About This Home

This 6-bedroom, 2-bathroom multi-family at 587 Washington Avenue in Albany, NY is listed for $315,000 ($129 per sqft). Built in 1920, the home offers 2,438 sqft of living space on a 0.08 acres lot.

Key Features

  • Built in 1920
  • 0.08 acre lot
  • 1 parking spaces

Property Details

2 full
1 space
1920

Amenities

Hardwood
Listing Description

Sunlight and beautiful hardwood floors highlight this ideally located, recently updated Albany duplex! Each spacious unit offers 3 bedrooms and 1 full bath, with separate tenant-paid utilities. Unit 1 is leased at $1,600 per month, providing immediate rental income, while beautifully updated Unit 2 is vacant and ready for an owner-occupant or new tenant, with estimated rental potential of $1,700 per month.

Together, the units offer projected annual gross rental income of $39,600. A brand-new sewer line extending to the city connection represents a significant investment already made by the seller. Public water and sewer, off-street parking, and convenient access to downtown Albany, colleges, hospitals, shopping, dining, and major commuter routes add to the appeal. An excellent opportunity for investors or owner-occupants looking to offset their mortgage with rental income!

Monthly Cost Estimate

$1,685/mo

20% down · 6.5% · 30 years

Principal$228
Interest$1,365
Insurance$92

Estimates only. Actual payments may vary.

Location

587 Washington Avenue

Albany, NY 12206

Property Details

Flooring

HardwoodTile - Ceramic

Construction

Aluminum Siding Vinyl Siding

Outdoor Features

Porch

Parking

DrivewayOff Street

Heating

Hot Water(Heating)BaseboardNatural Gas

Questions & Answers

This 6-bedroom, 2-bathroom multi-family at 587 Washington Avenue is listed at $315,000 ($129/sqft). The estimated monthly payment is $1,685 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1920, 0.08 acre lot, 1 parking spaces.

This property is listed by Lisa Patentreger.

LP

Lisa Patentreger

License 10401373194

Agent at Howard Hanna Real Estate Services

Listed by Howard Hanna Real Estate Services · Broker phone: (518) 348-7100 · View on Broker Site · Broker website

MLS# 202619937· Source: Global MLS, Inc.· 134 days on PropertySimple

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.

587 Washington Avenue, Albany, NY 12206

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