Two-Unit Duplex Near Union
For Sale
$219,900
9 Jackson Place, Schenectady, NY 12308
Residential property with two units, aluminum and vinyl siding, and natural-gas hot water service.
Property Size1,560 SF
Price / SF$140.96
Days on Market220
Property Features for 9 Jackson Place
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi Family / Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,824
Amenities
Asphalt
Hot Water, Natural Gas, Yes
Full
Yes
Aluminum Siding, Vinyl Siding
Building Details
Year Built
1927
Listing Agency:
J Paul Realty Group LLC
(518) 928-8556
Listed By:
Joseph Bonitatibus · License #10401350049
(518) 928-8556
Source:
Compass
Added: Jan 22
Changed: Aug 29
Last Checked: Aug 29 at 8:35PM
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 J Paul Realty Group LLC
Investment Insights
Based on property information with market context.
This 1,560-square-foot duplex contains two residential units within a structure built in 1927. Exterior materials include aluminum siding and vinyl siding, with hot water service connected to natural gas.
The property is located at 9 Jackson Place in Schenectady’s Union St neighborhood, two blocks from Union College. Its two-unit configuration provides a straightforward residential income property profile in an established setting.
The property is located at 9 Jackson Place in Schenectady’s Union St neighborhood, two blocks from Union College. Its two-unit configuration provides a straightforward residential income property profile in an established setting.
Key Highlights
- Two residential units in a duplex configuration
- 1,560 square feet of property size
- Two blocks from Union College
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
$17,766
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
8.08%
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%
$355,320
$355.3K
Cap Rate 7%
$253,800
$253.8K
Cap Rate 9%
$197,400
$197.4K
Market Conditions
NOI Build-Up for 1,560 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
$27.1K $17.40/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$25.4K $16.27/SF
− OpEx
−$7.6K −$4.88/SF
NOI
$17.8K $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%
$355,320
Cap Rate 7%
$253,800
Cap Rate 9%
$197,400
Alternative Uses
Best Use
Multifamily LT 5
$253.8K
$222.1K – $296.1K
NOI $17,766 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$227.6K
$199.2K – $265.6K
NOI $15,935 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$466.9K
$408.6K – $544.8K
NOI $32,685 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,823
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 - Residential property with two units, aluminum and vinyl siding, and natural-gas hot water service.
Where is this duplex located?
The property is located at 9 Jackson Place Schenectady, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two residential units in a duplex configuration; 1,560 square feet of property size; Two blocks from Union College
