Two-Family Residential Income
For Sale
$242,900
103 Prospect Street, Schenectady, NY 12308
MULTI_FAMILY - Other - Schenectady, NY
Property Size1,536 SF
Lot Size0.08 Acres
Price / SF$158.14
Days on Market149
Property Features for 103 Prospect Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2
Parking
2
Parking features
Driveway
Patio and Porch features
Porch
Interior features
High Speed Internet
Basement
Full, Unfinished, Sump Pump
Lot features
Level
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Prospect Street is right off of Eastern Ave.
Standard status
Active
APN
421500 39.82-2-75.1
Size
1,536 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4112
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1915
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Ron DiDonna Real Estate & Appraisals
(518) 377-2251
Listed By:
Peg Wos · License #40WO0245429
(518) 878-4541
Added: Mar 24
Changed: Jul 24
Last Checked: Aug 19 at 3:06PM
MLS# 202613871
Copyright © 2026 Global MLS, Inc. 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 residence offers two self-contained units, each with its own living room, kitchen, two bedrooms, and a bathroom. The property is arranged with separate heat and utilities for each flat. A washer and dryer hookup is available in the basement for convenient in-unit laundry setup.
The home is located at 103 Prospect Street in Schenectady, New York 12308, within Multi Residence zoning. A second unit was left vacant to facilitate the sale, which may support an owner-occupant scenario or provide flexibility for immediate occupancy.
For buyers seeking a straightforward duplex configuration, the property’s dual layout and separate utilities can help simplify management compared to single-meter setups. Each unit’s consistent room configuration supports an easier leasing plan, while the basement laundry hookups add a practical convenience for future tenants. The vacant flat provides an immediate pathway to occupancy upon closing, subject to buyer and tenant preferences.
The home is located at 103 Prospect Street in Schenectady, New York 12308, within Multi Residence zoning. A second unit was left vacant to facilitate the sale, which may support an owner-occupant scenario or provide flexibility for immediate occupancy.
For buyers seeking a straightforward duplex configuration, the property’s dual layout and separate utilities can help simplify management compared to single-meter setups. Each unit’s consistent room configuration supports an easier leasing plan, while the basement laundry hookups add a practical convenience for future tenants. The vacant flat provides an immediate pathway to occupancy upon closing, subject to buyer and tenant preferences.
Key Highlights
- Two‑family home with 2 baths and bedrooms in each flat (Bedroom 1–4 listed)
- Separate heat and utilities for the two units
- Washer & dryer hookups in the basement
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
Multi-tenant
Tenancy
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 - Two separate flats each with living space, bedrooms, and bath, with separate heat and utilities.
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‑family home with 2 baths and bedrooms in each flat (Bedroom 1–4 listed); Separate heat and utilities for the two units; Washer & dryer hookups in the basement
