275 Second Ave

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(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:

• The listing price is based on our Cash Offer Calculator.
• Run this scenario through our DSCR Calculator.
• Run this scenario through our Fix and Flip Calculator.

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