Renovated 2-Unit
For Sale
$284,500
1027 2nd Avenue, Schenectady, NY 12303
Two vacant three-bedroom residences feature updated kitchens, bathrooms, mechanical systems, and interior finishes.
Property Size2,448 SF
Price / SF$116.22
Days on Market50
Property Features for 1027 2nd Avenue
General Information
Standard status
Active
Size
2,448 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$7,053
Building Details
Year Built
1920
Listing Agency:
Scorzafava Real Estate Group LLC
Listed By:
Scott Scorzafava · License #10491210709
(518) 847-7962
Source:
Capmarkrealty
Added: Aug 26
Changed: Oct 11
Last Checked: Oct 12 at 4:54PM
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 Scorzafava Real Estate Group LLC
Investment Insights
Based on property information with market context.
This duplex contains two three-bedroom residences within 2,448 square feet of building area. The property is vacant, allowing immediate occupancy or a new leasing plan. Recent improvements include kitchens with granite countertops and stainless steel appliances, ceramic-tile bathrooms, new vinyl siding, drywall, electrical, plumbing, furnaces, hot water heaters, flooring, lighting, and interior paint.
The property is located at 1027 2nd Avenue in Schenectady, NY, with shopping, restaurants, downtown, schools, parks, and a bus line in the surrounding area. Built in 1920, the building combines a two-unit residential layout with extensive updates to major systems and finishes.
The property is located at 1027 2nd Avenue in Schenectady, NY, with shopping, restaurants, downtown, schools, parks, and a bus line in the surrounding area. Built in 1920, the building combines a two-unit residential layout with extensive updates to major systems and finishes.
Key Highlights
- Two‑unit duplex with 3 bedrooms over 3 bedrooms
- 2,448 square feet of building area
- Currently vacant for immediate occupancy or leasing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,006
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,120
$500.1K
Cap Rate 7%
$357,229
$357.2K
Cap Rate 9%
$277,844
$277.8K
Market Conditions
NOI Build-Up for 2,448 SF
Gross rent
$48.5K $19.80/SF
− Vacancy
−$3.0K −$1.23/SF
EGI
$45.5K $18.57/SF
− OpEx
−$20.5K −$8.36/SF
NOI
$25.0K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,120
Cap Rate 7%
$357,229
Cap Rate 9%
$277,844
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.5K – $464.7K
NOI $27,879 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$357.2K
$312.6K – $416.8K
NOI $25,006 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$732.7K
$641.1K – $854.8K
NOI $51,290 @ 7.0% cap · market cap 18.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
488
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant three-bedroom residences feature updated kitchens, bathrooms, mechanical systems, and interior finishes.
Where is this duplex located?
The property is located at 1027 2nd Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $284,500.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms over 3 bedrooms; 2,448 square feet of building area; Currently vacant for immediate occupancy or leasing
