Two-Family Residential Income
For Sale
$167,500
Pending
1214 5th Avenue, Schenectady, NY 12303
MULTI_FAMILY - Other - Schenectady, NY
Property Size1,168 SF
Lot Size0.08 Acres
Days on Market67
Property Features for 1214 5th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1
Parking
2
Parking features
Driveway
Patio and Porch features
Porch
Basement
Full
Subdivision
Mont Pleasant
Lot features
Level
View
City
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Congress st to 5th ave
Standard status
Pending
APN
421500 49.54-5-6
Size
1,168 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3261
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1940
Number of units
2
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Howard Hanna Capital Inc
(518) 370-3170
Listed By:
George T Tomaselli · License #30TO0245901
(518) 356-2779
Added: Jun 14
Changed: Jul 24
Last Checked: Aug 19 at 3:06PM
MLS# 202619680
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 two-family residential property is presented with separate utilities for each unit. The downstairs unit is currently vacant, providing immediate possession. Both units include a range and refrigerator, supporting ready-to-occupy functionality with minimal interim setup.
The property is located at 1214 5th Avenue in Schenectady, NY 12303, within Multi Residence zoning. The lot size is listed at 0.08 acres, and the total property size is 1,168 square feet.
For buyers looking to invest, the vacant downstairs unit may support straightforward leasing operations while keeping the upstairs unit in place. For owner-occupants, the configuration can also work for living in one unit while renting the other, or for use as a single-family residence with an in-law arrangement. The seller notes the home can be shown easily.
The property is located at 1214 5th Avenue in Schenectady, NY 12303, within Multi Residence zoning. The lot size is listed at 0.08 acres, and the total property size is 1,168 square feet.
For buyers looking to invest, the vacant downstairs unit may support straightforward leasing operations while keeping the upstairs unit in place. For owner-occupants, the configuration can also work for living in one unit while renting the other, or for use as a single-family residence with an in-law arrangement. The seller notes the home can be shown easily.
Key Highlights
- 2‑family setup with separate utilities; downstairs unit is currently vacant
- Immediate possession and easy to show
- Range and refrigerator included for both levels
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
$13,302
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
7.94%
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%
$266,040
$266.0K
Cap Rate 7%
$190,029
$190.0K
Cap Rate 9%
$147,800
$147.8K
Market Conditions
NOI Build-Up for 1,168 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
$20.3K $17.40/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$19.0K $16.27/SF
− OpEx
−$5.7K −$4.88/SF
NOI
$13.3K $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%
$266,040
Cap Rate 7%
$190,029
Cap Rate 9%
$147,800
Alternative Uses
Best Use
Multifamily LT 5
$190.0K
$166.3K – $221.7K
NOI $13,302 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$170.4K
$149.1K – $198.9K
NOI $11,931 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$349.6K
$305.9K – $407.9K
NOI $24,472 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
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
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-unit setup with separate utilities and immediate possession, offering options for investment or owner occupancy.
Where is this duplex located?
The property is located at 1214 5th Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $167,500.
What are key features of this property?
This property features: 2‑family setup with separate utilities; downstairs unit is currently vacant; Immediate possession and easy to show; Range and refrigerator included for both levels
