Student Housing Rental
16-18 Myrtle Avenue Oneonta, NY 13820
16-18 Myrtle Avenue, Oneonta, NY, 13820
$1,100,000
For Sale
$1,100,000
For sale as a package, a three-property portfolio with permitted student housing and units already furnished and leased.
Property Size6,534 SF
Price / SF$168.35
Days on Market62
Property Features for 16-18 Myrtle Avenue
General Information
- Standard status
- Active
- Size
- 6,534 SF
- Property subtype
- Multi Family / Other
Building Details
- Year Built
- 1982
Listing agency
Land and Water Realty LLC
(845) 807-2630
Listed by
Travis O'Dell · License #10401263952
(845) 807-2630
Source
Compass
Added: May 22 Updated: Jul 21 at 9:47AM Checked: Jul 21 at 9:47AM
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 Land and Water Realty LLC
Investment Insights
Based on property information with market context.
This three-property rental portfolio is offered as a package and includes permitted student housing across all buildings. The lineup consists of 32 Ford Avenue (a 2-unit property totaling 5 bedrooms), 8 Franklin Street (a single-family residence with 3 bedrooms and potential for a 4th bedroom conversion), and 16-18 Myrtle Avenue (a large duplex with a grandfathered 10-person occupancy rate). The portfolio is described as buttoned-up, up-to-date, and fully permitted.
All properties are located in Oneonta, NY and are available furnished and leased for the upcoming school year, positioning the portfolio for immediate occupancy.
For investors seeking a turn-key mix within the same student housing framework, the package combines multiple configurations—duplex and single-family—under one ownership offering.
All properties are located in Oneonta, NY and are available furnished and leased for the upcoming school year, positioning the portfolio for immediate occupancy.
For investors seeking a turn-key mix within the same student housing framework, the package combines multiple configurations—duplex and single-family—under one ownership offering.
Key Highlights
- Three‑property student rental portfolio for sale as a package in Oneonta, NY
- 32 Ford Avenue: 2‑unit property with 5 total bedrooms
- 8 Franklin Street: single‑family 3‑bedroom with potential for a 4th bedroom conversion
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.2k | $13.20 |
| − Vacancy | −$4.7k | −$0.73 |
| EGI | $81.5k | $12.47 |
| − OpEx | −$24.5k | −$3.74 |
| NOI | $57.1k | $8.73 |
6,534 SF · lease $13.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$815.1K
$713.2K – $950.9K
NOI $57,054 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$760.8K
$665.7K – $887.7K
NOI $53,259 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,080 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - For sale as a package, a three-property portfolio with permitted student housing and units already furnished and leased.
Where is this duplex located?
The property is located at 16-18 Myrtle Avenue Oneonta, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑property student rental portfolio for sale as a package in Oneonta, NY; 32 Ford Avenue: 2‑unit property with 5 total bedrooms; 8 Franklin Street: single‑family 3‑bedroom with potential for a 4th bedroom conversion
