Schenectady Two-Family Home For
For Sale
$222,900
Pending
406 - 408 Shannon Street, Schenectady, NY 12306
MULTI_FAMILY - Other - Schenectady, NY
Property Size1,820 SF
Lot Size0.09 Acres
Days on Market282
Property Features for 406 - 408 Shannon Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Parking
2
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Interior features
Paddle Fan, Built-in Features, Ceramic Tile Bath
Basement
Full
Lot features
Level
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Broadway to Shannon St
Standard status
Pending
APN
421500 48.59-1-10 01
Size
1,820 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
6021
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Linoleum, Hardwood
Building materials
Aluminum Siding
Roof type
Asphalt
Architectural style
Other
Additional Structures
Outbuilding
Listing Agency:
Howard Hanna Capital Inc
(518) 370-3170
Listed By:
JoAnn M Faucett · License #30FA0562976
(518) 496-6136
Added: Nov 10, 2025
Changed: Aug 13
Last Checked: Aug 19 at 5:06PM
MLS# 202529326
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.
Located in the Bellevue section of Schenectady, this two-family home is suitable for either owner occupancy or investment purposes. Each flat features two bedrooms and an eat-in kitchen. The floor plan provides flexibility for a formal dining area or a large living room. The first-floor flat includes a laundry area. The second-floor flat offers enclosed front and back porches. The property includes off-street parking and separate utilities for each unit. Both flats have 2-year-old furnaces and a newer hot water tank. The lot size is 0.09 acres and the property size is 1820 square feet.
Key Highlights
- Two‑family property in the Bellevue section of Schenectady with two bedrooms in each flat
- Each unit includes an eat‑in kitchen and a floor plan that allows for a formal dining area or larger living room
- First‑floor laundry area in the flat, plus enclosed front and back porches on the second floor
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
$18,591
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
8.34%
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%
$371,820
$371.8K
Cap Rate 7%
$265,586
$265.6K
Cap Rate 9%
$206,567
$206.6K
Market Conditions
NOI Build-Up for 1,820 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
$36.0K $19.80/SF
− Vacancy
−$2.2K −$1.23/SF
EGI
$33.8K $18.57/SF
− OpEx
−$15.2K −$8.36/SF
NOI
$18.6K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /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%
$371,820
Cap Rate 7%
$265,586
Cap Rate 9%
$206,567
Alternative Uses
Best Use
Multifamily LT 5
$296.1K
$259.1K – $345.5K
NOI $20,727 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$265.6K
$232.4K – $309.9K
NOI $18,591 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$544.8K
$476.7K – $635.6K
NOI $38,133 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
391
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-family home in Bellevue, Schenectady, suitable for owner occupancy or investment.
Where is this duplex located?
The property is located at 406 - 408 Shannon Street Schenectady, NY.
What is the asking price?
The asking price for this property is $222,900.
What are key features of this property?
This property features: Two‑family property in the Bellevue section of Schenectady with two bedrooms in each flat; Each unit includes an eat‑in kitchen and a floor plan that allows for a formal dining area or larger living room; First‑floor laundry area in the flat, plus enclosed front and back porches on the second floor
