Two-Unit Duplex with Bonus
For Sale
$193,500
268 Chestnut St, Oneonta, NY 13820
Two apartments offer flexible layouts, with a bonus room and in-unit laundry adding practical utility.
Property Size2,136 SF
Price / SF$90.59
Days on Market24
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
Amenities
in-unit washer and dryer
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Oneonta Realty LLC
(607) 434-2112
Listed By:
Patrick B. Muller · License #10401327316
Source:
Skinnercnyrealty
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 29 at 7:56PM
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 up-and-down duplex contains 2,136 square feet across two apartments, each with two bedrooms and one full bathroom. The first-floor unit includes a galley kitchen, spacious rooms, and a bonus room currently arranged as a home office. The upper apartment adds a powder room, an updated stand-up shower, and an in-unit washer and dryer. Double doors allow its second bedroom to function as either a separate sleeping area or an extension of the living room.
The property is in Oneonta’s MU-2 zoning district and is eligible for a City of Oneonta short-term rental permit. Its layout supports owner occupancy, conventional rental use, or a combination of living and income-producing arrangements. The property is located near downtown Oneonta, SUNY Oneonta, Hartwick College, shopping, dining, and other local amenities. Built in 1900, it is located at 268 Chestnut St, Oneonta, NY 13820.
The property is in Oneonta’s MU-2 zoning district and is eligible for a City of Oneonta short-term rental permit. Its layout supports owner occupancy, conventional rental use, or a combination of living and income-producing arrangements. The property is located near downtown Oneonta, SUNY Oneonta, Hartwick College, shopping, dining, and other local amenities. Built in 1900, it is located at 268 Chestnut St, Oneonta, NY 13820.
Key Highlights
- 2,136‑square‑foot up‑and‑down duplex with two separate apartments
- Both apartments provide 2 bedrooms and 1 full bathroom
- First‑floor bonus room is currently configured as a home office
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
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 - Two apartments offer flexible layouts, with a bonus room and in-unit laundry adding practical utility.
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: 2,136‑square‑foot up‑and‑down duplex with two separate apartments; Both apartments provide 2 bedrooms and 1 full bathroom; First‑floor bonus room is currently configured as a home office
