Renovated Two-Unit
For Sale
$399,900
Pending
12 Lomasney Avenue, Schenectady, NY 12308
Vacant property with updated systems, enclosed porches, detached garage, driveway, and a large backyard.
Property Size2,418 SF
Days on Market53
Property Features for 12 Lomasney Avenue
General Information
Standard status
Pending
Size
2,418 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,633
Amenities
enclosed front porch
enclosed rear porch
detached garage
driveway
large backyard
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Golden Doors Realty Corp
(212) 920-5624
Listed By:
Ravi Ramnarine
(212) 920-5624
Source:
Capmarkrealty
Added: Jul 11
Changed: Aug 31
Last Checked: Aug 31 at 12:50PM
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 Golden Doors Realty Corp
Investment Insights
Based on property information with market context.
This 2,418-square-foot duplex contains two stacked units, each arranged with three bedrooms and one bathroom. The interior was rebuilt from the studs, with new insulation, plumbing, electrical service and panel, hot water tank, boiler, roof, and doors. Kitchens and bathrooms include custom cabinetry, modern fixtures, stainless steel appliances, quartz counters, marble and ceramic tile, and walk-in pantry space. Replacement windows were installed by the prior owner. Enclosed front and rear porches add usable areas to both units.
The property includes a detached oversized garage, driveway, and large backyard. It is situated on a quiet dead-end street near Union St and N Brandywine, with access to shopping, dining, and transportation. The building will be delivered vacant and is being sold as-is. Built in 1925.
The property includes a detached oversized garage, driveway, and large backyard. It is situated on a quiet dead-end street near Union St and N Brandywine, with access to shopping, dining, and transportation. The building will be delivered vacant and is being sold as-is. Built in 1925.
Key Highlights
- Two‑unit duplex totaling 2,418 SF
- Each unit offers 3 bedrooms and 1 bathroom
- Interior rebuilt from the studs with updated insulation, plumbing, electrical, boiler, roof, and doors
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
$27,537
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
6.89%
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%
$550,740
$550.7K
Cap Rate 7%
$393,386
$393.4K
Cap Rate 9%
$305,967
$306.0K
Market Conditions
NOI Build-Up for 2,418 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
$42.1K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$39.3K $16.27/SF
− OpEx
−$11.8K −$4.88/SF
NOI
$27.5K $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%
$550,740
Cap Rate 7%
$393,386
Cap Rate 9%
$305,967
Alternative Uses
Best Use
Multifamily LT 5
$393.4K
$344.2K – $459.0K
NOI $27,537 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$352.8K
$308.7K – $411.7K
NOI $24,699 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$723.7K
$633.3K – $844.4K
NOI $50,662 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,082
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?
Duplex - Vacant property with updated systems, enclosed porches, detached garage, driveway, and a large backyard.
Where is this duplex located?
The property is located at 12 Lomasney Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,418 SF; Each unit offers 3 bedrooms and 1 bathroom; Interior rebuilt from the studs with updated insulation, plumbing, electrical, boiler, roof, and doors
