Brick Triplex with Long-Term
229 Green Street Schenectady, NY 12305
229 Green Street, Schenectady, NY, 12305
$284,900
For Sale
$284,900
Traditional brick triplex in the Stockade, fully rented with two first-floor units and a third unit upstairs.
Property Size2,353 SF
Price / SF$121.08
Days on Market167
Property Features for 229 Green Street
General Information
- Standard status
- Active
- Size
- 2,353 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
KW Platform
Listed by
Kristian Khachadourian
(518) 639-4663
Source
Signatureonerealtygroup
Added: Feb 4 Updated: Jul 10 at 1:49PM Checked: Jul 19 at 6:39AM
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 traditional brick triplex offers three separate residential units within one building. The layout includes two units on the first floor and a third unit on the second floor, with a configuration designed for straightforward, tenant-friendly living arrangements. The property is presented in a fully rented state, with long-term tenants currently in place.
Located in Schenectady’s Stockade neighborhood, the home is set among walkable surroundings and close to downtown conveniences. The public remarks also note proximity to local restaurants and Rivers Casino, supporting the area’s day-to-day appeal for residents.
For buyers seeking a residential income property with established occupancy, this triplex provides an income-producing setup through existing long-term tenants. Its brick construction and three-unit layout can appeal to investors looking to own a compact multifamily asset while keeping the building structure simple: two units at street level and one unit on the upper level. The combination of current occupancy and a clear unit distribution makes it a practical option for those evaluating a small-scale, locally based rental portfolio.
Located in Schenectady’s Stockade neighborhood, the home is set among walkable surroundings and close to downtown conveniences. The public remarks also note proximity to local restaurants and Rivers Casino, supporting the area’s day-to-day appeal for residents.
For buyers seeking a residential income property with established occupancy, this triplex provides an income-producing setup through existing long-term tenants. Its brick construction and three-unit layout can appeal to investors looking to own a compact multifamily asset while keeping the building structure simple: two units at street level and one unit on the upper level. The combination of current occupancy and a clear unit distribution makes it a practical option for those evaluating a small-scale, locally based rental portfolio.
Key Highlights
- Traditional brick triplex in Schenectady’s Stockade neighborhood
- Fully rented with long‑term tenants in place
- Unit layout: two units on the first floor and a third unit on the second floor
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.6k | $19.80 |
| − Vacancy | −$2.9k | −$1.23 |
| EGI | $43.7k | $18.57 |
| − OpEx | −$19.7k | −$8.36 |
| NOI | $24.0k | $10.21 |
2,353 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$382.8K
$335.0K – $446.6K
NOI $26,797 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$343.4K
$300.4K – $400.6K
NOI $24,035 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$704.3K
$616.3K – $821.7K
NOI $49,300 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Traditional brick triplex in the Stockade, fully rented with two first-floor units and a third unit upstairs.
Where is this triplex located?
The property is located at 229 Green Street Schenectady, NY.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Traditional brick triplex in Schenectady’s Stockade neighborhood; Fully rented with long‑term tenants in place; Unit layout: two units on the first floor and a third unit on the second floor
