Three-Level Duplex with
For Sale
$325,000
1056 Wendell Ave, Schenectady, NY 12308
Two residential units feature separate utilities, in-unit laundry, updated bathrooms, and basement access in a walkable Schenectady setting.
Property Size2,139 SF
Price / SF$151.94
Days on Market48
Property Features for 1056 Wendell Ave
General Information
Standard status
Active
Size
2,139 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
deck
in-unit washer/dryer
Building Details
Year Built
1896
Stories
3
Construction
Victorian style
Listing Agency:
Howard Hanna Capital Inc
(518) 669-1804
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 29 at 8:56AM
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 two-family property contains 2,139 square feet across three levels and dates to 1896. Original wood detailing remains throughout, complemented by newer plumbing, updated electrical systems, and renovated bathrooms. Each residence includes its own washer and dryer and is served by separate utilities. Additional features include substantial storage, a walkout basement, and a second-floor deck positioned above the backyard.
The property is located near Union Street and within walking distance of Union College, parks, restaurants, shopping, and Ellis Hospital. The layout and separate utility setup support either an owner-occupied arrangement or continued use as a residential income property.
The property is located near Union Street and within walking distance of Union College, parks, restaurants, shopping, and Ellis Hospital. The layout and separate utility setup support either an owner-occupied arrangement or continued use as a residential income property.
Key Highlights
- 2,139‑square‑foot two‑family property built in 1896
- Three‑level layout with original woodwork and craftsmanship
- Each unit has its own washer and dryer with separate utilities
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
$24,360
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
7.50%
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%
$487,200
$487.2K
Cap Rate 7%
$348,000
$348.0K
Cap Rate 9%
$270,667
$270.7K
Market Conditions
NOI Build-Up for 2,139 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
$37.2K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$34.8K $16.27/SF
− OpEx
−$10.4K −$4.88/SF
NOI
$24.4K $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%
$487,200
Cap Rate 7%
$348,000
Cap Rate 9%
$270,667
Alternative Uses
Best Use
Multifamily LT 5
$348.0K
$304.5K – $406.0K
NOI $24,360 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$312.1K
$273.1K – $364.2K
NOI $21,849 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 13.79%
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
1,216
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 residential units feature separate utilities, in-unit laundry, updated bathrooms, and basement access in a walkable Schenectady setting.
Where is this duplex located?
The property is located at 1056 Wendell Ave Schenectady, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,139‑square‑foot two‑family property built in 1896; Three‑level layout with original woodwork and craftsmanship; Each unit has its own washer and dryer with separate utilities
