Updated Two-Family
637 Myrtle Avenue, Albany, NY 12208
MULTI_FAMILY - Albany, NY
Property size:
2,296 SFLot size:
0.07 AcresPrice / SF:
$138/SF- Added:
- Apr 24, 2026
- Days on Market:
- 74
- Last Refresh:
- Jul 6 at 9:06 am
Property Features for 637 Myrtle Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3
- Patio and Porch features
- Porch
- Standard status
- Active Under Contract
- Size
- 2,296 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6468
Utilities
- Heating system
- Hot Water(Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1918
- Number of units
- 2
- Flooring type
- Carpet, Linoleum, Tile, Hardwood
- Building materials
- Wood Siding, Vinyl Siding
- Roof type
- Rubber, Asphalt
Listing agent Bo Chen (518) 348-2060
Listing office Miranda Real Estate Group Inc 1482 Rt 9, Clifton Park, NY (518) 348-2060
Listing date Apr 24, 2026
MLS# 11668785
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two‑family home built in 1918 with two units, each offering 3 bedrooms and 1 full bath
- One unit is currently tenant occupied and one unit is vacant, offering rental income flexibility or owner occupancy
- Each unit includes a living room and a formal dining room, with hardwood flooring
- Updates include new windows, updated kitchen features with modern cabinetry, and 3‑year‑new vinyl siding
- Heating and hot water include a 3‑year‑new 1st‑floor boiler, plus two separate hot water tanks
- Basement laundry includes two washers and two dryers for tenant use
Overview
This updated two-family property includes two separate apartments, each offering three bedrooms and one full bathroom. Both units feature a living room, a formal dining room, and hardwood flooring, with updated kitchen elements that include modern cabinetry. Exterior improvements include new vinyl siding and new windows. Mechanical updates include a first-floor boiler installed within the past three years, and the basement has two separate hot water tanks. Laundry is available in the basement with two washers and two dryers for tenant convenience.
The property is located at 637 Myrtle Avenue in Albany, NY 12208. On-street parking is available, and the home is described as being conveniently near local amenities, shopping, dining, and major roadways.
The layout supports flexible ownership, with one unit currently tenant-occupied and the second unit vacant, allowing an owner to consider either continued rental use or personal occupancy while maintaining income from the leased unit. The combination of recent updates and functional two-unit design may appeal to buyers seeking a manageable residential income property.
The property is located at 637 Myrtle Avenue in Albany, NY 12208. On-street parking is available, and the home is described as being conveniently near local amenities, shopping, dining, and major roadways.
The layout supports flexible ownership, with one unit currently tenant-occupied and the second unit vacant, allowing an owner to consider either continued rental use or personal occupancy while maintaining income from the leased unit. The combination of recent updates and functional two-unit design may appeal to buyers seeking a manageable residential income property.
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 | $40.0k | $17.40 |
| − Vacancy | −$2.6k | −$1.13 |
| EGI | $37.4k | $16.27 |
| − OpEx | −$11.2k | −$4.88 |
| NOI | $26.1k | $11.39 |
2,296 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$373.5K
$326.9K – $435.8K
NOI $26,148 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$335.0K
$293.2K – $390.9K
NOI $23,453 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$605.8K
$530.0K – $706.7K
NOI $42,403 @ 7.0% cap · market cap 13.29%
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
- -73.782817
- Latitude
- 42.658667
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two units with 3 bedrooms each, updated interiors, and in-unit laundry hookups in the basement.
Where is this duplex located?
The property is located at 637 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two‑family home built in 1918 with two units, each offering 3 bedrooms and 1 full bath; One unit is currently tenant occupied and one unit is vacant, offering rental income flexibility or owner occupancy; Each unit includes a living room and a formal dining room, with hardwood flooring
