Multifamily Property with Multiple
New
For Sale
$339,900
124 Degraff Street, Schenectady, NY 12308
Built in 1880, the property provides a multi-unit residential configuration near shopping, dining, and schools.
Property Size2,571 SF
Price / SF$132.21
Days on Market3
Property Features for 124 Degraff Street
General Information
Standard status
Active
Size
2,571 SF
Property subtype
Multi-family
Building Details
Year Built
1880
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Paul A Friello · License #2556
(518) 640-4706
Source:
Signatureonerealtygroup
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 6:28PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This multifamily property at 124 Degraff Street comprises multiple residential units within an 1880-built structure. The configuration supports a range of residential occupancy arrangements, subject to applicable property and use requirements.
The property is located in Schenectady, NY 12308, near shopping, dining, schools, and other local amenities. Its established residential setting provides convenient proximity to everyday services and community destinations.
The property is located in Schenectady, NY 12308, near shopping, dining, schools, and other local amenities. Its established residential setting provides convenient proximity to everyday services and community destinations.
Key Highlights
- Multiple‑unit multifamily property
- 1880 construction
- Located at 124 Degraff Street, Schenectady, NY 12308
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
$26,262
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
7.73%
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%
$525,240
$525.2K
Cap Rate 7%
$375,171
$375.2K
Cap Rate 9%
$291,800
$291.8K
Market Conditions
NOI Build-Up for 2,571 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
$50.9K $19.80/SF
− Vacancy
−$3.2K −$1.23/SF
EGI
$47.7K $18.57/SF
− OpEx
−$21.5K −$8.36/SF
NOI
$26.3K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$525,240
Cap Rate 7%
$375,171
Cap Rate 9%
$291,800
Alternative Uses
Best Use
Apartment 5plus
$375.2K
$328.3K – $437.7K
NOI $26,262 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$769.5K
$673.4K – $897.8K
NOI $53,868 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,782
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?
Multifamily property - Built in 1880, the property provides a multi-unit residential configuration near shopping, dining, and schools.
Where is this multifamily property located?
The property is located at 124 Degraff Street Schenectady, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Multiple‑unit multifamily property; 1880 construction; Located at 124 Degraff Street, Schenectady, NY 12308
