Occupied Two-Family
New
For Sale
$199,000
521 Manhattan Street, Schenectady, NY 12308
Residential Income, Schenectady, NY
Property Size1,600 SF
Lot Size0.06 Acres
Price / SF$124.38
Days on Market4
Property Features for 521 Manhattan Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 2
Patio and Porch features
Porch
High school district
000000
Directions
Nott St on Van Vranken Ave and left onto Manhattan St.
Standard status
Active
APN
421500 39.35-2-26
Size
1,600 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4808
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Christine M Serafini · License #40SE0980789
(518) 514-8830
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 7 at 2:06AM
MLS# 11968150
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 1,600-square-foot duplex contains two residential units, each arranged with 2 bedrooms, 1 full bath, a living room, and an eat-in kitchen. The property is fully occupied and has separate utilities for each unit. Two newer furnaces and hot water tanks serve the building, which was constructed in 1900 and features vinyl siding, hardwood flooring, an asphalt roof, and a porch. Heating is provided by natural-gas forced air, with public water service.
The 0.06-acre property is located at 521 Manhattan Street in Schenectady, near Union College, restaurants, banking, and the bus line. Its two-unit configuration, individual utilities, and established residential improvements provide a clear operating format for a duplex owner.
The 0.06-acre property is located at 521 Manhattan Street in Schenectady, near Union College, restaurants, banking, and the bus line. Its two-unit configuration, individual utilities, and established residential improvements provide a clear operating format for a duplex owner.
Key Highlights
- Fully occupied two‑family property at 521 Manhattan Street, Schenectady, NY 12308
- Each unit includes 2 bedrooms, 1 full bath, living room, and eat‑in kitchen
- 1,600 square feet on a 0.06‑acre lot
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 - Separate utilities and newer mechanical systems support straightforward operation across two-bedroom residential units.
Where is this duplex located?
The property is located at 521 Manhattan Street 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; Each unit includes 2 bedrooms, 1 full bath, living room, and eat‑in kitchen; 1,600 square feet on a 0.06‑acre lot
