Two-Unit
For Sale
$259,000
8 Delaware Terrace, Albany, NY 12209
The upper residence is vacant, while the lower residence is currently occupied by the owner.
Property Size2,056 SF
Price / SF$125.97
Days on Market10
Property Features for 8 Delaware Terrace
General Information
Standard status
Active
Size
2,056 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
RE/MAX Capital
Listed By:
Carmen Rau
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 6
Changed: Aug 14
Last Checked: Aug 14 at 10:22AM
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 RE/MAX Capital
Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex contains 2,056 square feet and provides three bedrooms on each floor. The property is currently occupied by the owner, while the second-floor residence is vacant and available for viewing.
The home is located a few blocks from downtown Albany, hospitals, and schools. Its two-floor configuration supports both residential occupancy and income-producing use, subject to the buyer’s plans and applicable requirements.
The home is located a few blocks from downtown Albany, hospitals, and schools. Its two-floor configuration supports both residential occupancy and income-producing use, subject to the buyer’s plans and applicable requirements.
Key Highlights
- Two‑unit duplex with 2,056 SF
- Three bedrooms on each floor
- Built in 1900
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
$23,414
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
9.04%
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%
$468,280
$468.3K
Cap Rate 7%
$334,486
$334.5K
Cap Rate 9%
$260,156
$260.2K
Market Conditions
NOI Build-Up for 2,056 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
$35.8K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$33.4K $16.27/SF
− OpEx
−$10.0K −$4.88/SF
NOI
$23.4K $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%
$468,280
Cap Rate 7%
$334,486
Cap Rate 9%
$260,156
Alternative Uses
Best Use
Multifamily LT 5
$334.5K
$292.7K – $390.2K
NOI $23,414 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$300.0K
$262.5K – $350.0K
NOI $21,002 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$542.4K
$474.6K – $632.8K
NOI $37,970 @ 7.0% cap · market cap 14.66%
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
2,140
Businesses Nearby
Explore this area
Business Placement
Demographics for 12209, NY
10,231
Population
4,768
Households
2.1
Avg Household Size
37
Median Age
46%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
4,650
Density / Sq Mi
$81,642
Median Household Income
$51,848
Median Earnings
$1,165
Median Rent
$200,800
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 - The upper residence is vacant, while the lower residence is currently occupied by the owner.
Where is this duplex located?
The property is located at 8 Delaware Terrace Albany, NY.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,056 SF; Three bedrooms on each floor; Built in 1900
