4-Unit Building with Owner’s
New
For Sale
$625,000
134 Erwin St, Boonville, NY 13309
Residential income property with shared laundry, storage, furnished living space, and all-electric utility service.
Property Size3,584 SF
Days on Market5
Property Features for 134 Erwin St
General Information
Standard status
Active
Size
3,584 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$2,749
Amenities
shared laundry
common area storage
Building Details
Building Size
3,584 SF
Year Built
2015
Buildings
1
Stories
2
Units
4
Listing Agency:
(315) 796-6467
Listed By:
Jerry Almas
(315) 796-6467
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 10:56AM
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 Jerry Almas
Investment Insights
Based on property information with market context.
This quadplex contains three two-bedroom, one-bath units and a furnished one-bedroom, one-bath suite that can serve as an owner’s residence or Airbnb-ready unit. The building includes shared laundry and additional storage in a common area. Each residence has stainless steel appliances, including a refrigerator, dishwasher, stove, and microwave hood, along with a kitchen sink equipped with a garbage disposal. All units use electric service supplied by Boonville’s municipal power system.
The property is located at 134 Erwin St in Boonville, within walking distance of schools, shops, restaurants, the Boonville Fair, and Woodsmen Field Days. The Tug Hill trailhead is a few blocks away. WalkScore is 56 and bikeScore is 44, both reflecting moderate walkability and bike access.
The property is located at 134 Erwin St in Boonville, within walking distance of schools, shops, restaurants, the Boonville Fair, and Woodsmen Field Days. The Tug Hill trailhead is a few blocks away. WalkScore is 56 and bikeScore is 44, both reflecting moderate walkability and bike access.
Key Highlights
- Four‑unit configuration with three 2 bed/1 bath apartments and one 1 bed/1 bath furnished suite
- Furnished suite identified as an owner’s unit or Airbnb‑ready space
- Shared laundry and additional storage in the common area
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
$32,461
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
5.19%
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%
$649,220
$649.2K
Cap Rate 7%
$463,729
$463.7K
Cap Rate 9%
$360,678
$360.7K
Market Conditions
NOI Build-Up for 3,584 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
$49.5K $13.80/SF
− Vacancy
−$3.1K −$0.86/SF
EGI
$46.4K $12.94/SF
− OpEx
−$13.9K −$3.88/SF
NOI
$32.5K $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%
$649,220
Cap Rate 7%
$463,729
Cap Rate 9%
$360,678
Alternative Uses
Best Use
Multifamily LT 5
$463.7K
$405.8K – $541.0K
NOI $32,461 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$944.5K
$826.4K – $1.10M
NOI $66,112 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 13309, NY
5,906
Population
2,804
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
91%
High-School Grad
145.2 sq mi
ZIP Area
41
Density / Sq Mi
$70,377
Median Household Income
$46,839
Median Earnings
$751
Median Rent
$196,800
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?
Quadplex - Residential income property with shared laundry, storage, furnished living space, and all-electric utility service.
Where is this quadplex located?
The property is located at 134 Erwin St Boonville, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four‑unit configuration with three 2 bed/1 bath apartments and one 1 bed/1 bath furnished suite; Furnished suite identified as an owner’s unit or Airbnb‑ready space; Shared laundry and additional storage in the common area
