Three-Bedroom Multifamily
New
For Sale
Contact for pricing
321 HULETT ST, Schenectady, NY 12307
Residential income property with a sizable lot extending from Hulett Street toward Arch Street.
Property Size1,377 SF
Lot Size0.25 Acres
Price / SF$181.19
Days on Market4
Property Features for 321 HULETT ST
General Information
Standard status
Active
Size
1,377 SF
Total Parking Spaces
9
Lot size
0.25 Acres
Property subtype
Multifamily
Zoning
03-Multifamily
Building Details
Year Built
1918
Buildings
1
Stories
2
Units
3
Tenancy
Single
Listing Agency:
KW Commercial Capital District
Listed By:
Benjamin Romer · License #NY 10401317745
(518) 368-3932
Source:
Crexi
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:01PM
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 KW Commercial Capital District
Investment Insights
Based on property information with market context.
This multifamily property at 321 Hulett St includes three bedrooms and was built in 1918. The parcel measures approximately 70' by 155' and extends from Hulett Street toward Arch Street, providing a substantial footprint associated with the property. Zoning is identified as 03-Multifamily.
The property is situated near Albany Street, with local amenities, transportation, and services in the surrounding area. The 321 Hulett St property and 323 Hulett St are offered separately or together, giving purchasers the option to acquire one property or both.
The property is situated near Albany Street, with local amenities, transportation, and services in the surrounding area. The 321 Hulett St property and 323 Hulett St are offered separately or together, giving purchasers the option to acquire one property or both.
Key Highlights
- Three‑bedroom multifamily property at 321 Hulett St
- Approximately 70' x 155' lot extending toward Arch Street
- 03‑Multifamily zoning
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
$14,066
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
5.64%
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%
$281,320
$281.3K
Cap Rate 7%
$200,943
$200.9K
Cap Rate 9%
$156,289
$156.3K
Market Conditions
NOI Build-Up for 1,377 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
$27.3K $19.80/SF
− Vacancy
−$1.7K −$1.23/SF
EGI
$25.6K $18.57/SF
− OpEx
−$11.5K −$8.36/SF
NOI
$14.1K $10.21/SF
Area
Schenectady County, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$281,320
Cap Rate 7%
$200,943
Cap Rate 9%
$156,289
Alternative Uses
Best Use
Apartment 5plus
$200.9K
$175.8K – $234.4K
NOI $14,066 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$412.2K
$360.6K – $480.9K
NOI $28,851 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,981
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?
Multifamily property - Residential income property with a sizable lot extending from Hulett Street toward Arch Street.
Where is this multifamily property located?
The property is located at 321 HULETT ST Schenectady, NY.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Three‑bedroom multifamily property at 321 Hulett St; Approximately 70' x 155' lot extending toward Arch Street; 03‑Multifamily zoning
