Updated 3-Unit
For Sale
$460,000
610 Saratoga Road, Schenectady, NY 12302
Three maintained residential units with central air, basement storage, and outdoor improvements.
Property Size2,670 SF
Price / SF$172.28
Days on Market145
Property Features for 610 Saratoga Road
General Information
Standard status
Active
Size
2,670 SF
Total Parking Spaces
6
Property subtype
Multi Family / Triplex
Zoning
Multi Residence
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,000
Amenities
Metal, Rubber, Asphalt
AC Pump, Central Air, Window Unit(s), Yes
Baseboard, Electric, Forced Air, Natural Gas, Yes
Full, Sump Pump
True
Carpet, Hardwood
Yes
Living Room
Block
Clapboard, Tex 11 Siding, Wood Siding
Outbuilding
Security Lights, Carbon Monoxide Detector(s), Fire Alarm
Deck
Building Details
Year Built
1951
Listing Agency:
Whalen Group Distinguished Properties Inc
(518) 470-3741
Listed By:
Mary Hanchar · License #10301204312
(518) 470-3741
Source:
Compass
Added: Apr 9
Changed: Aug 29
Last Checked: Aug 29 at 1:59PM
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 Whalen Group Distinguished Properties Inc
Investment Insights
Based on property information with market context.
This updated triplex contains three residential units within a 2,670-square-foot multifamily property built in 1951. Interior features include living room space, carpet and hardwood flooring, a full basement with sump pump, and a combination of central air and window units. Heating features include baseboard and forced-air systems, with electric and natural gas service identified in the property details.
Exterior improvements include a deck, outbuilding, security lighting, carbon monoxide detectors, and a fire alarm. The property is located within the Burnt Hills-Ballston Lake School District, with shopping, local amenities, and major routes described as nearby. The configuration is positioned for investors or owner-occupants seeking a three-unit residential property.
Exterior improvements include a deck, outbuilding, security lighting, carbon monoxide detectors, and a fire alarm. The property is located within the Burnt Hills-Ballston Lake School District, with shopping, local amenities, and major routes described as nearby. The configuration is positioned for investors or owner-occupants seeking a three-unit residential property.
Key Highlights
- 3‑unit multifamily property with 2,670 square feet
- Built in 1951 and described as updated
- Full basement with sump pump
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
$30,407
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
6.61%
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%
$608,140
$608.1K
Cap Rate 7%
$434,386
$434.4K
Cap Rate 9%
$337,856
$337.9K
Market Conditions
NOI Build-Up for 2,670 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
$46.5K $17.40/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$43.4K $16.27/SF
− OpEx
−$13.0K −$4.88/SF
NOI
$30.4K $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%
$608,140
Cap Rate 7%
$434,386
Cap Rate 9%
$337,856
Alternative Uses
Best Use
Multifamily LT 5
$434.4K
$380.1K – $506.8K
NOI $30,407 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$389.6K
$340.9K – $454.6K
NOI $27,274 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$799.2K
$699.3K – $932.4K
NOI $55,942 @ 7.0% cap · market cap 12.16%
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
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
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 maintained residential units with central air, basement storage, and outdoor improvements.
Where is this triplex located?
The property is located at 610 Saratoga Road Schenectady, NY.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 3‑unit multifamily property with 2,670 square feet; Built in 1951 and described as updated; Full basement with sump pump
