Schenectady Triplex with Vacant
For Sale
$239,900
Pending
815 Davis Terrace, Schenectady, NY 12303
MULTI_FAMILY - Other - Schenectady, NY
Property Size2,048 SF
Lot Size0.11 Acres
Days on Market100
Property Features for 815 Davis Terrace
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 3
Parking
4
Parking features
Off Street
Patio and Porch features
Porch
Basement
Full
Lot features
Level
High school
Schenectady
Elementary school district
Schenectady
Middle school district
Schenectady
High school district
Schenectady
Directions
Crane St to 3rd Ave to Davis Terrrace
Standard status
Pending
APN
421500 49.53-3-29
Size
2,048 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
6153
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1910
Number of units
3
Flooring type
Carpet, Vinyl
Building materials
Aluminum Siding
Roof type
Rubber
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Jamie M Mazuryk · License #10301221528
(518) 929-4475
Added: May 12
Changed: Aug 19
Last Checked: Aug 19 at 2:06PM
MLS# 202616958
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 well-maintained 3-unit apartment building in Schenectady offers an excellent investment opportunity with strong income potential. All units are fully occupied. Lease terms and rental details are available. The property features spacious apartments with separate utilities and ample off-street parking. Its location is convenient to shopping, restaurants, schools, and major highways. Included with the sale is an adjacent vacant parcel, providing additional possibilities for expansion, parking, outdoor space, or future development opportunities. The lot size is 0.11 acres and the property size is 2048 square feet. This is a fantastic opportunity with built-in income and added value potential. The property is located in Schenectady, NY, with a postal code of 12303.
Key Highlights
- 3‑unit apartment building with all units fully occupied
- Separate utilities for each unit
- Ample off‑street parking
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
$20,920
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
8.72%
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%
$418,400
$418.4K
Cap Rate 7%
$298,857
$298.9K
Cap Rate 9%
$232,444
$232.4K
Market Conditions
NOI Build-Up for 2,048 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
$40.6K $19.80/SF
− Vacancy
−$2.5K −$1.23/SF
EGI
$38.0K $18.57/SF
− OpEx
−$17.1K −$8.36/SF
NOI
$20.9K $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%
$418,400
Cap Rate 7%
$298,857
Cap Rate 9%
$232,444
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.5K – $388.7K
NOI $23,323 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$298.9K
$261.5K – $348.7K
NOI $20,920 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$613.0K
$536.4K – $715.2K
NOI $42,910 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
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 - Well-maintained Schenectady triplex with income potential and expansion possibilities.
Where is this triplex located?
The property is located at 815 Davis Terrace Schenectady, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 3‑unit apartment building with all units fully occupied; Separate utilities for each unit; Ample off‑street parking
