Two-Unit Duplex with
New
For Sale
$350,000
831 Washington Avenue, Albany, NY 12206
One apartment is vacant while the other is tenant-occupied, providing two distinct occupancy arrangements.
Property Size2,368 SF
Price / SF$147.80
Days on Market5
Property Features for 831 Washington Avenue
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
Taxes and HOA fees
Annual Taxes
$6,724
Amenities
front balcony
private rear balcony
spacious yard
large basement
massive walk-up attic
Building Details
Year Built
1930
Listing Agency:
Real Broker NY LLC
Listed By:
Coty L Demers · License #10301223940
(518) 526-5265
Source:
Capmarkrealty
Added: Oct 26
Last Checked: Oct 28 at 5:04AM
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 Real Broker NY LLC
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Investment Insights
Based on property information with market context.
This 2,368-square-foot duplex in Albany contains two apartments with separate layouts. The larger second-floor unit is vacant and includes a front balcony, a private rear balcony, a gas stove, and a recently renovated bathroom. The first-floor apartment is occupied. Hardwood floors and custom wood detailing are present in the home, along with a basement, a walk-up attic, and a shared yard.
Built in 1930, the property is at 831 Washington Avenue. Shops, restaurants, and public transportation are nearby.
Built in 1930, the property is at 831 Washington Avenue. Shops, restaurants, and public transportation are nearby.
Key Highlights
- Two apartments, with the second‑floor unit vacant and the first‑floor unit occupied
- 2,368 square feet in a duplex built in 1930
- Larger upstairs apartment has 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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
409
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One apartment is vacant while the other is tenant-occupied, providing two distinct occupancy arrangements.
Where is this duplex located?
The property is located at 831 Washington Avenue 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 apartments, with the second‑floor unit vacant and the first‑floor unit occupied; 2,368 square feet in a duplex built in 1930; Larger upstairs apartment has front and private rear balconies
