Three-Unit Residential
For Sale
$349,500
29 Mc Clellan Street, Schenectady, NY 12304
Three apartments combine a larger family layout with two separate one-bedroom residences.
Property Size2,804 SF
Price / SF$124.64
Days on Market304
Property Features for 29 Mc Clellan Street
General Information
Standard status
Active
Size
2,804 SF
Total Parking Spaces
1
Property subtype
Multi Family / Triplex
Units
Unit Mix
1 x 4BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,282
Amenities
Slate
Forced Air, Yes
Full, Unfinished
100 Amp Service, Circuit Breakers
Vinyl
Yes
Vinyl Siding
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Lachman Real Estate Group
(518) 935-5060
Listed By:
Yogesh Lachman · License #10311210276
(518) 935-5060
Source:
Compass
Added: Nov 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:57AM
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 Lachman Real Estate Group
Investment Insights
Based on property information with market context.
This 2,804-square-foot residential income property, built in 1910, contains three apartments. The first level includes a four-bedroom, one-bath residence, while the upper level is arranged as two separate one-bedroom, one-bath units. Interior features include forced-air heating, slate and vinyl finishes, a full unfinished basement, and 100 Amp service with circuit breakers. The exterior has vinyl siding.
The property is located at 29 Mc Clellan Street in Schenectady, NY 12304, with bus lines, schools, and shopping nearby. Its three-apartment configuration provides a defined residential layout within an established multifamily building.
The property is located at 29 Mc Clellan Street in Schenectady, NY 12304, with bus lines, schools, and shopping nearby. Its three-apartment configuration provides a defined residential layout within an established multifamily building.
Key Highlights
- Three‑apartment configuration with one 4‑bedroom unit and two 1‑bedroom units
- 2,804 square feet of residential building area
- Built in 1910
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
$31,933
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
9.14%
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%
$638,660
$638.7K
Cap Rate 7%
$456,186
$456.2K
Cap Rate 9%
$354,811
$354.8K
Market Conditions
NOI Build-Up for 2,804 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
$48.8K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.6K $16.27/SF
− OpEx
−$13.7K −$4.88/SF
NOI
$31.9K $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%
$638,660
Cap Rate 7%
$456,186
Cap Rate 9%
$354,811
Alternative Uses
Best Use
Multifamily LT 5
$456.2K
$399.2K – $532.2K
NOI $31,933 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$409.2K
$358.0K – $477.4K
NOI $28,642 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$839.3K
$734.4K – $979.2K
NOI $58,749 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,045
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments combine a larger family layout with two separate one-bedroom residences.
Where is this triplex located?
The property is located at 29 Mc Clellan Street Schenectady, NY.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Three‑apartment configuration with one 4‑bedroom unit and two 1‑bedroom units; 2,804 square feet of residential building area; Built in 1910
