Four-Unit Multifamily
For Sale
$360,000
1-4-1671 Broadway, Schenectady, NY 12305
Four-unit residential property positioned near downtown Schenectady and area destinations.
Property Size2,160 SF
Price / SF$166.67
Days on Market38
Property Features for 1-4-1671 Broadway
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,893
Listing Agency:
Chad Majewski Real Estate
(518) 441-6783
Listed By:
Nicholas Rossi
(518) 441-6783
Source:
Exprealty
Added: Jul 17
Changed: Aug 21
Last Checked: Aug 22 at 12:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chad Majewski Real Estate
Investment Insights
Based on property information with market context.
This four-unit multifamily property is located at 1-4-1671 Broadway in Schenectady, just outside downtown. The property offers 2,160 of stated property size across its residential configuration.
The location provides access to Rivers Casino, Proctors Theatre, Union College, parks, restaurants, shopping, and everyday services. Its four-unit layout supports a residential income property profile in an established Schenectady setting.
The location provides access to Rivers Casino, Proctors Theatre, Union College, parks, restaurants, shopping, and everyday services. Its four-unit layout supports a residential income property profile in an established Schenectady setting.
Key Highlights
- Four‑unit multifamily property
- 2,160 stated property size
- Located just outside downtown Schenectady
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
$24,599
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
6.83%
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%
$491,980
$492.0K
Cap Rate 7%
$351,414
$351.4K
Cap Rate 9%
$273,322
$273.3K
Market Conditions
NOI Build-Up for 2,160 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
$37.6K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$35.1K $16.27/SF
− OpEx
−$10.5K −$4.88/SF
NOI
$24.6K $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%
$491,980
Cap Rate 7%
$351,414
Cap Rate 9%
$273,322
Alternative Uses
Best Use
Multifamily LT 5
$351.4K
$307.5K – $410.0K
NOI $24,599 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$315.2K
$275.8K – $367.7K
NOI $22,064 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$646.5K
$565.7K – $754.3K
NOI $45,256 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,073
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property positioned near downtown Schenectady and area destinations.
Where is this quadplex located?
The property is located at 1-4-1671 Broadway Schenectady, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,160 stated property size; Located just outside downtown Schenectady
