Two-Unit Duplex with
For Sale
$193,500
268 Chestnut Street, Oneonta, NY 13820
Residential, Oneonta, NY
Property Size2,136 SF
Lot Size0.10 Acres
Price / SF$90.59
Days on Market81
Property Features for 268 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Basement, Bedroom 1, Bedroom 2
Patio and Porch features
Deck
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Irregular Lot, Residential Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Subdivision
Oneonta-City-361200
Standard status
Active
APN
299.8-2-8
Size
2,136 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4746
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Amenities
in-unit washer and dryer
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Laminate, Vinyl, Carpet
Building materials
VinylSiding
Listing Agency:
Oneonta Realty LLC
(607) 433-2873
Listed By:
Patrick B. Muller · License #10401327316
(607) 434-2112
Added: Jun 21
Changed: Sep 7
Last Checked: Sep 9 at 2:06AM
MLS# R1689794
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This up-and-down duplex contains two apartments, each with two bedrooms and one full bathroom. The first-floor unit includes a galley kitchen, large rooms, and an additional room currently used as a home office. The second-floor unit adds a powder room, a newer stand-up shower, and an in-unit washer and dryer. Double doors allow its second bedroom to function as an expanded living area or remain enclosed. A deck, vinyl siding, natural gas baseboard and hot-water heating, and public water serve the property. The building dates to 1900 and provides 2,136 square feet on a 0.10-acre lot.
The property is in Oneonta's MU-2 zoning district and is eligible for a City of Oneonta short-term rental permit. Its location at 268 Chestnut Street places it near downtown Oneonta, SUNY Oneonta, Hartwick College, shopping, dining, and local amenities. The prior owner-occupied configuration demonstrates flexibility for residential use with rental income potential.
The property is in Oneonta's MU-2 zoning district and is eligible for a City of Oneonta short-term rental permit. Its location at 268 Chestnut Street places it near downtown Oneonta, SUNY Oneonta, Hartwick College, shopping, dining, and local amenities. The prior owner-occupied configuration demonstrates flexibility for residential use with rental income potential.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- 2,136 square feet on a 0.10‑acre lot
- Second‑floor unit includes a powder room and in‑unit washer and dryer
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
$17,411
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
9.00%
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%
$348,220
$348.2K
Cap Rate 7%
$248,729
$248.7K
Cap Rate 9%
$193,456
$193.5K
Market Conditions
NOI Build-Up for 2,136 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
$33.3K $15.60/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$31.7K $14.82/SF
− OpEx
−$14.2K −$6.67/SF
NOI
$17.4K $8.15/SF
Area
Otsego County, NY
Vacancy
5.00%
Lease Rate
$15.60 /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%
$348,220
Cap Rate 7%
$248,729
Cap Rate 9%
$193,456
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.9K
NOI $18,651 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$248.7K
$217.6K – $290.2K
NOI $17,411 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$588.8K
$515.2K – $686.9K
NOI $41,216 @ 7.0% cap · market cap 21.30%
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
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 13820, NY
21,605
Population
10,083
Households
2.1
Avg Household Size
30
Median Age
40%
College-Educated
91%
High-School Grad
107.3 sq mi
ZIP Area
201
Density / Sq Mi
$66,217
Median Household Income
$26,154
Median Earnings
$983
Median Rent
$176,300
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 - Two apartments offer flexible layouts, separate kitchens, and owner-occupant or rental use.
Where is this duplex located?
The property is located at 268 Chestnut Street Oneonta, NY.
What is the asking price?
The asking price for this property is $193,500.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; 2,136 square feet on a 0.10‑acre lot; Second‑floor unit includes a powder room and in‑unit washer and dryer
