Corner-Lot Two-Unit
For Sale
$240,000
Pending
4-6 Eighth Street, Oneonta, NY 13820
Residential, Oneonta, NY
Property Size2,581 SF
Lot Size0.08 Acres
Days on Market238
Property Features for 4-6 Eighth Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Basement, Bathroom 1, Bedroom 3, Bedroom 6
Interior features
CeilingFans
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Subdivision
Oneonta-City-361200
Standard status
Pending
APN
361200-300-007-0004-004-002-0000
Size
2,581 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4363
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Laminate
Building materials
AluminumSiding, Frame
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Benson Agency Real Estate LLC
(607) 432-4391
Listed By:
Mary Rab · License #30RA0875441
(607) 437-1694
Added: Jan 22
Changed: Sep 16
Last Checked: Sep 17 at 6:06PM
MLS# R1659214
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 2,581-square-foot duplex was built in 1920 and contains two apartments, each with 3 bedrooms and separate heat and electric service. The building features new windows throughout, aluminum siding, a frame structure, asphalt shingle roofing, and a basement. Interior finishes include a mix of laminate and hardwood flooring, while heating is provided by natural gas forced air. Public water, a gas water heater, and ceiling fans are also included.
Set on a 0.08-acre corner lot, the property is near Valleyview Elementary School, A.O. Fox Hospital, and downtown Oneonta. Both apartments are occupied by month-to-month tenants, and a Certificate of Compliance is provided. The layout, separate utilities, and two-bathroom configuration support continued use as a duplex property.
Set on a 0.08-acre corner lot, the property is near Valleyview Elementary School, A.O. Fox Hospital, and downtown Oneonta. Both apartments are occupied by month-to-month tenants, and a Certificate of Compliance is provided. The layout, separate utilities, and two-bathroom configuration support continued use as a duplex property.
Key Highlights
- Two apartments with 3 bedrooms each
- 2,581 square feet on a 0.08‑acre corner lot
- Separate heat and electric service for each apartment
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
$21,038
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
8.77%
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%
$420,760
$420.8K
Cap Rate 7%
$300,543
$300.5K
Cap Rate 9%
$233,756
$233.8K
Market Conditions
NOI Build-Up for 2,581 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
$40.3K $15.60/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$38.3K $14.82/SF
− OpEx
−$17.2K −$6.67/SF
NOI
$21.0K $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%
$420,760
Cap Rate 7%
$300,543
Cap Rate 9%
$233,756
Alternative Uses
Best Use
Multifamily LT 5
$322.0K
$281.7K – $375.6K
NOI $22,537 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$300.5K
$263.0K – $350.6K
NOI $21,038 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$711.5K
$622.5K – $830.1K
NOI $49,803 @ 7.0% cap · market cap 20.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
279
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 multi-bedroom apartments offer separate heat and electric service, with newer windows throughout.
Where is this duplex located?
The property is located at 4-6 Eighth Street Oneonta, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two apartments with 3 bedrooms each; 2,581 square feet on a 0.08‑acre corner lot; Separate heat and electric service for each apartment
