Updated Duplex with Modern
For Sale
$350,000
Pending
79 Western Pkwy, Schenectady, NY 12304
Two residential units offer matching three-bedroom layouts with one full bath each.
Property Size2,084 SF
Days on Market178
Property Features for 79 Western Pkwy
General Information
Standard status
Pending
Size
2,084 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,258
Listing Agency:
Miranda Real Estate Group Inc
(201) 238-4972
Listed By:
Moonrani G Gumani · License #10401352209
(201) 238-4972
Source:
Exprealty
Added: Mar 5
Changed: Aug 30
Last Checked: Aug 30 at 12:56AM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This 2,084-square-foot duplex includes two residential units, each arranged with three bedrooms and one full bathroom. Recent improvements include granite countertops, stainless steel appliances, and an electric fireplace in each unit, creating updated interiors suited to continued residential use.
The property is located at 79 Western Pkwy in Schenectady, near State Street, Central Park, shopping, restaurants, and public transportation. Its two-unit configuration supports an owner-occupant arrangement or separate rental use, as supported by the existing layout.
The property is located at 79 Western Pkwy in Schenectady, near State Street, Central Park, shopping, restaurants, and public transportation. Its two-unit configuration supports an owner-occupant arrangement or separate rental use, as supported by the existing layout.
Key Highlights
- 2,084‑square‑foot duplex with two residential units
- Each unit includes 3 bedrooms and 1 full bath
- Granite countertops and stainless steel appliances in each unit
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
$23,733
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
6.78%
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%
$474,660
$474.7K
Cap Rate 7%
$339,043
$339.0K
Cap Rate 9%
$263,700
$263.7K
Market Conditions
NOI Build-Up for 2,084 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
$36.3K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$33.9K $16.27/SF
− OpEx
−$10.2K −$4.88/SF
NOI
$23.7K $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%
$474,660
Cap Rate 7%
$339,043
Cap Rate 9%
$263,700
Alternative Uses
Best Use
Multifamily LT 5
$339.0K
$296.7K – $395.6K
NOI $23,733 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$304.1K
$266.1K – $354.8K
NOI $21,288 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$623.8K
$545.8K – $727.7K
NOI $43,664 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 12304, NY
21,513
Population
9,438
Households
2.3
Avg Household Size
40
Median Age
25%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,211
Density / Sq Mi
$67,688
Median Household Income
$43,824
Median Earnings
$1,049
Median Rent
$171,500
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?
Duplex - Two residential units offer matching three-bedroom layouts with one full bath each.
Where is this duplex located?
The property is located at 79 Western Pkwy Schenectady, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,084‑square‑foot duplex with two residential units; Each unit includes 3 bedrooms and 1 full bath; Granite countertops and stainless steel appliances in each unit
