Rented Multifamily Property on
For Sale
$1,299,000
Pending
1300 S Schodack Road, Castleton on Hudson, NY 12033
MULTI_FAMILY - Ranch - Castleton On Hudson, NY
Property Size7,608 SF
Lot Size1.02 Acres
Days on Market145
Property Features for 1300 S Schodack Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Multi Residence
Bedrooms
17
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 16, Bedroom 5, Bedroom 8, Bedroom 11, Bedroom 12, Bathroom 10, Bathroom 6, Bedroom 6, Bedroom 7, Bathroom 8, Bedroom 4, Bathroom 9, Bathroom 3, Bedroom 13, Bedroom 17, Bedroom 2, Bathroom 5, Bedroom 9, Bathroom 4, Bathroom 7, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 14, Bedroom 3, Bedroom 10, Bedroom 15
Parking
15
Parking features
Off Street
Window features
Double Pane Windows
Patio and Porch features
Porch, Deck
Interior features
Paddle Fan, High Speed Internet, Walk-In Closet(s)
Basement
Unfinished, Partial
Lot features
Road Frontage, Cleared
High school
Maple Hill HS
Elementary school district
Schodack
Middle school district
Schodack
High school district
Schodack
Directions
Route 9 to Schodack Landing Road, slight right to S. Schodck Road. Go about 3 miles. Property is on the corner of Van Hoesen Rd. There are 3 buildings included.
Standard status
Pending
APN
384489 209.-10-6.2
Size
7,608 SF
Lot size
1.02 Acres
Taxes and HOA fees
Tax Annual Amount
13346
Utilities
Utilities
Cable Available
Sewer type
Shared Septic
Heating system
Forced Air, Electric (Heating), Baseboard, Natural Gas
Water source
Well
Building Details
Year built
1840
Number of units
10
Flooring type
Carpet, Vinyl, Laminate
Building materials
Stone, Block, Drywall, Vinyl Siding, Wood Siding
Roof type
Shingle, Asphalt
Architectural style
Ranch
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 758-1300
Listed By:
Karen R Westman · License #30WE1064299
(518) 366-7788
Added: Mar 25
Changed: Jul 24
Last Checked: Aug 16 at 4:06PM
MLS# 202613972
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.
Investment Insights
Based on property information with market context.
This multifamily property features three buildings with a total of 10 units situated on a 1.02-acre parcel. The property generates a gross annual income of $150,000, with all units currently rented. The original 1840 farmhouse, comprising four units (three 1-bedroom and one 2-bedroom), has undergone significant renovations, including a new roof, siding, double-pane insulated windows, and soffit and sill work. Interior improvements include fresh paint, updated kitchens and baths, and vinyl flooring in two units. Each unit has separate electricity, gas, and hot water. The side-by-side duplex features a new roof, double-pane windows, and rear decks. Each of the duplex units has 2 bedrooms, large living rooms, good-sized kitchens, and ample closet space. Interior upgrades include fresh paint, updated kitchens and baths, and new vinyl flooring. These units also have separate electricity, gas, and hot water. The ranch-style building contains four identical units, each with 2 bedrooms, large closets, sliding glass doors to the yard, and locked outside storage rooms. Two of these units have been freshly painted with new flooring and kitchen and bath improvements. These units also have separate electricity and gas. All 10 units are equipped with two heat sources: natural gas hot air wall-mounted units and electric baseboards. A coin-operated laundry room is available on-site. The property provides ample off-street parking and green space. It is located near farmland, approximately 10 minutes from East Greenbush or Kinderhook and 15 minutes from Rensselaer and downtown Albany, in the Schodack school district.
Key Highlights
- 10‑unit multi‑family property across 3 buildings on a 1‑acre parcel
- Reported gross annual income of $150,000 with all units fully rented
- Original 1840 farmhouse with updates including new roof, new siding, and double‑pane insulated windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,347
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,846,940
$1.8M
Cap Rate 7%
$1,319,243
$1.3M
Cap Rate 9%
$1,026,078
$1.0M
Market Conditions
NOI Build-Up for 7,608 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$177.1K $23.28/SF
− Vacancy
−$9.2K −$1.21/SF
EGI
$167.9K $22.07/SF
− OpEx
−$75.6K −$9.93/SF
NOI
$92.3K $12.14/SF
Area
Rensselaer County, NY
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,846,940
Cap Rate 7%
$1,319,243
Cap Rate 9%
$1,026,078
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,347 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,131 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 12033, NY
8,076
Population
3,843
Households
2.1
Avg Household Size
46
Median Age
35%
College-Educated
93%
High-School Grad
28.5 sq mi
ZIP Area
283
Density / Sq Mi
$92,808
Median Household Income
$55,875
Median Earnings
$1,380
Median Rent
$267,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Ten-unit multifamily property with recent renovations and income potential.
Where is this apartment building located?
The property is located at 1300 S Schodack Road Castleton on Hudson, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 10‑unit multi‑family property across 3 buildings on a 1‑acre parcel; Reported gross annual income of $150,000 with all units fully rented; Original 1840 farmhouse with updates including new roof, new siding, and double‑pane insulated windows
