Renovated Triplex with Fenced Rear
For Sale
$350,000
311 Craig Street, Schenectady, NY 12307
MULTI_FAMILY - Schenectady, NY
Property Size2,484 SF
Lot Size0.08 Acres
Price / SF$140.90
Days on Market19
Property Features for 311 Craig Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 7, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1
Patio and Porch features
Porch
High school district
000000
Directions
Albany St to Craig St
Standard status
Active
APN
421500 49.33-4-4
Size
2,484 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
5350
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
modern kitchens
stone countertops
tile backsplashes
stainless appliances
renovated ceramic tile baths
fresh flooring
open layout
separate electric and gas meters
energy efficient HVAC
walk-up attic
front porch
fenced rear yard
Building Details
Year built
1900
Number of units
3
Flooring type
Tile, Vinyl
Building materials
Vinyl Siding, Brick
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Moonrani G Gumani · License #10401352209
(518) 356-1701
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 11 at 9:06AM
MLS# 11901716
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated triplex offers three units with an updated, move-in-ready interior. The building includes modern kitchens with stone countertops, tile backsplashes, and newer stainless appliances, renovated ceramic tile baths, and fresh flooring throughout. The unit layout provides a spacious first-floor apartment plus two additional units above, for a total of six bedrooms and three full baths. Flooring includes tile and vinyl, with heating provided by forced air and natural gas, supported by energy-efficient HVAC.
The property is set on a 0.08-acre lot with 2,484 square feet under roof. Constructed with vinyl siding and brick and topped with an asphalt roof, it also features a full walk-up attic for storage, a front porch, and a fenced rear yard. Tenant utility separation is supported by three electric meters and three gas meters, with public water service.
Built in 1900, this triplex is located at 311 Craig Street in Schenectady, New York, and is described as convenient to schools, shopping, and major routes.
The property is set on a 0.08-acre lot with 2,484 square feet under roof. Constructed with vinyl siding and brick and topped with an asphalt roof, it also features a full walk-up attic for storage, a front porch, and a fenced rear yard. Tenant utility separation is supported by three electric meters and three gas meters, with public water service.
Built in 1900, this triplex is located at 311 Craig Street in Schenectady, New York, and is described as convenient to schools, shopping, and major routes.
Key Highlights
- Three electric meters and three gas meters keep electricity and gas tenant‑covered
- Six bedrooms and three full baths across three units with a first‑floor unit plus two above
- Energy‑efficient HVAC with forced‑air natural gas heating
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
$28,289
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
8.08%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
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
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 - Fully renovated triplex with separate electric and gas meters for tenants, plus a fenced rear yard.
Where is this triplex located?
The property is located at 311 Craig Street 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 electric meters and three gas meters keep electricity and gas tenant‑covered; Six bedrooms and three full baths across three units with a first‑floor unit plus two above; Energy‑efficient HVAC with forced‑air natural gas heating
