Two-Unit Duplex with Additional
For Sale
$245,000
1002 Glendale Place, Schenectady, NY 12303
One residence is tenant-occupied, while the other is available for occupancy or leasing.
Property Size1,680 SF
Price / SF$145.83
Days on Market47
Property Features for 1002 Glendale Place
General Information
Standard status
Active
Size
1,680 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,262
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Prime Properties
(518) 704-1056
Listed By:
Mohini Amazalum
(518) 704-1056
Source:
Capmarkrealty
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 31 at 12:54PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
Located at 1002 Glendale Place in Schenectady, this 1,680-square-foot duplex contains two residential units arranged across the first and second floors. Each unit includes two bedrooms and one full bathroom, providing a consistent configuration throughout the building. The property was constructed in 1900 and is offered in as-is condition.
The first-floor residence has a month-to-month tenant in place. The upper unit is vacant, allowing an owner-occupant to use the space or pursue a new tenant. Additional land is included with the property, creating outdoor space beyond the building footprint. The combination of an occupied unit, a vacant unit, and the included land gives the property a flexible two-unit layout for residential income use.
The first-floor residence has a month-to-month tenant in place. The upper unit is vacant, allowing an owner-occupant to use the space or pursue a new tenant. Additional land is included with the property, creating outdoor space beyond the building footprint. The combination of an occupied unit, a vacant unit, and the included land gives the property a flexible two-unit layout for residential income use.
Key Highlights
- Two‑unit duplex with 1,680 square feet of building area
- Two bedrooms and one full bathroom on each floor
- First‑floor unit occupied by a month‑to‑month tenant
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
$19,132
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
7.81%
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%
$382,640
$382.6K
Cap Rate 7%
$273,314
$273.3K
Cap Rate 9%
$212,578
$212.6K
Market Conditions
NOI Build-Up for 1,680 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
$29.2K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.3K $16.27/SF
− OpEx
−$8.2K −$4.88/SF
NOI
$19.1K $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%
$382,640
Cap Rate 7%
$273,314
Cap Rate 9%
$212,578
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,132 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$245.2K
$214.5K – $286.0K
NOI $17,161 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$502.8K
$440.0K – $586.7K
NOI $35,199 @ 7.0% cap · market cap 14.37%
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
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
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?
Duplex - One residence is tenant-occupied, while the other is available for occupancy or leasing.
Where is this duplex located?
The property is located at 1002 Glendale Place Schenectady, NY.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,680 square feet of building area; Two bedrooms and one full bathroom on each floor; First‑floor unit occupied by a month‑to‑month tenant
