Two-Unit Duplex with Carriage
New
For Sale
$199,000
11 Fonda Ave, Oneonta, NY 13820
Two residential units with separate layouts and an additional carriage barn on the property.
Property Size1,988 SF
Days on Market6
Property Features for 11 Fonda Ave
General Information
Standard status
Active
Size
1,988 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,624
Building Details
Building Size
1,988 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
BENSON AGENCY REAL ESTATE LLC
Listed By:
Michele L. Frazier · License #10401272246
(607) 435-8879
Source:
Elliman
Added: Sep 12
Changed: Sep 14
Last Checked: Sep 16 at 4:50PM
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 BENSON AGENCY REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This duplex, built in 1900, contains two residential apartments with distinct floor plans. The first-floor unit offers three bedrooms, an eat-in kitchen, and a living room. Upstairs, the second apartment includes two bedrooms, a kitchen with built-in wall cabinetry, and a spacious living room. The property also includes a yard and an older carriage barn.
The carriage barn may offer additional residential potential, subject to proper city approvals. Located at 11 Fonda Ave in Oneonta, New York, the property has a Walk Score of 0 and a Bike Score of 48, indicating a car-dependent setting with some bicycle access.
The carriage barn may offer additional residential potential, subject to proper city approvals. Located at 11 Fonda Ave in Oneonta, New York, the property has a Walk Score of 0 and a Bike Score of 48, indicating a car-dependent setting with some bicycle access.
Key Highlights
- Two‑unit duplex with separate first- and second‑floor apartments
- First‑floor layout includes 3 bedrooms, eat‑in kitchen, and living room
- Second‑floor apartment provides 2 bedrooms, kitchen, and spacious living room
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
$17,359
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
8.72%
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%
$347,180
$347.2K
Cap Rate 7%
$247,986
$248.0K
Cap Rate 9%
$192,878
$192.9K
Market Conditions
NOI Build-Up for 1,988 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
$26.2K $13.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$24.8K $12.47/SF
− OpEx
−$7.4K −$3.74/SF
NOI
$17.4K $8.73/SF
Area
Otsego County, NY
Vacancy
5.50%
Lease Rate
$13.20 /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%
$347,180
Cap Rate 7%
$247,986
Cap Rate 9%
$192,878
Alternative Uses
Best Use
Multifamily LT 5
$248.0K
$217.0K – $289.3K
NOI $17,359 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$231.5K
$202.6K – $270.1K
NOI $16,204 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$548.0K
$479.5K – $639.3K
NOI $38,360 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
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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
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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 - Two residential units with separate layouts and an additional carriage barn on the property.
Where is this duplex located?
The property is located at 11 Fonda Ave Oneonta, 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: Two‑unit duplex with separate first- and second‑floor apartments; First‑floor layout includes 3 bedrooms, eat‑in kitchen, and living room; Second‑floor apartment provides 2 bedrooms, kitchen, and spacious living room
