Three-Level Victorian
For Sale
$325,000
1056 Wendell Avenue, Schenectady, NY 12308
MultiFamily, Schenectady, NY
Property Size2,139 SF
Lot Size0.10 Acres
Price / SF$151.94
Days on Market52
Property Features for 1056 Wendell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking
2
Parking features
Off Street, Driveway
Patio and Porch features
Porch, Deck
Interior features
Paddle Fan, High Speed Internet, Walk-In Closet(s), Built-in Features, Ceramic Tile Bath, Chair Rail, Crown Molding
Basement
Walk-Out Access, Exterior Entry, Full, Interior Entry
Lot features
Level, Garden
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Union St to Wendell Ave, home on the right hand side before Oxford Pl
Standard status
Active
APN
421500 39.75-2-52
Size
2,139 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
8054
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Radiant, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
in-unit washer/dryer
deck
storage
walkout basement
Building Details
Year built
1896
Number of units
2
Flooring type
Hardwood, Vinyl, Laminate, Tile - Ceramic
Building materials
Wood Siding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Patrick Dunn · License #10401288889
(518) 407-9834
Added: Jul 10
Changed: Aug 20
Last Checked: Aug 30 at 6:06AM
MLS# 202621568
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 1896 Victorian-style duplex contains two residences across three levels and offers 2139 square feet on a 0.1-acre lot. Original wood detailing remains throughout, complemented by newer plumbing, electrical improvements, and renovated bathrooms. Each unit includes its own washer and dryer and separately metered utilities. Hardwood, vinyl, laminate, and ceramic tile flooring are found throughout the property.
A second-floor deck extends toward the backyard, while a porch, walkout basement, and additional storage provide useful outdoor and service space. The property includes driveway and off-street parking, public water and sewer, natural-gas heating, and window-unit cooling. Its Schenectady setting places it near Union Street, Union College, parks, restaurants, shopping, and Ellis Hospital.
A second-floor deck extends toward the backyard, while a porch, walkout basement, and additional storage provide useful outdoor and service space. The property includes driveway and off-street parking, public water and sewer, natural-gas heating, and window-unit cooling. Its Schenectady setting places it near Union Street, Union College, parks, restaurants, shopping, and Ellis Hospital.
Key Highlights
- Two‑family duplex spanning three levels with 2139 square feet
- 1896 Victorian‑style property with original woodwork and craftsmanship
- Each unit has a washer, dryer, and 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 - Updated two-family property with separate utilities, in-unit laundry, and a second-floor deck overlooking the backyard.
Where is this duplex located?
The property is located at 1056 Wendell Avenue 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: Two‑family duplex spanning three levels with 2139 square feet; 1896 Victorian‑style property with original woodwork and craftsmanship; Each unit has a washer, dryer, and separate utilities
