Updated Duplex with Separate
New
For Sale
$129,900
115 Furnace Ave, Oneida, NY 13421
Two residential units offer flexible owner-occupant and rental use with refreshed mechanical systems and outdoor spaces.
Property Size1,460 SF
Days on Market2
Property Features for 115 Furnace Ave
General Information
Standard status
Active
Size
1,460 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,727
Amenities
private deck
covered front porch
side porch
concrete patio
partially fenced back yard
Building Details
Building Size
1,460 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Coldwell Banker Prime Prop. Inc.
Listed By:
Laurie Benedict
(315) 762-4032
Source:
Elliman
Added: Sep 13
Last Checked: Sep 14 at 9:18AM
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 Prime Prop. Inc.
Investment Insights
Based on property information with market context.
This two-unit residential property includes a lower-level apartment with two bedrooms, one bathroom, an eat-in kitchen, and access to a private deck. The upper apartment has one bedroom and may accommodate a second bedroom. Exterior features include a covered front porch, side porch, partially fenced rear yard, and concrete patio with electric service available.
Both units have separate furnaces, hot water heaters, electrical service, and gas service. Additional improvements include blown-in insulation and updated furnaces and hot water heaters. Built in 1900, the property is located at 115 Furnace Ave in Oneida, New York. Walk Score is 52 and Bike Score is 43, classified as Somewhat Walkable and Somewhat Bikeable, respectively.
Both units have separate furnaces, hot water heaters, electrical service, and gas service. Additional improvements include blown-in insulation and updated furnaces and hot water heaters. Built in 1900, the property is located at 115 Furnace Ave in Oneida, New York. Walk Score is 52 and Bike Score is 43, classified as Somewhat Walkable and Somewhat Bikeable, respectively.
Key Highlights
- Two‑unit duplex at 115 Furnace Ave, Oneida, NY 13421
- Lower unit includes 2 bedrooms, 1 bath, and an eat‑in kitchen
- Upper unit has 1 bedroom with potential for a second bedroom
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
$11,791
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
9.08%
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%
$235,820
$235.8K
Cap Rate 7%
$168,443
$168.4K
Cap Rate 9%
$131,011
$131.0K
Market Conditions
NOI Build-Up for 1,460 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
$23.3K $15.96/SF
− Vacancy
−$1.9K −$1.28/SF
EGI
$21.4K $14.68/SF
− OpEx
−$9.6K −$6.61/SF
NOI
$11.8K $8.08/SF
Area
Madison County, NY
Vacancy
8.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$235,820
Cap Rate 7%
$168,443
Cap Rate 9%
$131,011
Alternative Uses
Best Use
Multifamily LT 5
$186.2K
$162.9K – $217.2K
NOI $13,032 @ 7.0% cap · market cap 10.03%
Second Best
Apartment 5plus
$168.4K
$147.4K – $196.5K
NOI $11,791 @ 7.0% cap · market cap 9.08%
Theoretical Best
Industrial
$490.3K
$429.0K – $572.1K
NOI $34,323 @ 7.0% cap · market cap 26.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 13421, NY
12,807
Population
5,953
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
90%
High-School Grad
40.1 sq mi
ZIP Area
319
Density / Sq Mi
$63,732
Median Household Income
$42,189
Median Earnings
$846
Median Rent
$147,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible owner-occupant and rental use with refreshed mechanical systems and outdoor spaces.
Where is this duplex located?
The property is located at 115 Furnace Ave Oneida, NY.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Two‑unit duplex at 115 Furnace Ave, Oneida, NY 13421; Lower unit includes 2 bedrooms, 1 bath, and an eat‑in kitchen; Upper unit has 1 bedroom with potential for a second bedroom
