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    982 S Schodack Rd Castleton, NY 12033
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    982 S Schodack Rd Castleton, NY 12033

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    • Quadplexes
    For Sale
    $675,000
    View Listing →
    Multifamily Property in Castleton, NY For Sale
    $675,000
    4,224 SF

    Multifamily Property in Castleton, NY

    Four-unit multifamily property with immediate cash flow and recent renovations.

    982 S Schodack Road, Castleton, NY 12033
    View Listing
    Property ID
    US63-5701687
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Quadplexes

    Property Details for 982 S Schodack Rd

    Property type
    Quadplexes

    Description

    This is an online only auction ending 8/21. Listing price reflects full market value according to public records. Seriously motivated seller moving out of state and liquidating assets. Four-unit apartment with barn and potential 1 acre lot to sell in country setting. Ready for renovation! 4-unit garden apartment style recently gutted and debris removed. Two, 2-bedroom/1 bath apartments, One 2-bedrooms/2 bath apartment and One, 3-bedroom/1 bath apartment. Two entrances on the North side and two off front porch. Total 4,224+/- sq. ft., built in 1780+/-. Just prior to COVID new septic and well at $50K cost to seller. Utilities include gas and electric. Zoned R-40, possible lot subdivision of level one acre portion of the property to the north with road frontage. Large barn with lots of potential for work/storage/entertainment space. Beautiful rural Rensselaer County setting just over the border from Columbia County. Located near Route 9 and I-90 (NYS Thruway Berkshire Connector) for easy commute to Albany. Also near Schodack Island State Park and summertime fun of Town of Schodack Music in the Parks. Full market Assessed value 2024 $307,692. Schodack School District.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Castleton
    County
    Rensselaer
    State
    New York
    Longitude
    -73.701383
    Latitude
    42.498205

    Comparable in this City

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      982 S Schodack Rd, Castleton, NY 12033
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      Rented Multifamily Property on Acreage

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      Commercial Land with Road Frontage

      7.42 acres of commercial land with road frontage.
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    Similar Nearby for Sale

    • $675,000
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      Multifamily Property in Castleton, NY

      Four-unit multifamily property with immediate cash flow and recent renovations.
      982 S Schodack Rd, Castleton, NY 12033
      View Details
    • $245,000
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      Castleton-on-Hudson Tavern/Restaurant For Sale

      Tavern/restaurant with apartment potential in Castleton-on-Hudson, NY.
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    • $389,000
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      Two-Family Home with River Views

      Newly built two-family property with Hudson River views.
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    • $1,299,000
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      Rented Multifamily Property on Acreage

      Ten-unit multifamily property with recent renovations and income potential.
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    • $60,000

      Land Near Interstate 90

      Vacant land with easy access to Interstate 90.
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      Commercial Land with Road Frontage

      7.42 acres of commercial land with road frontage.
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    Similar Nearby for Lease

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    • Contact for pricing
      450,000 SF

      Schodack Build-to-Suit Opportunity

      42.41 acres available for build to suit opportunity.
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      Schodack Land Build to Suit

      42.41 acres available for build to suit opportunity.
      71 Schodack Dr, Castleton, NY 12033
      View Details
    • $1,900 /Mo
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      Professional Office Space For Rent

      Well-laid out office space suitable for office, medical, or spa services.
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      View Details
    View Listing
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    Castleton, NY 12033
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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