Three-Unit Multifamily
For Sale
$484,999
77 S Allen Street, Albany, NY 12208
MultiFamily, Albany, NY
Property Size3,495 SF
Lot Size0.13 Acres
Price / SF$138.77
Days on Market87
Property Features for 77 S Allen Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 8, Bedroom 2, Bedroom 7, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 9, Bedroom 3, Bedroom 5
Patio and Porch features
Porch
Basement
Unfinished
Lot features
Level, Corner Lot
Elementary school
Pine Hills
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
South Allen St. one block south of Madison Ave.
Standard status
Active
APN
010100 64.66-2-1
Size
3,495 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
9568
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Radiant
Water source
Public
Building Details
Year built
1900
Number of units
3
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Mariana DeLuca · License #10301219166
(518) 258-7595
Added: Jul 7
Changed: Sep 12
Last Checked: Oct 1 at 4:06PM
MLS# 202621199
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 triplex contains 3,495 square feet on a 0.13-acre parcel and was built in 1900. The front residence has four bedrooms, handicap-accessible features, and long-term tenants. The middle residence also offers four bedrooms and includes an updated kitchen, updated bathroom, and electrical improvements. The rear residence is currently operated as an Airbnb, creating three distinct residential configurations within the property.
Located on S Allen Street in Albany’s Pine Hills neighborhood, the property is near public transportation and neighborhood amenities. Building features include vinyl siding, an asphalt roof, a porch, natural gas and radiant heating, public water, and public sewer.
Located on S Allen Street in Albany’s Pine Hills neighborhood, the property is near public transportation and neighborhood amenities. Building features include vinyl siding, an asphalt roof, a porch, natural gas and radiant heating, public water, and public sewer.
Key Highlights
- 3,495‑square‑foot triplex on a 0.13‑acre parcel
- Three residential units with two four‑bedroom configurations
- Front unit includes handicap‑accessible features and long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,802
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,040
$796.0K
Cap Rate 7%
$568,600
$568.6K
Cap Rate 9%
$442,244
$442.2K
Market Conditions
NOI Build-Up for 3,495 SF
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.
Gross rent
$60.8K $17.40/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$56.9K $16.27/SF
− OpEx
−$17.1K −$4.88/SF
NOI
$39.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,040
Cap Rate 7%
$568,600
Cap Rate 9%
$442,244
Alternative Uses
Best Use
Multifamily LT 5
$568.6K
$497.5K – $663.4K
NOI $39,802 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$510.0K
$446.3K – $595.0K
NOI $35,701 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$922.1K
$806.8K – $1.08M
NOI $64,546 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
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
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 - The property includes public water and sewer, natural gas heating, and radiant heat.
Where is this triplex located?
The property is located at 77 S Allen Street Albany, NY.
What is the asking price?
The asking price for this property is $484,999.
What are key features of this property?
This property features: 3,495‑square‑foot triplex on a 0.13‑acre parcel; Three residential units with two four‑bedroom configurations; Front unit includes handicap‑accessible features and long‑term tenants
