Renovated Two-Family
For Sale
$339,000
1030 Delamont Avenue, Schenectady, NY 12307
Two three-bedroom apartments combine updated interiors, original character, and substantial system improvements.
Property Size2,783 SF
Price / SF$121.81
Days on Market13
Property Features for 1030 Delamont Avenue
General Information
Standard status
Active
Size
2,783 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
garage
covered porch
patio
landscaped grounds
attic storage
mudroom
Building Details
Year Built
1900
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Victoria McLaughlin
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 7
Changed: Aug 19
Last Checked: Aug 19 at 10:33AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 2,783-square-foot duplex, built in 1900, contains two three-bedroom apartments. Each unit includes a full bathroom, living room, formal dining room, oversized kitchen, pantry, covered porch, and storage. Interior details include 10-foot ceilings, archways, original moldings, tin ceiling elements, stained glass, and built-in cabinetry. The first-floor apartment has luxury vinyl plank flooring, recessed lighting, an updated kitchen and bathroom, and a heated enclosed rear mudroom; the upper unit retains original hardwood floors and connects to an expansive attic.
Major property improvements include new siding, plumbing, electrical service, sewer line, ductwork, basement windows, and a chimney. The building also has two updated Rheem furnaces, two large water heaters, replacement windows with a transferable lifetime warranty, and a maintained slate roof. Exterior features include a new concrete driveway, locking gate, landscaped grounds, a covered lean-to patio, and a new detached garage. The property is located near downtown Schenectady, Union, Ellis Hospital, Rivers Casino, and major area employers.
Major property improvements include new siding, plumbing, electrical service, sewer line, ductwork, basement windows, and a chimney. The building also has two updated Rheem furnaces, two large water heaters, replacement windows with a transferable lifetime warranty, and a maintained slate roof. Exterior features include a new concrete driveway, locking gate, landscaped grounds, a covered lean-to patio, and a new detached garage. The property is located near downtown Schenectady, Union, Ellis Hospital, Rivers Casino, and major area employers.
Key Highlights
- Two 3‑bedroom apartments, each with a full bath, living room, dining room, kitchen, pantry, porch, and storage
- 2,783 SF duplex built in 1900
- Major updates include new plumbing, electrical, sewer line, siding, ductwork, and chimney
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
$28,428
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
8.39%
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%
$568,560
$568.6K
Cap Rate 7%
$406,114
$406.1K
Cap Rate 9%
$315,867
$315.9K
Market Conditions
NOI Build-Up for 2,783 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
$55.1K $19.80/SF
− Vacancy
−$3.4K −$1.23/SF
EGI
$51.7K $18.57/SF
− OpEx
−$23.3K −$8.36/SF
NOI
$28.4K $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 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%
$568,560
Cap Rate 7%
$406,114
Cap Rate 9%
$315,867
Alternative Uses
Best Use
Multifamily LT 5
$452.8K
$396.2K – $528.2K
NOI $31,694 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$406.1K
$355.4K – $473.8K
NOI $28,428 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$833.0K
$728.9K – $971.8K
NOI $58,309 @ 7.0% cap · market cap 17.20%
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
875
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 three-bedroom apartments combine updated interiors, original character, and substantial system improvements.
Where is this duplex located?
The property is located at 1030 Delamont Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two 3‑bedroom apartments, each with a full bath, living room, dining room, kitchen, pantry, porch, and storage; 2,783 SF duplex built in 1900; Major updates include new plumbing, electrical, sewer line, siding, ductwork, and chimney
