Two-Unit Duplex with Six
For Sale
$299,000
846 Union St, Schenectady, NY 12308
Fully occupied duplex with separate tenant-paid utilities and a mix of two- and four-bedroom units.
Property Size1,972 SF
Price / SF$151.62
Days on Market38
Property Features for 846 Union St
General Information
Standard status
Active
Size
1,972 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 4BR
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Howard Hanna Capital Inc
(518) 669-1804
Listed By:
Michael Field
(518) 669-1804
Source:
Fieldrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 26 at 12:37PM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 1,972 square feet with six bedrooms, two full bathrooms, and a two-bedroom/four-bedroom unit mix. The property was built in 1900 and includes both forced-air and baseboard heating. Each residence has its own utility responsibility, while the building is currently fully occupied.
Located at 846 Union Street in Schenectady, the property is zoned Multi Residence. It may be acquired on its own or included with an 11-building multifamily portfolio.
Located at 846 Union Street in Schenectady, the property is zoned Multi Residence. It may be acquired on its own or included with an 11-building multifamily portfolio.
Key Highlights
- Two‑unit duplex at 846 Union Street, Schenectady, NY 12308
- Approximately 1,972 square feet with 6 bedrooms and 2 full baths
- Unit mix includes one 2‑bedroom residence and one 4‑bedroom residence
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
$22,458
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
7.51%
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%
$449,160
$449.2K
Cap Rate 7%
$320,829
$320.8K
Cap Rate 9%
$249,533
$249.5K
Market Conditions
NOI Build-Up for 1,972 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
$34.3K $17.40/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$32.1K $16.27/SF
− OpEx
−$9.6K −$4.88/SF
NOI
$22.5K $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%
$449,160
Cap Rate 7%
$320,829
Cap Rate 9%
$249,533
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.3K
NOI $22,458 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$287.8K
$251.8K – $335.7K
NOI $20,144 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$590.2K
$516.5K – $688.6K
NOI $41,317 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,373
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
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 - Fully occupied duplex with separate tenant-paid utilities and a mix of two- and four-bedroom units.
Where is this duplex located?
The property is located at 846 Union St Schenectady, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex at 846 Union Street, Schenectady, NY 12308; Approximately 1,972 square feet with 6 bedrooms and 2 full baths; Unit mix includes one 2‑bedroom residence and one 4‑bedroom residence
