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Profitable Multifamily Investment Opportunity

1300 S Schodack Road Castleton, NY 12033

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Ten units across three buildings on a one-acre parcel.

Type:Multifamily, Land
Property size:
7,608 SF
Lot size:
1.00 Acre
Price / SF:
$170/SF
Added:
Mar 25, 2026
Days on Market:
111
Last Refresh:
Jun 28 at 12:42 am

Property Features for 1300 S Schodack Road

General Information

Standard status
Active
Size
7,608 SF
Lot size
1.00 Acre
Property subtype
Multifamily, Land

Building Details

Year Built
1840

Listing office Berkshire Hathaway HomeServices Blake, REALTORS Kinderhook

Listing date Mar 25, 2026

Source Crexi

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 Berkshire Hathaway HomeServices Blake, REALTORS Kinderhook


Investment Insights

Based on property information with market context.

This property features ten fully rented units across three buildings, generating a gross annual income of $150,000. Situated on a one-acre parcel, the property includes an original 1840 farmhouse, a side-by-side duplex, and a ranch-style building with four identical units. The farmhouse, comprising four units (three one-bedroom and one two-bedroom), has undergone significant renovations, including a new roof, siding, double-pane insulated windows, and refreshed interiors with paint, kitchens, baths, and vinyl flooring. The duplex features a new roof, double-pane windows, and rear decks, with each unit offering two bedrooms, a large living room, a good-sized kitchen, and ample closet space, along with updated paint, kitchens, baths, and new vinyl flooring. The ranch-style building contains four identical units, each with two bedrooms, large closets, sliding glass doors to the yard, and locked outside storage rooms; two of these units have been freshly painted with new flooring and kitchen and bath improvements. All ten units are equipped with two heat sources: natural gas hot air wall-mounted units and electric baseboards. Additional amenities include a coin-operated laundry room. The property provides ample off-street parking and green space, surrounded by farmland, and is located within 10 minutes of East Greenbush or Kinderhook and 15 minutes of Rensselaer and downtown Albany, within the Schodack school district. The property is intended for residential income purposes.

Key Highlights

  • High Gross Annual Income: $150,000 from 10 fully rented units.
  • Recent Major Improvements: New roofs, siding, windows, and interior renovations across all buildings.
  • Separate Utilities: Each unit has separate electricity, gas, and hot water.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $177.1k $23.28
− Vacancy −$9.2k −$1.21
EGI $167.9k $22.07
− OpEx −$75.6k −$9.93
NOI $92.3k $12.14
7,608 SF · lease $23.28/SF/yr · vacancy 5.20% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M (±1% cap)
NOI $92,347 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M (±1% cap)
NOI $133,131 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Electrical Service Computer & Electronic Repair Daycare Center Tech Support Center Food Market Nursing Home

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Apartment building - Ten units across three buildings on a one-acre parcel.
Where is this apartment building located?
The property is located at 1300 S Schodack Road Castleton, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: High Gross Annual Income: $150,000 from 10 fully rented units.; Recent Major Improvements: New roofs, siding, windows, and interior renovations across all buildings.; Separate Utilities: Each unit has separate electricity, gas, and hot water.
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