Remodeled Duplex in Schenectady
For Sale
$305,000
Pending
117-119 Odell Street, Schenectady, NY 12304
Remodeled side-by-side duplex with separate utilities and ample storage.
Property Size2,074 SF
Days on Market217
Property Features for 117-119 Odell Street
General Information
Standard status
Pending
Size
2,074 SF
Total Parking Spaces
2
Property subtype
Multi Family / Duplex
Taxes and HOA fees
Annual Taxes
$6,913
Amenities
Forced Air, Natural Gas, Yes
Full
Yes
Vinyl Siding
Back Yard, Fenced
Laundry Closet
Enclosed, Front Porch
Building Details
Year Built
1880
Listing Agency:
Realty One Group Key
(518) 688-6101
Listed By:
Tina Berlin · License #10401348077
(518) 688-6101
Source:
Compass
Added: Jan 6
Changed: Aug 8
Last Checked: Aug 10 at 10:12AM
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 is a side-by-side duplex located in Schenectady. The property has been remodeled and includes separate utilities. A fence separates the backyard. Both homes feature abundant natural light and plenty of storage. Off-street parking is available. The property is conveniently located near public transportation, highways, shopping, and local amenities. The property size is 2074 square feet. It offers an opportunity to build equity or generate rental income. Both units are currently vacant.
Key Highlights
- Remodeled duplex in a central Schenectady location
- Separate utilities for each unit
- Fenced backyard for privacy
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
Location Intelligence
Trade Area within ½ mile
813
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 - Remodeled side-by-side duplex with separate utilities and ample storage.
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: Remodeled duplex in a central Schenectady location; Separate utilities for each unit; Fenced backyard for privacy
