Historic Four-Unit Residential
For Sale
$575,000
Pending
7 Union Street, Schenectady, NY 12305
MULTI_FAMILY - Schenectady, NY
Property Size4,984 SF
Lot Size0.14 Acres
Days on Market115
Property Features for 7 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi Residence
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 6, Bathroom 5, Bathroom 7, Bathroom 1, Bathroom 2, Bathroom 6, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 3
Interior features
Paddle Fan, Built-in Features
Basement
Full, Unfinished
Subdivision
Stockade Historic District
Lot features
Level
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Union Street west of Church Street.
Standard status
Pending
APN
421500 39.63-1-44
Size
4,984 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
14021
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Water source
Public
Building Details
Year built
1850
Number of units
4
Flooring type
Hardwood, Tile
Building materials
Block
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 464-0870
Listed By:
Karen Zalewski-Wildzunas · License #10301219752
(518) 858-4719
Added: Apr 30
Changed: Jul 24
Last Checked: Aug 22 at 1:06PM
MLS# 202616122
Copyright © 2026 Global MLS, Inc. 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 historic four-unit residential building dates back to 1850 and retains classic architectural character. The property is configured as a quadplex with four separate units, each described as offering period elements and distinct character. With approximately 4,984 square feet of building area on a 0.14-acre lot, it presents a compact, manageable setup for those seeking a small multi-family asset.
The address is 7 Union Street in Schenectady, located in the Historic Stockade District. Public remarks indicate it is within walking distance of local shops and restaurants, and near the Mohawk River. The property is listed under Multi Residence zoning, aligning with multi-family occupancy.
For tenants or operators, the four-unit format can support straightforward leasing and unit-by-unit management. For an owner-occupant, the building’s multi-unit design allows flexibility to live in one unit while renting the others. For buyers considering a residential income property, the size, zoning, and established quadplex configuration provide a practical starting point for underwriting and ongoing operations.
The address is 7 Union Street in Schenectady, located in the Historic Stockade District. Public remarks indicate it is within walking distance of local shops and restaurants, and near the Mohawk River. The property is listed under Multi Residence zoning, aligning with multi-family occupancy.
For tenants or operators, the four-unit format can support straightforward leasing and unit-by-unit management. For an owner-occupant, the building’s multi-unit design allows flexibility to live in one unit while renting the others. For buyers considering a residential income property, the size, zoning, and established quadplex configuration provide a practical starting point for underwriting and ongoing operations.
Key Highlights
- Historic Stockade District four‑unit property built in 1850
- Block construction with classic period details and built‑in features
- Units feature hardwood and tile flooring
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
$50,911
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
8.85%
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%
$1,018,220
$1.0M
Cap Rate 7%
$727,300
$727.3K
Cap Rate 9%
$565,678
$565.7K
Market Conditions
NOI Build-Up for 4,984 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
$98.7K $19.80/SF
− Vacancy
−$6.1K −$1.23/SF
EGI
$92.6K $18.57/SF
− OpEx
−$41.7K −$8.36/SF
NOI
$50.9K $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%
$1,018,220
Cap Rate 7%
$727,300
Cap Rate 9%
$565,678
Alternative Uses
Best Use
Multifamily LT 5
$810.8K
$709.5K – $946.0K
NOI $56,759 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$727.3K
$636.4K – $848.5K
NOI $50,911 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,425 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,779
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?
Quadplex - Four-unit property in the Historic Stockade District, built in 1850, offering flexible owner-occupant or rental use.
Where is this quadplex located?
The property is located at 7 Union Street Schenectady, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Historic Stockade District four‑unit property built in 1850; Block construction with classic period details and built‑in features; Units feature hardwood and tile flooring
