114
Property Features for 59 Dana Avenue
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi Family / Duplex
Taxes and HOA fees
Annual Taxes
$3,438
Amenities
Rubber
None, No
Baseboard, Natural Gas, Yes
Full
Circuit Breakers
Tile, Hardwood
Concrete Perimeter
Yes
Aluminum Siding
Back Yard
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Prime Properties
(518) 506-6937
Listed By:
Paul T Fontane · License #40FO0943140
(518) 506-6937
Source:
Compass
Added: May 11
Changed: Aug 30
Last Checked: Aug 31 at 10:15PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
Built in 1900, this 2,552-square-foot duplex contains two residential units with updated kitchens and bathrooms. Each unit has separate utilities, while baseboard heating, natural gas service, circuit breakers, tile and hardwood flooring, and a full basement are among the reported building features. Aluminum siding and a backyard complete the exterior profile.
The property is located at 59 Dana Avenue in Albany, within a short distance of Albany Medical Center, St. Peter's Hospital, Albany Law School, and Albany College of Pharmacy. Both units are occupied by long-term Section 8 tenants on month-to-month arrangements, providing an established tenancy structure with flexible lease timing.
The property is located at 59 Dana Avenue in Albany, within a short distance of Albany Medical Center, St. Peter's Hospital, Albany Law School, and Albany College of Pharmacy. Both units are occupied by long-term Section 8 tenants on month-to-month arrangements, providing an established tenancy structure with flexible lease timing.
Key Highlights
- Two‑family duplex totaling 2,552 SF
- Separate utilities for each unit
- Updated kitchens and 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
$26,068
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
8.84%
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%
$521,360
$521.4K
Cap Rate 7%
$372,400
$372.4K
Cap Rate 9%
$289,644
$289.6K
Market Conditions
NOI Build-Up for 2,552 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
$50.5K $19.80/SF
− Vacancy
−$3.1K −$1.23/SF
EGI
$47.4K $18.57/SF
− OpEx
−$21.3K −$8.36/SF
NOI
$26.1K $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%
$521,360
Cap Rate 7%
$372,400
Cap Rate 9%
$289,644
Alternative Uses
Best Use
Multifamily LT 5
$415.2K
$363.3K – $484.4K
NOI $29,063 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$372.4K
$325.9K – $434.5K
NOI $26,068 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$673.3K
$589.1K – $785.5K
NOI $47,130 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,701
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
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 - Separate utilities and refreshed kitchens and bathrooms support straightforward residential leasing operations.
Where is this duplex located?
The property is located at 59 Dana Avenue Albany, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑family duplex totaling 2,552 SF; Separate utilities for each unit; Updated kitchens and bathrooms
