Three-Bedroom Duplex with
For Sale
$369,500
Pending
816 Park Ave, Albany, NY 12208
Two residential units offer matching three-bedroom layouts with living, dining, and kitchen areas.
Property Size2,472 SF
Days on Market11
Property Features for 816 Park Ave
General Information
Standard status
Pending
Size
2,472 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,433
Listing Agency:
Brokers Network
(518) 292-8817
Listed By:
Dun Zhuo Zheng · License #10401235201
(518) 292-8817
Source:
Exprealty
Added: Aug 10
Changed: Aug 18
Last Checked: Aug 20 at 10:20AM
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 Brokers Network
Investment Insights
Based on property information with market context.
This two-family residential property contains two units, each with three bedrooms, a living room, formal dining room, and large kitchen. The layout also includes a full basement and a third floor that can provide storage or expansion space. The property size is 2,472.
Located at 816 Park Ave in Albany, NY, the home offers a configuration suited to owner occupancy or residential income use. A new roof was replaced on July 2026.
Located at 816 Park Ave in Albany, NY, the home offers a configuration suited to owner occupancy or residential income use. A new roof was replaced on July 2026.
Key Highlights
- Two‑family property with two three‑bedroom units
- Each unit includes a living room, formal dining room, and large kitchen
- Full basement included
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
$28,152
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
7.62%
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%
$563,040
$563.0K
Cap Rate 7%
$402,171
$402.2K
Cap Rate 9%
$312,800
$312.8K
Market Conditions
NOI Build-Up for 2,472 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
$43.0K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.2K $16.27/SF
− OpEx
−$12.1K −$4.88/SF
NOI
$28.2K $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%
$563,040
Cap Rate 7%
$402,171
Cap Rate 9%
$312,800
Alternative Uses
Best Use
Multifamily LT 5
$402.2K
$351.9K – $469.2K
NOI $28,152 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$360.7K
$315.6K – $420.9K
NOI $25,251 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$652.2K
$570.7K – $760.9K
NOI $45,653 @ 7.0% cap · market cap 12.36%
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
851
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching three-bedroom layouts with living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 816 Park Ave Albany, NY.
What is the asking price?
The asking price for this property is $369,500.
What are key features of this property?
This property features: Two‑family property with two three‑bedroom units; Each unit includes a living room, formal dining room, and large kitchen; Full basement included
