39 Exchange Street
Albany, NY, 12205 $ 275,000
Bedrooms2 Baths1.0 Sq 1,200 Monthly Estimate*
$ 1,693
for $275,000 with 2 bedrooms and 1 full bath. This 1,200 square foot home was built in 1880 on a lot size of 0.19.
Investor's Dream: Low-stress management, high-demand updates, and strong, verifiable cash flow make this property a mandatory addition to any serious portfolio. Don't miss this rare chance to acquire a true turnkey asset!------ Unlock immediate cash flow with this exceptional, low-maintenance investment opportunity! This meticulously updated single-family residence is primed for passive income and positioned for long-term appreciation, offering two distinct income streams and a compelling proforma (see attached). --------- Dual Income Advantage: Generating $3,200/month in gross income from two separate, secure leases. House Lease: $1,700/month, secured until July 31, 2026. Garage Lease: $1,500/month, secured until December 31, 2025 --------- Tenant-Occupied & Rented: Immediate rental income from day one. --------------- Fully Updated & Modernized: Minimizes near-term capital expenditures. The house features a desirable open-concept layout, premium granite countertops, new flooring/carpet, updated laundry facilities, and a brand-new Sub-Zero Mini-Split heating/cooling system for efficiency and tenant comfort. Premium Detached Asset: The oversized 3-Car Heated Garage is a unique, high-demand feature in the rental market, commanding a premium lease rate and attracting a professional/commercial tenant base (contractor, storage, hobbyist, etc.). ------- THE NUMBERS SPEAK FOR THEMSELVES! Review the attached Proforma Sheet for detailed income, expense, and projected cap rate analysis.
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FeaturesGeneralSewer Public Sewer
Heating Ductless
Cooling Ductless
Appliances Electric Oven Electric Water Heater Washer/Dryer
Garage Spaces 3.0
Architectural Style Old Style
Construction Materials Vinyl Siding
Year Built 1880
Property Subtype Single Family Residence
County Albany
New Construction N
Property Type Residential
HOA N
Attached Garage N
Garage Y/N N
Other Structures Shed(s) Garage(s)
Total Rooms 6
Full Baths 1
Status Active
Directions route 90 to exit 5 Everett Road take a right on to Exchange street house is on the left.
High School Colonie Central HS
City Colonie
High School District South Colonie
Lot Size Units Acres
Lot Size Square Feet 8276.4
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 3713.62
Home Warranty Y/N N
Property Condition Updated/Remodeled
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Tax Assessed Value 0
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InteriorBasement Slab
Flooring Wood Carpet
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Above Grade Finished Area 1200.0
Half Baths 0
Laundry Features Laundry Room Main Level
Total Bedrooms 2
Below Grade Finished Area 0.0
Below Grade Finished Area Source Appraiser
Above Grade Finished Area Source Appraiser
Total Baths 1
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ExteriorExterior Amenities None
Parking Features Paved Detached Driveway Heated Garage
Water Source Public
Total Parking 4.0
Lot Size Area 0.19
Spa N
Lot Size Acres 0.19
Waterfront Y/N N
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByDKelly@FindRealEstate.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $1,693
- Monthly Property Taxes
- $309
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Albany, NY
Average List Price $288,124
Percent of Sale Price 5%
About Albany, NY 99,338 Population
4% Since 2002
$ 44,478 Median Income
33.63 Median Age
18% Households with Children
Trends Information provided by ATTOM Data Solutions.
853309 Elementary School
853186 Middle School
Colonie Central HS High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/8/2025 | $275,000 | | Listed Price |