884-886 Lancaster Street, NY 12203

$437,000
8
BD
2
BA
2,940
SqFt
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List Price
$437,000
Price Change
▼ $13,000 1779486631
MLS#
202612518
Style
Traditional
Bedrooms
8
Bathrooms
2
Subdivision
Select One
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(518) 225-0454

Property Description

Located in Pine Hills, this 3,000 sq+ side by side duplex on a double-lot is a great opportunity for an investor or owner-occupant. Both units currently rented to stable tenants. Each unit has a kitchen, living room, and dining room on the first floor, 4 beds and 1 bath on the second floor. Large driveway provides off street parking for both units. Unit 1 is rented at $2,000/month and Unit 2 is rented at $2,050/month for total gross rent of $4,050/month ($48,600/year). Estimated operating expenses: taxes ($10,208/yr), insurance ($2,500/yr), and water/sewer ($700/yr), estimated total annual operating expenses of ~$13,408 and estimated NOI of ~$35,192/year (~$2,932.67/month). Estimated cap rate is ~7.6%.

(518) 225-0454
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Additional Information

Taxes
$10,466
Acres
0.15
School District
Albany
Heating
Radiant
Cooling
None
Exterior Features
None
Construction
Wood Siding
Roof
Rubber, Shingle
Parking
Driveway, Stone
Sewer
Public Sewer
Water
Public
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Listing courtesy of listing agent Ellen Evans with Gendron's Property Management Brokerage, 518-312-7116.

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