683 State Street, Albany, NY 12203 | MLS #202615320 | HUNT Real Estate
 
  • 73 days on site
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Open House Sun Jun 21 - Appointment Required! Please call host 518 698 7074 for an appointment. A rare find in Albany's Pine Hills: Updated two-unit property that works equally well as a primary home with income offset, or a turnkey cash-flowing investment. For the Home Buyer Live in one unit and let your tenant help pay your mortgage. The first-floor unit is rented - that income starts working for you on day one. Your unit has been fully renovated with vinyl plank flooring, a marble-look tiled bathroom with rainfall shower, recessed lighting, in-unit laundry, new windows, and modern finishes throughout. Move in and enjoy -- everything has already been done. Qualifies for FHA owner-occupied financing. For the Investor True turnkey -- no renovation risk, no capital expenditure queue. Both units feature spacious 3-bedroom layouts with the amenity combination renters actually want: off-street parking and in-unit laundry. Existing income in place with room to optimize rents. Projected pro forma cap rate of 10%+. Strong, durable rental demand from UAlbany students, healthcare workers, and state employees keeps vacancy risk low. The Location Pine Hills is one of Albany's most consistently occupied rental submarkets -- walkable, well-connected, and minutes from UAlbany, major healthcare campuses, state offices, dining, and transit. Agent is the Ownerr

Source: Global MLS, MLS#: 202615320

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  • Property Type
    Residential Income
  • Lot
    0.06 acres

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  • Median Age
    33
  • Population Density
    2,688
  • College Educated
    64%
  • Estimated Median Income
    $64,932
  • Estimated Total Home Owners
    6,458
  • Estimated Total Renters
    7,208
  • Owner / Renter Divide
    47% / 53%
  • Estimated Average Household Size
    2
  • Total Population
    30,837
  • Community data courtesy of LiveBy, Inc.

Owning this Home

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$ %
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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

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History

Date Event Value Agent
4/17/2026Source: Global MLS Added to Database
April 17, 2026
5/9/2025Source: Hudson Valley Catskill Regional MLS Added to Database
May 09, 2025
10/30/2023Source: Global MLS Added to Database
October 30, 2023
10/30/2023Source: Global MLS Added to Database
October 30, 2023