Two-Unit Duplex with
For Sale
$269,900
945 Myrtle Avenue, Albany, NY 12208
Separate living areas and kitchens serve each residence, with two bedrooms in one unit and one in the other.
Property Size1,296 SF
Price / SF$208.26
Days on Market8
Property Features for 945 Myrtle Avenue
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
covered front porch
back patio
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Kellie Kieley Realty LLC
Listed By:
Lisa Simeone · License #10301208736
(518) 423-1543
Source:
Signatureonerealtygroup
Added: Oct 23
Changed: Oct 29
Last Checked: Oct 28 at 8:36AM
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 Kellie Kieley Realty LLC
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Investment Insights
Based on property information with market context.
This 1,296-square-foot legal two-family property has two distinct residences. The first includes two bedrooms, a full bath, an updated kitchen, and a formal dining room connected to the living room by archways. The second offers one bedroom, an updated full bath, a working kitchen, and a spacious living room. Hardwood floors, high ceilings, abundant windows, and radiator heat are additional interior features.
Outdoor features include a covered front porch, rear patio, spacious driveway, and a two-car garage. Restaurants, pubs, grocery stores, a gas station, a bus line, Ridgefield Park, and Buckingham Lake are nearby.
Outdoor features include a covered front porch, rear patio, spacious driveway, and a two-car garage. Restaurants, pubs, grocery stores, a gas station, a bus line, Ridgefield Park, and Buckingham Lake are nearby.
Key Highlights
- Legal two‑family property with 1,296 square feet
- Two‑bedroom residence with updated kitchen, full bath, and formal dining room
- Second unit has one bedroom, updated full bath, kitchen, and living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,759
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,180
$295.2K
Cap Rate 7%
$210,843
$210.8K
Cap Rate 9%
$163,989
$164.0K
Market Conditions
NOI Build-Up for 1,296 SF
Gross rent
$22.6K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$21.1K $16.27/SF
− OpEx
−$6.3K −$4.88/SF
NOI
$14.8K $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%
$295,180
Cap Rate 7%
$210,843
Cap Rate 9%
$163,989
Alternative Uses
Best Use
Multifamily LT 5
$210.8K
$184.5K – $246.0K
NOI $14,759 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$189.1K
$165.5K – $220.6K
NOI $13,238 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$341.9K
$299.2K – $398.9K
NOI $23,935 @ 7.0% cap · market cap 8.87%
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
628
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate living areas and kitchens serve each residence, with two bedrooms in one unit and one in the other.
Where is this duplex located?
The property is located at 945 Myrtle Avenue Albany, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Legal two‑family property with 1,296 square feet; Two‑bedroom residence with updated kitchen, full bath, and formal dining room; Second unit has one bedroom, updated full bath, kitchen, and living room
