Two-Family Duplex Near Business
For Sale
$265,000
Pending
8 Lomasney Avenue, Schenectady, NY 12308
Two flats support an owner-occupant arrangement with additional rental income potential near local employment and commercial destinations.
Property Size2,294 SF
Days on Market83
Property Features for 8 Lomasney Avenue
General Information
Standard status
Pending
Size
2,294 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,292
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Simon's Rock Realty LLC
Listed By:
Peter C DellaRatta
(518) 378-7383
Source:
Capmarkrealty
Added: Jul 24
Changed: Oct 10
Last Checked: Oct 11 at 3:23AM
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 Simon's Rock Realty LLC
Investment Insights
Based on property information with market context.
Located at 8 Lomasney Avenue, this 1927 two-family property contains two separate flats within a 2294-size residential income asset. The configuration supports an owner-occupant seeking additional rental income or separate occupancy by two income-producing households, as described in the property information.
The property sits between the Vale Park greenspace area and the Eastern Avenue business district. It is also described as being close to General Electric, GE Vernova, GE Aerospace, KAPL, the casino, and downtown establishments, placing employment, business, and entertainment destinations within the surrounding area.
The property sits between the Vale Park greenspace area and the Eastern Avenue business district. It is also described as being close to General Electric, GE Vernova, GE Aerospace, KAPL, the casino, and downtown establishments, placing employment, business, and entertainment destinations within the surrounding area.
Key Highlights
- Two‑family property with two separate flats
- 1927 year built
- 2294 property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,433
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,660
$468.7K
Cap Rate 7%
$334,757
$334.8K
Cap Rate 9%
$260,367
$260.4K
Market Conditions
NOI Build-Up for 2,294 SF
Gross rent
$45.4K $19.80/SF
− Vacancy
−$2.8K −$1.23/SF
EGI
$42.6K $18.57/SF
− OpEx
−$19.2K −$8.36/SF
NOI
$23.4K $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 Rate 5%
$468,660
Cap Rate 7%
$334,757
Cap Rate 9%
$260,367
Alternative Uses
Best Use
Multifamily LT 5
$373.2K
$326.6K – $435.4K
NOI $26,125 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$334.8K
$292.9K – $390.6K
NOI $23,433 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$686.6K
$600.8K – $801.1K
NOI $48,064 @ 7.0% cap · market cap 18.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two flats support an owner-occupant arrangement with additional rental income potential near local employment and commercial destinations.
Where is this duplex located?
The property is located at 8 Lomasney Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑family property with two separate flats; 1927 year built; 2294 property size
