Brick Two-Family
New
For Sale
$299,999
2151 Lenox Road, Schenectady, NY 12308
Updated two-unit residence with a fenced yard, balcony, fireplace, and two storage sheds.
Property Size1,907 SF
Price / SF$157.31
Days on Market5
Property Features for 2151 Lenox Road
General Information
Standard status
Active
Size
1,907 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
fireplace
cedar closet
three-season room
balcony
large private yard
two sheds
Building Details
Year Built
1950
Buildings
1
Construction
brick
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Ripon Roy · License #10401342044
(646) 752-1721
Source:
Signatureonerealtygroup
Added: Sep 3
Changed: Sep 6
Last Checked: Sep 6 at 10:00AM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
This legal two-family duplex contains 1,907 square feet and was built in 1950. The solid brick property has received recent updates and includes distinct features across both levels, including a fireplace and cedar closet on the first floor and a balcony on the second. A possible three-season room adds another flexible area.
The exterior provides a large, private, fully fenced yard along with two sheds for storage. The property is near Steinmetz Park and the community garden, with Ellis Hospital, Union College, GE, KAPL, SI Group, Rivers Casino, shopping, dining, and entertainment also identified in the surrounding area.
Its two-unit configuration supports a range of residential arrangements, including owner occupancy, multigenerational use, or rental occupancy.
The exterior provides a large, private, fully fenced yard along with two sheds for storage. The property is near Steinmetz Park and the community garden, with Ellis Hospital, Union College, GE, KAPL, SI Group, Rivers Casino, shopping, dining, and entertainment also identified in the surrounding area.
Its two-unit configuration supports a range of residential arrangements, including owner occupancy, multigenerational use, or rental occupancy.
Key Highlights
- Legal two‑family duplex with 1,907 square feet
- Solid brick construction, built in 1950
- Large, fully fenced private yard
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
$21,717
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
7.24%
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%
$434,340
$434.3K
Cap Rate 7%
$310,243
$310.2K
Cap Rate 9%
$241,300
$241.3K
Market Conditions
NOI Build-Up for 1,907 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
$33.2K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$31.0K $16.27/SF
− OpEx
−$9.3K −$4.88/SF
NOI
$21.7K $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%
$434,340
Cap Rate 7%
$310,243
Cap Rate 9%
$241,300
Alternative Uses
Best Use
Multifamily LT 5
$310.2K
$271.5K – $362.0K
NOI $21,717 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$278.3K
$243.5K – $324.7K
NOI $19,480 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$570.8K
$499.4K – $665.9K
NOI $39,955 @ 7.0% cap · market cap 13.32%
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
354
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
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 - Updated two-unit residence with a fenced yard, balcony, fireplace, and two storage sheds.
Where is this duplex located?
The property is located at 2151 Lenox Road Schenectady, NY.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Legal two‑family duplex with 1,907 square feet; Solid brick construction, built in 1950; Large, fully fenced private yard
