Side-by-Side
For Sale
$290,000
465 Hulett St, Schenectady, NY 12307
The duplex has side-by-side units and updates to major building systems.
Property Size2,508 SF
Price / SF$115.63
Days on Market15
Property Features for 465 Hulett St
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Schermerhorn Realty Group LLC
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 9
Changed: Sep 21
Last Checked: Sep 22 at 4:18PM
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 Schermerhorn Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1900, this duplex is arranged as two side-by-side residences, providing each unit with its own distinct layout. The property encompasses 2,508 square feet and has received updates to the electrical, plumbing, roofing, siding, and windows.
Located at 465 Hulett St in Schenectady, the property offers a residential income configuration suited to duplex ownership and occupancy.
Located at 465 Hulett St in Schenectady, the property offers a residential income configuration suited to duplex ownership and occupancy.
Key Highlights
- Side‑by‑side duplex configuration
- 2,508 square feet of property size
- Electrical, plumbing, roof, siding, and window updates
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
$25,619
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
8.83%
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%
$512,380
$512.4K
Cap Rate 7%
$365,986
$366.0K
Cap Rate 9%
$284,656
$284.7K
Market Conditions
NOI Build-Up for 2,508 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
$49.7K $19.80/SF
− Vacancy
−$3.1K −$1.23/SF
EGI
$46.6K $18.57/SF
− OpEx
−$21.0K −$8.36/SF
NOI
$25.6K $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%
$512,380
Cap Rate 7%
$365,986
Cap Rate 9%
$284,656
Alternative Uses
Best Use
Multifamily LT 5
$408.0K
$357.0K – $476.0K
NOI $28,562 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$366.0K
$320.2K – $427.0K
NOI $25,619 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$750.7K
$656.9K – $875.8K
NOI $52,548 @ 7.0% cap · market cap 18.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 12307, NY
7,567
Population
3,491
Households
2.2
Avg Household Size
32
Median Age
14%
College-Educated
74%
High-School Grad
0.7 sq mi
ZIP Area
10,810
Density / Sq Mi
$33,191
Median Household Income
$28,878
Median Earnings
$1,110
Median Rent
$95,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The duplex has side-by-side units and updates to major building systems.
Where is this duplex located?
The property is located at 465 Hulett St Schenectady, NY.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Side‑by‑side duplex configuration; 2,508 square feet of property size; Electrical, plumbing, roof, siding, and window updates
