Updated Duplex with
For Sale
$359,000
Pending
191 Princetown Road, Schenectady, NY 12306
MultiFamily, Schenectady, NY
Property Size1,695 SF
Lot Size0.32 Acres
Days on Market26
Property Features for 191 Princetown Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3
Parking
6
Parking features
Off Street, Driveway, Garage
Patio and Porch features
Porch
Interior features
Solid Surface Counters, Paddle Fan, Built-in Features
Basement
Interior Entry, Full
Lot features
Level, Cleared, Corner Lot
Elementary school
Jefferson ES
Elementary school district
Schalmont
Middle school district
Schalmont
High school district
Schalmont
Directions
From 5 Corners take Princetown Rd to the corner of Princetown Rd and Ford St.
Standard status
Pending
APN
422800 48.14-4-1.1
Size
1,695 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
5098
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Natural Gas, Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
2
Flooring type
Tile - Ceramic, Hardwood, Laminate, Wood
Building materials
Clapboard, Wood Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Dominick Ieraci · License #30IE0802009
(518) 339-0052
Added: Aug 6
Changed: Aug 26
Last Checked: Aug 31 at 7:06AM
MLS# 202623364
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.
Built in 1930, this 1,695-square-foot duplex occupies a 0.32-acre corner parcel in Schenectady. The first-floor residence includes three bedrooms, oak hardwood flooring, a front porch, and basement access with finished storage space. The upper apartment has updated flooring, new paint, a renovated kitchen with new appliances, an included washer and dryer, and a new bathroom with a tub and surround. Separate utilities serve each unit.
The property provides three driveway entrances, off-street parking, and a garage. Public water and septic service support the building, which also features natural-gas hot-water baseboard heat and window-unit cooling. The home is in the Schalmont School District and is near shopping, restaurants, schools, and major highways.
The property provides three driveway entrances, off-street parking, and a garage. Public water and septic service support the building, which also features natural-gas hot-water baseboard heat and window-unit cooling. The home is in the Schalmont School District and is near shopping, restaurants, schools, and major highways.
Key Highlights
- 1,695‑square‑foot duplex on a 0.32‑acre corner lot
- First‑floor unit offers 3 bedrooms, oak hardwood floors, front porch, and finished basement storage
- Upper apartment includes updated flooring, fresh paint, new appliances, washer and dryer, and a new bathroom
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
$19,303
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
5.38%
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%
$386,060
$386.1K
Cap Rate 7%
$275,757
$275.8K
Cap Rate 9%
$214,478
$214.5K
Market Conditions
NOI Build-Up for 1,695 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
$29.5K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.6K $16.27/SF
− OpEx
−$8.3K −$4.88/SF
NOI
$19.3K $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%
$386,060
Cap Rate 7%
$275,757
Cap Rate 9%
$214,478
Alternative Uses
Best Use
Multifamily LT 5
$275.8K
$241.3K – $321.7K
NOI $19,303 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$247.3K
$216.4K – $288.6K
NOI $17,314 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$507.3K
$443.9K – $591.9K
NOI $35,514 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 12306, NY
26,935
Population
12,481
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
43.9 sq mi
ZIP Area
614
Density / Sq Mi
$80,583
Median Household Income
$46,702
Median Earnings
$1,221
Median Rent
$212,700
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 - Two separate units support flexible occupancy, with refreshed finishes in the upper apartment and individually metered utilities.
Where is this duplex located?
The property is located at 191 Princetown Road Schenectady, NY.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1,695‑square‑foot duplex on a 0.32‑acre corner lot; First‑floor unit offers 3 bedrooms, oak hardwood floors, front porch, and finished basement storage; Upper apartment includes updated flooring, fresh paint, new appliances, washer and dryer, and a new bathroom
