Two-Unit Duplex with Expansion
New
For Sale
$369,500
816 Park Avenue, Albany, NY 12208
MULTI_FAMILY - Other - Albany, NY
Property Size2,472 SF
Lot Size0.10 Acres
Price / SF$149.47
Days on Market2
Property Features for 816 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2
Parking
1
Parking features
Driveway
Basement
Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
South Main to Park
Standard status
Active
APN
010100 64.67-3-44
Size
2,472 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
7433
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Brokers Network
(518) 952-0665
Listed By:
Dun Zhuo Zheng · License #10401235201
(518) 292-8817
Added: Aug 10
Last Checked: Aug 11 at 6:06AM
MLS# 202623671
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 1920 duplex contains 2,472 square feet on a 0.1-acre lot and is arranged as two residential units. Each unit includes three bedrooms, a living room, formal dining room, and large kitchen. A full basement provides additional interior space, while the third floor offers storage or expansion potential. The property has vinyl siding, hardwood flooring, asphalt roofing, natural gas hot-water heat, and a driveway for parking.
Public water and public sewer serve the property. The source information states that a new roof was replaced on July 2026. Located at 816 Park Avenue in Albany, the property is presented for either owner occupancy or investor ownership.
Public water and public sewer serve the property. The source information states that a new roof was replaced on July 2026. Located at 816 Park Avenue in Albany, the property is presented for either owner occupancy or investor ownership.
Key Highlights
- Two‑unit duplex with 2,472 square feet of building area
- Each unit includes 3 bedrooms, a living room, formal dining room, and large kitchen
- Full basement plus third floor for storage or expansion
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 three-bedroom layouts with formal dining rooms, full kitchens, and additional basement and third-floor space.
Where is this duplex located?
The property is located at 816 Park Avenue 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‑unit duplex with 2,472 square feet of building area; Each unit includes 3 bedrooms, a living room, formal dining room, and large kitchen; Full basement plus third floor for storage or expansion
