Duplex with Finished
For Sale
$429,250
162 Putnam Road, Schenectady, NY 12306
Two separate living units include an attached garage and a renovated second unit.
Property Size2,132 SF
Lot Size0.46 Acres
Price / SF$201.34
Days on Market11
Property Features for 162 Putnam Road
General Information
Standard status
Active
Size
2,132 SF
Total Parking Spaces
2
Lot size
0.46 Acres
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1988
Listing Agency:
The Greene Realty Group
Listed By:
Derek Greene
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 9
Changed: Aug 19
Last Checked: Aug 19 at 10:20AM
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 The Greene Realty Group
Investment Insights
Based on property information with market context.
This duplex contains 2,132 square feet with two distinct living units, an attached two-car garage, and two full finished basements. The second unit has been updated with new carpeting, kitchen cabinets, and doors. The property also includes a backyard and sits on a 0.46-acre lot.
Located at 162 Putnam Road in Schenectady, the property is within the Schalmont School District and near major highways, shopping, and local amenities. Its two-unit configuration supports rental use, owner occupancy, or multigenerational living.
Located at 162 Putnam Road in Schenectady, the property is within the Schalmont School District and near major highways, shopping, and local amenities. Its two-unit configuration supports rental use, owner occupancy, or multigenerational living.
Key Highlights
- Two‑unit duplex totaling 2,132 square feet
- 0.46‑acre lot with a large backyard
- Attached two‑car garage
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
$24,280
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
5.66%
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%
$485,600
$485.6K
Cap Rate 7%
$346,857
$346.9K
Cap Rate 9%
$269,778
$269.8K
Market Conditions
NOI Build-Up for 2,132 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
$37.1K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$34.7K $16.27/SF
− OpEx
−$10.4K −$4.88/SF
NOI
$24.3K $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%
$485,600
Cap Rate 7%
$346,857
Cap Rate 9%
$269,778
Alternative Uses
Best Use
Multifamily LT 5
$346.9K
$303.5K – $404.7K
NOI $24,280 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$311.1K
$272.2K – $363.0K
NOI $21,778 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$638.1K
$558.4K – $744.5K
NOI $44,670 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Explore this area
Business Placement
Demographics for 12306, NY
26,935
Population
12,481
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
43.9 sq mi
ZIP Area
614
Density / Sq Mi
$80,583
Median Household Income
$46,702
Median Earnings
$1,221
Median Rent
$212,700
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 - Two separate living units include an attached garage and a renovated second unit.
Where is this duplex located?
The property is located at 162 Putnam Road Schenectady, NY.
What is the asking price?
The asking price for this property is $429,250.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,132 square feet; 0.46‑acre lot with a large backyard; Attached two‑car garage
