Up-and-Down Duplex
For Sale
$299,900
218 Cherry Street, Schenectady, NY 12306
Well-maintained two-flat duplex with tenant-occupied units, covered porches, a rear deck, and off-street parking.
Property Size2,600 SF
Price / SF$115.35
Days on Market115
Property Features for 218 Cherry Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
covered front porches
rear deck
large level backyard
off-street parking
Building Details
Year Built
1900
Listing Agency:
KW Platform
Listed By:
Dominick Ieraci
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jun 3
Changed: Sep 24
Last Checked: Sep 24 at 10:26AM
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 KW Platform
Investment Insights
Based on property information with market context.
This well-maintained up-and-down duplex offers two separate flats with a comfortable, functional layout. Classic columns separate the living and dining rooms, and both units feature generous eat-in kitchens with walk-in pantry closets. Interior finishes include original hardwood floors along with some newer laminate flooring.
Unit one includes 2 bedrooms. The oversized unit two features 5 bedrooms, including two private bedrooms and a full bath located on the finished third-floor area. The property has been well cared for, with newer vinyl siding, some newer replacement windows, and attractive covered front porches serving both the first- and second-floor units.
Additional outdoor features include a rear deck overlooking a large, level backyard, plus off-street parking. Both units are tenant-occupied, providing immediate rental income. The property is located at 218 Cherry Street, Schenectady, NY 12306.
Unit one includes 2 bedrooms. The oversized unit two features 5 bedrooms, including two private bedrooms and a full bath located on the finished third-floor area. The property has been well cared for, with newer vinyl siding, some newer replacement windows, and attractive covered front porches serving both the first- and second-floor units.
Additional outdoor features include a rear deck overlooking a large, level backyard, plus off-street parking. Both units are tenant-occupied, providing immediate rental income. The property is located at 218 Cherry Street, Schenectady, NY 12306.
Key Highlights
- Well‑maintained up‑and‑down two‑flat duplex built in 1900
- Both units are tenant‑occupied, providing immediate rental income
- Unit 1 has 2 bedrooms; unit 2 has 5 bedrooms including two private bedrooms and a full bath
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
$26,559
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
8.86%
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%
$531,180
$531.2K
Cap Rate 7%
$379,414
$379.4K
Cap Rate 9%
$295,100
$295.1K
Market Conditions
NOI Build-Up for 2,600 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
$51.5K $19.80/SF
− Vacancy
−$3.2K −$1.23/SF
EGI
$48.3K $18.57/SF
− OpEx
−$21.7K −$8.36/SF
NOI
$26.6K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$531,180
Cap Rate 7%
$379,414
Cap Rate 9%
$295,100
Alternative Uses
Best Use
Multifamily LT 5
$423.0K
$370.1K – $493.5K
NOI $29,610 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$379.4K
$332.0K – $442.7K
NOI $26,559 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$778.2K
$680.9K – $907.9K
NOI $54,475 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
304
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-flat duplex with tenant-occupied units, covered porches, a rear deck, and off-street parking.
Where is this duplex located?
The property is located at 218 Cherry Street Schenectady, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Well‑maintained up‑and‑down two‑flat duplex built in 1900; Both units are tenant‑occupied, providing immediate rental income; Unit 1 has 2 bedrooms; unit 2 has 5 bedrooms including two private bedrooms and a full bath
