Renovated Two-Family
For Sale
$299,000
Pending
1016 Strong St, Schenectady, NY 12307
Updated duplex with modern kitchens, separate electric meters, outdoor space, and a fenced yard.
Property Size1,556 SF
Days on Market50
Property Features for 1016 Strong St
General Information
Standard status
Pending
Size
1,556 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
deck
porch
fenced yard
full basement
electric fireplace
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Redway Realty LLC
(518) 526-1800
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Jul 14
Changed: Aug 31
Last Checked: Aug 31 at 3:10PM
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 Redway Realty LLC
Investment Insights
Based on property information with market context.
This 1,556-square-foot duplex, built in 1910, has been extensively updated across both residences. Each unit includes two bedrooms, one full bathroom, and an open living and dining area with an electric fireplace. Renovations include new kitchens with stainless steel appliances, stone countertops, and contemporary cabinetry, along with refreshed bathrooms, flooring, paint, and built-in features.
The property also includes two separate electric meters, hot water heat, a full basement, a deck, a porch, and a fenced yard. Its Schenectady setting is close to downtown, shopping, and major commuter routes.
The property also includes two separate electric meters, hot water heat, a full basement, a deck, a porch, and a fenced yard. Its Schenectady setting is close to downtown, shopping, and major commuter routes.
Key Highlights
- Two‑unit duplex with 1,556 square feet, built in 1910
- Each unit includes 2 bedrooms and 1 full bathroom
- Updated kitchens with stainless steel appliances and stone countertops
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
$17,720
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
5.93%
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%
$354,400
$354.4K
Cap Rate 7%
$253,143
$253.1K
Cap Rate 9%
$196,889
$196.9K
Market Conditions
NOI Build-Up for 1,556 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
$27.1K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$25.3K $16.27/SF
− OpEx
−$7.6K −$4.88/SF
NOI
$17.7K $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%
$354,400
Cap Rate 7%
$253,143
Cap Rate 9%
$196,889
Alternative Uses
Best Use
Multifamily LT 5
$253.1K
$221.5K – $295.3K
NOI $17,720 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$227.1K
$198.7K – $264.9K
NOI $15,894 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 10.90%
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
769
Businesses Nearby
Explore this area
Business Placement
Demographics for 12307, NY
7,567
Population
3,491
Households
2.2
Avg Household Size
32
Median Age
14%
College-Educated
74%
High-School Grad
0.7 sq mi
ZIP Area
10,810
Density / Sq Mi
$33,191
Median Household Income
$28,878
Median Earnings
$1,110
Median Rent
$95,900
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 - Updated duplex with modern kitchens, separate electric meters, outdoor space, and a fenced yard.
Where is this duplex located?
The property is located at 1016 Strong St Schenectady, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,556 square feet, built in 1910; Each unit includes 2 bedrooms and 1 full bathroom; Updated kitchens with stainless steel appliances and stone countertops
