Updated Two-Family
New
For Sale
$469,900
88 Daytona Ave, Albany, NY 12203
Each residence includes two bedrooms, one bathroom, hardwood floors, storage, and access to shared laundry.
Property Size2,448 SF
Price / SF$191.95
Days on Market7
Property Features for 88 Daytona Ave
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,115
Amenities
central AC
laundry in basement
shared side-yard deck
large backyard
shed
ample off-street parking
hardwood floors
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Blue House Companies
(518) 598-4000
Listed By:
Peter Tryon · License #10491209962
(518) 598-4000
Source:
Exprealty
Added: Aug 10
Changed: Aug 15
Last Checked: Aug 15 at 8:45AM
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 Blue House Companies
Investment Insights
Based on property information with market context.
Located at 88 Daytona Ave, this duplex contains two residences, each with two bedrooms, one bathroom, hardwood flooring, and generous storage. The property was built in 1968 and has been updated with vinyl siding, windows, furnaces, central AC, and a newer roof. Laundry facilities are provided in the basement for both units.
A basement bonus area adds flexible space, while the exterior includes a shared side-yard deck, a shed, a large backyard, and ample off-street parking. The property is positioned minutes from Buckingham Pond, SUNY Albany, the State Campus, and major highways, supporting convenient access to nearby destinations and commuting routes.
A basement bonus area adds flexible space, while the exterior includes a shared side-yard deck, a shed, a large backyard, and ample off-street parking. The property is positioned minutes from Buckingham Pond, SUNY Albany, the State Campus, and major highways, supporting convenient access to nearby destinations and commuting routes.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Built in 1968 with new vinyl siding, new windows, new furnaces, central AC, and a newer roof
- Basement laundry serves both units
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
$27,879
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
5.93%
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%
$557,580
$557.6K
Cap Rate 7%
$398,271
$398.3K
Cap Rate 9%
$309,767
$309.8K
Market Conditions
NOI Build-Up for 2,448 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
$42.6K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$39.8K $16.27/SF
− OpEx
−$11.9K −$4.88/SF
NOI
$27.9K $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 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%
$557,580
Cap Rate 7%
$398,271
Cap Rate 9%
$309,767
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.5K – $464.7K
NOI $27,879 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$357.2K
$312.6K – $416.8K
NOI $25,006 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$645.9K
$565.1K – $753.5K
NOI $45,210 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
334
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
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 - Each residence includes two bedrooms, one bathroom, hardwood floors, storage, and access to shared laundry.
Where is this duplex located?
The property is located at 88 Daytona Ave Albany, NY.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; Built in 1968 with new vinyl siding, new windows, new furnaces, central AC, and a newer roof; Basement laundry serves both units
