Renovated Triplex with
For Sale
$335,000
6 N College St, Schenectady, NY 12305
Three-unit residential property with two updated apartments, a vacant four-bedroom residence, and a detached garage.
Property Size2,600 SF
Price / SF$128.85
Days on Market24
Property Features for 6 N College St
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,072
Listing Agency:
Empire Real Estate Firm LLC
(518) 774-2707
Listed By:
Trevor Askew
(518) 774-2707
Source:
Exprealty
Added: Jul 27
Changed: Aug 11
Last Checked: Aug 19 at 12:35PM
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 Empire Real Estate Firm LLC
Investment Insights
Based on property information with market context.
Located at 6 N College St in Schenectady, this 2,600-square-foot triplex contains two renovated 1-bedroom, 1-bath apartments and one vacant 4-bedroom, 1-bath apartment. The two smaller units are occupied, while the larger residence is available for occupancy. A detached 3-car garage adds storage and parking functionality.
The property has been updated with 400-amp electrical service and four new breaker panels. It is situated in Schenectady’s Stockade Historic District, with downtown Schenectady, restaurants, shopping, Rivers Casino, Union College, Ellis Hospital, and major highways described as nearby.
The property has been updated with 400-amp electrical service and four new breaker panels. It is situated in Schenectady’s Stockade Historic District, with downtown Schenectady, restaurants, shopping, Rivers Casino, Union College, Ellis Hospital, and major highways described as nearby.
Key Highlights
- Three‑unit property with two renovated 1‑bedroom, 1‑bath apartments and one vacant 4‑bedroom, 1‑bath apartment
- 2,600 square feet of residential space
- Detached 3‑car garage
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
$29,610
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
8.84%
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%
$592,200
$592.2K
Cap Rate 7%
$423,000
$423.0K
Cap Rate 9%
$329,000
$329.0K
Market Conditions
NOI Build-Up for 2,600 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
$45.2K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$42.3K $16.27/SF
− OpEx
−$12.7K −$4.88/SF
NOI
$29.6K $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%
$592,200
Cap Rate 7%
$423,000
Cap Rate 9%
$329,000
Alternative Uses
Best Use
Multifamily LT 5
$423.0K
$370.1K – $493.5K
NOI $29,610 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$379.4K
$332.0K – $442.7K
NOI $26,559 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$778.2K
$680.9K – $907.9K
NOI $54,475 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 12305, NY
6,085
Population
4,103
Households
1.5
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
1.5 sq mi
ZIP Area
4,057
Density / Sq Mi
$50,308
Median Household Income
$34,228
Median Earnings
$1,067
Median Rent
$162,500
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?
Triplex - Three-unit residential property with two updated apartments, a vacant four-bedroom residence, and a detached garage.
Where is this triplex located?
The property is located at 6 N College St Schenectady, NY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Three‑unit property with two renovated 1‑bedroom, 1‑bath apartments and one vacant 4‑bedroom, 1‑bath apartment; 2,600 square feet of residential space; Detached 3‑car garage
