Three-Unit Multifamily
For Sale
$300,000
Pending
918 Bridge St, Schenectady, NY 12303
Two buildings provide separate rental accommodations across a front duplex and detached rear residence.
Property Size2,300 SF
Days on Market42
Property Features for 918 Bridge St
General Information
Standard status
Pending
Size
2,300 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$42,000
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,701
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Monticello
(518) 881-6577
Listed By:
Sharon Phanisnaraine
(518) 881-6577
Source:
Exprealty
Added: Jul 14
Changed: Aug 22
Last Checked: Aug 23 at 5:05AM
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 Monticello
Investment Insights
Based on property information with market context.
This 2,300-square-foot multifamily property contains three residential units arranged across two buildings. The primary structure at 918 and 920 Bridge St is configured as an upper and lower residence, while 922 Bridge St is a separate detached building with its own unit. The layout creates physical separation between the two-family front structure and the rear residence.
All three units are occupied, with rental addresses assigned to each residence. The property is located on Bridge St in Schenectady, New York, and the separate-building configuration supports distinct household occupancy within one multifamily asset.
All three units are occupied, with rental addresses assigned to each residence. The property is located on Bridge St in Schenectady, New York, and the separate-building configuration supports distinct household occupancy within one multifamily asset.
Key Highlights
- Three residential units across two buildings
- 2,300 square feet of multifamily improvements
- Front building contains upper and lower residences at 918 and 920 Bridge St
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
$23,494
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
7.83%
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%
$469,880
$469.9K
Cap Rate 7%
$335,629
$335.6K
Cap Rate 9%
$261,044
$261.0K
Market Conditions
NOI Build-Up for 2,300 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
$45.5K $19.80/SF
− Vacancy
−$2.8K −$1.23/SF
EGI
$42.7K $18.57/SF
− OpEx
−$19.2K −$8.36/SF
NOI
$23.5K $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%
$469,880
Cap Rate 7%
$335,629
Cap Rate 9%
$261,044
Alternative Uses
Best Use
Apartment 5plus
$335.6K
$293.7K – $391.6K
NOI $23,494 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$688.4K
$602.4K – $803.2K
NOI $48,190 @ 7.0% cap · market cap 16.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
712
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?
Multifamily property - Two buildings provide separate rental accommodations across a front duplex and detached rear residence.
Where is this multifamily property located?
The property is located at 918 Bridge St Schenectady, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Three residential units across two buildings; 2,300 square feet of multifamily improvements; Front building contains upper and lower residences at 918 and 920 Bridge St
