Four-Bedroom
For Sale
$299,000
507 Nott St, Schenectady, NY 12308
Two-unit residential property near Union College, local shops, and restaurants.
Property Size2,256 SF
Price / SF$132.54
Days on Market31
Property Features for 507 Nott St
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 4BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,547
Building Details
Year Built
1900
Buildings
1
Listing Agency:
BA Realty Group LLC
(518) 952-1186
Listed By:
Vernon Bostick
(518) 952-1186
Source:
Exprealty
Added: Jul 20
Changed: Aug 18
Last Checked: Aug 18 at 1:54PM
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 BA Realty Group LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with four bedrooms and one full bathroom in each. The building was constructed in 1900 and provides about 2,256 square feet above grade. The entire exterior was painted in summer 2026.
The property is located on Nott St in Schenectady’s Northside neighborhood, with Union College, shops, and restaurants within walking distance. It is available individually or as part of an eleven-building Schenectady portfolio.
The property is located on Nott St in Schenectady’s Northside neighborhood, with Union College, shops, and restaurants within walking distance. It is available individually or as part of an eleven-building Schenectady portfolio.
Key Highlights
- Two units, each with four bedrooms and one full bath
- About 2,256 square feet above grade
- Built in 1900
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
$25,692
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
8.59%
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%
$513,840
$513.8K
Cap Rate 7%
$367,029
$367.0K
Cap Rate 9%
$285,467
$285.5K
Market Conditions
NOI Build-Up for 2,256 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
$39.3K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$36.7K $16.27/SF
− OpEx
−$11.0K −$4.88/SF
NOI
$25.7K $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%
$513,840
Cap Rate 7%
$367,029
Cap Rate 9%
$285,467
Alternative Uses
Best Use
Multifamily LT 5
$367.0K
$321.2K – $428.2K
NOI $25,692 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,045 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$675.3K
$590.9K – $787.8K
NOI $47,268 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near Union College, local shops, and restaurants.
Where is this duplex located?
The property is located at 507 Nott St Schenectady, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two units, each with four bedrooms and one full bath; About 2,256 square feet above grade; Built in 1900
