Triplex with Finished
1209 3rd Avenue, Schenectady, NY 12303
For Sale
$375,000
Updated kitchens, baths, flooring, and lighting accompany varied unit layouts and private entrances.
Property Size2,547 SF
Price / SF$147.23
Days on Market142
Property Features for 1209 3rd Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Walk-In Closet(s)
Ceramic Tile Bath
Paddle Fan
Building Details
Building Size
Year Built
Listing Agency:
Mohawk Valley Realty Ventures LLC
Listed By:
Deborah L Fontes
(518) 596-2273
Source:
Krutz-properties
Added: Jun 25
Changed: Nov 13
Last Checked: Nov 13 at 6:56PM
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 Mohawk Valley Realty Ventures LLC
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Investment Insights
Based on property information with market context.
This 2,547-square-foot triplex contains three units and was built in 1900. Improvements include updated kitchens, bathrooms, flooring, and lighting. The first-floor apartment connects to a finished basement with a full bath, washer and dryer, and bar area. The first- and second-floor units have private front entrances, sizable bedrooms, and ample closet space. The third-floor efficiency has two large rooms and a bathroom; one room can be divided into two smaller spaces.
Parking is available along a long private driveway and in a garage. Alley access leads to the backyard. The property is near Crane Street.
Parking is available along a long private driveway and in a garage. Alley access leads to the backyard. The property is near Crane Street.
Key Highlights
- Three‑unit property with 2,547 square feet; built in 1900
- Renovations include kitchens, baths, flooring, and lighting
- Finished basement includes a full bath, washer and dryer, and bar area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,006
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,120
$580.1K
Cap Rate 7%
$414,371
$414.4K
Cap Rate 9%
$322,289
$322.3K
Market Conditions
NOI Build-Up for 2,547 SF
Gross rent
$44.3K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.4K $16.27/SF
− OpEx
−$12.4K −$4.88/SF
NOI
$29.0K $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 Rate 5%
$580,120
Cap Rate 7%
$414,371
Cap Rate 9%
$322,289
Alternative Uses
Best Use
Multifamily LT 5
$414.4K
$362.6K – $483.4K
NOI $29,006 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$371.7K
$325.2K – $433.6K
NOI $26,017 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$762.4K
$667.1K – $889.4K
NOI $53,365 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
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Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Schenectady, NY
Properties on Market for Triplexes in Schenectady
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Updated kitchens, baths, flooring, and lighting accompany varied unit layouts and private entrances.
Where is this triplex located?
The property is located at 1209 3rd Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit property with 2,547 square feet; built in 1900; Renovations include kitchens, baths, flooring, and lighting; Finished basement includes a full bath, washer and dryer, and bar area
