Updated Two-Unit
For Sale
$329,000
860 Washington Ave, Albany, NY 12203
Vacant two-family property with new appliances, refreshed finishes, and naturally bright interiors.
Property Size2,051 SF
Price / SF$160.41
Days on Market49
Property Features for 860 Washington Ave
General Information
Standard status
Active
Size
2,051 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1907
Listing Agency:
Madison Park Real Estate
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 26 at 3:03PM
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 Madison Park Real Estate
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Investment Insights
Based on property information with market context.
This vacant duplex, built in 1907, offers 2,051 square feet across two residential floors. The first floor includes 3 bedrooms, 1 bathroom, and a kitchen. The second floor provides 2 bedrooms, 1 bathroom, and a living area with dining space. An additional bedroom is located in the attic. Updates include new appliances, hardwood flooring, tile, vinyl flooring, and interiors with abundant natural light.
The property is located at 860 Washington Ave in Albany’s Upper Washington area. Its two-floor configuration and vacant condition provide flexibility for continued two-family use or an owner-occupied arrangement, as supported by the existing layout.
The property is located at 860 Washington Ave in Albany’s Upper Washington area. Its two-floor configuration and vacant condition provide flexibility for continued two-family use or an owner-occupied arrangement, as supported by the existing layout.
Key Highlights
- 2,051‑square‑foot duplex built in 1907
- Two‑floor layout with 3‑bedroom and 2‑bedroom units
- First floor includes 3 bedrooms, 1 bathroom, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,357
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,140
$467.1K
Cap Rate 7%
$333,671
$333.7K
Cap Rate 9%
$259,522
$259.5K
Market Conditions
NOI Build-Up for 2,051 SF
Gross rent
$35.7K $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%
$467,140
Cap Rate 7%
$333,671
Cap Rate 9%
$259,522
Alternative Uses
Best Use
Multifamily LT 5
$333.7K
$292.0K – $389.3K
NOI $23,357 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,951 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
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 - Vacant two-family property with new appliances, refreshed finishes, and naturally bright interiors.
Where is this duplex located?
The property is located at 860 Washington Ave Albany, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,051‑square‑foot duplex built in 1907; Two‑floor layout with 3‑bedroom and 2‑bedroom units; First floor includes 3 bedrooms, 1 bathroom, and kitchen
