Brick Duplex with Private
New
For Sale
$299,999
2151 Lenox Road, Schenectady, NY 12308
MultiFamily, Schenectady, NY
Property Size1,907 SF
Lot Size0.40 Acres
Price / SF$157.31
Days on Market2
Property Features for 2151 Lenox Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking
6
Parking features
Garage, Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Garden
Fireplace
1
Basement
Finished, Partial
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Rosa Rd to Coplon, left on Desmond, right on Hendrickson to Lenox Rd
Standard status
Active
APN
421500 39.28-2-20
Size
1,907 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Annual Amount
7264
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Amenities
fireplace
cedar closet
balcony
large private fully fenced yard
two sheds
Building Details
Year built
1950
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Brick
Roof type
Rubber, Asbestos Shingle
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 439-4943
Listed By:
Ripon Roy · License #10401342044
(646) 752-1721
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 5:06AM
MLS# 202625425
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,907-square-foot duplex is a solid brick two-family property built in 1950, with recent updates and a well-maintained interior. The first-floor residence includes a fireplace, cedar closet, and a possible three-season room. Upstairs, a private balcony adds outdoor space to the second-floor unit. Hardwood and ceramic tile flooring, hot-water and baseboard heating, natural gas service, and public water and sewer support the residential layout.
The property occupies 0.4 acres at 2151 Lenox Road in Schenectady. Exterior features include a large fully fenced yard, garden space, a porch, two sheds, a garage, off-street parking, and a driveway. Steinmetz Park and the community garden are nearby, with Ellis Hospital, Union College, GE, KAPL, SI Group, Rivers Casino, shopping, dining, and entertainment also identified in the surrounding area.
The property occupies 0.4 acres at 2151 Lenox Road in Schenectady. Exterior features include a large fully fenced yard, garden space, a porch, two sheds, a garage, off-street parking, and a driveway. Steinmetz Park and the community garden are nearby, with Ellis Hospital, Union College, GE, KAPL, SI Group, Rivers Casino, shopping, dining, and entertainment also identified in the surrounding area.
Key Highlights
- 1,907 square feet on a 0.4‑acre lot
- Legal two‑family duplex with solid brick construction
- Built in 1950 with recent updates
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 - Legal two-family property with recent updates, separate living areas, outdoor storage, and a fully fenced yard.
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: 1,907 square feet on a 0.4‑acre lot; Legal two‑family duplex with solid brick construction; Built in 1950 with recent updates
