Three-Unit Residential Income
For Sale
$325,000
Pending
2237 Ghents Road, Schenectady, NY 12306
MULTI_FAMILY - Schenectady, NY
Property Size2,330 SF
Lot Size0.76 Acres
Days on Market242
Property Features for 2237 Ghents Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Multi Residence
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 7, Bathroom 1
Parking
6
Parking features
Garage
Lot features
Level
Elementary school district
Mohonasen
Middle school district
Mohonasen
High school district
Mohonasen
Directions
Helderberg ave to right on Ghents rd
Standard status
Pending
APN
422800 70.8-1-12
Size
2,330 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Annual Amount
6511
Utilities
Sewer type
Septic Tank
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1950
Number of units
3
Building materials
Aluminum Siding
Roof type
Asphalt
Listing Agency:
Howard Hanna Capital Inc
(518) 370-3170
Listed By:
George T Tomaselli · License #30TO0245901
(518) 356-2779
Added: Dec 20, 2025
Changed: Jul 24
Last Checked: Aug 19 at 2:06PM
MLS# 202531028
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 three-unit residential income property is set up as separate, self-contained living spaces. Each unit has its own utility setup, with C/breakers and 100-amp service, and each includes washer and dryer hookups located in the garage. The property also features replaced windows, supporting improved building performance and reduced near-term exterior maintenance. A private setting and a two-car garage add practical storage and convenience.
The property is located at 2237 Ghents Road in Schenectady, NY, within Multi Residence zoning. The listing notes that tenants are on month-to-month terms. Showings require 24-hour notice.
For buyers seeking a small-scale rental portfolio, this layout offers the operational simplicity of separate utilities and in-garage laundry hookups for each unit. For owner-occupants, the configuration may support living in one unit while renting the others. The listing indicates the property is back on the market pending cancellation being signed.
The property is located at 2237 Ghents Road in Schenectady, NY, within Multi Residence zoning. The listing notes that tenants are on month-to-month terms. Showings require 24-hour notice.
For buyers seeking a small-scale rental portfolio, this layout offers the operational simplicity of separate utilities and in-garage laundry hookups for each unit. For owner-occupants, the configuration may support living in one unit while renting the others. The listing indicates the property is back on the market pending cancellation being signed.
Key Highlights
- 3‑family home built in 1950 with aluminum siding and an asphalt roof
- Each unit has separate utilities and its own circuit breakers with 100 amp service
- Natural gas hot water heating and public water; septic tank sewer
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
$26,535
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
8.16%
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%
$530,700
$530.7K
Cap Rate 7%
$379,071
$379.1K
Cap Rate 9%
$294,833
$294.8K
Market Conditions
NOI Build-Up for 2,330 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
$40.5K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.9K $16.27/SF
− OpEx
−$11.4K −$4.88/SF
NOI
$26.5K $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%
$530,700
Cap Rate 7%
$379,071
Cap Rate 9%
$294,833
Alternative Uses
Best Use
Multifamily LT 5
$379.1K
$331.7K – $442.3K
NOI $26,535 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$340.0K
$297.5K – $396.7K
NOI $23,801 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$697.4K
$610.2K – $813.6K
NOI $48,818 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
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?
Triplex - Three separate units with private utility service and garage hookups, suited for owner-occupants or income-focused buyers.
Where is this triplex located?
The property is located at 2237 Ghents Road Schenectady, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3‑family home built in 1950 with aluminum siding and an asphalt roof; Each unit has separate utilities and its own circuit breakers with 100 amp service; Natural gas hot water heating and public water; septic tank sewer
