Two-Family Residential Income
For Sale
$299,900
1017 Chrisler Avenue, Schenectady, NY 12303
Large two-family home with three bedrooms per unit and backyard space, suited for owner-occupants or investors.
Property Size2,304 SF
Price / SF$130.16
Days on Market234
Property Features for 1017 Chrisler Avenue
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
Scorzafava Real Estate Group LLC
Listed By:
Scott Scorzafava
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jan 16
Changed: Sep 6
Last Checked: Sep 6 at 9:34AM
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 Scorzafava Real Estate Group LLC
Investment Insights
Based on property information with market context.
This large two-family residential property offers a total layout of three bedrooms over three bedrooms. Each unit provides its own living space within a single, two-unit home, with additional outdoor space in the backyard.
The property is located in Schenectady with convenient proximity to Downtown, shopping, restaurants, and a bus line.
At least one apartment can be delivered vacant if desired, which may support flexible occupancy planning for an owner-occupant or investor.
The property is located in Schenectady with convenient proximity to Downtown, shopping, restaurants, and a bus line.
At least one apartment can be delivered vacant if desired, which may support flexible occupancy planning for an owner-occupant or investor.
Key Highlights
- Large 2‑family home built in 1910
- 3 bedrooms per unit (3 over 3) across both apartments
- Suitable for owner‑occupant or investment use
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
$26,239
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
8.75%
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%
$524,780
$524.8K
Cap Rate 7%
$374,843
$374.8K
Cap Rate 9%
$291,544
$291.5K
Market Conditions
NOI Build-Up for 2,304 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
$40.1K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.5K $16.27/SF
− OpEx
−$11.2K −$4.88/SF
NOI
$26.2K $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%
$524,780
Cap Rate 7%
$374,843
Cap Rate 9%
$291,544
Alternative Uses
Best Use
Multifamily LT 5
$374.8K
$328.0K – $437.3K
NOI $26,239 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$336.2K
$294.2K – $392.3K
NOI $23,535 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$689.6K
$603.4K – $804.6K
NOI $48,273 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
509
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 - Large two-family home with three bedrooms per unit and backyard space, suited for owner-occupants or investors.
Where is this duplex located?
The property is located at 1017 Chrisler Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Large 2‑family home built in 1910; 3 bedrooms per unit (3 over 3) across both apartments; Suitable for owner‑occupant or investment use
