Building Details

Building Size 1,680 SF

Year Built 1940

Stories 2

Units 2

Listing Agency: Howard Hanna Cny Inc a***@howardhanna.com Show Phone

Listed By: Azza Giorgi Show Phone

Source: Wcirealty

Added: Aug 3 Changed: Aug 19 Last Checked: Aug 19 at 2:34PM

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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 Howard Hanna Cny Inc

Investment Insights

Based on property information with market context.

Built in 1940, this duplex at 18 Fairdale Pl offers two residential units within a recently refreshed property. Improvements include a new roof and fresh interior paint. The first-floor apartment features hardwood flooring, generous room sizes, natural light, and a fireplace in the living area. The upper unit has a private rear entrance, an open layout, and a large bedroom.

Each unit has its own dedicated driveway, providing separate parking access for occupants. The property is located in the Whitesboro School District and near amenities and eateries. Zoning is Residential 2 Unit.

Key Highlights

• Two‑unit duplex in the Whitesboro School District
• New roof and fresh paint throughout
• First‑floor unit with hardwood floors and fireplace

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

$15,216

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

6.09%

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%

$304,320 $304.3K

Cap Rate 7%

$217,371 $217.4K

Cap Rate 9%

$169,067 $169.1K

Market Conditions

NOI Build-Up for 1,680 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

$23.2K $13.80/SF

− Vacancy

−$1.4K −$0.86/SF

EGI

$21.7K $12.94/SF

− OpEx

−$6.5K −$3.88/SF

NOI

$15.2K $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%

$304,320

Cap Rate 7%

$217,371

Cap Rate 9%

$169,067

Alternative Uses

Best Use

Multifamily LT 5

$217.4K

$190.2K – $253.6K (±1% cap)

NOI $15,216 @ 7.0% cap · market cap 6.09%

Second Best

Apartment 5plus

$199.8K

$174.8K – $233.1K (±1% cap)

NOI $13,985 @ 7.0% cap · market cap 5.60%

Theoretical Best

Office A

$442.7K

$387.4K – $516.5K (±1% cap)

NOI $30,990 @ 7.0% cap · market cap 12.40%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Dental Office Kitchen & Bath Showroom Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

197

Businesses Nearby

Explore this area Business Placement

Demographics for 13492, NY

11,457

Population

4,983

Households

2.3

Avg Household Size

44

Median Age

37%

College-Educated

95%

High-School Grad

15.3 sq mi

ZIP Area

749

Density / Sq Mi

$84,543

Median Household Income

$48,005

Median Earnings

$920

Median Rent

$192,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Refreshed duplex with private entrances, hardwood flooring, and a classic fireplace.

Where is this duplex located?

The property is located at 18 Fairdale Pl Whitesboro, NY.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: Two‑unit duplex in the Whitesboro School District; New roof and fresh paint throughout; First‑floor unit with hardwood floors and fireplace