4-Unit Multifamily
New
For Sale
$369,900
11-13 Dennison Ave 11, Whitestown, NY 13492
Multifamily asset with three two-bedroom apartments and one one-bedroom apartment.
Property Size3,744 SF
Days on Market2
Property Features for 11-13 Dennison Ave 11
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,058
Building Details
Building Size
3,744 SF
Year Built
1960
Stories
2
Units
4
Listing Agency:
The Beach Real Estate Team
(315) 796-3533
Listed By:
Sheila A. Beach
(315) 796-3533
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 10:28AM
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 The Beach Real Estate Team
Investment Insights
Based on property information with market context.
This four-unit multifamily property was built in 1960 and includes a practical mix of apartment layouts. Three units offer two bedrooms and one full bathroom each, while the remaining unit contains one bedroom and one full bathroom.
The property has a Walk Score of 51 and a Bike Score of 39, indicating somewhat walkable and somewhat bikeable conditions. The unit mix provides a combination of two-bedroom and one-bedroom residences within a single apartment asset.
The property has a Walk Score of 51 and a Bike Score of 39, indicating somewhat walkable and somewhat bikeable conditions. The unit mix provides a combination of two-bedroom and one-bedroom residences within a single apartment asset.
Key Highlights
- Four total apartment units
- Three 2‑bedroom, 1‑bath apartments
- One 1‑bedroom, 1‑bath 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
$33,910
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
9.17%
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%
$678,200
$678.2K
Cap Rate 7%
$484,429
$484.4K
Cap Rate 9%
$376,778
$376.8K
Market Conditions
NOI Build-Up for 3,744 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
$51.7K $13.80/SF
− Vacancy
−$3.2K −$0.86/SF
EGI
$48.4K $12.94/SF
− OpEx
−$14.5K −$3.88/SF
NOI
$33.9K $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%
$678,200
Cap Rate 7%
$484,429
Cap Rate 9%
$376,778
Alternative Uses
Best Use
Multifamily LT 5
$484.4K
$423.9K – $565.2K
NOI $33,910 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$445.2K
$389.6K – $519.5K
NOI $31,167 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$986.6K
$863.3K – $1.15M
NOI $69,063 @ 7.0% cap · market cap 18.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 13492, NY
11,457
Population
4,983
Households
2.3
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
15.3 sq mi
ZIP Area
749
Density / Sq Mi
$84,543
Median Household Income
$48,005
Median Earnings
$920
Median Rent
$192,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily asset with three two-bedroom apartments and one one-bedroom apartment.
Where is this quadplex located?
The property is located at 11-13 Dennison Ave 11 Whitestown, NY.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Four total apartment units; Three 2‑bedroom, 1‑bath apartments; One 1‑bedroom, 1‑bath apartment
