Two-Unit Duplex with Covered
232 3rd Street, Schenectady, NY 12302
For Sale
$254,900
MultiFamily, Schenectady, NY
Property Size1,504 SF
Lot Size0.08 Acres
Price / SF$169.48
Days on Market147
Property Features for 232 3rd Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Basement
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Amenities
hardwood floors
finished basement
bonus rear room
covered front porch
Building Details
Year built
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Thaddeus Jones · License #10301220962
(518) 681-1836
Added: Jun 16
Changed: Nov 1
Last Checked: Nov 9 at 7:06AM
MLS# 202620008
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.
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,504 square feet on a 0.08-acre parcel and was built in 1903. The first-floor apartment has two bedrooms, hardwood flooring, a living room, formal dining room, and eat-in kitchen, along with finished basement space and an additional rear room. The second-floor apartment includes one bedroom, a living area, kitchen, dining space, and low-maintenance flooring.
Exterior features include vinyl siding, a covered front porch, backyard space, driveway parking, off-street parking, and a garage. The property is served by public water and public sewer, with baseboard and forced-air heating using natural gas and electric systems. The first-floor unit is occupied by long-term tenants, while the second-floor unit is vacant.
Exterior features include vinyl siding, a covered front porch, backyard space, driveway parking, off-street parking, and a garage. The property is served by public water and public sewer, with baseboard and forced-air heating using natural gas and electric systems. The first-floor unit is occupied by long-term tenants, while the second-floor unit is vacant.
Key Highlights
- Two‑unit duplex with 1,504 square feet of building area
- 0.08‑acre parcel; constructed in 1903
- First‑floor apartment includes two bedrooms, hardwood floors, dining room, and eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,128
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,560
$342.6K
Cap Rate 7%
$244,686
$244.7K
Cap Rate 9%
$190,311
$190.3K
Market Conditions
NOI Build-Up for 1,504 SF
Gross rent
$26.2K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$24.5K $16.27/SF
− OpEx
−$7.3K −$4.88/SF
NOI
$17.1K $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 Rate 5%
$342,560
Cap Rate 7%
$244,686
Cap Rate 9%
$190,311
Alternative Uses
Best Use
Multifamily LT 5
$244.7K
$214.1K – $285.5K
NOI $17,128 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$219.5K
$192.0K – $256.1K
NOI $15,363 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$450.2K
$393.9K – $525.2K
NOI $31,512 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Schenectady, NY
Properties on Market for Duplexes in Schenectady
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments include a tenant-occupied first floor and a vacant second floor.
Where is this duplex located?
The property is located at 232 3rd Street Schenectady, NY.
What is the asking price?
The asking price for this property is $254,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,504 square feet of building area; 0.08‑acre parcel; constructed in 1903; First‑floor apartment includes two bedrooms, hardwood floors, dining room, and eat‑in kitchen
