Remodeled Side-by-Side
For Sale
$305,000
Pending
117-119 Odell Street, Schenectady, NY 12304
MULTI_FAMILY - Other - Schenectady, NY
Property Size2,074 SF
Lot Size0.15 Acres
Days on Market225
Property Features for 117-119 Odell Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Parking
2
Parking features
Off Street
Patio and Porch features
Porch
Fencing
Fenced
Basement
Full
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
State Street to Michigan Ave, Left on Odell
Standard status
Pending
APN
421500 49.59-1-18 01
Size
2,074 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
6913
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
fenced backyard
Building Details
Year built
1880
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Realty One Group Key
(518) 630-5360
Listed By:
Tina Berlin · License #10401348077
(518) 688-6101
Added: Jan 6
Changed: Aug 7
Last Checked: Aug 19 at 3:06PM
MLS# 202610236
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 beautifully remodeled side-by-side duplex at 117-119 Odell Street offers two separate homes with abundant natural light and plenty of storage. Each side has its own utilities, and the fenced yard is separated for added privacy and separation between the units. Off-street parking is also available.
The property is located in Schenectady, NY 12304 and is described as conveniently situated near public transportation, highways, shopping, and local amenities.
Both units are currently vacant and ready for their next occupants. The offering includes a total lot size of 0.15 acres and approximately 2,074 square feet of property size.
The property is located in Schenectady, NY 12304 and is described as conveniently situated near public transportation, highways, shopping, and local amenities.
Both units are currently vacant and ready for their next occupants. The offering includes a total lot size of 0.15 acres and approximately 2,074 square feet of property size.
Key Highlights
- Side‑by‑side duplex built in 1880 with vinyl siding
- Remodeled duplex with 4 bedrooms and 2 full bathrooms across the two units (rooms listed: Bedroom 1‑4, Bathroom 1‑2)
- Separate utilities for each side of the duplex
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
938
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 - Side-by-side duplex with separate utilities, fenced backyard separation, and off-street parking; both units are currently vacant.
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: Side‑by‑side duplex built in 1880 with vinyl siding; Remodeled duplex with 4 bedrooms and 2 full bathrooms across the two units (rooms listed: Bedroom 1‑4, Bathroom 1‑2); Separate utilities for each side of the duplex
