Well-Maintained Triplex with Off-Street
For Sale
$299,900
88 W Main St 1-3, Milford, NY 13807
Three well-maintained residential units offer flexible living and rental options with off-street parking and outdoor space.
Property Size3,039 SF
Price / SF$99.97
Days on Market62
Property Features for 88 W Main St 1-3
General Information
Standard status
Active
Size
3,039 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,687
Building Details
Building Size
3,039 SF
Year Built
1876
Stories
2
Units
3
Listing Agency:
(607) 435-3290
Listed By:
Jaclyn Flynn
(607) 435-3290
Source:
Elliman
Added: Jun 17
Changed: Aug 12
Last Checked: Aug 16 at 7:56AM
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 Jaclyn Flynn
Investment Insights
Based on property information with market context.
This well-maintained village triplex features three residential units with a mix of layouts, including a spacious 3-bedroom, 2-bath unit, a 2-bedroom, 1-bath unit, and a 1-bedroom, 1-bath unit. The property has been carefully maintained, with numerous improvements made over the years, and is set up with practical shared features such as a designated laundry area, storage space, an inviting front porch, and outdoor living areas. Additional amenities include off-street parking and a spacious backyard.
Located in the Village of Milford, the property is convenient to Cooperstown and is described as being just minutes from Bassett Medical Center, schools, shopping, restaurants, and local attractions. The area is somewhat bikeable with car-dependent walkability, which supports tenants and residents who rely on personal transportation.
The unit mix can fit a range of living arrangements, whether an owner-occupant wants one unit for themselves while keeping others available for additional household needs. For investors or operators, the configuration provides multiple independent residential options within a single, maintained property, along with on-site parking, storage, and laundry support.
Located in the Village of Milford, the property is convenient to Cooperstown and is described as being just minutes from Bassett Medical Center, schools, shopping, restaurants, and local attractions. The area is somewhat bikeable with car-dependent walkability, which supports tenants and residents who rely on personal transportation.
The unit mix can fit a range of living arrangements, whether an owner-occupant wants one unit for themselves while keeping others available for additional household needs. For investors or operators, the configuration provides multiple independent residential options within a single, maintained property, along with on-site parking, storage, and laundry support.
Key Highlights
- Village of Milford triplex built in 1876 with three residential units
- Over 3,000 sq ft of living space with a 3BD/2BA unit plus a 2BD/1BA and a 1BD/1BA unit
- Off‑street parking, plus storage space for residents
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
$26,195
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
8.73%
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%
$523,900
$523.9K
Cap Rate 7%
$374,214
$374.2K
Cap Rate 9%
$291,056
$291.1K
Market Conditions
NOI Build-Up for 3,000 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
$39.6K $13.20/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$37.4K $12.47/SF
− OpEx
−$11.2K −$3.74/SF
NOI
$26.2K $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%
$523,900
Cap Rate 7%
$374,214
Cap Rate 9%
$291,056
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.6K
NOI $26,195 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$827.0K
$723.6K – $964.8K
NOI $57,888 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three well-maintained residential units offer flexible living and rental options with off-street parking and outdoor space.
Where is this triplex located?
The property is located at 88 W Main St 1-3 Milford, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Village of Milford triplex built in 1876 with three residential units; Over 3,000 sq ft of living space with a 3BD/2BA unit plus a 2BD/1BA and a 1BD/1BA unit; Off‑street parking, plus storage space for residents
