Six-Unit Apartment
For Sale
Contact for pricing
205 Rano BLVD, Vestal, NY 13850
Multifamily property combining townhouse-style residences with studio and three-bedroom units.
Property Size6,368 SF
Price / SF$114.62
Days on Market12
Property Features for 205 Rano BLVD
General Information
Standard status
Active
Size
6,368 SF
Property subtype
Multifamily
Zoning
Mult Res
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$61,655
Units
Unit Mix
4 x townhouse, 1 x studio, 1 x 3BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Building Details
Year Built
1980
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Exit Realty Homeward Bound Vestal
(607) 729-5500
Listed By:
Robert Farrell · License #NY
Source:
Crexi
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 7 at 6:17AM
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 Exit Realty Homeward Bound Vestal
Investment Insights
Based on property information with market context.
Built in 1980, this 6,368-square-foot multifamily property contains six residential units in a varied configuration. The rear portion includes four townhouse-style residences, while the front section contains one studio and one three-bedroom apartment. The property is zoned Mult Res and has a tenant history that includes long-term occupants.
Recent improvements include a new roof, fascia, insulation, and 14 skylights. The property is situated in Vestal with access to shopping, restaurants, schools, public transportation, and major roadways. Its unit mix provides a combination of townhouse-style and traditional apartment layouts within one residential income property.
Recent improvements include a new roof, fascia, insulation, and 14 skylights. The property is situated in Vestal with access to shopping, restaurants, schools, public transportation, and major roadways. Its unit mix provides a combination of townhouse-style and traditional apartment layouts within one residential income property.
Key Highlights
- Six residential units totaling 6,368 SF
- Unit mix includes four rear townhouse‑style units, one studio, and one three‑bedroom apartment
- 14 new skylights
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
$53,051
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
7.27%
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%
$1,061,020
$1.1M
Cap Rate 7%
$757,871
$757.9K
Cap Rate 9%
$589,456
$589.5K
Market Conditions
NOI Build-Up for 6,368 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
$103.2K $16.20/SF
− Vacancy
−$6.7K −$1.05/SF
EGI
$96.5K $15.15/SF
− OpEx
−$43.4K −$6.82/SF
NOI
$53.1K $8.33/SF
Area
Broome County, NY
Vacancy
6.50%
Lease Rate
$16.20 /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%
$1,061,020
Cap Rate 7%
$757,871
Cap Rate 9%
$589,456
Alternative Uses
Best Use
Apartment 5plus
$757.9K
$663.1K – $884.2K
NOI $53,051 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,589 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Explore this area
Business Placement
Demographics for 13850, NY
22,135
Population
10,427
Households
2.1
Avg Household Size
43
Median Age
45%
College-Educated
94%
High-School Grad
51.1 sq mi
ZIP Area
433
Density / Sq Mi
$81,627
Median Household Income
$44,821
Median Earnings
$1,111
Median Rent
$185,700
Median Home Value
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?
Apartment building - Multifamily property combining townhouse-style residences with studio and three-bedroom units.
Where is this apartment building located?
The property is located at 205 Rano BLVD Vestal, NY.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Six residential units totaling 6,368 SF; Unit mix includes four rear townhouse‑style units, one studio, and one three‑bedroom apartment; 14 new skylights
