Two-Unit Duplex with
New
For Sale
$350,000
831 Washington Ave, Albany, NY 12206
A vacant upper residence offers two private balconies, while the first-floor unit is occupied.
Property Size2,368 SF
Price / SF$147.80
Days on Market5
Property Features for 831 Washington Ave
General Information
Standard status
Active
Size
2,368 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Tenant in Place
Yes
Amenities
front balcony
private rear balcony
spacious yard
large basement
massive walk-up attic
Building Details
Year Built
1930
Buildings
1
Listing Agency:
M J J Realty
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 8:26AM
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 M J J Realty
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Investment Insights
Based on property information with market context.
This 2,368-square-foot duplex contains two residences, with the upper unit currently vacant and the first-floor unit occupied. The upper residence has a front balcony and a private rear balcony, a gas stove in the kitchen, and a recently renovated bathroom. Hardwood floors and detailed wood trim are present in the home. A basement, walk-up attic, and shared yard provide additional space.
Built in 1930, the property is located at 831 Washington Ave in Albany, near local shops, restaurants, and public transportation.
Built in 1930, the property is located at 831 Washington Ave in Albany, near local shops, restaurants, and public transportation.
Key Highlights
- Two‑unit duplex built in 1930
- 2,368 square feet
- Vacant upper unit with front and private rear balconies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,967
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,340
$539.3K
Cap Rate 7%
$385,243
$385.2K
Cap Rate 9%
$299,633
$299.6K
Market Conditions
NOI Build-Up for 2,368 SF
Gross rent
$41.2K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.5K $16.27/SF
− OpEx
−$11.6K −$4.88/SF
NOI
$27.0K $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%
$539,340
Cap Rate 7%
$385,243
Cap Rate 9%
$299,633
Alternative Uses
Best Use
Multifamily LT 5
$385.2K
$337.1K – $449.5K
NOI $26,967 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$345.6K
$302.4K – $403.2K
NOI $24,189 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$624.7K
$546.7K – $728.9K
NOI $43,732 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A vacant upper residence offers two private balconies, while the first-floor unit is occupied.
Where is this duplex located?
The property is located at 831 Washington Ave Albany, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1930; 2,368 square feet; Vacant upper unit with front and private rear balconies
