4-Unit
For Sale
$360,000
1671 Broadway #1-4, Schenectady, NY 12306
The property is just beyond downtown Schenectady, near employers, entertainment, parks, shopping, and everyday services.
Property Size2,160 SF
Price / SF$166.67
Days on Market113
Property Features for 1671 Broadway #1-4
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,893
Building Details
Building Size
2,160 SF
Year Built
1900
Listing Agency:
Chad Majewski Real Estate
(518) 774-0437
Listed By:
Nicholas Rossi
(518) 441-6783
Source:
Chadmajewski
Added: Jul 17
Changed: Nov 4
Last Checked: Nov 6 at 4:45AM
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 Chad Majewski Real Estate
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 2,160 square feet and was built in 1900. It is located at 1671 Broadway in Schenectady, just outside downtown.
Nearby destinations named for the area include Rivers Casino, Proctors Theatre, Union College, parks, restaurants, and shopping. The property is also described as having access to major employers and everyday conveniences.
Nearby destinations named for the area include Rivers Casino, Proctors Theatre, Union College, parks, restaurants, and shopping. The property is also described as having access to major employers and everyday conveniences.
Key Highlights
- Four residential units
- 2,160 square feet
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,599
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,980
$492.0K
Cap Rate 7%
$351,414
$351.4K
Cap Rate 9%
$273,322
$273.3K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$37.6K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$35.1K $16.27/SF
− OpEx
−$10.5K −$4.88/SF
NOI
$24.6K $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 Rate 5%
$491,980
Cap Rate 7%
$351,414
Cap Rate 9%
$273,322
Alternative Uses
Best Use
Multifamily LT 5
$351.4K
$307.5K – $410.0K
NOI $24,599 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$315.2K
$275.8K – $367.7K
NOI $22,064 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$646.5K
$565.7K – $754.3K
NOI $45,256 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The property is just beyond downtown Schenectady, near employers, entertainment, parks, shopping, and everyday services.
Where is this quadplex located?
The property is located at 1671 Broadway #1-4 Schenectady, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Four residential units; 2,160 square feet; Built in 1900
