Multifamily Income
97 3rd Avenue Albany, NY 12202
New
For Sale
$250,000
MULTI_FAMILY - Albany, NY
Property Size1,540 SF
Lot Size0.12 Acres
Price / SF$162.34
Days on Market5
Property Features for 97 3rd Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- Multi Residence
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1
- Basement
- Full
- Standard status
- Active
- APN
- 010100 76.64-2-65
- Size
- 1,540 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1480
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Vinyl Siding
Listing Agency:
Revision Real Estate
(518) 438-2221
Listed By:
Jerome P Newkirk · License #10371200504
(518) 229-0366
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 25 at 12:06AM
MLS# 202622293
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Offered for sale, this income-producing multifamily property is identified as a duplex/multifamily residential income opportunity with paying tenants already in place. The listing states that rental payments are already being collected, and ROPs are in place. The property is sized at 1,540 square feet on a 0.12-acre lot and is zoned for Multi Residence.
Located at 97 3rd Avenue in Albany’s South End, the property is described as providing convenient access to downtown Albany and several major local destinations, including the Empire State Plaza and Albany Medical Center. Additional nearby references in the listing include Albany Law School, Albany Capital Center, the Port of Albany, and the Albany-Rensselaer Amtrak Station. The remarks also note access to shopping, restaurants, parks, schools, and major roadways including I-787 and the New York State Thruway.
Interested buyers are encouraged to verify all information and conduct their own due diligence.
Located at 97 3rd Avenue in Albany’s South End, the property is described as providing convenient access to downtown Albany and several major local destinations, including the Empire State Plaza and Albany Medical Center. Additional nearby references in the listing include Albany Law School, Albany Capital Center, the Port of Albany, and the Albany-Rensselaer Amtrak Station. The remarks also note access to shopping, restaurants, parks, schools, and major roadways including I-787 and the New York State Thruway.
Interested buyers are encouraged to verify all information and conduct their own due diligence.
Key Highlights
- Income‑producing property with paying tenants already in place for immediate rental income
- Sewer: public sewer
- Heating: natural gas
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 | $26.8k | $17.40 |
| − Vacancy | −$1.7k | −$1.13 |
| EGI | $25.1k | $16.27 |
| − OpEx | −$7.5k | −$4.88 |
| NOI | $17.5k | $11.39 |
1,540 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,538 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,731 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$406.3K
$355.5K – $474.0K
NOI $28,441 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Income-producing multifamily property with paying tenants already in place, offered for sale in Albany, NY.
Where is this duplex located?
The property is located at 97 3rd Avenue Albany, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Income‑producing property with paying tenants already in place for immediate rental income; Sewer: public sewer; Heating: natural gas
