Renovated Two-Unit
For Sale
$299,000
Pending
1016 Strong Street, Schenectady, NY 12307
Residential Income, Schenectady, NY
Property Size1,556 SF
Lot Size0.07 Acres
Days on Market53
Property Features for 1016 Strong Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Deck, Porch
Fireplace
1
High school district
000000
Directions
Turn onto Craig Street and head south (uphill into Hamilton Hill). Continue to Strong Street and turn. 1016 Strong Street is mid-block.
Standard status
Pending
APN
421500 49.49-6-7
Size
1,556 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3736
Utilities
Heating system
Hot Water(Heating)
Water source
Public
Amenities
deck
porch
fenced yard
Building Details
Year built
1910
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Moonrani G Gumani · License #10401352209
(518) 356-1701
Added: Jul 11
Changed: Aug 30
Last Checked: Sep 1 at 4:06AM
MLS# 11882639
Copyright © 2026 My State MLS. 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 two-family duplex contains 1,556 square feet with an upper and lower apartment, each offering 2 bedrooms, 1 full bathroom, and a combined living and dining area with an electric fireplace. Renovations include new kitchens with stainless steel appliances, stone countertops, and modern cabinetry, along with updated bathrooms, flooring, paint, and built-in details. The property also includes hot water heat, a full basement, deck, porch, and fenced yard.
Built in 1910 on a 0.07-acre lot, the home has vinyl siding, an asphalt roof, tile and vinyl flooring, and public water service. Separate electric meters serve the two units. The property is near downtown Schenectady, shopping, and major commuter routes.
Built in 1910 on a 0.07-acre lot, the home has vinyl siding, an asphalt roof, tile and vinyl flooring, and public water service. Separate electric meters serve the two units. The property is near downtown Schenectady, shopping, and major commuter routes.
Key Highlights
- Two‑family duplex with 1,556 square feet and 2 units
- Each unit includes 2 bedrooms and 1 full bathroom
- Renovated kitchens with stainless steel appliances, stone countertops, and modern cabinetry
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 - Two updated apartments feature modern kitchens, refreshed baths, separate electric meters, and private outdoor areas.
Where is this duplex located?
The property is located at 1016 Strong Street 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‑family duplex with 1,556 square feet and 2 units; Each unit includes 2 bedrooms and 1 full bathroom; Renovated kitchens with stainless steel appliances, stone countertops, and modern cabinetry
