Brick Two-Family
For Sale
$260,000
1508 Foster Avenue, Schenectady, NY 12308
Two separate units feature distinct layouts, individual utilities, and off-street parking.
Property Size2,272 SF
Price / SF$114.44
Days on Market9
Property Features for 1508 Foster Avenue
General Information
Standard status
Active
Size
2,272 SF
Property subtype
Multi-family
Units
Unit Mix
2BR, 3BR/1BA
Multifamily Units
2
Amenities
off-street parking
laundry
backyard
granite counters
Building Details
Year Built
1910
Construction
brick
Listing Agency:
Jannah Realty LLC
Listed By:
Shiju Salahudeen · License #10491211216
(518) 253-8878
Source:
Signatureonerealtygroup
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 12 at 8:15PM
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 Jannah Realty LLC
Investment Insights
Based on property information with market context.
Built in 1910, this 2,272-square-foot brick duplex contains two residential units. The lower apartment has two bedrooms, a kitchen with granite counters and a black-and-stainless range, plus a tiled bathroom with laundry. The upper apartment provides three bedrooms and one bathroom.
Separate utilities serve the units. The property also includes a backyard and a driveway for off-street parking, with a college and hospital nearby.
Separate utilities serve the units. The property also includes a backyard and a driveway for off-street parking, with a college and hospital nearby.
Key Highlights
- 2,272‑square‑foot brick duplex built in 1910
- Two units with separate utilities
- First‑floor unit has 2 bedrooms, granite kitchen counters, range, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,208
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,160
$464.2K
Cap Rate 7%
$331,543
$331.5K
Cap Rate 9%
$257,867
$257.9K
Market Conditions
NOI Build-Up for 2,272 SF
Gross rent
$45.0K $19.80/SF
− Vacancy
−$2.8K −$1.23/SF
EGI
$42.2K $18.57/SF
− OpEx
−$19.0K −$8.36/SF
NOI
$23.2K $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 Rate 5%
$464,160
Cap Rate 7%
$331,543
Cap Rate 9%
$257,867
Alternative Uses
Best Use
Multifamily LT 5
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$331.5K
$290.1K – $386.8K
NOI $23,208 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$680.0K
$595.0K – $793.4K
NOI $47,603 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
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 - Two separate units feature distinct layouts, individual utilities, and off-street parking.
Where is this duplex located?
The property is located at 1508 Foster Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2,272‑square‑foot brick duplex built in 1910; Two units with separate utilities; First‑floor unit has 2 bedrooms, granite kitchen counters, range, and in‑unit laundry
