Two-Unit Duplex with
New
For Sale
$369,000
87 Eileen St, Albany, NY 12203
The first-floor apartment has an updated kitchen and bathroom; both residences offer two bedrooms and formal dining rooms.
Property Size2,362 SF
Price / SF$156.22
Days on Market2
Property Features for 87 Eileen St
General Information
Standard status
Active
Size
2,362 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
basement laundry hookups
semi-private backyard
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Renovo Real Estate LLC
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Oct 30
Last Checked: Oct 30 at 1:29PM
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 Renovo Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,362-square-foot duplex, built in 1925, contains two apartments with two bedrooms, a living room, formal dining room, kitchen, breakfast nook and full bathroom in each. The first-floor unit has an updated kitchen and bathroom, with hardwood and tile flooring. The upper apartment has hardwood flooring beneath carpet, plus tile in the kitchen and bathroom. Building features include gas hot water heating, gas water heaters, basement laundry hookups and a one-car garage, along with a semi-private backyard.
The property is near Route 85 and the New York State Office Campus. It is being sold as-is, and inspections are for informational purposes only. No Residential Occupancy Permits are available. Asbestos-containing insulation is present on basement piping and is described as intact, with no loose or frayed material visible.
The property is near Route 85 and the New York State Office Campus. It is being sold as-is, and inspections are for informational purposes only. No Residential Occupancy Permits are available. Asbestos-containing insulation is present on basement piping and is described as intact, with no loose or frayed material visible.
Key Highlights
- Two apartments, each with two bedrooms, a living room, formal dining room, kitchen, breakfast nook and full bathroom
- 2,362 square feet; built in 1925
- First‑floor apartment has updated kitchen and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,899
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,980
$538.0K
Cap Rate 7%
$384,271
$384.3K
Cap Rate 9%
$298,878
$298.9K
Market Conditions
NOI Build-Up for 2,362 SF
Gross rent
$41.1K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$38.4K $16.27/SF
− OpEx
−$11.5K −$4.88/SF
NOI
$26.9K $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%
$537,980
Cap Rate 7%
$384,271
Cap Rate 9%
$298,878
Alternative Uses
Best Use
Multifamily LT 5
$384.3K
$336.2K – $448.3K
NOI $26,899 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.1K
NOI $24,127 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$623.2K
$545.3K – $727.0K
NOI $43,621 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The first-floor apartment has an updated kitchen and bathroom; both residences offer two bedrooms and formal dining rooms.
Where is this duplex located?
The property is located at 87 Eileen St Albany, NY.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms, a living room, formal dining room, kitchen, breakfast nook and full bathroom; 2,362 square feet; built in 1925; First‑floor apartment has updated kitchen and bathroom
