Two-Unit Duplex with
For Sale
$189,900
5 Normal Avenue, Oneonta, NY 13820
Residential, Oneonta, NY
Property Size2,103 SF
Lot Size0.13 Acres
Price / SF$90.30
Days on Market41
Property Features for 5 Normal Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Basement, Bathroom 1
Parking features
Paved or Surfaced, Garage
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
Main St to Maple St. Top of Maple take a left. House is on the right.
Subdivision
Oneonta-City-361200
Standard status
Active
APN
288.14-1-39
Size
2,103 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
6600
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Tile, Vinyl
Building materials
Frame
Roof type
Flat
Listing Agency:
Oneonta Realty, LLC
(607) 441-7312
Listed By:
Christine Keto · License #30KE1019431
(607) 287-8458
Added: Aug 10
Changed: Sep 16
Last Checked: Sep 19 at 4:06PM
MLS# R1705961
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 2,103-square-foot frame duplex contains two apartments, each arranged with two bedrooms, a living room, dining area, kitchen, and bathroom. Interior finishes include hardwood, vinyl, and tile flooring, while forced-air natural gas heat serves the property. A two-car garage, paved parking surface, basement, flat roof, and public water are also included. The structure was built in 1900 and occupies a 0.13-acre lot.
The property is in Oneonta near a university campus and a bus route, with Wilber Park nearby and downtown several blocks away. Each apartment has a separate utility arrangement in which tenants pay their own utilities. The address is 5 Normal Avenue, Oneonta, NY 13820.
The property is in Oneonta near a university campus and a bus route, with Wilber Park nearby and downtown several blocks away. Each apartment has a separate utility arrangement in which tenants pay their own utilities. The address is 5 Normal Avenue, Oneonta, NY 13820.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 2,103 square feet on a 0.13‑acre lot
- Two‑car garage with paved parking surface
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
$17,142
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
9.03%
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%
$342,840
$342.8K
Cap Rate 7%
$244,886
$244.9K
Cap Rate 9%
$190,467
$190.5K
Market Conditions
NOI Build-Up for 2,103 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
$32.8K $15.60/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$31.2K $14.82/SF
− OpEx
−$14.0K −$6.67/SF
NOI
$17.1K $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%
$342,840
Cap Rate 7%
$244,886
Cap Rate 9%
$190,467
Alternative Uses
Best Use
Multifamily LT 5
$262.3K
$229.5K – $306.1K
NOI $18,363 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$244.9K
$214.3K – $285.7K
NOI $17,142 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$579.7K
$507.2K – $676.3K
NOI $40,579 @ 7.0% cap · market cap 21.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
401
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer two bedrooms, living and dining areas, kitchens, and individual bathrooms.
Where is this duplex located?
The property is located at 5 Normal Avenue Oneonta, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 2,103 square feet on a 0.13‑acre lot; Two‑car garage with paved parking surface
