Two-Bedroom Duplex Investment
For Sale
$280,000
915 Mcclyman Street, Schenectady, NY 12307
Duplex with two-bedroom, one-bath units, suited for investors or owner-occupants in Schenectady.
Property Size2,016 SF
Price / SF$138.89
Days on Market209
Property Features for 915 Mcclyman Street
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Moonrani G Gumani
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jan 22
Changed: Aug 19
Last Checked: Aug 19 at 10:26AM
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 duplex offers two separate two-bedroom, one-bath units. Each unit is laid out for residential living with the same basic bedroom and bathroom configuration, providing a straightforward, repeatable floor plan across both sides of the property.
The property is located close to downtown Schenectady and falls within the Schenectady School District. This area proximity and school assignment may be important considerations for tenants and households looking for day-to-day convenience and local district alignment.
As a residential income property, it can fit buyers who are looking to add a duplex to a portfolio or explore a first-time homeownership approach with rental income potential. With two functional residential units in place, the property supports a practical tenant-tenant mix and can also appeal to those seeking an owner-occupant strategy where one unit serves as a residence while the other supports offsetting expenses. For anyone evaluating multifamily ownership in Schenectady, the unit configuration and clean two-unit setup offer a clear starting point for underwriting and use planning.
The property is located close to downtown Schenectady and falls within the Schenectady School District. This area proximity and school assignment may be important considerations for tenants and households looking for day-to-day convenience and local district alignment.
As a residential income property, it can fit buyers who are looking to add a duplex to a portfolio or explore a first-time homeownership approach with rental income potential. With two functional residential units in place, the property supports a practical tenant-tenant mix and can also appeal to those seeking an owner-occupant strategy where one unit serves as a residence while the other supports offsetting expenses. For anyone evaluating multifamily ownership in Schenectady, the unit configuration and clean two-unit setup offer a clear starting point for underwriting and use planning.
Key Highlights
- Duplex built in 1900
- Two‑bedroom, one‑bath units (2 units total)
- Located in Schenectady near downtown Schenectady
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
$22,959
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
8.20%
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%
$459,180
$459.2K
Cap Rate 7%
$327,986
$328.0K
Cap Rate 9%
$255,100
$255.1K
Market Conditions
NOI Build-Up for 2,016 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
$35.1K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$32.8K $16.27/SF
− OpEx
−$9.8K −$4.88/SF
NOI
$23.0K $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%
$459,180
Cap Rate 7%
$327,986
Cap Rate 9%
$255,100
Alternative Uses
Best Use
Multifamily LT 5
$328.0K
$287.0K – $382.7K
NOI $22,959 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$294.2K
$257.4K – $343.2K
NOI $20,593 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$603.4K
$528.0K – $704.0K
NOI $42,239 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 12307, NY
7,567
Population
3,491
Households
2.2
Avg Household Size
32
Median Age
14%
College-Educated
74%
High-School Grad
0.7 sq mi
ZIP Area
10,810
Density / Sq Mi
$33,191
Median Household Income
$28,878
Median Earnings
$1,110
Median Rent
$95,900
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 - Duplex with two-bedroom, one-bath units, suited for investors or owner-occupants in Schenectady.
Where is this duplex located?
The property is located at 915 Mcclyman Street Schenectady, NY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Duplex built in 1900; Two‑bedroom, one‑bath units (2 units total); Located in Schenectady near downtown Schenectady
