Two-Unit Duplex
New
For Sale
$199,000
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$124.38
Days on Market2
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:
Find Advisors
Listed By:
Brian Walters
(518) 526-1800
Source:
Albanyprimeproperties
Added: Sep 6
Last Checked: Sep 6 at 6:04AM
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 Find Advisors
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 = 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
$18,221
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
9.16%
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%
$364,420
$364.4K
Cap Rate 7%
$260,300
$260.3K
Cap Rate 9%
$202,456
$202.5K
Market Conditions
NOI Build-Up for 1,600 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
$27.8K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$26.0K $16.27/SF
− OpEx
−$7.8K −$4.88/SF
NOI
$18.2K $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%
$364,420
Cap Rate 7%
$260,300
Cap Rate 9%
$202,456
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$233.5K
$204.3K – $272.4K
NOI $16,344 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$478.9K
$419.0K – $558.7K
NOI $33,523 @ 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
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 $199,000.
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
