Two-Family Up-Down
631 Washington Avenue Albany, NY 12206
631 Washington Avenue, Albany, NY, 12206
$325,000
For Sale
$325,000
Well-maintained two-family duplex with separate utilities, off-street parking, and two washer/dryer hookups in the basement.
Property Size2,272 SF
Price / SF$143.05
Days on Market65
Property Features for 631 Washington Avenue
General Information
- Standard status
- Active
- Size
- 2,272 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Gabler Realty,LLC
Listed by
Jennifer Eitleman
(518) 639-4663
Source
Signatureonerealtygroup
Added: May 19 Updated: Jul 21 at 2:41PM Checked: Jul 21 at 2:41PM
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 Gabler Realty,LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family up/down duplex features two separate residential units. The first-floor unit has 3 bedrooms and 1 full bath and is currently rented on a month-to-month basis. The second-floor unit has 2 bedrooms and 1 full bath and is currently vacant. Recent updates include a new boiler and water heater serving the first-floor unit, and an updated bathroom in the second-floor unit.
The property provides separate utilities and hot water systems for each unit. A shared basement includes two washer/dryer hookups for added in-unit convenience, along with off-street parking. The backyard also includes a former garage pad, creating an opportunity for future garage reconstruction or other improvements.
With an up/down configuration and separated systems, the property is set up for straightforward rental operations with each unit functioning independently.
The property provides separate utilities and hot water systems for each unit. A shared basement includes two washer/dryer hookups for added in-unit convenience, along with off-street parking. The backyard also includes a former garage pad, creating an opportunity for future garage reconstruction or other improvements.
With an up/down configuration and separated systems, the property is set up for straightforward rental operations with each unit functioning independently.
Key Highlights
- Well‑maintained 2‑family up/down duplex, built in 1900, in Albany
- First‑floor unit: 3 bed, 1 full bath, currently rented month‑to‑month at $975/month
- Second‑floor unit: 2 bed, 1 full bath, currently vacant with projected rent of approx. $1,400/month
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.5k | $17.40 |
| − Vacancy | −$2.6k | −$1.13 |
| EGI | $37.0k | $16.27 |
| − OpEx | −$11.1k | −$4.88 |
| NOI | $25.9k | $11.39 |
2,272 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$331.5K
$290.1K – $386.8K
NOI $23,208 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$599.4K
$524.5K – $699.3K
NOI $41,959 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained two-family duplex with separate utilities, off-street parking, and two washer/dryer hookups in the basement.
Where is this duplex located?
The property is located at 631 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Well‑maintained 2‑family up/down duplex, built in 1900, in Albany; First‑floor unit: 3 bed, 1 full bath, currently rented month‑to‑month at $975/month; Second‑floor unit: 2 bed, 1 full bath, currently vacant with projected rent of approx. $1,400/month
