Two-Unit Duplex with Updated
For Sale
$229,900
17 Frank St, Schenectady, NY 12304
Multi-residence property with separate apartment layouts, laundry hookups, and a backyard.
Property Size1,659 SF
Price / SF$138.58
Days on Market51
Property Features for 17 Frank St
General Information
Standard status
Active
Size
1,659 SF
Property subtype
Multi-Family
Units
Unit Mix
2BR/1BA, 1BR/1BA
Multifamily Units
2
Amenities
washer/dryer hookup
backyard
Building Details
Year Built
1910
Listing Agency:
Howard Hanna Capital Inc
(518) 669-1804
Listed By:
Michael Field · License #10401287760
(518) 669-1804
Source:
Fieldrealty
Added: Jul 11
Changed: Aug 28
Last Checked: Aug 29 at 8:56AM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 1910 duplex contains two separate apartments with a combined property size of 1,659 square feet. The first-floor residence offers two bedrooms, a living room, dining area, full bathroom, and a laundry room with washer and dryer hookups. The upper apartment includes one bedroom, living room, dining area, full bathroom, and its own laundry room with washer and dryer connections. Both units have received new flooring, while the second-floor boiler and both hot water tanks were recently replaced.
The property is zoned Multi Residence and includes a backyard. Located at 17 Frank Street in Schenectady, the home is near shopping and highways, providing access to established retail and transportation routes.
The property is zoned Multi Residence and includes a backyard. Located at 17 Frank Street in Schenectady, the home is near shopping and highways, providing access to established retail and transportation routes.
Key Highlights
- Two separate apartments with 2‑bedroom and 1‑bedroom layouts
- 1,659 square feet of total property size
- 1910 construction with Multi Residence zoning
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
$18,893
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
8.22%
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%
$377,860
$377.9K
Cap Rate 7%
$269,900
$269.9K
Cap Rate 9%
$209,922
$209.9K
Market Conditions
NOI Build-Up for 1,659 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
$28.9K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.0K $16.27/SF
− OpEx
−$8.1K −$4.88/SF
NOI
$18.9K $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%
$377,860
Cap Rate 7%
$269,900
Cap Rate 9%
$209,922
Alternative Uses
Best Use
Multifamily LT 5
$269.9K
$236.2K – $314.9K
NOI $18,893 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,946 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$496.6K
$434.5K – $579.3K
NOI $34,759 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
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 - Multi-residence property with separate apartment layouts, laundry hookups, and a backyard.
Where is this duplex located?
The property is located at 17 Frank St Schenectady, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two separate apartments with 2‑bedroom and 1‑bedroom layouts; 1,659 square feet of total property size; 1910 construction with Multi Residence zoning
