Two-Family Duplex with
For Sale
$499,000
22 Elder Street, Schenectady, NY 12304
Large two-family property in Schenectady’s Central State Street Neighborhood with substantial bedroom capacity and residential income use.
Property Size3,440 SF
Price / SF$145.06
Days on Market35
Property Features for 22 Elder Street
General Information
Standard status
Active
Size
3,440 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,198
Building Details
Year Built
1910
Listing Agency:
Buy N Sell Realty Inc
(518) 322-9877
Listed By:
Subhash D Sukhram
(518) 322-9877
Source:
Capmarkrealty
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 25 at 3:37AM
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 Buy N Sell Realty Inc
Investment Insights
Based on property information with market context.
Located at 22 Elder Street in Schenectady, this two-family duplex contains 3,440 square feet with 9 bedrooms and 2 full baths. The property also includes a 1-car garage, adding on-site vehicle storage to the residential layout.
Built in 1910, the property is situated in Schenectady’s Central State Street Neighborhood. Its two-family configuration and bedroom count define the asset as a residential income property with a substantial overall footprint.
Built in 1910, the property is situated in Schenectady’s Central State Street Neighborhood. Its two-family configuration and bedroom count define the asset as a residential income property with a substantial overall footprint.
Key Highlights
- Two‑family duplex configuration
- 3,440 square feet of building area
- 9 bedrooms and 2 full baths
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
$39,176
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
7.85%
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%
$783,520
$783.5K
Cap Rate 7%
$559,657
$559.7K
Cap Rate 9%
$435,289
$435.3K
Market Conditions
NOI Build-Up for 3,440 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
$59.9K $17.40/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$56.0K $16.27/SF
− OpEx
−$16.8K −$4.88/SF
NOI
$39.2K $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%
$783,520
Cap Rate 7%
$559,657
Cap Rate 9%
$435,289
Alternative Uses
Best Use
Multifamily LT 5
$559.7K
$489.7K – $652.9K
NOI $39,176 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$502.0K
$439.2K – $585.7K
NOI $35,139 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$1.03M
$900.9K – $1.20M
NOI $72,075 @ 7.0% cap · market cap 14.44%
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
875
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Large two-family property in Schenectady’s Central State Street Neighborhood with substantial bedroom capacity and residential income use.
Where is this duplex located?
The property is located at 22 Elder Street Schenectady, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑family duplex configuration; 3,440 square feet of building area; 9 bedrooms and 2 full baths
