Canastota Multi-Family
For Sale
$199,000
108 Lewis Street, Canastota, NY 13032
Well-maintained duplex in Canastota, ideal for investors or owner-occupants.
Property Size1,743 SF
Days on Market127
Property Features for 108 Lewis Street
General Information
Standard status
Active
Size
1,743 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$4,370
Building Details
Building Size
1,743 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
Move Real Estate
(315) 430-4894
Listed By:
Thomas Tarry JR
(315) 430-4894
Source:
Wcirealty
Added: Apr 20
Changed: Aug 23
Last Checked: Aug 24 at 3:08PM
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 Move Real Estate
Investment Insights
Based on property information with market context.
This multi-family home in Canastota presents an opportunity for investment or owner-occupancy. The property includes two units, each with a private entrance. Both the downstairs and upstairs units feature 3 bedrooms and 1 full bathroom. The downstairs unit offers single-level living with a functional layout and natural light. The property is suitable for tenants or extended family living, offering separate living spaces and rental potential. The bike score is 56, indicating it is bikeable, and the walk score is 69, indicating it is somewhat walkable.
Key Highlights
- Multi‑family home with two separate units, ideal for investment or owner‑occupancy.
- Each unit features 3 bedrooms and 1 full bathroom.
- Downstairs unit offers convenient single‑level living.
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
$15,558
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
7.82%
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%
$311,160
$311.2K
Cap Rate 7%
$222,257
$222.3K
Cap Rate 9%
$172,867
$172.9K
Market Conditions
NOI Build-Up for 1,743 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
$24.1K $13.80/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$22.2K $12.75/SF
− OpEx
−$6.7K −$3.83/SF
NOI
$15.6K $8.93/SF
Area
Madison County, NY
Vacancy
7.60%
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%
$311,160
Cap Rate 7%
$222,257
Cap Rate 9%
$172,867
Alternative Uses
Best Use
Multifamily LT 5
$222.3K
$194.5K – $259.3K
NOI $15,558 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$201.1K
$176.0K – $234.6K
NOI $14,076 @ 7.0% cap · market cap 7.07%
Theoretical Best
Industrial
$585.4K
$512.2K – $682.9K
NOI $40,976 @ 7.0% cap · market cap 20.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 13032, NY
12,336
Population
6,217
Households
2
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
82.5 sq mi
ZIP Area
150
Density / Sq Mi
$74,217
Median Household Income
$39,904
Median Earnings
$920
Median Rent
$148,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex in Canastota, ideal for investors or owner-occupants.
Where is this duplex located?
The property is located at 108 Lewis Street Canastota, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Multi‑family home with two separate units, ideal for investment or owner‑occupancy.; Each unit features 3 bedrooms and 1 full bathroom.; Downstairs unit offers convenient single‑level living.
