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    Four-Unit Multifamily Building Title is generated by Realmo AI

    234 Jackson Avenue, Schenectady, NY 12304

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    For Sale
    $425,000

    MULTI_FAMILY - Other - Schenectady, NY

    Property size:
    2,400 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $177/SF
    Added:
    Jun 6, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 6 at 11:06 am

    Property Features for 234 Jackson Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 4, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1
    Parking
    4
    Parking features
    Driveway, Off Street
    Window features
    Double Pane Windows, Window Coverings
    Patio and Porch features
    Deck, Porch
    Basement
    Exterior Entry, Partial
    Standard status
    Active
    APN
    421500 60.37-1-11
    Size
    2,400 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7625

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Electric (Heating), Radiant, Natural Gas
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1955
    Number of units
    4
    Flooring type
    Tile, Wood
    Building materials
    Block, Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Josephine Polsinelli
    Josephine Polsinelli

    Listing agent Josephine Polsinelli License #10401300250

    Listing office Berkshire Hathaway Home Services Blake 3 Winners Circle Ste 305, Albany, NY

    Listing date Jun 6, 2026

    MLS# 202618993 Listing URL

    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.

    HighLights

    • Built in 1955 with block and brick construction
    • Includes multiple floors with tile and wood flooring
    • Heating options include hot water, electric, radiant, and natural gas
    • Cooling includes window unit(s)
    • Roof is asphalt; sewer is public sewer
    • Parking includes driveway and off‑street parking, with deck and porch

    Overview

    This four-unit multifamily building offers four apartments with an arrangement that includes a vacant unit. Apartment 1 is vacant and is located on the first-floor right-hand side. The remaining three apartments are occupied, providing an in-place mix of tenants alongside one unit available for immediate occupancy updates.

    The property is located at 234 Jackson Avenue in Schenectady, New York 12304. The information provided indicates a straightforward setup across the building, with current occupancy split between the vacant first-floor unit and three occupied apartments.

    For buyers seeking a small residential income property, the combination of one vacant unit and three occupied units can support a range of ownership strategies, including stabilizing occupancy and preparing the vacant space for the next tenant. The listing notes that appointments are required for a serious buyer to view the other apartments, which can help you assess condition, layout, and fit before making a decision.

    Local Financial Insights For Multifamily LT 5

    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 $41.8k $17.40
    − Vacancy −$2.7k −$1.13
    EGI $39.0k $16.27
    − OpEx −$11.7k −$4.88
    NOI $27.3k $11.39
    2,400 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $390.5K
    $341.7K – $455.5K (±1% cap)
    NOI $27,332 @ 7.0% cap · market cap 6.43%
    Second Best
    Apartment 5plus
    $350.2K
    $306.5K – $408.6K (±1% cap)
    NOI $24,516 @ 7.0% cap · market cap 5.77%
    Theoretical Best
    Office A
    $718.4K
    $628.6K – $838.1K (±1% cap)
    NOI $50,285 @ 7.0% cap · market cap 11.83%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.914511
    Latitude
    42.780432

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    FAQs

    What type of property is this?
    Quadplex - Well-suited for an owner-operator or investor with one vacant first-floor apartment and three currently occupied units.
    Where is this quadplex located?
    The property is located at 234 Jackson Avenue Schenectady, NY.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Built in 1955 with block and brick construction; Includes multiple floors with tile and wood flooring; Heating options include hot water, electric, radiant, and natural gas
    (518) 573-7387
    We can help!
    Listing Contact
    Josephine Polsinelli
    Josephine Polsinelli
    Real Estate License ID: 10401300250
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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