Duplex with Attached
For Sale
$265,000
10635 Hinman Rd E, Barneveld, NY 13304
Two-level duplex with separate electric service, hardwood floors, and a fenced yard.
Property Size2,046 SF
Days on Market10
Property Features for 10635 Hinman Rd E
General Information
Standard status
Active
Size
2,046 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,230
Building Details
Building Size
2,046 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
Hoke Properties, LLC
Listed By:
David J Hoke
(315) 709-2821
Source:
Elliman
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 16 at 5:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hoke Properties, LLC
Investment Insights
Based on property information with market context.
This duplex includes a two-bedroom lower unit and a three-bedroom apartment above, offering separate living spaces within one residential property. Hardwood flooring extends through both levels, while updated windows and a boiler support the building’s existing improvements. Each unit has separate electric service, and public water serves the property. An attached 21x17 garage provides additional enclosed space.
The property sits on over 2 private acres with a large fenced and gated yard. It is positioned at the corner of Rt12 S and Hinman Rd in the Mapledale business corridor, with a 10-minute drive to Utica/Wynn Hospital and 20 minutes to the Rome region. The setting is rural and quiet, with access to nearby Trenton Greenbelt trails.
The property sits on over 2 private acres with a large fenced and gated yard. It is positioned at the corner of Rt12 S and Hinman Rd in the Mapledale business corridor, with a 10-minute drive to Utica/Wynn Hospital and 20 minutes to the Rome region. The setting is rural and quiet, with access to nearby Trenton Greenbelt trails.
Key Highlights
- Two‑bedroom lower unit and three‑bedroom upper apartment
- Separate electric service for each unit
- Over 2 private acres with a large fenced and gated yard
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
$18,531
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
6.99%
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%
$370,620
$370.6K
Cap Rate 7%
$264,729
$264.7K
Cap Rate 9%
$205,900
$205.9K
Market Conditions
NOI Build-Up for 2,046 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
$28.2K $13.80/SF
− Vacancy
−$1.8K −$0.86/SF
EGI
$26.5K $12.94/SF
− OpEx
−$7.9K −$3.88/SF
NOI
$18.5K $9.06/SF
Area
Oneida County, NY
Vacancy
6.24%
Lease Rate
$13.80 /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%
$370,620
Cap Rate 7%
$264,729
Cap Rate 9%
$205,900
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$243.3K
$212.9K – $283.9K
NOI $17,032 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$539.2K
$471.8K – $629.0K
NOI $37,741 @ 7.0% cap · market cap 14.24%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 13304, NY
1,573
Population
796
Households
2
Avg Household Size
47
Median Age
48%
College-Educated
96%
High-School Grad
17.6 sq mi
ZIP Area
89
Density / Sq Mi
$105,313
Median Household Income
$55,607
Median Earnings
$1,264
Median Rent
$254,500
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-level duplex with separate electric service, hardwood floors, and a fenced yard.
Where is this duplex located?
The property is located at 10635 Hinman Rd E Barneveld, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑bedroom lower unit and three‑bedroom upper apartment; Separate electric service for each unit; Over 2 private acres with a large fenced and gated yard
