Two-Unit Duplex with Vacant Upper
For Sale
$259,000
Pending
8 Delaware Terrace, Albany, NY 12209
The upper residence is vacant, while the lower unit is owner occupied.
Property Size2,056 SF
Days on Market68
Property Features for 8 Delaware Terrace
General Information
Standard status
Pending
Size
2,056 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Country Boy Realty
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Aug 11
Changed: Oct 16
Last Checked: Oct 16 at 8:35AM
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 Country Boy Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex provides 2,056 square feet with a three-bedroom layout on each floor. The upper unit is vacant and available for immediate showing, while the lower unit is currently occupied by the owner.
Located at 8 Delaware Terrace in Albany, the property is a few blocks from downtown, hospitals, and schools. Its two-floor configuration supports both owner occupancy and rental use, subject to applicable requirements.
Located at 8 Delaware Terrace in Albany, the property is a few blocks from downtown, hospitals, and schools. Its two-floor configuration supports both owner occupancy and rental use, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with a three‑bedroom layout on each floor
- 2,056 square feet of property size
- Upper unit is vacant and available for showing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,414
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The upper residence is vacant, while the lower unit is owner occupied.
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 a three‑bedroom layout on each floor; 2,056 square feet of property size; Upper unit is vacant and available for showing
