Duplex with Detached Two-Bay
For Sale
Under Contract
$195,000
317 Myrtle Street, Vestal, NY 13850
MultiFamily, Two Family, VESTAL, NY
Property Size1,600 SF
Lot Size0.31 Acres
Price / SF$121.88
Days on Market108
Property Features for 317 Myrtle Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
210
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 2
Parking features
Carport, Oversize, Garage
Patio and Porch features
Porch, Patio
Exterior features
COVERED PATIO, ENCLOSED PORCH, SHED
Appliances
DRYER, OVEN, REFRIGERATOR, WASHER
Subdivision
Twin Orchards 03
Lot features
F E N C E D Y A R D, G E N E R A L L Y L E V E L
Elementary school
Vestal Hills
Elementary school district
Vestal
Middle school district
Vestal
High school district
Vestal
Directions
Vestal Rd to Myrtle
Standard status
Active Under Contract
APN
034800-158-045-0002-010-000-0000
Size
1,600 SF
Lot size
0.31 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1928
Number of units
2
Flooring type
Hardwood
Architectural style
Other
Listing Agency:
JESSICA DILLENBECK REAL ESTATE LLC
Listed By:
Jessica L. Dillenbeck
(607) 343-8486
Added: Jun 5
Changed: Sep 14
Last Checked: Sep 20 at 12:06PM
MLS# 336727
Copyright © 2026 Greater Binghamton Association of Realtor. 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 duplex property combines a ranch-style main residence with a one-bedroom apartment above a detached two-bay garage. Together, the living spaces provide four bedrooms and two full bathrooms. The main home includes a living room, dining area, kitchen with pantry, basement storage, laundry area, hardwood flooring, and a rear utility room. The upper apartment includes living, kitchen, and bathroom areas. Appliances include a washer, dryer, oven, and refrigerator.
The property at 317 Myrtle Street includes 0.31 acres with a fenced lawn, covered patio, enclosed porch, shed with electric, custom firepit patio area, oversized carport, and garage parking. The carport is accessible from Maple Street. Built in 1928, the property uses forced-air heating and public water. It is currently owner occupied, and no rent roll is available.
The property at 317 Myrtle Street includes 0.31 acres with a fenced lawn, covered patio, enclosed porch, shed with electric, custom firepit patio area, oversized carport, and garage parking. The carport is accessible from Maple Street. Built in 1928, the property uses forced-air heating and public water. It is currently owner occupied, and no rent roll is available.
Key Highlights
- 0.31 acres across the combined parcels
- Four bedrooms and two full bathrooms across the two living spaces
- Detached two bay garage with a one bedroom apartment above
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
$14,297
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
7.33%
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%
$285,940
$285.9K
Cap Rate 7%
$204,243
$204.2K
Cap Rate 9%
$158,856
$158.9K
Market Conditions
NOI Build-Up for 1,600 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
$22.1K $13.80/SF
− Vacancy
−$1.7K −$1.04/SF
EGI
$20.4K $12.77/SF
− OpEx
−$6.1K −$3.83/SF
NOI
$14.3K $8.94/SF
Area
Broome County, NY
Vacancy
7.50%
Lease Rate
$13.80 /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%
$285,940
Cap Rate 7%
$204,243
Cap Rate 9%
$158,856
Alternative Uses
Best Use
Multifamily LT 5
$204.2K
$178.7K – $238.3K
NOI $14,297 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$190.4K
$166.6K – $222.2K
NOI $13,329 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$396.9K
$347.3K – $463.1K
NOI $27,786 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
342
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two connected living spaces include a ranch home and a garage apartment with separate kitchens and baths.
Where is this duplex located?
The property is located at 317 Myrtle Street Vestal, NY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 0.31 acres across the combined parcels; Four bedrooms and two full bathrooms across the two living spaces; Detached two bay garage with a one bedroom apartment above
