Renovated Duplex with Private
New
For Sale
$294,900
1083 Congress Street, Schenectady, NY 12303
Vacant two-family property with updated interiors, off-street parking, and a sizable rear yard.
Property Size1,808 SF
Price / SF$163.11
Days on Market7
Property Features for 1083 Congress Street
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
The Thompson Real Estate Team
Listed By:
Dyaram R Robert
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 29
Changed: Sep 3
Last Checked: Sep 2 at 8:09PM
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 The Thompson Real Estate Team
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,808 square feet and was built in 1900. The property has been newly renovated and is currently vacant, offering two residential floors within an existing income-property configuration.
A private driveway provides off-street parking, while the large backyard adds outdoor space to the property. Located at 1083 Congress St in Schenectady, New York, the duplex may accommodate an owner-occupant seeking a residence with a second floor available for rental use.
A private driveway provides off-street parking, while the large backyard adds outdoor space to the property. Located at 1083 Congress St in Schenectady, New York, the duplex may accommodate an owner-occupant seeking a residence with a second floor available for rental use.
Key Highlights
- 1,808‑square‑foot duplex built in 1900
- Newly renovated and currently vacant
- Two‑family residential configuration
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
$20,590
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
6.98%
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%
$411,800
$411.8K
Cap Rate 7%
$294,143
$294.1K
Cap Rate 9%
$228,778
$228.8K
Market Conditions
NOI Build-Up for 1,808 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
$31.5K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$29.4K $16.27/SF
− OpEx
−$8.8K −$4.88/SF
NOI
$20.6K $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%
$411,800
Cap Rate 7%
$294,143
Cap Rate 9%
$228,778
Alternative Uses
Best Use
Multifamily LT 5
$294.1K
$257.4K – $343.2K
NOI $20,590 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$263.8K
$230.9K – $307.8K
NOI $18,468 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$541.2K
$473.5K – $631.4K
NOI $37,881 @ 7.0% cap · market cap 12.85%
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
466
Businesses Nearby
Explore this area
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
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 - Vacant two-family property with updated interiors, off-street parking, and a sizable rear yard.
Where is this duplex located?
The property is located at 1083 Congress Street Schenectady, NY.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: 1,808‑square‑foot duplex built in 1900; Newly renovated and currently vacant; Two‑family residential configuration
