Renovated Duplex with Off-Street
For Sale
$240,000
1331 Hodgson Street, Schenectady, NY 12303
Updated two-unit property with separate utilities, refreshed interiors, porches, and a fenced backyard.
Property Size1,518 SF
Price / SF$158.10
Days on Market259
Property Features for 1331 Hodgson Street
General Information
Standard status
Active
Size
1,518 SF
Total Parking Spaces
5
Property subtype
Multi Family / Duplex
Zoning
Multi Residence
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,118
Amenities
new appliances
new carpeting
driveway
fenced backyard
front and back porches
large dry basement
walk-up attic
Shingle
None, No
Forced Air, Natural Gas, Yes
Full, Unfinished
Circuit Breakers
Vinyl, Carpet
Built-in Features
Block
Yes
Vinyl Siding
Back Yard, Fenced
Double Pane Windows
Carbon Monoxide Detector(s)
Rear Porch, Front Porch
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Miranda Real Estate Group Inc
(518) 698-5669
Listed By:
Christopher Maley · License #10401362298
(518) 698-5669
Source:
Compass
Added: Dec 14, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:17PM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This duplex includes two residential units with separate utilities and updated interior systems. Recent improvements include a new roof, two new heating systems, electrical and plumbing upgrades, replacement windows, refreshed kitchens with new appliances, and renovated bathrooms. Living rooms feature new carpeting, while the property also offers front and rear porches, a fully fenced backyard, and a newly improved driveway for off-street parking.
The full unfinished basement and walk-up attic provide additional storage. Built in 1915, the property has vinyl siding, double-pane windows, forced-air natural gas heat, circuit breakers, and built-in features. It is located at 1331 Hodgson Street in Schenectady, near stores, schools, and I-890. The property is zoned Multi Residence.
The full unfinished basement and walk-up attic provide additional storage. Built in 1915, the property has vinyl siding, double-pane windows, forced-air natural gas heat, circuit breakers, and built-in features. It is located at 1331 Hodgson Street in Schenectady, near stores, schools, and I-890. The property is zoned Multi Residence.
Key Highlights
- Duplex with separate utilities and two new heating systems
- New roof plus updated electrical, plumbing, windows, kitchens, and bathrooms
- New kitchen appliances and renovated bathroom finishes in both units
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
$17,287
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
7.20%
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%
$345,740
$345.7K
Cap Rate 7%
$246,957
$247.0K
Cap Rate 9%
$192,078
$192.1K
Market Conditions
NOI Build-Up for 1,518 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
$26.4K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$24.7K $16.27/SF
− OpEx
−$7.4K −$4.88/SF
NOI
$17.3K $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%
$345,740
Cap Rate 7%
$246,957
Cap Rate 9%
$192,078
Alternative Uses
Best Use
Multifamily LT 5
$247.0K
$216.1K – $288.1K
NOI $17,287 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$221.5K
$193.8K – $258.4K
NOI $15,506 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$454.4K
$397.6K – $530.1K
NOI $31,805 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
438
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 - Updated two-unit property with separate utilities, refreshed interiors, porches, and a fenced backyard.
Where is this duplex located?
The property is located at 1331 Hodgson Street Schenectady, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Duplex with separate utilities and two new heating systems; New roof plus updated electrical, plumbing, windows, kitchens, and bathrooms; New kitchen appliances and renovated bathroom finishes in both units
