Two-Family Up/Down
631 Washington Avenue, Albany, NY 12206
New
MULTI_FAMILY - Other - Albany, NY
Property size:
2,272 SFLot size:
0.09 AcresPrice / SF:
$143/SF- Added:
- Jun 12, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 14 at 7:06 pm
Property Features for 631 Washington Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi Residence
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4
- Parking
- 3
- Parking features
- Driveway, Off Street
- Patio and Porch features
- Porch, Deck
- Interior features
- Paddle Fan, High Speed Internet
- Basement
- Full
- Standard status
- Active
- APN
- 010100 65.45-3-31
- Size
- 2,272 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6659
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Vinyl, Carpet, Hardwood
- Building materials
- Wood Siding
- Roof type
- Slate
- Architectural style
- Other
Listing agent Jennifer Eitleman License #10301220319 (518) 364-7393
Listing office Gabler Realty, LLC 321 Delaware Avenue, Delmar, NY (518) 935-4800
Listing date Jun 12, 2026
MLS# 202619557
Listing URL
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Well‑maintained two‑family up/down duplex in Albany with 5 total bedrooms and 2 full baths
- First‑floor unit: 3BR/1BA currently rented month‑to‑month at $975/month
- Second‑floor unit: 2BR/1BA currently vacant with projected rent of approximately $1,400/month
- Recent improvements include a new boiler and water heater serving the first‑floor unit and an updated bathroom in the second‑floor unit
- Separate utilities and hot water systems for each unit, plus two washer/dryer hookups in the basement
- Off‑street parking plus a former garage pad in the backyard for potential future garage reconstruction
Overview
This well-maintained two-family up/down duplex includes two separate units with distinct layouts and utility setups. The first-floor unit has 3 bedrooms and 1 full bath and is currently rented month-to-month. The second-floor unit has 2 bedrooms and 1 full bath and is currently vacant, providing flexibility for an owner-occupant or a future rental tenant. Recent improvements include a new boiler and water heater serving the first-floor unit, and an updated bathroom in the second-floor unit.
The property is located at 631 Washington Avenue in Albany, New York. Each unit has separate utilities and its own hot water system. For added convenience, there are two washer/dryer hookups in the basement, supporting in-unit laundry setups without sharing space. Off-street parking is available, and the backyard includes a former garage pad that could allow for future garage reconstruction or other improvements.
With two independent living spaces and separate utilities, this property can suit investors seeking a manageable rental structure or an owner-occupant who wants to live in one unit while renting the other. The combination of recent mechanical and interior updates, plus dedicated laundry hookups and parking, supports day-to-day functionality for tenants.
The property is located at 631 Washington Avenue in Albany, New York. Each unit has separate utilities and its own hot water system. For added convenience, there are two washer/dryer hookups in the basement, supporting in-unit laundry setups without sharing space. Off-street parking is available, and the backyard includes a former garage pad that could allow for future garage reconstruction or other improvements.
With two independent living spaces and separate utilities, this property can suit investors seeking a manageable rental structure or an owner-occupant who wants to live in one unit while renting the other. The combination of recent mechanical and interior updates, plus dedicated laundry hookups and parking, supports day-to-day functionality for tenants.
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 Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.77986
- Latitude
- 42.666696
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with separate utilities, off-street parking, and updated systems for comfortable rental living.
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 two‑family up/down duplex in Albany with 5 total bedrooms and 2 full baths; First‑floor unit: 3BR/1BA currently rented month‑to‑month at $975/month; Second‑floor unit: 2BR/1BA currently vacant with projected rent of approximately $1,400/month
