Two-Family Income
For Sale
$259,900
Pending
131 Whitesboro St, Whitestown, NY 13495
Two separate units with independent utilities, new flooring, freshly painted interiors, and a large 2014-built garage.
Property Size2,275 SF
Days on Market57
Property Features for 131 Whitesboro St
General Information
Standard status
Pending
Size
2,275 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,073
Building Details
Building Size
2,275 SF
Year Built
1910
Units
2
Tenancy
Multi
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
(315) 794-6090
Listed By:
Martin C. Bell · License #40BE1090095
(315) 794-6090
Source:
Elliman
Added: Jul 5
Changed: Aug 8
Last Checked: Aug 29 at 12:13PM
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 Assist2Sell Buyers & Sellers 1st Choice
Investment Insights
Based on property information with market context.
This two-family property offers two levels of residential living with separate utilities. The first floor features three bedrooms, a living room and a dining room/office-bonus room, a tiled bath, and an eat-in kitchen with stove, refrigerator, dishwasher, and microwave, plus washer and dryer. Oversized rooms include a full side enclosed porch. The second floor includes two bedrooms, a living room, and a kitchen with stove and refrigerator, along with French doors. New LTV (luxury tile vinyl) flooring runs throughout both apartments, and interiors have been freshly painted. A hot water heater was installed in 2024.
The property includes a large constructed garage built in 2014 with depth for three vehicles, along with a large parking area for multiple vehicles and a private yard. The home is identified as part of the Whitesboro School System.
Buyers can consider the layout as a live-in-and-lease configuration or as a straightforward residential income asset, supported by the separation of utilities and the defined two-apartment structure.
The property includes a large constructed garage built in 2014 with depth for three vehicles, along with a large parking area for multiple vehicles and a private yard. The home is identified as part of the Whitesboro School System.
Buyers can consider the layout as a live-in-and-lease configuration or as a straightforward residential income asset, supported by the separation of utilities and the defined two-apartment structure.
Key Highlights
- Two‑family home built in 1910 offering over 2,200 sq ft of living space in the Whitesboro School System
- Separate utilities for each unit—ideal for owner‑occupant or investor use
- 2014‑constructed large garage plus large parking area for 6+ vehicles
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
$19,926
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
7.67%
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%
$398,520
$398.5K
Cap Rate 7%
$284,657
$284.7K
Cap Rate 9%
$221,400
$221.4K
Market Conditions
NOI Build-Up for 2,200 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
$30.4K $13.80/SF
− Vacancy
−$1.9K −$0.86/SF
EGI
$28.5K $12.94/SF
− OpEx
−$8.5K −$3.88/SF
NOI
$19.9K $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%
$398,520
Cap Rate 7%
$284,657
Cap Rate 9%
$221,400
Alternative Uses
Best Use
Multifamily LT 5
$284.7K
$249.1K – $332.1K
NOI $19,926 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$261.6K
$228.9K – $305.2K
NOI $18,314 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$579.7K
$507.3K – $676.4K
NOI $40,582 @ 7.0% cap · market cap 15.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 13495, NY
2,183
Population
965
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
94%
High-School Grad
0.9 sq mi
ZIP Area
2,426
Density / Sq Mi
$63,517
Median Household Income
$48,797
Median Earnings
$1,067
Median Rent
$148,100
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?
Duplex - Two separate units with independent utilities, new flooring, freshly painted interiors, and a large 2014-built garage.
Where is this duplex located?
The property is located at 131 Whitesboro St Whitestown, NY.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑family home built in 1910 offering over 2,200 sq ft of living space in the Whitesboro School System; Separate utilities for each unit—ideal for owner‑occupant or investor use; 2014‑constructed large garage plus large parking area for 6+ vehicles
