Two-Unit
New
For Sale
$123,706
109 Liberty Street, Oswego, NY 13126
Separate electric meters serve the two residential units, with layouts that can also be returned to a single-family configuration.
Property Size1,323 SF
Days on Market5
Property Features for 109 Liberty Street
General Information
Standard status
Active
Size
1,323 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
with just a few finishing touches remaining
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,966
Building Details
Building Size
1,323 SF
Year Built
1920
Buildings
1
Listing Agency:
Century 21 Leah's Signature
Listed By:
Meagan Keib · License #10401294562
(315) 598-1165
Source:
Highfallssir
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 5:07PM
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 Century 21 Leah's Signature
Investment Insights
Based on property information with market context.
Configured as a duplex, the 1920-built residence has two distinct living spaces and separate electric meters. The finished lower unit includes two bedrooms, one full bathroom, and a new kitchen and bathroom. Upstairs, the one-bedroom unit has a kitchen and bathroom in place, with remaining finishing work to complete. Newer windows are installed throughout.
The property is near SUNY Oswego, Oswego Hospital, and bus lines. Its current two-unit arrangement can also be changed back to a single-family layout.
The property is near SUNY Oswego, Oswego Hospital, and bus lines. Its current two-unit arrangement can also be changed back to a single-family layout.
Key Highlights
- Two residential units with separate electric meters
- Finished lower unit has 2 bedrooms, 1 full bath, and a new kitchen and bathroom
- Upper unit includes 1 bedroom, a kitchen, and a bathroom; finishing work remains
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
$10,910
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
8.82%
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%
$218,200
$218.2K
Cap Rate 7%
$155,857
$155.9K
Cap Rate 9%
$121,222
$121.2K
Market Conditions
NOI Build-Up for 1,323 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
$16.7K $12.60/SF
− Vacancy
−$1.1K −$0.82/SF
EGI
$15.6K $11.78/SF
− OpEx
−$4.7K −$3.53/SF
NOI
$10.9K $8.25/SF
Area
Oswego County, NY
Vacancy
6.50%
Lease Rate
$12.60 /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%
$218,200
Cap Rate 7%
$155,857
Cap Rate 9%
$121,222
Alternative Uses
Best Use
Multifamily LT 5
$155.9K
$136.4K – $181.8K
NOI $10,910 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$145.0K
$126.9K – $169.2K
NOI $10,149 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$263.9K
$230.9K – $307.9K
NOI $18,472 @ 7.0% cap · market cap 14.93%
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
1,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 13126, NY
35,477
Population
15,668
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
100.7 sq mi
ZIP Area
352
Density / Sq Mi
$63,590
Median Household Income
$30,469
Median Earnings
$992
Median Rent
$134,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate electric meters serve the two residential units, with layouts that can also be returned to a single-family configuration.
Where is this duplex located?
The property is located at 109 Liberty Street Oswego, NY.
What is the asking price?
The asking price for this property is $123,706.
What are key features of this property?
This property features: Two residential units with separate electric meters; Finished lower unit has 2 bedrooms, 1 full bath, and a new kitchen and bathroom; Upper unit includes 1 bedroom, a kitchen, and a bathroom; finishing work remains
