Five-Unit Apartment
For Sale
$469,000
714 Union Street, Schenectady, NY 12305
MultiFamily, Schenectady, NY
Property Size2,932 SF
Lot Size0.09 Acres
Price / SF$159.96
Days on Market307
Property Features for 714 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 5, Bathroom 3, Bedroom 2
Parking
5
Parking features
Off Street, Driveway
Window features
Skylight(s)
Patio and Porch features
Porch
Basement
Unfinished, Interior Entry
Lot features
Level, Road Frontage
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Heading East on Union Street, the building will be on your left shortly after Seward Pl., but before Lafayette Street.
Standard status
Active
APN
421500 39.73-1-7
Size
2,932 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
6727
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1984
Number of units
5
Flooring type
Carpet, Vinyl, Hardwood
Building materials
Aluminum Siding
Roof type
Flat
Architectural style
Other
Listing Agency:
Advanced Property Management
(518) 265-0886
Listed By:
Matthew H Janke · License #10401338755
(518) 708-9008
Added: Dec 2, 2025
Changed: Oct 2
Last Checked: Oct 5 at 11:06AM
MLS# 202530407
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 five-unit apartment building contains approximately 2,932 square feet across three stories and was built in 1984. The property occupies a 28-by-150-foot lot, or 0.09 acres, and includes a porch, flat roof, aluminum siding, and a mix of vinyl, carpet, and hardwood flooring. Heating is provided by electric baseboard systems, with window unit cooling. Public water and public sewer serve the property, while parking is available through a driveway and off-street spaces.
Located at 714 Union Street in Schenectady, the property is near Union College, Ellis Hospital, Schenectady High School, Downtown Schenectady, and Mohawk Harbor. Shops, restaurants, and entertainment venues are located along Union Street, while Yates Elementary, Oneida Middle School, and Schenectady High School are each within 2 miles or less.
Located at 714 Union Street in Schenectady, the property is near Union College, Ellis Hospital, Schenectady High School, Downtown Schenectady, and Mohawk Harbor. Shops, restaurants, and entertainment venues are located along Union Street, while Yates Elementary, Oneida Middle School, and Schenectady High School are each within 2 miles or less.
Key Highlights
- Five‑unit apartment building with 2,932 square feet of living space
- Three‑story property built in 1984
- 0.09‑acre lot measuring 28 by 150 feet
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
$29,950
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
6.39%
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%
$599,000
$599.0K
Cap Rate 7%
$427,857
$427.9K
Cap Rate 9%
$332,778
$332.8K
Market Conditions
NOI Build-Up for 2,932 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
$58.1K $19.80/SF
− Vacancy
−$3.6K −$1.23/SF
EGI
$54.5K $18.57/SF
− OpEx
−$24.5K −$8.36/SF
NOI
$29.9K $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%
$599,000
Cap Rate 7%
$427,857
Cap Rate 9%
$332,778
Alternative Uses
Best Use
Apartment 5plus
$427.9K
$374.4K – $499.2K
NOI $29,950 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$877.6K
$767.9K – $1.02M
NOI $61,431 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three-story multifamily property with public utilities, off-street parking, and a porch along the Union Street corridor.
Where is this apartment building located?
The property is located at 714 Union Street Schenectady, NY.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Five‑unit apartment building with 2,932 square feet of living space; Three‑story property built in 1984; 0.09‑acre lot measuring 28 by 150 feet
