Updated Three-Unit
New
For Sale
$435,000
1109 Glenwood Boulevard, Schenectady, NY 12308
MULTI_FAMILY - Schenectady, NY
Property Size3,632 SF
Lot Size0.15 Acres
Price / SF$119.77
Days on Market7
Property Features for 1109 Glenwood Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 7, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 6
Parking features
Driveway
Patio and Porch features
Porch
High school district
000000
Directions
Union St to Glenwood Blvd. Head northeast on Glenwood Blvd approx. 0.2 miles. Property is just past the intersection with Rugby Rd. Sign on property.
Standard status
Active
APN
421500 39.76-1-43
Size
3,632 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
7337
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
covered front porch
laundry
Building Details
Year built
1890
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Moonrani G Gumani · License #10401352209
(518) 356-1701
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 3:06PM
MLS# 11922281
Copyright © 2026 My State MLS. 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.
Built in 1890, this three-unit residential property combines historic character with renovated interior features. The 3,632-square-foot building contains 12 rooms, 6 bedrooms, and 3 full bathrooms. Each residence includes an updated kitchen with stone countertops, tile backsplash, and stainless-steel appliances, along with hardwood flooring, crown molding, recessed lighting, and tiled bathrooms with glass shower enclosures. The units have separate utility service, including 3 electric meters and 3 gas meters, while natural gas provides heat. Public water and sewer serve the property.
A full unfinished basement provides laundry space, and the walk-up attic offers additional expansion potential. Exterior features include vinyl siding, an asphalt roof, a covered front porch, a level 0.15-acre lot, and a deep rear yard. The property also includes a detached 1-car garage and driveway parking for 3 vehicles. Located on Glenwood Boulevard in Schenectady’s Upper Union Street area, the home is near the GE Realty Plot, Union College, Ellis Hospital, and downtown.
A full unfinished basement provides laundry space, and the walk-up attic offers additional expansion potential. Exterior features include vinyl siding, an asphalt roof, a covered front porch, a level 0.15-acre lot, and a deep rear yard. The property also includes a detached 1-car garage and driveway parking for 3 vehicles. Located on Glenwood Boulevard in Schenectady’s Upper Union Street area, the home is near the GE Realty Plot, Union College, Ellis Hospital, and downtown.
Key Highlights
- Three‑unit layout with 3,632 square feet, 12 rooms, 6 bedrooms, and 3 full bathrooms
- Separate utility service with 3 electric meters and 3 gas meters
- Renovated kitchens feature stone countertops, tile backsplashes, and stainless‑steel appliances
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
$37,100
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
8.53%
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%
$742,000
$742.0K
Cap Rate 7%
$530,000
$530.0K
Cap Rate 9%
$412,222
$412.2K
Market Conditions
NOI Build-Up for 3,632 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
$71.9K $19.80/SF
− Vacancy
−$4.5K −$1.23/SF
EGI
$67.5K $18.57/SF
− OpEx
−$30.4K −$8.36/SF
NOI
$37.1K $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%
$742,000
Cap Rate 7%
$530,000
Cap Rate 9%
$412,222
Alternative Uses
Best Use
Multifamily LT 5
$590.9K
$517.0K – $689.4K
NOI $41,362 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$530.0K
$463.8K – $618.3K
NOI $37,100 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.09M
$951.2K – $1.27M
NOI $76,098 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,075
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?
Triplex - Three separately metered residences with modern kitchens, basement laundry, garage parking, and a walk-up attic.
Where is this triplex located?
The property is located at 1109 Glenwood Boulevard Schenectady, NY.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Three‑unit layout with 3,632 square feet, 12 rooms, 6 bedrooms, and 3 full bathrooms; Separate utility service with 3 electric meters and 3 gas meters; Renovated kitchens feature stone countertops, tile backsplashes, and stainless‑steel appliances
