Renovated Triplex with Separate
For Sale
$350,000
Pending
311 Craig St, Schenectady, NY 12307
Three updated apartments feature modern finishes, individual utility metering, and additional storage and outdoor space.
Property Size2,484 SF
Days on Market87
Property Features for 311 Craig St
General Information
Standard status
Pending
Size
2,484 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
walk-up attic
front porch
fenced rear yard
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Jul 25
Changed: Oct 16
Last Checked: Oct 19 at 7:10AM
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 Coldwell Banker Prime Properties
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,484-square-foot triplex contains three apartments with six bedrooms and three full bathrooms. The configuration includes a larger first-floor residence and two upper-level units. Interior improvements include modern kitchens with stone countertops, tile backsplashes, stainless steel appliances, ceramic tile bathrooms, and new flooring. Energy-efficient HVAC serves the building, while a walk-up attic provides storage. A front porch and fenced rear yard add usable exterior space.
Separate electric and gas metering is provided for each apartment, with three electric meters and three gas meters serving the property. The building is located in Schenectady near schools, shopping, and major routes. The unit layout supports either tenant occupancy or an owner-occupant arrangement.
Separate electric and gas metering is provided for each apartment, with three electric meters and three gas meters serving the property. The building is located in Schenectady near schools, shopping, and major routes. The unit layout supports either tenant occupancy or an owner-occupant arrangement.
Key Highlights
- Three‑unit building totaling 2,484 square feet
- Six bedrooms and three full bathrooms across the property
- Three electric meters and three gas meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,289
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,780
$565.8K
Cap Rate 7%
$404,129
$404.1K
Cap Rate 9%
$314,322
$314.3K
Market Conditions
NOI Build-Up for 2,484 SF
Gross rent
$43.2K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.4K $16.27/SF
− OpEx
−$12.1K −$4.88/SF
NOI
$28.3K $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%
$565,780
Cap Rate 7%
$404,129
Cap Rate 9%
$314,322
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.5K
NOI $28,289 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$743.5K
$650.6K – $867.4K
NOI $52,045 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,871
Businesses Nearby
Explore this area
Business Placement
Demographics for 12307, NY
7,567
Population
3,491
Households
2.2
Avg Household Size
32
Median Age
14%
College-Educated
74%
High-School Grad
0.7 sq mi
ZIP Area
10,810
Density / Sq Mi
$33,191
Median Household Income
$28,878
Median Earnings
$1,110
Median Rent
$95,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated apartments feature modern finishes, individual utility metering, and additional storage and outdoor space.
Where is this triplex located?
The property is located at 311 Craig St Schenectady, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit building totaling 2,484 square feet; Six bedrooms and three full bathrooms across the property; Three electric meters and three gas meters
