Six-Unit Apartment
For Sale
$589,999
Pending
3290 Balltown Rd, Schenectady, NY 12304
Fully occupied multifamily property with on-site parking and four garages.
Property Size4,746 SF
Days on Market137
Property Features for 3290 Balltown Rd
General Information
Standard status
Pending
Size
4,746 SF
Property subtype
Residential Income
Occupancy
100%
Financials
Cap Rate
8.4%
Gross Income
$89,000
Units
Unit Mix
2 x 2BR, 3 x 1BR, 1 x studio
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,959
Building Details
Buildings
1
Listing Agency:
Tier One Real Estate Pros LLC
(518) 698-6321
Listed By:
Stephen M McCormick · License #10491214014
(518) 698-6321
Source:
Exprealty
Added: Apr 16
Changed: Aug 29
Last Checked: Aug 29 at 4:49PM
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 Tier One Real Estate Pros LLC
Investment Insights
Based on property information with market context.
This 4,746-square-foot apartment property in Schenectady contains six units with a varied residential layout: two two-bedroom apartments, three one-bedroom apartments, and one studio. The building is fully occupied and includes a sizeable parking lot plus four garages, consisting of two single-car garages and two two-car garages.
Located at 3290 Balltown Rd, the property is offered as a multifamily income asset with an 8.4% cap rate and annual gross rents of $89,000.
Located at 3290 Balltown Rd, the property is offered as a multifamily income asset with an 8.4% cap rate and annual gross rents of $89,000.
Key Highlights
- Six‑unit apartment building with two 2BR, three 1BR, and one studio apartment
- 4,746 SF property at 3290 Balltown Rd, Schenectady, NY
- Fully occupied with $89,000 in annual gross rents
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
$48,480
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
8.22%
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%
$969,600
$969.6K
Cap Rate 7%
$692,571
$692.6K
Cap Rate 9%
$538,667
$538.7K
Market Conditions
NOI Build-Up for 4,746 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
$94.0K $19.80/SF
− Vacancy
−$5.8K −$1.23/SF
EGI
$88.1K $18.57/SF
− OpEx
−$39.7K −$8.36/SF
NOI
$48.5K $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%
$969,600
Cap Rate 7%
$692,571
Cap Rate 9%
$538,667
Alternative Uses
Best Use
Apartment 5plus
$692.6K
$606.0K – $808.0K
NOI $48,480 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,438 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
419
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?
Apartment building - Fully occupied multifamily property with on-site parking and four garages.
Where is this apartment building located?
The property is located at 3290 Balltown Rd Schenectady, NY.
What is the asking price?
The asking price for this property is $589,999.
What are key features of this property?
This property features: Six‑unit apartment building with two 2BR, three 1BR, and one studio apartment; 4,746 SF property at 3290 Balltown Rd, Schenectady, NY; Fully occupied with $89,000 in annual gross rents
