Two-Unit Duplex Rental
New
For Sale
$300,000
698 Central Avenue, Albany, NY 12206
MULTI_FAMILY - Other - Albany, NY
Property Size2,568 SF
Lot Size0.11 Acres
Price / SF$116.82
Days on Market5
Property Features for 698 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 2, Bedroom 1
Parking
3
Parking features
Driveway
Window features
Screens, Storm Window(s), Aluminum Frames
Patio and Porch features
Deck, Porch
Fencing
Chain Link
Basement
Unfinished, Interior Entry, Full
View
City
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Take I-90 to Exit 5 for Everett Road, head south, and turn onto Central Avenue (Route 5). Property will be on your right.
Standard status
Active
APN
010100 64.28-1-50
Size
2,568 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
6531
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Radiant
Water source
Public
Building Details
Year built
1915
Number of units
2
Flooring type
Carpet, Hardwood
Building materials
Aluminum Siding
Roof type
Slate
Architectural style
Other
Listing Agency:
Kellie Kieley Realty LLC
(518) 225-0454
Listed By:
Bethany R Losito · License #10401388050
(518) 852-4825
Added: Jul 27
Changed: Jul 29
Last Checked: Jul 31 at 1:06AM
MLS# 202622722
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.
Investment Insights
Based on property information with market context.
This two-unit duplex offers 2,568 square feet total and is configured as two three-bedroom apartments. Each unit includes a comfortable living room, kitchen, and full bath, with separate utilities for each apartment.
The property is located at 698 Central Avenue in Albany, New York, on a 0.11-acre lot.
For buyers seeking a residential income property with two independent rental units, this duplex provides a straightforward two-apartment layout designed for separate utility billing.
The property is located at 698 Central Avenue in Albany, New York, on a 0.11-acre lot.
For buyers seeking a residential income property with two independent rental units, this duplex provides a straightforward two-apartment layout designed for separate utility billing.
Key Highlights
- Two‑unit duplex with approx. 2,568 SF on a 0.11‑acre lot
- Two separate 3‑bedroom apartments with full baths, living rooms, and kitchens
- 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
Property Profile
Current Use
Lease Details
2
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate three-bedroom units with full baths and separate utilities make up this income-generating duplex.
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‑unit duplex with approx. 2,568 SF on a 0.11‑acre lot; Two separate 3‑bedroom apartments with full baths, living rooms, and kitchens; Separate utilities for each apartment
