Updated Two-Family
For Sale
$384,900
92 N Allen St, Albany, NY 12203
Two kitchens, refreshed baths, and a finished attic expand the property’s flexible residential layout.
Property Size1,768 SF
Price / SF$217.70
Days on Market12
Property Features for 92 N Allen St
General Information
Standard status
Active
Size
1,768 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,491
Listing Agency:
Dimension Realty Solution LLC
(929) 453-8757
Listed By:
Mohammad A Afjol
(929) 453-8757
Source:
Exprealty
Added: Aug 9
Changed: Aug 17
Last Checked: Aug 19 at 1:04PM
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 Dimension Realty Solution LLC
Investment Insights
Based on property information with market context.
Located at 92 N Allen St in Albany’s Pine Hills neighborhood, this 1,768 SF duplex contains two separate living areas with an individual kitchen for each unit. Unit 2 includes access to a finished attic that adds usable living space. The interior updates include solid-surface flooring, newer appliances, and bathroom improvements.
Recent property work includes an updated electrical panel, electric meter, gas meter, and hot water tank completed in 2024. A washer and dryer were added in 2025, along with a concrete slab around the exterior. The property is near major roadways, shopping, restaurants, schools, and public transportation, including bus service. Its two-family configuration accommodates a range of ownership and occupancy arrangements supported by the existing layout.
Recent property work includes an updated electrical panel, electric meter, gas meter, and hot water tank completed in 2024. A washer and dryer were added in 2025, along with a concrete slab around the exterior. The property is near major roadways, shopping, restaurants, schools, and public transportation, including bus service. Its two-family configuration accommodates a range of ownership and occupancy arrangements supported by the existing layout.
Key Highlights
- 1,768 SF two‑family property at 92 N Allen St, Albany, NY
- Two separate living areas with two kitchens
- Finished attic accessed from Unit 2
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
$20,135
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
5.23%
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%
$402,700
$402.7K
Cap Rate 7%
$287,643
$287.6K
Cap Rate 9%
$223,722
$223.7K
Market Conditions
NOI Build-Up for 1,768 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
$30.8K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.8K $16.27/SF
− OpEx
−$8.6K −$4.88/SF
NOI
$20.1K $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%
$402,700
Cap Rate 7%
$287,643
Cap Rate 9%
$223,722
Alternative Uses
Best Use
Multifamily LT 5
$287.6K
$251.7K – $335.6K
NOI $20,135 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$258.0K
$225.8K – $301.0K
NOI $18,060 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$466.4K
$408.1K – $544.2K
NOI $32,651 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,041
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two kitchens, refreshed baths, and a finished attic expand the property’s flexible residential layout.
Where is this duplex located?
The property is located at 92 N Allen St Albany, NY.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: 1,768 SF two‑family property at 92 N Allen St, Albany, NY; Two separate living areas with two kitchens; Finished attic accessed from Unit 2
