Remodeled Side-by-Side
For Sale
$305,000
117-119 Odell Street, Schenectady, NY 12304
Two connected residences offer separate utilities, private yard areas, storage, and off-street parking.
Property Size2,074 SF
Price / SF$147.06
Days on Market40
Property Features for 117-119 Odell Street
General Information
Standard status
Active
Size
2,074 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,913
Amenities
fence
Building Details
Year Built
1880
Buildings
1
Listing Agency:
Realty One Group Key
(518) 688-6101
Listed By:
Tina Berlin · License #10401348077
(518) 688-6101
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 31 at 12:46PM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This 2,074-square-foot duplex contains two side-by-side residences built in 1880 and subsequently remodeled. Each unit benefits from separate utilities, abundant natural light, and ample storage. The backyard is divided by a fence, creating distinct outdoor areas, while off-street parking serves the property. Both residences are currently vacant, allowing the next owner to occupy or lease them without an existing tenant in place.
The property is located at 117-119 Odell Street in Schenectady, near public transportation, highway access, shopping, and local amenities. Its two-unit configuration and separate utility setup provide a straightforward physical layout for residential income use.
The property is located at 117-119 Odell Street in Schenectady, near public transportation, highway access, shopping, and local amenities. Its two-unit configuration and separate utility setup provide a straightforward physical layout for residential income use.
Key Highlights
- 2,074‑square‑foot side‑by‑side duplex at 117‑119 Odell Street
- Built in 1880 and remodeled
- Separate utilities for both residences
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
$23,619
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
7.74%
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%
$472,380
$472.4K
Cap Rate 7%
$337,414
$337.4K
Cap Rate 9%
$262,433
$262.4K
Market Conditions
NOI Build-Up for 2,074 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
$36.1K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$33.7K $16.27/SF
− OpEx
−$10.1K −$4.88/SF
NOI
$23.6K $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%
$472,380
Cap Rate 7%
$337,414
Cap Rate 9%
$262,433
Alternative Uses
Best Use
Multifamily LT 5
$337.4K
$295.2K – $393.7K
NOI $23,619 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$302.7K
$264.8K – $353.1K
NOI $21,186 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$620.8K
$543.2K – $724.2K
NOI $43,454 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
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 - Two connected residences offer separate utilities, private yard areas, storage, and off-street parking.
Where is this duplex located?
The property is located at 117-119 Odell Street Schenectady, NY.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 2,074‑square‑foot side‑by‑side duplex at 117‑119 Odell Street; Built in 1880 and remodeled; Separate utilities for both residences
