Updated Duplex with
For Sale
$510,000
3008-3010 Sunset Ln, Schenectady, NY 12303
Two residential units offer flexible owner occupancy, rental income, and separate heating and cooling systems.
Property Size2,702 SF
Lot Size0.63 Acres
Price / SF$188.75
Days on Market38
Property Features for 3008-3010 Sunset Ln
General Information
Standard status
Active
Size
2,702 SF
Lot size
0.63 Acres
Property subtype
Multi-Family
Units
Unit Mix
3BR/1.5BA, 2BR/1BA (approx 775 SF)
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
fenced back yard
garden area
patio
pergola
sheds
shared laundry area
Building Details
Year Built
1970
Buildings
1
Listing Agency:
Realty One Group Key
(518) 861-7016
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 31 at 3:14PM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This 2,702-square-foot legal two-family property includes a three-bedroom, 1.5-bath owner’s unit and a separate two-bedroom, one-bath apartment. The primary residence has a two-car garage, updated kitchen with cherry cabinetry, quartz counters, and Samsung appliances, plus refreshed flooring and modernized bathrooms. Both units have separate hot-air heat and newer central air. A full basement, shared first-floor laundry and mudroom, pantry storage, and additional storage areas support daily use.
The home sits on 0.63 acres with public water and sewer, supplemented by a well serving the lawn irrigation system. Outdoor improvements include a level fenced yard, garden area, expanded patio, covered pergola, perennial plantings, two sheds, and gravel pads for equipment or boat parking. The roof and skylights were replaced in 2025, and the driveway was expanded in 2017. The apartment has updated flooring, tile, cabinetry, counters, and appliances, and is occupied by tenants. The property is served by Guilderland Schools.
The home sits on 0.63 acres with public water and sewer, supplemented by a well serving the lawn irrigation system. Outdoor improvements include a level fenced yard, garden area, expanded patio, covered pergola, perennial plantings, two sheds, and gravel pads for equipment or boat parking. The roof and skylights were replaced in 2025, and the driveway was expanded in 2017. The apartment has updated flooring, tile, cabinetry, counters, and appliances, and is occupied by tenants. The property is served by Guilderland Schools.
Key Highlights
- Legal two‑family property with 2,702 SF and a 3‑bedroom owner’s unit plus 2‑bedroom apartment
- 0.63‑acre parcel with level fenced yard, garden area, patio, covered pergola, two sheds, and gravel equipment pads
- Two‑car garage attached to the owner’s residence
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
$30,771
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
6.03%
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%
$615,420
$615.4K
Cap Rate 7%
$439,586
$439.6K
Cap Rate 9%
$341,900
$341.9K
Market Conditions
NOI Build-Up for 2,702 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
$47.0K $17.40/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$44.0K $16.27/SF
− OpEx
−$13.2K −$4.88/SF
NOI
$30.8K $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%
$615,420
Cap Rate 7%
$439,586
Cap Rate 9%
$341,900
Alternative Uses
Best Use
Multifamily LT 5
$439.6K
$384.6K – $512.9K
NOI $30,771 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$394.3K
$345.0K – $460.0K
NOI $27,600 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$808.7K
$707.7K – $943.5K
NOI $56,612 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
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?
Duplex - Two residential units offer flexible owner occupancy, rental income, and separate heating and cooling systems.
Where is this duplex located?
The property is located at 3008-3010 Sunset Ln Schenectady, NY.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Legal two‑family property with 2,702 SF and a 3‑bedroom owner’s unit plus 2‑bedroom apartment; 0.63‑acre parcel with level fenced yard, garden area, patio, covered pergola, two sheds, and gravel equipment pads; Two‑car garage attached to the owner’s residence
