Two-Unit Duplex with Separate
For Sale
$242,900
103 Prospect Street, Schenectady, NY 12308
Each residence includes two bedrooms, a kitchen, living room, and bath.
Property Size1,536 SF
Price / SF$158.14
Days on Market38
Property Features for 103 Prospect Street
General Information
Standard status
Active
Size
1,536 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Multi Residence
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,112
Amenities
washer/dryer hookups
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Ron DiDonna Real Estate & Appraisals
(518) 878-4541
Listed By:
Peg Wos · License #40WO0245429
(518) 878-4541
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 8:51PM
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 Ron DiDonna Real Estate & Appraisals
Investment Insights
Based on property information with market context.
Built in 1915, this 1,536-square-foot duplex contains two residential flats, each arranged with a living room, kitchen, two bedrooms, and a bath. Separate heating and utility systems serve the units, while the basement provides washer and dryer hookups.
One flat is currently vacant, providing immediate flexibility for an owner-occupant or leasing strategy. The property is located at 103 Prospect Street in Schenectady, NY 12308 and carries Multi Residence zoning.
One flat is currently vacant, providing immediate flexibility for an owner-occupant or leasing strategy. The property is located at 103 Prospect Street in Schenectady, NY 12308 and carries Multi Residence zoning.
Key Highlights
- Two‑unit duplex with 1,536 square feet
- Each flat includes a living room, kitchen, 2 bedrooms, and a bath
- Separate heat and utilities for each unit
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
$17,492
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
7.20%
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%
$349,840
$349.8K
Cap Rate 7%
$249,886
$249.9K
Cap Rate 9%
$194,356
$194.4K
Market Conditions
NOI Build-Up for 1,536 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
$26.7K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$25.0K $16.27/SF
− OpEx
−$7.5K −$4.88/SF
NOI
$17.5K $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%
$349,840
Cap Rate 7%
$249,886
Cap Rate 9%
$194,356
Alternative Uses
Best Use
Multifamily LT 5
$249.9K
$218.7K – $291.5K
NOI $17,492 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$224.1K
$196.1K – $261.5K
NOI $15,690 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$459.7K
$402.3K – $536.4K
NOI $32,182 @ 7.0% cap · market cap 13.25%
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
1,782
Businesses Nearby
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
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 - Each residence includes two bedrooms, a kitchen, living room, and bath.
Where is this duplex located?
The property is located at 103 Prospect Street Schenectady, NY.
What is the asking price?
The asking price for this property is $242,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 square feet; Each flat includes a living room, kitchen, 2 bedrooms, and a bath; Separate heat and utilities for each unit
