Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multifamily Property in Castleton, NY Title is generated by Realmo AI

    982 S Schodack Road, Castleton, NY 12033

    View on Map
    Claim this Listing
    For Sale
    $675,000

    MULTI_FAMILY - Castleton, NY

    Property size:
    4,224 SF
    Lot size:
    3.17 Acres
    Price / SF:
    $159/SF
    Added:
    Mar 31, 2026
    Days on Market:
    59
    Last Refresh:
    May 28 at 9:06 am

    Property Features for 982 S Schodack Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    9
    Bathrooms
    5
    Rooms
    Bathroom 5, Bathroom 6, Bedroom 5, Bedroom 9, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 1, Bathroom 4, Laundry Room, Bedroom 2, Bedroom 7, Bedroom 6
    Parking
    8
    Parking features
    Off Street
    Window features
    Insulated Windows
    Patio and Porch features
    Porch
    Interior features
    High Speed Internet
    Basement
    Exterior Entry, Unfinished, Full
    Standard status
    Active
    APN
    384489 219.-1-8.111
    Size
    4,224 SF
    Lot size
    3.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7823

    Utilities

    Utilities
    Cable Available
    Sewer type
    Shared Septic, Septic Tank
    Heating system
    Electric (Heating), Baseboard
    Water source
    Well

    Building Details

    Year built
    1800
    Number of units
    4
    Flooring type
    Laminate
    Building materials
    Vinyl Siding
    Roof type
    Shingle, Flat, Asphalt

    We can help!

    Listing Contact
    Karen R Westman

    Listing agent Karen R Westman License #30WE1064299

    Listing office Berkshire Hathaway Home Services Blake 6 Hudson St, Albany, NY

    Listing date Mar 31, 2026

    MLS# 202614189 Listing URL

    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.

    HighLights

    • Fully renovated in 2025, move‑in ready owner's unit with income from three leased apartments.
    • Immediate cash flow from 3 fully‑leased apartments on stable 1‑year leases.
    • Low‑hassle country living on 3.17 acres with ample parking and green space.
    • All new windows, plumbing, stainless steel appliances, flooring, kitchens, and baths in all units.
    • Newer shared well and septic system, plus individual electric and water heaters for each unit.
    • Conveniently located 10‑15 minutes from East Greenbush, Kinderhook, Rensselaer, and Albany.

    Overview

    This multifamily property in Castleton, NY, offers a unique opportunity to live and earn rental income. The property features four units: three with two bedrooms and one with three bedrooms, all currently under one-year leases, providing immediate cash flow. A freshly renovated unit, with interiors updated in 2025, is available for owner occupancy. The property includes a newer shared well and septic system, along with an on-site coin-operated laundry room. Each unit is equipped with its own new electric and water heaters, and the property boasts new windows, plumbing, stainless steel appliances, flooring, kitchens, and baths. A separate owner's electric service is in place for laundry and common areas. Situated on a 3.17-acre parcel, the property offers ample off-street parking and green space, surrounded by farmland for peaceful country living. It is conveniently located 10 minutes from East Greenbush or Kinderhook and 15 minutes from Rensselaer and downtown Albany, within the Schodack school district. The property size is 4224 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $614.7K
    NOI $55,325 @ 9.00% cap · cautious / downside scenario
    Moderate
    $790.4K
    NOI $55,325 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.11M
    NOI $55,325 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $83.6k $19.80
    − Vacancy −$4.6k −$1.09
    EGI $79.0k $18.71
    − OpEx −$23.7k −$5.61
    NOI $55.3k $13.10
    4,224 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $790.4K
    $691.6K – $922.1K (±1% cap)
    NOI $55,325 @ 7.0% cap · market cap 8.20%
    Second Best
    Apartment 5plus
    $732.5K
    $640.9K – $854.5K (±1% cap)
    NOI $51,272 @ 7.0% cap · market cap 7.60%
    Theoretical Best
    Office A
    $1.06M
    $923.9K – $1.23M (±1% cap)
    NOI $73,915 @ 7.0% cap · market cap 10.95%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Hotel & Motel Food Market Bed & Breakfast (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Castleton
    County
    Rensselaer
    State
    New York
    Longitude
    -73.703245
    Latitude
    42.497261

    Nearby Similar for Sale

    • $724,999
      6,200 SF

      Castleton Office Space For Sale

      Office space on Columbia Turnpike, 15 minutes from Albany.
      1670 Columbia Turnpike, Castleton, NY 12033
      View Details
    • $1,730,000
      30,192 SF

      Versatile Industrial Facility Near Amazon

      30,000+ sqft building on 9.06 acres near distribution center.
      1688 US-9, Castleton, NY 12033
      View Details
    • $359,990
      3,648 SF

      MULTI_FAMILY - Other - Castleton, NY

      22-24 Campbell Avenue, Castleton, NY 12033
      View Details
    • $1,299,000
      7,608 SF

      Profitable Multifamily Investment Opportunity

      Ten units across three buildings on a one-acre parcel.
      1300 S Schodack Road, Castleton, NY 12033
      View Details
    • $307,692
      4,224 SF

      Four-Unit Apartment with Barn

      Four-unit apartment with barn in rural setting, ready for renovation.
      982 S Schodack Rd, Castleton, NY 12033
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property with immediate cash flow and recent renovations.
    Where is this quadplex located?
    The property is located at 982 S Schodack Road Castleton, NY.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Fully renovated in 2025, move‑in ready owner's unit with income from three leased apartments.; Immediate cash flow from 3 fully‑leased apartments on stable 1‑year leases.; Low‑hassle country living on 3.17 acres with ample parking and green space.
    (518) 366-7788
    We can help!
    Listing Contact
    Karen R Westman
    Real Estate License ID: 30WE1064299
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    982 S Schodack Road, Castleton, NY 12033
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!