Updated Multifamily
For Sale
$245,555
574 Crane Street, Schenectady, NY 12303
Located near downtown and highway access, with flooring and paint refreshed within the past two years.
Property Size1,996 SF
Price / SF$123.02
Days on Market41
Property Features for 574 Crane Street
General Information
Standard status
Active
Size
1,996 SF
Property subtype
Multi-Family
Zoning
Mixed
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,325
Building Details
Year Built
1900
Listing Agency:
Thompson Real Estate Team
Listed By:
Shana Boodhoo
(518) 930-1447
Source:
Capmarkrealty
Added: Jul 26
Changed: Aug 30
Last Checked: Aug 31 at 12:51PM
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 Thompson Real Estate Team
Investment Insights
Based on property information with market context.
This multifamily property was built in 1900 and has a reported property size of 1,996. Flooring and paint were updated less than two years ago. The property is offered for sale in its present AS-IS condition.
The address places the asset in Schenectady County and within the local school district. Its setting near downtown and highway access provides connectivity to surrounding amenities and destinations. The property information does not specify unit count, layout, or additional building systems.
The address places the asset in Schenectady County and within the local school district. Its setting near downtown and highway access provides connectivity to surrounding amenities and destinations. The property information does not specify unit count, layout, or additional building systems.
Key Highlights
- 1,996 reported property size
- Built in 1900
- Flooring and paint updated less than two years ago
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
$20,389
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
8.30%
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%
$407,780
$407.8K
Cap Rate 7%
$291,271
$291.3K
Cap Rate 9%
$226,544
$226.5K
Market Conditions
NOI Build-Up for 1,996 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
$39.5K $19.80/SF
− Vacancy
−$2.5K −$1.23/SF
EGI
$37.1K $18.57/SF
− OpEx
−$16.7K −$8.36/SF
NOI
$20.4K $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 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%
$407,780
Cap Rate 7%
$291,271
Cap Rate 9%
$226,544
Alternative Uses
Best Use
Apartment 5plus
$291.3K
$254.9K – $339.8K
NOI $20,389 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$597.4K
$522.8K – $697.0K
NOI $41,820 @ 7.0% cap · market cap 17.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
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?
Multifamily property - Located near downtown and highway access, with flooring and paint refreshed within the past two years.
Where is this multifamily property located?
The property is located at 574 Crane Street Schenectady, NY.
What is the asking price?
The asking price for this property is $245,555.
What are key features of this property?
This property features: 1,996 reported property size; Built in 1900; Flooring and paint updated less than two years ago
