Brick
New
For Sale
$325,000
74 Philip Street, Albany, NY 12202
MultiFamily, Albany, NY
Property Size2,340 SF
Lot Size0.04 Acres
Price / SF$138.89
Days on Market1
Property Features for 74 Philip Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4
Security features
Security Lighting
Patio and Porch features
Porch, Patio
Interior features
Vaulted Ceiling(s), Built-in Features
Basement
Apartment
View
City
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Madison to Philip St.
Standard status
Active
APN
010100 76.49-5-8
Size
2,340 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6670
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
washer/dryer hookups
back porches
Building Details
Year built
1860
Number of units
3
Flooring type
Laminate, Hardwood
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Andrea Tallman · License #10401378283
(518) 410-8050
Added: Oct 13
Last Checked: Oct 13 at 9:06PM
MLS# 202628148
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.
The 2,340-square-foot brick triplex contains three units on a 0.04-acre lot. The first-floor apartment has two bedrooms, vaulted ceilings, hardwood flooring, and built-in features; it is vacant. A one-bedroom unit on the third floor is leased, while the basement unit is rented month-to-month. Separate utilities serve the apartments, and each has a new electrical connection. The property also has newer rear porches and was built in 1860.
Key Highlights
- Three‑unit brick building with 2,340 square feet on a 0.04‑acre lot
- Vacant first‑floor apartment with two bedrooms, vaulted ceilings, hardwood floors, and built‑ins
- Third‑floor one‑bedroom unit is leased; basement apartment is rented month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,649
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,980
$533.0K
Cap Rate 7%
$380,700
$380.7K
Cap Rate 9%
$296,100
$296.1K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$40.7K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$38.1K $16.27/SF
− OpEx
−$11.4K −$4.88/SF
NOI
$26.6K $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%
$532,980
Cap Rate 7%
$380,700
Cap Rate 9%
$296,100
Alternative Uses
Best Use
Multifamily LT 5
$380.7K
$333.1K – $444.2K
NOI $26,649 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$341.5K
$298.8K – $398.4K
NOI $23,903 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$617.4K
$540.2K – $720.3K
NOI $43,215 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences have separate utilities, with a mix of occupied and vacant units.
Where is this triplex located?
The property is located at 74 Philip Street 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: Three‑unit brick building with 2,340 square feet on a 0.04‑acre lot; Vacant first‑floor apartment with two bedrooms, vaulted ceilings, hardwood floors, and built‑ins; Third‑floor one‑bedroom unit is leased; basement apartment is rented month‑to‑month
