Building Details

Year Built 1792

Buildings 1

Listing Agency: Coldwell Banker Timberland Properties

Listed By: Cody A. Rose Show Phone

Source: Skinnercnyrealty

Added: Aug 7 Changed: Oct 11 Last Checked: Oct 7 at 2:24PM

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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 Coldwell Banker Timberland Properties

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Investment Insights

Based on property information with market context.

Located at 116 N Main St in Milford, New York, this 4,116-square-foot duplex contains two remodeled apartments. One unit offers two bedrooms, while the other includes six bedrooms and an additional upstairs bonus room. Together, the units accommodate sleeping arrangements for 18 guests.

Recent improvements include two renovated kitchens, three new bathrooms, a new water heater, a second water heater that is one year old, and a new washer/dryer combination. The property sits on over an acre with a fire pit area, above-ground pool, and sitting areas in both the front and rear. Cooperstown Dreams Park is a short 5 minute drive away, and the National Baseball Hall of Fame is 15 minutes away. The property is currently an Airbnb Superhost listing booked through the Summer baseball season.

Key Highlights

• 4,116‑square‑foot duplex with two remodeled units
• One 2‑bedroom unit and one 6‑bedroom unit with an upstairs bonus room
• Combined sleeping capacity of 18 guests

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,940

Cap Rate

9.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$718,800 $718.8K

Cap Rate 7%

$513,429 $513.4K

Cap Rate 9%

$399,333 $399.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,116 SF

Gross rent

$54.3K $13.20/SF

− Vacancy

−$3.0K −$0.73/SF

EGI

$51.3K $12.47/SF

− OpEx

−$15.4K −$3.74/SF

NOI

$35.9K $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 Rate 5%

$718,800

Cap Rate 7%

$513,429

Cap Rate 9%

$399,333

Alternative Uses

Best Use

Multifamily LT 5

$513.4K

$449.3K – $599.0K (±1% cap)

NOI $35,940 @ 7.0% cap · market cap 9.01%

Second Best

Apartment 5plus

$479.3K

$419.4K – $559.2K (±1% cap)

NOI $33,550 @ 7.0% cap · market cap 8.41%

Theoretical Best

Office A

$1.13M

$992.8K – $1.32M (±1% cap)

NOI $79,422 @ 7.0% cap · market cap 19.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Building Supply Bakery Grocery & Convenience Store Auto Parts Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

71

Businesses Nearby

Explore this area Business Placement

Demographics for 13807, NY

1,061

Population

719

Households

1.5

Avg Household Size

51

Median Age

35%

College-Educated

91%

High-School Grad

21.5 sq mi

ZIP Area

49

Density / Sq Mi

$86,250

Median Household Income

$34,047

Median Earnings

$838

Median Rent

$167,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two updated residences feature flexible bedroom layouts, outdoor gathering areas, and an above-ground pool.

Where is this duplex located?

The property is located at 116 N Main St Milford, NY.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 4,116‑square‑foot duplex with two remodeled units; One 2‑bedroom unit and one 6‑bedroom unit with an upstairs bonus room; Combined sleeping capacity of 18 guests