Albany, NY 12203 · Albany County

This 1931 duplex in Albany's Melrose neighborhood comprises a spacious first-floor unit with three bedrooms, two baths, hardwood floors, and a flexible third bedroom with its own entrance and kitchenette, plus a second-floor two-bedroom, one-bath unit. Both units are currently leased through November, with the first floor available October 1, offering an owner-occupant the option to reside in one unit while collecting rental income or continue operating as an investment property. Recent updates include a roof, boilers, and water heaters all approximately five years old, and a rear Trex deck. Albany, New York's capital, combines historic neighborhoods with a vibrant restaurant scene, museums, and convenient access to the Adirondacks.
Spacious two-family duplex in the convenient Melrose neighborhood, offering flexibility for an owner-occupant or investor. Live in one unit while generating rental income from the other, or continue renting both units as an income-producing multifamily property. The spacious first-floor unit features 3 bedrooms, 2 full baths, an open floor plan, large kitchen and dining room, and hardwood floors. The private third bedroom offers its own full bathroom, kitchenette, and both interior and exterior entrances, providing flexible space for a bedroom, home office, guest room, or bonus room. The well-maintained second-floor unit features 2 bedrooms, 1 full bath, and a small office/flex space. Both units are currently leased through November 30. The first-floor tenant is expected to vacate early, with the unit anticipated to be available October 1. This provides a new owner with flexibility to occupy the first floor, continue renting both units, and purchase as an investment. Recent improvements include a roof approximately 10 years old, boilers approximately 5 years old, and hot water heaters approximately 5 years old. Enjoy outdoor space with a Trex deck off the rear of the home. Renewed ROPs were issued in August. A versatile two-family property offering rental income, separate living spaces, and flexibility for an owner-occupied multifamily or investment property.
The price signals we can read on this listing today. For a true sense of value against recent Albany sales, Sharon will pull the comparable closings and walk you through them.
Curious whether this home is priced right for the neighborhood?
Ask Sharon for the comps36 facts pulled straight from the MLS listing.
The price signals we can read on this listing today. For a true sense of value against recent Albany sales, Sharon will pull the comparable closings and walk you through them.
Curious whether this home is priced right for the neighborhood?
Ask Sharon for the compsTax estimated at the Albany County rate. Insurance and PMI are estimates. Sharon can connect you with a lender for real numbers.
Get pre-approved →Google Maps view. Pan, zoom, click a pin to read about a business or place.
Plan a multi-stop route from this address: drop-off the kid, hit the office, head home. Live traffic from Google.
Try a preset
The district this address is assigned to. Ratings and reviews are hosted on GreatSchools.
Assigned districts can change and are not guaranteed. Confirm enrollment boundaries with the district directly before relying on them.
Albany is in Albany County, NY. There are currently 275 active listings here, ranging from $12,500 to $10,899,000. Listings in this address fall under the Albany school district. Priced 9% above the Albany median of $320,000.
See Sharon's Albany community guideWho holds this listing, and where the data comes from.
Sharon represents buyers for this property. Your tour, offer, and inquiries go through her, not the listing brokerage.
Empire Real Estate Firm LLC · Listed by Jill Greaux (32148)
Contact: 518-878-6343
MLS #202626341 · Source: Global MLS, Inc.
IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Sharon Fronk Real Estate is committed to compliance with the Fair Housing Act and provides equal opportunity in housing.
Real numbers from current MLS data. Not a third-party estimate.





Activity across 2 MLS listings of this property.
Public assessment record for the Albany roll · Albany school district · Two Family Year-Round Residence
| Year | Assessed value | Full market value | Change |
|---|---|---|---|
| 2025 | $305,000 | $317,708 | +4.2% |
| 2024 | $305,000 | $305,000 | +8.6% |
| 2023 | $199,000 | $280,954 | +12.6% |
| 2022 | $199,000 | $249,624 | +12.3% |
| 2021 | $199,000 | $222,346 |
Assessed and full market values come from the local assessor and lag the market; the tax bill is the assessed value times the town, county and school rates, which the seller’s disclosure will show. STAR and other exemptions are not reflected here.
Outside FEMA-mapped flood hazard areas
This point is not inside any Special Flood Hazard Area or moderate-risk zone on the current FEMA flood map. Flood insurance is optional here and usually inexpensive.
See the official FEMA flood map for this pointSource: FEMA National Flood Hazard Layer, checked 2026-09-17. Zones are drawn by FEMA and can change; an elevation certificate governs insurance.