Fully Occupied Duplex with Mirrored
For Sale
$299,000
88 Woodlawn Avenue, Albany, NY 12208
Duplex offers mirrored 3-bedroom, 1-bath units, both on month-to-month tenancies.
Property Size2,228 SF
Price / SF$134.20
Days on Market112
Property Features for 88 Woodlawn Avenue
General Information
Standard status
Active
Size
2,228 SF
Property subtype
Multi-family
Building Details
Year Built
1933
Listing Agency:
New Scotland Realty
Listed By:
Samantha M Curry
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Apr 11
Changed: Jul 25
Last Checked: Jul 30 at 5:52PM
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 New Scotland Realty
Investment Insights
Based on property information with market context.
This fully occupied duplex includes mirrored 3-bedroom, 1-bath layouts in each unit, designed to provide consistent living space across both floors. Both tenancies are month-to-month, with the upstairs unit currently rented for $1,550 and the downstairs unit rented for $1,500.
The property is located in Albany’s Pine Hills area, adjacent to Helderberg. It is described as within a short walk of Albany Medical Center and St. Peter’s Hospital, and near New Scotland Avenue.
As presented, the building is configured as two separate residential units with comparable dimensions and bedrooms/bathroom counts, supporting straightforward tenant management under month-to-month terms.
The property is located in Albany’s Pine Hills area, adjacent to Helderberg. It is described as within a short walk of Albany Medical Center and St. Peter’s Hospital, and near New Scotland Avenue.
As presented, the building is configured as two separate residential units with comparable dimensions and bedrooms/bathroom counts, supporting straightforward tenant management under month-to-month terms.
Key Highlights
- Fully occupied duplex built in 1933 with mirrored 3BD/1BA layouts in each unit
- Both units are month‑to‑month (MTM) tenancies
- Upstairs unit is rented for $1,550 and downstairs unit is rented for $1,500
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $17.40 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $36.2k | $16.27 |
| − OpEx | −$10.9k | −$4.88 |
| NOI | $25.4k | $11.39 |
2,228 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,373 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$325.1K
$284.5K – $379.3K
NOI $22,759 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$587.8K
$514.3K – $685.8K
NOI $41,147 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
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 - Duplex offers mirrored 3-bedroom, 1-bath units, both on month-to-month tenancies.
Where is this duplex located?
The property is located at 88 Woodlawn Avenue Albany, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Fully occupied duplex built in 1933 with mirrored 3BD/1BA layouts in each unit; Both units are month‑to‑month (MTM) tenancies; Upstairs unit is rented for $1,550 and downstairs unit is rented for $1,500
