Three-Unit Triplex
For Sale
$299,900
1562 Rugby Road, Schenectady, NY 12308
Residential Income, Schenectady, NY
Property Size2,249 SF
Lot Size0.19 Acres
Price / SF$133.35
Days on Market10
Property Features for 1562 Rugby Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4
Patio and Porch features
Porch
High school district
000000
Directions
Down Rugby on right. Away from Union College.
Standard status
Active
APN
421500 50.21-1-12
Size
2,249 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
7628
Utilities
Heating system
Electric (Heating), Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1920
Number of units
3
Flooring type
Carpet, Laminate, Hardwood
Building materials
Aluminum
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Christine M Serafini · License #40SE0980789
(518) 514-8830
Added: Sep 16
Changed: Sep 19
Last Checked: Sep 25 at 10:06PM
MLS# 11985077
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1562 Rugby Road in Schenectady, this 2,249-square-foot triplex dates to 1920 and contains three separately serviced residences. The unit mix includes a three-bedroom, one-bath apartment; a one-bedroom, one-bath apartment; and a two-story unit with two bedrooms and two baths. Interior finishes include carpet, hardwood, and laminate flooring, while heating is provided through hot water, electric, baseboard, and natural gas systems. The property also features aluminum construction and a porch.
Set on 0.19 acres, the property includes tenant parking for six cars. Public water serves the building, and water, sewer, and trash are included in the property taxes. Shopping, hospitals, downtown Schenectady, and bus service are identified nearby, providing access to several established local destinations and transportation options.
Set on 0.19 acres, the property includes tenant parking for six cars. Public water serves the building, and water, sewer, and trash are included in the property taxes. Shopping, hospitals, downtown Schenectady, and bus service are identified nearby, providing access to several established local destinations and transportation options.
Key Highlights
- Three‑unit triplex with 2,249 square feet of property size
- Unit mix includes 3‑bedroom, 1‑bath; 1‑bedroom, 1‑bath; and 2‑bedroom, 2‑bath residences
- Two‑story third unit with 2 bedrooms and 2 baths
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
$25,612
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
8.54%
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%
$512,240
$512.2K
Cap Rate 7%
$365,886
$365.9K
Cap Rate 9%
$284,578
$284.6K
Market Conditions
NOI Build-Up for 2,249 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
$39.1K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$36.6K $16.27/SF
− OpEx
−$11.0K −$4.88/SF
NOI
$25.6K $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%
$512,240
Cap Rate 7%
$365,886
Cap Rate 9%
$284,578
Alternative Uses
Best Use
Multifamily LT 5
$365.9K
$320.2K – $426.9K
NOI $25,612 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,973 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$673.2K
$589.0K – $785.4K
NOI $47,121 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
882
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
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?
Triplex - Three separately metered units with varied layouts, porch access, and tenant parking near shopping, hospitals, downtown, and bus service.
Where is this triplex located?
The property is located at 1562 Rugby Road Schenectady, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit triplex with 2,249 square feet of property size; Unit mix includes 3‑bedroom, 1‑bath; 1‑bedroom, 1‑bath; and 2‑bedroom, 2‑bath residences; Two‑story third unit with 2 bedrooms and 2 baths
