Up-and-Down Duplex with Home
For Sale
$193,500
268 Chestnut St, Oneonta, NY 13820
Well-maintained duplex offers two two-bedroom units and in-unit laundry, with a bonus home-office room on the first floor.
Property Size2,136 SF
Days on Market59
Property Features for 268 Chestnut St
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Multi Family
Zoning
MU-2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,746
Building Details
Building Size
2,136 SF
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Oneonta Realty, LLC
(607) 434-2112
Listed By:
Patrick B. Muller · License #10401327316
(607) 434-2112
Source:
Elliman
Added: Jun 22
Changed: Aug 13
Last Checked: Aug 18 at 9:43AM
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 Oneonta Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained up-and-down duplex provides two separate apartment layouts, each with two bedrooms and one full bathroom. The first-floor unit includes a galley-style kitchen and generously sized rooms, plus a bonus room currently used as a home office. The second-floor unit also features a galley-style kitchen and large bedrooms, along with an additional separate powder room.
Recent improvements include a newer stand-up shower and the addition of an in-unit washer and dryer. The second-floor floor plan includes double doors that can open the second bedroom to the living area to create a more expansive living room, while still allowing the option to keep it configured as a private bedroom.
Located in the City of Oneonta’s MU-2 zoning district, the property is eligible for a City of Oneonta short-term rental permit. That flexibility can support a range of living-and-income strategies, whether you’re considering owner-occupancy or maintaining the duplex as a rental. The home is conveniently positioned near downtown Oneonta, SUNY Oneonta, Hartwick College, and nearby shopping and dining, making it a practical fit for tenants who value access to local amenities.
Recent improvements include a newer stand-up shower and the addition of an in-unit washer and dryer. The second-floor floor plan includes double doors that can open the second bedroom to the living area to create a more expansive living room, while still allowing the option to keep it configured as a private bedroom.
Located in the City of Oneonta’s MU-2 zoning district, the property is eligible for a City of Oneonta short-term rental permit. That flexibility can support a range of living-and-income strategies, whether you’re considering owner-occupancy or maintaining the duplex as a rental. The home is conveniently positioned near downtown Oneonta, SUNY Oneonta, Hartwick College, and nearby shopping and dining, making it a practical fit for tenants who value access to local amenities.
Key Highlights
- Up‑and‑down duplex built in 1900 with two 2‑bedroom, 1‑bath apartments
- First‑floor bonus room currently used as a home office for extra flexible space
- Recent improvements include a newer stand‑up shower and in‑unit washer and dryer
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
$17,411
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
9.00%
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%
$348,220
$348.2K
Cap Rate 7%
$248,729
$248.7K
Cap Rate 9%
$193,456
$193.5K
Market Conditions
NOI Build-Up for 2,136 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
$33.3K $15.60/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$31.7K $14.82/SF
− OpEx
−$14.2K −$6.67/SF
NOI
$17.4K $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%
$348,220
Cap Rate 7%
$248,729
Cap Rate 9%
$193,456
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.9K
NOI $18,651 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$248.7K
$217.6K – $290.2K
NOI $17,411 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$588.8K
$515.2K – $686.9K
NOI $41,216 @ 7.0% cap · market cap 21.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex offers two two-bedroom units and in-unit laundry, with a bonus home-office room on the first floor.
Where is this duplex located?
The property is located at 268 Chestnut St Oneonta, NY.
What is the asking price?
The asking price for this property is $193,500.
What are key features of this property?
This property features: Up‑and‑down duplex built in 1900 with two 2‑bedroom, 1‑bath apartments; First‑floor bonus room currently used as a home office for extra flexible space; Recent improvements include a newer stand‑up shower and in‑unit washer and dryer
