Profitable Multifamily Investment
1300 S Schodack Road, Castleton, NY 12033
Ten units across three buildings on a one-acre parcel.
Type:Multifamily, Land
Property size:
7,608 SFLot size:
1.00 AcrePrice / SF:
$170/SF- Added:
- Mar 25, 2026
- Days on Market:
- 65
- Last Refresh:
- May 14 at 9:38 pm
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 agent Karen Sheffer License #40SH1148521
Listing office Berkshire Hathaway HomeService
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 HomeService
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.
- Multiple Buildings: Includes a renovated 1840 Farmhouse (4 units), a Duplex, and a Ranch building (4 units).
- Two Heat Sources: Each unit has natural gas hot air and electric baseboard heat.
- Large 1‑Acre Parcel: Offers ample off‑street parking and green space in a peaceful, rural setting.
Overview
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.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.03M
NOI $92,347 @ 9.00% cap · cautious / downside scenario
Moderate
$1.32M
NOI $92,347 @ 7.00% cap · market / base-case scenario
Aggressive
$1.85M
NOI $92,347 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 Use Scenarios
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
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
NOI $133,131 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Castleton
- County
- Rensselaer
- State
- New York
- Longitude
- -73.705357
- Latitude
- 42.512089
Nearby Similar for Sale
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.
