Multifamily Property with Three
For Sale
$460,000
257 Harrison Hill Road, Oneonta, NY 13820
Residential Income, Oneonta, NY
Property Size2,350 SF
Lot Size3.71 Acres
Price / SF$195.74
Days on Market53
Property Features for 257 Harrison Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 2
Patio and Porch features
Porch, Deck
Fireplace
1
High school district
LAURENS CENTRAL SCHOOL DISTRICT
Standard status
Active
APN
192.00-2-25.00
Size
2,350 SF
Lot size
3.71 Acres
Taxes and HOA fees
Tax Annual Amount
6040
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating), Baseboard, Wood, Electric (Heating)
Water source
Well
Building Details
Year built
1987
Floors in Building
2
Flooring type
Laminate, Tile, Carpet, Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
HUBBELLS REAL ESTATE INC
Listed By:
Cindy Hubbell
(607) 547-5740
Added: Aug 10
Changed: Sep 17
Last Checked: Oct 1 at 9:06PM
MLS# 11927727
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property comprises a 3BR/3BA primary residence and two ranch homes, each configured with 2BR/1BA. The main home includes beamed and vaulted ceilings, hardwood flooring, a formal dining room, fireplace, center-island kitchen, gas heat, two-car garage, and covered deck. The residences are currently used as three rentals.
The 3.71-acre property is served by three wells and three septic systems. Built in 1987, the improvements feature vinyl siding, asphalt roofing, and a mix of hardwood, laminate, tile, and carpet flooring. Heating sources include electric, wood, propane, and baseboard systems. The property is located minutes from Dreams Park and All Star Vilage baseball parks.
The 3.71-acre property is served by three wells and three septic systems. Built in 1987, the improvements feature vinyl siding, asphalt roofing, and a mix of hardwood, laminate, tile, and carpet flooring. Heating sources include electric, wood, propane, and baseboard systems. The property is located minutes from Dreams Park and All Star Vilage baseball parks.
Key Highlights
- Three rental residences: one 3BR/3BA home and two 2BR/1BA ranch homes
- 3.71‑acre multifamily property with 2,350 square feet of property size
- Three wells and three septic tanks serve the residences
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
$19,155
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
4.16%
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%
$383,100
$383.1K
Cap Rate 7%
$273,643
$273.6K
Cap Rate 9%
$212,833
$212.8K
Market Conditions
NOI Build-Up for 2,350 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
$36.7K $15.60/SF
− Vacancy
−$1.8K −$0.78/SF
EGI
$34.8K $14.82/SF
− OpEx
−$15.7K −$6.67/SF
NOI
$19.2K $8.15/SF
Area
Otsego County, NY
Vacancy
5.00%
Lease Rate
$15.60 /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%
$383,100
Cap Rate 7%
$273,643
Cap Rate 9%
$212,833
Alternative Uses
Best Use
Apartment 5plus
$273.6K
$239.4K – $319.3K
NOI $19,155 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$647.8K
$566.8K – $755.8K
NOI $45,346 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
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Demographics for 13820, NY
21,605
Population
10,083
Households
2.1
Avg Household Size
30
Median Age
40%
College-Educated
91%
High-School Grad
107.3 sq mi
ZIP Area
201
Density / Sq Mi
$66,217
Median Household Income
$26,154
Median Earnings
$983
Median Rent
$176,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three rental residences occupy a 3.71-acre site with private wells and septic systems.
Where is this multifamily property located?
The property is located at 257 Harrison Hill Road Oneonta, NY.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Three rental residences: one 3BR/3BA home and two 2BR/1BA ranch homes; 3.71‑acre multifamily property with 2,350 square feet of property size; Three wells and three septic tanks serve the residences
