Duplex with Five
For Sale
$575,000
278 Main Street, Cooperstown, NY 13326
MULTI_FAMILY - Cooperstown, NY
Property Size2,612 SF
Lot Size1.02 Acres
Price / SF$220.14
Days on Market36
Property Features for 278 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 3
High school district
COOPERSTOWN CENTRAL SCHOOL DISTRICT
Directions
Left at light, (west) go up Main Street on right.
Standard status
Active
APN
115.17-1-3.01
Size
2,612 SF
Lot size
1.02 Acres
Taxes and HOA fees
Tax Annual Amount
3024
Utilities
Heating system
Oil, Forced Air
Water source
Public
Amenities
hardwood flooring
appliances
recessed lighting
ceramic tile baths
granite countertop
Building Details
Year built
1870
Floors in Building
2
Flooring type
Hardwood, Tile, Carpet
Roof type
Metal, Rubber
Listing Agency:
HUBBELLS REAL ESTATE INC
Listed By:
Cindy Hubbell
Added: Jul 17
Changed: Aug 13
Last Checked: Aug 21 at 8:06AM
MLS# 11891771
Copyright © 2026 My State MLS. 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.
Duplex at 278 Main Street in Cooperstown, NY offering five bedrooms and three bathrooms across two sides—an arrangement suited to living in one unit while renting the other. The property features a mix of carpet, tile, and hardwood flooring. Kitchens include granite countertops, and appliances are provided.
The home was built in 1870 and sits on 1.02 acres (2,612 SF). Heating is oil and forced air, with public water service. The roof is described as rubber and metal.
This duplex format can appeal to buyers looking for an owner-occupant setup supported by a residential income layout, with interior finishes including ceramic tile baths and granite-counter kitchens.
The home was built in 1870 and sits on 1.02 acres (2,612 SF). Heating is oil and forced air, with public water service. The roof is described as rubber and metal.
This duplex format can appeal to buyers looking for an owner-occupant setup supported by a residential income layout, with interior finishes including ceramic tile baths and granite-counter kitchens.
Key Highlights
- Five‑bedroom duplex with three bathrooms
- 1.02‑acre lot
- 2,612 SF
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
$22,807
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
3.97%
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%
$456,140
$456.1K
Cap Rate 7%
$325,814
$325.8K
Cap Rate 9%
$253,411
$253.4K
Market Conditions
NOI Build-Up for 2,612 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
$34.5K $13.20/SF
− Vacancy
−$1.9K −$0.73/SF
EGI
$32.6K $12.47/SF
− OpEx
−$9.8K −$3.74/SF
NOI
$22.8K $8.73/SF
Area
Otsego County, NY
Vacancy
5.50%
Lease Rate
$13.20 /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%
$456,140
Cap Rate 7%
$325,814
Cap Rate 9%
$253,411
Alternative Uses
Best Use
Multifamily LT 5
$325.8K
$285.1K – $380.1K
NOI $22,807 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$304.1K
$266.1K – $354.8K
NOI $21,290 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,401 @ 7.0% cap · market cap 8.77%
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
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 13326, NY
4,893
Population
2,724
Households
1.8
Avg Household Size
51
Median Age
48%
College-Educated
96%
High-School Grad
92.1 sq mi
ZIP Area
53
Density / Sq Mi
$70,977
Median Household Income
$33,740
Median Earnings
$1,120
Median Rent
$308,600
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 five bedrooms, ceramic tile baths, and oil forced-air heat on public water.
Where is this duplex located?
The property is located at 278 Main Street Cooperstown, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Five‑bedroom duplex with three bathrooms; 1.02‑acre lot; 2,612 SF
