Two-Unit Duplex with Separate
New
For Sale
$430,000
638 Providence Street, Albany, NY 12208
Two three-bedroom apartments include distinct indoor and outdoor spaces, with coin-operated laundry and off-street parking.
Property Size2,736 SF
Price / SF$157.16
Days on Market7
Property Features for 638 Providence Street
General Information
Standard status
Active
Size
2,736 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
3BR/2BA, 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Annual Taxes
$7,469
Amenities
deck
enclosed front porch
basement
coin-operated laundry
Building Details
Year Built
1938
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Rosemarie Durant · License #10401264469
(518) 368-1444
Source:
Capmarkrealty
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 28 at 5:11AM
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
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Investment Insights
Based on property information with market context.
Built in 1938, this 2,736-square-foot duplex contains two three-bedroom apartments. The first-floor residence has two full bathrooms, living and dining rooms, and an additional rear living area that opens onto a deck. Upstairs, the apartment includes one full bathroom, living and dining rooms, and an enclosed front porch.
A basement provides storage space. Coin-operated laundry, off-street parking, and separate utilities serve the property. The duplex is near hospitals and the SUNY campus.
A basement provides storage space. Coin-operated laundry, off-street parking, and separate utilities serve the property. The duplex is near hospitals and the SUNY campus.
Key Highlights
- Two apartments, each with 3 bedrooms
- First‑floor apartment has 2 full bathrooms and a deck
- Second‑floor apartment includes an enclosed front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,158
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,160
$623.2K
Cap Rate 7%
$445,114
$445.1K
Cap Rate 9%
$346,200
$346.2K
Market Conditions
NOI Build-Up for 2,736 SF
Gross rent
$47.6K $17.40/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$44.5K $16.27/SF
− OpEx
−$13.4K −$4.88/SF
NOI
$31.2K $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%
$623,160
Cap Rate 7%
$445,114
Cap Rate 9%
$346,200
Alternative Uses
Best Use
Multifamily LT 5
$445.1K
$389.5K – $519.3K
NOI $31,158 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$399.3K
$349.4K – $465.8K
NOI $27,948 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$721.8K
$631.6K – $842.1K
NOI $50,528 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,470
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments include distinct indoor and outdoor spaces, with coin-operated laundry and off-street parking.
Where is this duplex located?
The property is located at 638 Providence Street Albany, NY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms; First‑floor apartment has 2 full bathrooms and a deck; Second‑floor apartment includes an enclosed front porch
