Two-Unit Duplex with
New
For Sale
$249,000
912 Strong St, Schenectady, NY 12307
Fully occupied duplex with two residential units, established tenants, and off-street parking on a double lot.
Property Size1,744 SF
Price / SF$142.78
Days on Market6
Property Features for 912 Strong St
General Information
Standard status
Active
Size
1,744 SF
Property subtype
Multi-Family
Building Details
Year Built
1937
Listing Agency:
Legacy Nine Realty
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 22 at 4:51PM
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 Legacy Nine Realty
Investment Insights
Based on property information with market context.
Built in 1937, this 1,744-square-foot duplex contains two residential units in an over-under configuration. Each unit includes a functional floor plan with a formal dining room, front porch, rear porch, and a mix of hardwood and luxury vinyl plank flooring. The property sits on a double lot that provides off-street parking, while both units are currently occupied by established long-term tenants.
The property is located at 912 Strong St in Schenectady, one block from the Schenectady School District, with access to I-890 and Downtown Schenectady. The two-unit layout, existing occupancy, porches, and parking combine to provide a clearly defined residential income property.
The property is located at 912 Strong St in Schenectady, one block from the Schenectady School District, with access to I-890 and Downtown Schenectady. The two-unit layout, existing occupancy, porches, and parking combine to provide a clearly defined residential income property.
Key Highlights
- Two‑unit over‑under duplex totaling 1,744 SF
- Built in 1937
- Fully occupied by established long‑term tenants
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
$19,861
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
7.98%
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%
$397,220
$397.2K
Cap Rate 7%
$283,729
$283.7K
Cap Rate 9%
$220,678
$220.7K
Market Conditions
NOI Build-Up for 1,744 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
$30.3K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.4K $16.27/SF
− OpEx
−$8.5K −$4.88/SF
NOI
$19.9K $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%
$397,220
Cap Rate 7%
$283,729
Cap Rate 9%
$220,678
Alternative Uses
Best Use
Multifamily LT 5
$283.7K
$248.3K – $331.0K
NOI $19,861 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$254.5K
$222.7K – $296.9K
NOI $17,815 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$522.0K
$456.8K – $609.0K
NOI $36,540 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
875
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
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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 - Fully occupied duplex with two residential units, established tenants, and off-street parking on a double lot.
Where is this duplex located?
The property is located at 912 Strong St Schenectady, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit over‑under duplex totaling 1,744 SF; Built in 1937; Fully occupied by established long‑term tenants
