Triplex with Pole
For Sale
$274,900
571 Southside Dr, Oneonta, NY 13820
Clean, well-maintained triplex includes three rental units and a large pole barn on a 1.03-acre lot.
Property Size2,128 SF
Lot Size1.03 Acres
Days on Market23
Property Features for 571 Southside Dr
General Information
Standard status
Active
Size
2,128 SF
Lot size
1.03 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,462
Amenities
covered front porch
private deck
one car garage
large pole barn
off-street parking
expansive yard
Building Details
Building Size
2,128 SF
Year Built
1840
Stories
2
Units
3
Listing Agency:
The Holscher Group
(607) 376-7505
Listed By:
Benjamin Holscher · License #10401320780
(607) 376-7505
Source:
Elliman
Added: Jul 26
Changed: Aug 14
Last Checked: Aug 16 at 6:32AM
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 Holscher Group
Investment Insights
Based on property information with market context.
This for-sale triplex includes three well-maintained rental units: one two-bedroom, one-bath apartment on the lower level, and two one-bedroom, one-bath apartments on the upper level. The property features a covered front porch, off-street parking, and a private deck at the back serving the top two units. The lower level also attaches to a one-car garage. A large pole barn on the property provides additional space for storage, equipment, or other income-generating uses.
The home is located on Southside Drive in Oneonta, New York, on a spacious 1.03-acre lot. The site offers a sizable yard in addition to the parking and outdoor living areas connected to the residences.
The unit layout provides a straightforward mix of apartment sizes, with the lower-level unit serving as the two-bedroom offering and the upstairs units each configured as one-bedroom, one-bath apartments.
The home is located on Southside Drive in Oneonta, New York, on a spacious 1.03-acre lot. The site offers a sizable yard in addition to the parking and outdoor living areas connected to the residences.
The unit layout provides a straightforward mix of apartment sizes, with the lower-level unit serving as the two-bedroom offering and the upstairs units each configured as one-bedroom, one-bath apartments.
Key Highlights
- Triplex on a 1.03‑acre lot with three well‑maintained rental units and off‑street parking.
- Unit mix: one 2‑bedroom, 1‑bath apartment downstairs plus two 1‑bedroom, 1‑bath apartments upstairs.
- Large pole barn with plenty of clearance for storage, equipment, or added income potential.
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
$18,581
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
6.76%
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%
$371,620
$371.6K
Cap Rate 7%
$265,443
$265.4K
Cap Rate 9%
$206,456
$206.5K
Market Conditions
NOI Build-Up for 2,128 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
$28.1K $13.20/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$26.5K $12.47/SF
− OpEx
−$8.0K −$3.74/SF
NOI
$18.6K $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%
$371,620
Cap Rate 7%
$265,443
Cap Rate 9%
$206,456
Alternative Uses
Best Use
Multifamily LT 5
$265.4K
$232.3K – $309.7K
NOI $18,581 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$247.8K
$216.8K – $289.1K
NOI $17,345 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$586.6K
$513.3K – $684.4K
NOI $41,062 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
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
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 - Clean, well-maintained triplex includes three rental units and a large pole barn on a 1.03-acre lot.
Where is this triplex located?
The property is located at 571 Southside Dr Oneonta, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Triplex on a 1.03‑acre lot with three well‑maintained rental units and off‑street parking.; Unit mix: one 2‑bedroom, 1‑bath apartment downstairs plus two 1‑bedroom, 1‑bath apartments upstairs.; Large pole barn with plenty of clearance for storage, equipment, or added income potential.
