Updated Two-Family
For Sale
$284,900
972-974 Main Avenue, Schenectady, NY 12303
Vacant two-bedroom units feature hardwood floors, newer appliances, and access to unfinished basement areas.
Property Size2,213 SF
Price / SF$128.74
Days on Market140
Property Features for 972-974 Main Avenue
General Information
Standard status
Active
Size
2,213 SF
Total Parking Spaces
5
Property subtype
Multi Family / Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,555
Amenities
Shingle, Asphalt
Forced Air, Hot Water, Natural Gas, Yes
Full
Hardwood
Yes
Vinyl Siding
In Basement
Garage(s)
Garden
Front Porch
Building Details
Year Built
1910
Listing Agency:
Scorzafava Real Estate Group LLC
(518) 847-7962
Listed By:
Scott Scorzafava · License #10491210709
(518) 847-7962
Source:
Compass
Added: Apr 13
Changed: Aug 29
Last Checked: Aug 29 at 10:44PM
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 Scorzafava Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 2,213-square-foot duplex, built in 1910, contains two residential units arranged as two bedrooms over two bedrooms. The property is currently vacant and includes unfinished basement areas with an additional bedroom and bathroom. Interior features include hardwood flooring, some new appliances, forced-air and hot-water systems, and natural gas service. Vinyl siding, a front porch, garden space, and garage access add to the physical improvements.
The home is located on Main Avenue in Schenectady, near downtown, shopping, restaurants, schools, parks, and a bus line. Its two-unit layout and vacant status support either owner occupancy or use as a residential income property, as stated in the property information.
The home is located on Main Avenue in Schenectady, near downtown, shopping, restaurants, schools, parks, and a bus line. Its two-unit layout and vacant status support either owner occupancy or use as a residential income property, as stated in the property information.
Key Highlights
- Two‑unit duplex with 2 bedrooms over 2 bedrooms
- 2,213 square feet on a 1910‑built property
- Vacant property with unfinished areas containing an additional bedroom and bathroom
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
$25,202
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
8.85%
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%
$504,040
$504.0K
Cap Rate 7%
$360,029
$360.0K
Cap Rate 9%
$280,022
$280.0K
Market Conditions
NOI Build-Up for 2,213 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
$38.5K $17.40/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$36.0K $16.27/SF
− OpEx
−$10.8K −$4.88/SF
NOI
$25.2K $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%
$504,040
Cap Rate 7%
$360,029
Cap Rate 9%
$280,022
Alternative Uses
Best Use
Multifamily LT 5
$360.0K
$315.0K – $420.0K
NOI $25,202 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$322.9K
$282.6K – $376.8K
NOI $22,605 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$662.4K
$579.6K – $772.8K
NOI $46,367 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
509
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?
Duplex - Vacant two-bedroom units feature hardwood floors, newer appliances, and access to unfinished basement areas.
Where is this duplex located?
The property is located at 972-974 Main Avenue Schenectady, NY.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms over 2 bedrooms; 2,213 square feet on a 1910‑built property; Vacant property with unfinished areas containing an additional bedroom and bathroom
