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APPROVED FOR FUNDING FROM OFFERMARKET CAPITAL - GET INSTANT LOAN QUOTE AND PRE APPROVAL
(GREAT BUY AND HOLD MESSAGE FOR VIDEOS OF THE PROPERTY OUTSIDE HAS RECENETLY BEEN REMODLED)
275 2nd Avenue, Albany, NY, 12209
Property Information:
3 Units / 8 Bedrooms / 3 Bathrooms
3,600 Living SqFt
Estimated 3,000–4,000 SqFt Lot
Built in 1870
Legal Triplex
Fully Bricked Exterior (Recently Renovated to Meet County Requirements)
Vacant
Needs Interior Renovation
Located Near University at Albany (12-minute drive)
Strong Rental Demand: $1,900/mo per floor
Buying Information:
Asking Price: $210,000 (Cash or Hard Money)
$5,000 Non-Refundable EMD
Proof of Funds Required
Closing Date: Flexible (Quick Close Preferred)
Buyer Pays Closing Costs (Estimated ~5%, approx. $10,500)
Escrow to be held with buyer’s preferred attorney or title company
Sold Comps:
167 2nd Avenue, Albany, NY 12202 – 8/3 – Sold $370,000
184 S Swan Street, Albany, NY 12202 – 8/3 – Sold $417,000
15 Delaware Street, Albany, NY 12202 – 8/3 – Sold $395,000
Financial Performance (Buy & Hold):
Item Amount
Gross Rent (Monthly) $1,900 × 3 = $5,700
Gross Rent (Annual) $68,400
Expenses (Est. 30%) ~$20,520
Net Operating Income $47,880
Total All-In Cost ~$436,000 (purchase + rehab + closing)
Cap Rate ~11%
Key Points:
Cap Rate: 11% = Strong cash-flowing asset
63% of Albany residents rent – stable rental market
Fully bricked exterior already done – lowers capex risk
Located near University at Albany & Empire State Plaza (government job hub)
High rentability with 3 legal units and large layouts
Interior video walk-through available on request
What’s Required to Proceed:
$5,000 Non-Refundable Earnest Money Deposit
Proof of Funds
Serious buyers only — cash or hard money preferred
Resources:
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