Two-Unit Duplex
For Sale
$189,000
521 Manhattan St, Schenectady, NY 12308
Fully occupied two-family property with separate utilities and newer heating and hot-water systems.
Property Size1,600 SF
Price / SF$118.13
Days on Market47
Property Features for 521 Manhattan St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
Levack Real Estate Inc
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 6
Changed: Oct 21
Last Checked: Oct 20 at 8:45PM
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 Levack Real Estate Inc
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Investment Insights
Based on property information with market context.
This fully occupied duplex contains 1,600 square feet across two residential units. Each apartment includes 2 bedrooms, 1 full bath, a living room, and an eat-in kitchen. The property has separate utilities, along with 2 newer furnaces and 2 newer hot water tanks. Built in 1900, the building offers a straightforward two-unit configuration for residential income ownership.
The property is located at 521 Manhattan Street in Schenectady, near Union College, restaurants, banking services, and the bus line. Its established setting and nearby daily-use amenities support convenient access for residents.
The property is located at 521 Manhattan Street in Schenectady, near Union College, restaurants, banking services, and the bus line. Its established setting and nearby daily-use amenities support convenient access for residents.
Key Highlights
- Fully occupied two‑family property at 521 Manhattan Street, Schenectady, NY 12308
- Two residential units totaling 1,600 square feet
- Each unit includes 2 bedrooms, 1 full bath, living room, and eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,344
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,880
$326.9K
Cap Rate 7%
$233,486
$233.5K
Cap Rate 9%
$181,600
$181.6K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$31.7K $19.80/SF
− Vacancy
−$2.0K −$1.23/SF
EGI
$29.7K $18.57/SF
− OpEx
−$13.4K −$8.36/SF
NOI
$16.3K $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 Rate 5%
$326,880
Cap Rate 7%
$233,486
Cap Rate 9%
$181,600
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$233.5K
$204.3K – $272.4K
NOI $16,344 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$478.9K
$419.0K – $558.7K
NOI $33,523 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
724
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-family property with separate utilities and newer heating and hot-water systems.
Where is this duplex located?
The property is located at 521 Manhattan St Schenectady, NY.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Fully occupied two‑family property at 521 Manhattan Street, Schenectady, NY 12308; Two residential units totaling 1,600 square feet; Each unit includes 2 bedrooms, 1 full bath, living room, and eat‑in kitchen
