Vacant Two-Unit
New
For Sale
$289,900
1928 Broad St, Schenectady, NY 12306
The property offers two-bedroom apartments, private off-street parking, and immediate occupancy flexibility.
Property Size1,920 SF
Price / SF$150.99
Days on Market3
Property Features for 1928 Broad St
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1928
Listing Agency:
Country Boy Realty
(518) 861-7016
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 2:49PM
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 Country Boy Realty
Investment Insights
Based on property information with market context.
This vacant duplex contains 1920 square feet and was built in 1928. Each apartment features 2 bedrooms, while the first-floor unit has undergone renovation that includes a new bathroom. A partially finished basement adds usable interior space.
The property includes a private driveway, an oversized 2-car garage, and a carport, providing multiple off-street parking options. It sits on a large lot along Broad Street near the Schenectady/Rotterdam border in the Bellevue neighborhood. Shopping, restaurants, schools, parks, and a bus line are located nearby.
The property includes a private driveway, an oversized 2-car garage, and a carport, providing multiple off-street parking options. It sits on a large lot along Broad Street near the Schenectady/Rotterdam border in the Bellevue neighborhood. Shopping, restaurants, schools, parks, and a bus line are located nearby.
Key Highlights
- Vacant two‑unit property with 2 bedrooms in each apartment
- 1920 square feet; built in 1928
- First‑floor apartment renovated with a new bathroom
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
$21,866
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
7.54%
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%
$437,320
$437.3K
Cap Rate 7%
$312,371
$312.4K
Cap Rate 9%
$242,956
$243.0K
Market Conditions
NOI Build-Up for 1,920 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
$33.4K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$31.2K $16.27/SF
− OpEx
−$9.4K −$4.88/SF
NOI
$21.9K $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%
$437,320
Cap Rate 7%
$312,371
Cap Rate 9%
$242,956
Alternative Uses
Best Use
Multifamily LT 5
$312.4K
$273.3K – $364.4K
NOI $21,866 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$280.2K
$245.2K – $326.9K
NOI $19,612 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$574.7K
$502.9K – $670.5K
NOI $40,228 @ 7.0% cap · market cap 13.88%
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
452
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 - The property offers two-bedroom apartments, private off-street parking, and immediate occupancy flexibility.
Where is this duplex located?
The property is located at 1928 Broad St Schenectady, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Vacant two‑unit property with 2 bedrooms in each apartment; 1920 square feet; built in 1928; First‑floor apartment renovated with a new bathroom
