Vacant 6-Bedroom
For Sale
$325,000
305-307 Furman Street, Schenectady, NY 12304
Vacant condition supports immediate occupancy for a flexible residential setup.
Property Size2,232 SF
Price / SF$145.61
Days on Market11
Property Features for 305-307 Furman Street
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Monticello
Listed By:
Sharon Phanisnaraine
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 13
Changed: Aug 23
Last Checked: Aug 22 at 8:59AM
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 Monticello
Investment Insights
Based on property information with market context.
This vacant duplex contains 2,232 square feet with a six-bedroom, two-bathroom configuration. Built in 1910, the property is described as turnkey and ready for occupancy, offering flexible residential space across the two-unit asset.
Parking includes a two-car garage along with additional off-street spaces. The property is located at 305-307 Furman Street in Schenectady, New York 12304.
Parking includes a two-car garage along with additional off-street spaces. The property is located at 305-307 Furman Street in Schenectady, New York 12304.
Key Highlights
- Six‑bedroom, two‑bathroom duplex configuration
- 2,232 square feet of building area
- Vacant and ready for immediate occupancy
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
$25,419
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
7.82%
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%
$508,380
$508.4K
Cap Rate 7%
$363,129
$363.1K
Cap Rate 9%
$282,433
$282.4K
Market Conditions
NOI Build-Up for 2,232 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
$38.8K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$36.3K $16.27/SF
− OpEx
−$10.9K −$4.88/SF
NOI
$25.4K $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%
$508,380
Cap Rate 7%
$363,129
Cap Rate 9%
$282,433
Alternative Uses
Best Use
Multifamily LT 5
$363.1K
$317.7K – $423.7K
NOI $25,419 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$325.7K
$285.0K – $380.0K
NOI $22,799 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$668.1K
$584.6K – $779.4K
NOI $46,765 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
972
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?
Duplex - Vacant condition supports immediate occupancy for a flexible residential setup.
Where is this duplex located?
The property is located at 305-307 Furman Street Schenectady, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Six‑bedroom, two‑bathroom duplex configuration; 2,232 square feet of building area; Vacant and ready for immediate occupancy
