To-Be-Built Duplex
For Sale
$549,900
453 Gage Road, Delanson, NY 12053
MULTI_FAMILY - Delanson, NY
Property Size1,957 SF
Lot Size3.58 Acres
Price / SF$280.99
Days on Market158
Property Features for 453 Gage Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 4
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Walk-In Closet(s)
High school district
000000
Directions
Western Turnpike to Gage Rd.
Standard status
Active
Size
1,957 SF
Lot size
3.58 Acres
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Propane (Heating)
Building Details
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Donelle Lucarelli Moffatt · License #10401285774
(518) 356-1701
Added: Mar 6
Changed: Aug 2
Last Checked: Aug 11 at 4:06AM
MLS# 11668796
Copyright © 2026 My State MLS. 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.
To-be-built duplex residence on a 3.58-acre site at 453 Gage Road in Delanson, NY. The Janet Ann model is designed as a single-story home with 1,957 SF of living space, including four bedrooms and four full baths. Interior finishes include LVT flooring in the main living areas, carpeted bedrooms, and a walk-in closet.
The plan includes a full basement with 8-foot ceilings, providing additional space for future living or storage. Heating is provided by a heat pump with propane heat, and the home uses a septic tank for sewer service. Exterior materials include vinyl siding, and the roof is asphalt. Parking is via driveway, and the property includes a porch.
The property is offered as a to-be-built option; photos shown are digital renderings and virtually staged for illustration purposes.
The plan includes a full basement with 8-foot ceilings, providing additional space for future living or storage. Heating is provided by a heat pump with propane heat, and the home uses a septic tank for sewer service. Exterior materials include vinyl siding, and the roof is asphalt. Parking is via driveway, and the property includes a porch.
The property is offered as a to-be-built option; photos shown are digital renderings and virtually staged for illustration purposes.
Key Highlights
- 3.58‑acre duplex site at 453 Gage Road in Delanson, NY
- 1,957 SF one‑floor Janet Ann model with four bedrooms and four full baths
- Full basement with 8‑foot ceilings for future living or storage
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
$22,287
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
4.05%
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%
$445,740
$445.7K
Cap Rate 7%
$318,386
$318.4K
Cap Rate 9%
$247,633
$247.6K
Market Conditions
NOI Build-Up for 1,957 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
$34.1K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$31.8K $16.27/SF
− OpEx
−$9.6K −$4.88/SF
NOI
$22.3K $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%
$445,740
Cap Rate 7%
$318,386
Cap Rate 9%
$247,633
Alternative Uses
Best Use
Multifamily LT 5
$318.4K
$278.6K – $371.5K
NOI $22,287 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$285.6K
$249.9K – $333.2K
NOI $19,990 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$585.8K
$512.5K – $683.4K
NOI $41,003 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 12053, NY
4,142
Population
1,997
Households
2.1
Avg Household Size
47
Median Age
31%
College-Educated
92%
High-School Grad
56.4 sq mi
ZIP Area
73
Density / Sq Mi
$99,831
Median Household Income
$61,523
Median Earnings
$788
Median Rent
$258,600
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 - To-be-built duplex with a one-floor layout featuring four bedrooms, four full baths, and a full basement.
Where is this duplex located?
The property is located at 453 Gage Road Delanson, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 3.58‑acre duplex site at 453 Gage Road in Delanson, NY; 1,957 SF one‑floor Janet Ann model with four bedrooms and four full baths; Full basement with 8‑foot ceilings for future living or storage
