Up-and-Down Duplex with
For Sale
$325,000
Pending
631 Washington Avenue, Albany, NY 12206
Multi Residence zoning and separate utility systems serve the two-unit residential layout.
Property Size2,272 SF
Days on Market86
Property Features for 631 Washington Avenue
General Information
Standard status
Pending
Size
2,272 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
Multi Residence
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,659
Amenities
washer/dryer hookups
off-street parking
Building Details
Year Built
1900
Listing Agency:
Gabler Realty, LLC
Listed By:
Jennifer Eitleman · License #10301220319
(518) 364-7393
Source:
Capmarkrealty
Added: Jul 24
Changed: Oct 14
Last Checked: Oct 16 at 6:12AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,272-square-foot duplex, built in 1900, has one apartment on each floor. The first-floor residence contains 3 bedrooms and 1 full bath, while the upper unit includes 2 bedrooms and 1 full bath. The lower apartment is occupied month-to-month, and the second-floor apartment is vacant. Recent work includes a new boiler and water heater for the first-floor unit, along with a renovated bathroom upstairs.
Each apartment has separate utilities and its own hot water system. The basement provides two washer/dryer hookups, and the property includes off-street parking. A former garage pad remains in the backyard. The property is zoned Multi Residence and is located at 631 Washington Avenue in Albany, NY 12206.
Each apartment has separate utilities and its own hot water system. The basement provides two washer/dryer hookups, and the property includes off-street parking. A former garage pad remains in the backyard. The property is zoned Multi Residence and is located at 631 Washington Avenue in Albany, NY 12206.
Key Highlights
- 2,272 SF up‑and‑down duplex with 3‑bedroom and 2‑bedroom apartments
- First‑floor unit has 3 bedrooms, 1 full bath, and month‑to‑month occupancy
- Second‑floor unit offers 2 bedrooms, 1 full bath, and is currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,874
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,480
$517.5K
Cap Rate 7%
$369,629
$369.6K
Cap Rate 9%
$287,489
$287.5K
Market Conditions
NOI Build-Up for 2,272 SF
Gross rent
$39.5K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.0K $16.27/SF
− OpEx
−$11.1K −$4.88/SF
NOI
$25.9K $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 Rate 5%
$517,480
Cap Rate 7%
$369,629
Cap Rate 9%
$287,489
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Frequently Asked Questions
What type of property is this?
Duplex - Multi Residence zoning and separate utility systems serve the two-unit residential layout.
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: 2,272 SF up‑and‑down duplex with 3‑bedroom and 2‑bedroom apartments; First‑floor unit has 3 bedrooms, 1 full bath, and month‑to‑month occupancy; Second‑floor unit offers 2 bedrooms, 1 full bath, and is currently vacant
