Two-Unit Duplex with Laundry
For Sale
$229,900
Pending
17 Frank Street, Schenectady, NY 12304
MULTI_FAMILY - Other - Schenectady, NY
Property Size1,659 SF
Lot Size0.09 Acres
Days on Market50
Property Features for 17 Frank Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Laundry Room
Parking
1
Parking features
Off Street
Fencing
Privacy
Basement
Full
Lot features
Level
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
90 to 890 to Exit 9 (Curry Rd) Right on Exit 7, left on Albany Street, right on Frank St, house is on your left.
Standard status
Pending
APN
421500 49.76-4-25
Size
1,659 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4561
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Hardwood, Vinyl, Laminate
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 439-9600
Listed By:
Mary Bintz · License #10401287760
(518) 428-7177
Added: Jul 9
Changed: Jul 24
Last Checked: Aug 27 at 8:06AM
MLS# 202621414
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 two-unit duplex is set up for either investor ownership or owner-occupancy. The first-floor apartment includes two large bedrooms, a living room, a dining room, a full bathroom, and a laundry room/pantry with washer and dryer hookup. The second-floor apartment is accessed through the back and features one bedroom, a living room, a dining area, a full bathroom, and a laundry room/pantry with washer and dryer hookup. Updates noted include a recently replaced second-floor boiler and recently replaced hot water tanks, along with new flooring in both apartments. A nice-sized backyard adds outdoor space for occupants.
Located in Schenectady, the property is described as having convenient access to shopping and highways, supporting everyday commutes and errands.
For tenants or buyers, the unit mix provides a practical layout with separate living areas and dedicated laundry hookup spaces. The recent mechanical and interior updates may reduce near-term maintenance considerations, and the listing notes that current rent is below market. With the second unit’s back access, the building also supports straightforward separation between the two apartments.
Located in Schenectady, the property is described as having convenient access to shopping and highways, supporting everyday commutes and errands.
For tenants or buyers, the unit mix provides a practical layout with separate living areas and dedicated laundry hookup spaces. The recent mechanical and interior updates may reduce near-term maintenance considerations, and the listing notes that current rent is below market. With the second unit’s back access, the building also supports straightforward separation between the two apartments.
Key Highlights
- Two‑family home built in 1910 with vinyl siding and asphalt roof
- Each unit includes a laundry room/pantry with washer/dryer hookup
- 2nd floor boiler and both hot water tanks recently replaced
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
$18,893
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
8.22%
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%
$377,860
$377.9K
Cap Rate 7%
$269,900
$269.9K
Cap Rate 9%
$209,922
$209.9K
Market Conditions
NOI Build-Up for 1,659 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
$28.9K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.0K $16.27/SF
− OpEx
−$8.1K −$4.88/SF
NOI
$18.9K $11.39/SF
Area
Schenectady County, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$377,860
Cap Rate 7%
$269,900
Cap Rate 9%
$209,922
Alternative Uses
Best Use
Multifamily LT 5
$269.9K
$236.2K – $314.9K
NOI $18,893 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,946 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$496.6K
$434.5K – $579.3K
NOI $34,759 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offers two separate apartments with in-unit laundry hookups, recently replaced boiler and hot water tanks, plus a backyard.
Where is this duplex located?
The property is located at 17 Frank Street Schenectady, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two‑family home built in 1910 with vinyl siding and asphalt roof; Each unit includes a laundry room/pantry with washer/dryer hookup; 2nd floor boiler and both hot water tanks recently replaced
