Two-Unit Duplex
For Sale
$300,000
698 Central Avenue, Albany, NY 12206
Two three-bedroom apartments offer separate utilities, living rooms, kitchens, and full baths.
Property Size2,568 SF
Lot Size0.11 Acres
Price / SF$116.82
Days on Market9
Property Features for 698 Central Avenue
General Information
Standard status
Active
Size
2,568 SF
Lot size
0.11 Acres
Property subtype
Multi-family
Building Details
Year Built
1915
Listing Agency:
Kellie Kieley Realty LLC
Listed By:
Bethany R Losito
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 27
Changed: Jul 31
Last Checked: Aug 4 at 10:10AM
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 Kellie Kieley Realty LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,568 square feet and was built in 1915. The property includes two three-bedroom apartments, each with a living room, kitchen, full bath, and separate utilities.
Situated on a 0.11-acre lot at 698 Central Avenue in Albany, New York, the property provides a residential income configuration with two distinct apartment units.
Situated on a 0.11-acre lot at 698 Central Avenue in Albany, New York, the property provides a residential income configuration with two distinct apartment units.
Key Highlights
- Two three‑bedroom apartments in a two‑unit duplex
- Approximately 2,568 square feet
- Separate utilities for each apartment
Financial Insights For Apartment 5plus
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 | $50.8k | $19.80 |
| − Vacancy | −$3.2k | −$1.23 |
| EGI | $47.7k | $18.57 |
| − OpEx | −$21.5k | −$8.36 |
| NOI | $26.2k | $10.21 |
2,568 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$417.8K
$365.6K – $487.4K
NOI $29,245 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$374.7K
$327.9K – $437.2K
NOI $26,232 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$677.5K
$592.8K – $790.4K
NOI $47,426 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,122
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments offer separate utilities, living rooms, kitchens, and full baths.
Where is this duplex located?
The property is located at 698 Central Avenue Albany, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two three‑bedroom apartments in a two‑unit duplex; Approximately 2,568 square feet; Separate utilities for each apartment
