Building Details

Year Built 1986

Year Renovated 2019

Tenancy Multi

Listing Agency: Coldwell Banker Whitbeck

Listed By: Kimberly Llewellyn · License #10301209351 Show Phone

Source: Crexi

Added: May 5 Changed: Aug 23 Last Checked: Sep 7 at 12:32AM

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Investment Insights

Based on property information with market context.

This turnkey duplex offers two separate residential units on a private lot. Each unit features 2 bedrooms and 1.5 baths, along with private covered porches. The property was completely updated in 2019, and the units include in-unit washer and dryer with functional layouts and separate living spaces.

The duplex is located at 2973 State Route 11 in Mooers Forks, NY. Ample parking is available on site.

Designed for both rental generation and owner-occupancy, the property provides a straightforward two-unit configuration with modernized updates and immediate occupancy.

Key Highlights

• Duplex built in 1986 with two 2‑bedroom, 1.5‑bath units on a private lot
• Completely updated in 2019 and ready for immediate occupancy
• Each unit has private covered porches 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

$20,491

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

7.07%

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%

$409,820 $409.8K

Cap Rate 7%

$292,729 $292.7K

Cap Rate 9%

$227,678 $227.7K

Market Conditions

NOI Build-Up for 2,400 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

$31.7K $13.20/SF

− Vacancy

−$2.4K −$1.00/SF

EGI

$29.3K $12.20/SF

− OpEx

−$8.8K −$3.66/SF

NOI

$20.5K $8.54/SF

Area

Clinton County, NY

Vacancy

7.60%

Lease Rate

$13.20 /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%

$409,820

Cap Rate 7%

$292,729

Cap Rate 9%

$227,678

Alternative Uses

Best Use

Multifamily LT 5

$292.7K

$256.1K – $341.5K (±1% cap)

NOI $20,491 @ 7.0% cap · market cap 7.07%

Second Best

Apartment 5plus

$260.2K

$227.7K – $303.6K (±1% cap)

NOI $18,216 @ 7.0% cap · market cap 6.28%

Theoretical Best

Office A

$661.6K

$578.9K – $771.8K (±1% cap)

NOI $46,310 @ 7.0% cap · market cap 15.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Storage Facility Auto Repair Shop Restaurant Department Store

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area Business Placement

Demographics for 12959, NY

1,382

Population

927

Households

1.5

Avg Household Size

45

Median Age

15%

College-Educated

88%

High-School Grad

42.6 sq mi

ZIP Area

32

Density / Sq Mi

$68,813

Median Household Income

$52,344

Median Earnings

$193,800

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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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained duplex on a private lot with two 2-bedroom units, each offering covered porches and in-unit washer and dryer.

Where is this duplex located?

The property is located at 2973 State Route 11 Mooers Forks, NY.

What is the asking price?

The asking price for this property is $290,000.

What are key features of this property?

This property features: Duplex built in 1986 with two 2‑bedroom, 1.5‑bath units on a private lot; Completely updated in 2019 and ready for immediate occupancy; Each unit has private covered porches and in‑unit washer and dryer