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Albany 12205
3 Iris Lane
$333,000
● House - Off Market

3 Iris Lane

Colonie, NY 12205
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,522 Ft²
$1,773
Est. Monthly
8.80%
Cap Rate

About This Property

Welcome to 3 Iris Lane! This delightful brick Cape Cod home features a practical layout with 4 bedrooms-2 on each level, each accompanied by a full bathroom. Sunlight brightens up the home, highlighting a spacious living room and an eat-in kitchen that offers a view of the large backyard space. 3 Iris Lane has received meticulous care and love over the years, and it's now ready for your personal touch. And guess what - There are beautiful hardwood floors under the carpeting just waiting for their big reveal! Only steps away from Sand Creek Middle & South Colonie High School, and perfectly situated in the midst of the Capital District buzz.  Your future home awaits you at 3 Iris Lane. Welcome Home!
Unit Size
1,522 Ft²
Days on Market
30 days
Land Size
0.39 acres
Price per sqft
$197
Property Type
House
Property Taxes
$300
HOA Dues
-
Year Built
1956

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 6 months ago (Global MLS #202410681)

Price History

Date / Event Date Event Price
Feb 23, 2024 Sold
Premium
Sold
Jan 23, 2024 In contract -
In contract
Jan 17, 2024 Listed by KW Platform $300,000
Listed by KW Platform

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1956
  • Effective Year Built: 1956
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 4
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 150
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 442
  • Parking Space Count: 2
  • Patio Type: 20
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 16,988
  • Total Building Area: 1,522
  • Building Area: 1,522
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,522
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000390
  • Standard Land Use Code: 1001
  • County Land Use Code: 210
  • Legal Description 1: N-4 E-1 S-106-54

Neighborhood

  • School District Name: South Colonie Central School District
  • School Tax School District: SOUTH COLONIE
  • Census Tract: 014001

Zoning

  • Zoning: 04 - FARM

Geography

  • Account Number: 04201500010530000000
  • District: 012689
  • Section: 42.15
  • Parcel: 012689 42.15-1-53
  • Block: 1
  • Lot: 53.000
  • Municipality: COLONIE (TOV)
  • Latitude: 42.7057
  • Longitude: -73.8025

    Address

  • Full Address: 3 Iris Ln
  • Address - House Number: 3
  • Address - Street Name: Iris
  • Address - Suffix Type: Ln
  • State: NY
  • City Name: Albany
  • Carrier Code: C025
  • 4-Digit Zip Code: 2946
  • Zip Code: 12205

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $467,508
  • Tax Rate Code Area: 012601

    Appraisal Valuation

  • Standard Deviation: 0.1099
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 88
  • Final Value: 303,554
  • High Value: 336,935
  • Low Value: 270,173

    Market Valuation

  • Market Total Value: $216,700
  • Market Land Value: $54,126
  • Market Improvement Value: $162,574

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $110,500
  • Assessed Land Value: $27,600
  • Assessed Improvements Value: $82,900

    Exemptions

  • Veteran Exemption: Yes
  • Senior Citizen Exemption : Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 16, 2024
  • Current Sale Recording Date: Feb 23, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 3126
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Albany

Stats & Trends

Median Asking:

$329,900

Sale Price/ft²

$208

Below Asking

0.01%

Average Days on Market

64

Average Home Size

2273 ft²

Average Home Age

91.4 years

Currently For Sale

537 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 13 Southgate Road, Loudonville, NY, 12211

$2,800 /mo

  • 4 Beds
  • 1 Bath
  • 1,400 ft²
13 Southgate Road, Loudonville, NY, 12211 Listing by Linda Yetto

Rentals Near You

Click here to view more rentals in the neighborhood.
Global MLS

Listed by: Melissa Mitchell
KW Platform
Last Updated: 6 months ago
Data Source: Global MLS , MLS# 202410681
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 3 Iris Lane built and last sold?
The property at 3 Iris Lane was built in 1956 and last sold on Feb 16, 2024 for $333,000.
How much is this home worth?
The estimated value of the home located at 3 Iris Lane is $0.
What are some comparable homes to 3 Iris Lane?
There are currently no comparable homes to 3 Iris Lane.
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