Two-Unit Duplex with Covered
For Sale
$225,000
1037 Cutler Street, Schenectady, NY 12303
Separate electric meters and natural gas forced-air heating serve both apartments.
Property Size1,746 SF
Price / SF$128.87
Days on Market9
Property Features for 1037 Cutler Street
General Information
Standard status
Active
Size
1,746 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
In need of TLC
Units
Unit Mix
1 x 4BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,823
Amenities
covered front porch
bay window
hardwood flooring
full basement
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Moonrani G Gumani · License #10401352209
(201) 238-4972
Source:
Capmarkrealty
Added: Oct 24
Changed: Oct 25
Last Checked: Nov 1 at 2:42AM
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 Miranda Real Estate Group Inc
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Investment Insights
Based on property information with market context.
Built in 1910, this two-unit duplex contains 1,746 square feet. The first-floor apartment has four bedrooms and one bathroom; the second-floor apartment has three bedrooms and one bathroom. Each includes a kitchen, a combined living and dining area, and a covered front porch. A bay window and hardwood floors add character, while a full basement provides storage. The property has natural gas forced-air heat and separate electric meters.
The level lot includes a deep backyard. Tenants pay for heat, electricity, cable, and internet.
The level lot includes a deep backyard. Tenants pay for heat, electricity, cable, and internet.
Key Highlights
- Two apartments: a 4‑bedroom, 1‑bath unit and a 3‑bedroom, 1‑bath unit
- 1,746 square feet in a duplex built in 1910
- Separate electric meters and natural gas forced‑air heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,884
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,680
$397.7K
Cap Rate 7%
$284,057
$284.1K
Cap Rate 9%
$220,933
$220.9K
Market Conditions
NOI Build-Up for 1,746 SF
Gross rent
$30.4K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.4K $16.27/SF
− OpEx
−$8.5K −$4.88/SF
NOI
$19.9K $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 Rate 5%
$397,680
Cap Rate 7%
$284,057
Cap Rate 9%
$220,933
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.4K
NOI $19,884 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$254.8K
$222.9K – $297.3K
NOI $17,835 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$522.6K
$457.3K – $609.7K
NOI $36,582 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate electric meters and natural gas forced-air heating serve both apartments.
Where is this duplex located?
The property is located at 1037 Cutler Street Schenectady, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two apartments: a 4‑bedroom, 1‑bath unit and a 3‑bedroom, 1‑bath unit; 1,746 square feet in a duplex built in 1910; Separate electric meters and natural gas forced‑air heat
