Updated 3-Unit
New
For Sale
$265,000
492 Olean Street, Rotterdam, NY 12306
Residential Income, Rotterdam, NY
Property Size1,684 SF
Lot Size0.07 Acres
Price / SF$157.36
Days on Market3
Property Features for 492 Olean Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6
Parking features
Driveway
High school district
000000
Directions
Broadway to Olean Street. 1st house on left after convenience store.
Standard status
Active
APN
422800 48.15-7-10
Size
1,684 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3422
Utilities
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Amenities
fenced front yard
solar lights
outdoor gazebo
propane fire pit
electric fireplaces
A/C units
Building Details
Year built
1950
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Wood Siding, Shake Siding
Roof type
Asphalt, Metal
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Laura Sherman
(518) 348-2060
Added: Sep 25
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# 12002846
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 1,684-square-foot triplex contains three distinct apartments: a three-bedroom main-floor unit, a two-bedroom upper apartment, and a one-bedroom lower-level apartment. Updates include windows, insulation, flooring, electrical fixtures, and kitchen cabinets, appliances, and countertops. The property was built in 1950 and sits on a 0.07-acre lot. A two-car garage includes a half bath, two sinks, and overhead storage; driveway parking accommodates five vehicles.
The property is in Rotterdam’s B-2 zoning district, within the Mohonasen School District, and near shopping, dining, and commuter routes. It is being sold as-is, with inspections for the buyer’s information only.
The property is in Rotterdam’s B-2 zoning district, within the Mohonasen School District, and near shopping, dining, and commuter routes. It is being sold as-is, with inspections for the buyer’s information only.
Key Highlights
- Three apartments: 3‑bedroom main floor, 2‑bedroom upper unit, and 1‑bedroom lower‑level unit
- 1,684 square feet on a 0.07‑acre lot
- Two‑car garage with half bath, two sinks, and overhead storage
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
$19,178
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
7.24%
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%
$383,560
$383.6K
Cap Rate 7%
$273,971
$274.0K
Cap Rate 9%
$213,089
$213.1K
Market Conditions
NOI Build-Up for 1,684 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
$29.3K $17.40/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$27.4K $16.27/SF
− OpEx
−$8.2K −$4.88/SF
NOI
$19.2K $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%
$383,560
Cap Rate 7%
$273,971
Cap Rate 9%
$213,089
Alternative Uses
Best Use
Multifamily LT 5
$274.0K
$239.7K – $319.6K
NOI $19,178 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$245.7K
$215.0K – $286.7K
NOI $17,202 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$504.0K
$441.0K – $588.1K
NOI $35,283 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 12306, NY
26,935
Population
12,481
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
43.9 sq mi
ZIP Area
614
Density / Sq Mi
$80,583
Median Household Income
$46,702
Median Earnings
$1,221
Median Rent
$212,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Three apartments provide one-, two-, and three-bedroom layouts.
Where is this triplex located?
The property is located at 492 Olean Street Rotterdam, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Three apartments: 3‑bedroom main floor, 2‑bedroom upper unit, and 1‑bedroom lower‑level unit; 1,684 square feet on a 0.07‑acre lot; Two‑car garage with half bath, two sinks, and overhead storage
