4-Unit Apartment
New
For Sale
$325,000
34 E Albany St, Oswego, NY 13126
Four apartments feature separate utilities, covered entry space, and low-maintenance exterior cladding on a corner parcel.
Property Size3,700 SF
Days on Market4
Property Features for 34 E Albany St
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,801
Amenities
covered front porch
Building Details
Building Size
3,700 SF
Year Built
1900
Buildings
2
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Hunt Real Estate ERA
(315) 622-5757
Listed By:
Teri L Beckwith · License #40BE0846273
(315) 622-5757
Source:
Elliman
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 9:27AM
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 Hunt Real Estate ERA
Investment Insights
Based on property information with market context.
This 4-unit apartment property, built in 1900, contains two 3-bedroom apartments and two 2-bedroom apartments. The building has an asphalt shingle roof, vinyl siding, and a covered front porch. Separate utility services serve the apartments, supporting distinct unit-level operations.
The property occupies a corner lot at 34 E Albany St in Oswego, with an additional adjacent lot on E Albany. It is also being offered as part of a package that includes a separate 2-family property located across the street.
The property occupies a corner lot at 34 E Albany St in Oswego, with an additional adjacent lot on E Albany. It is also being offered as part of a package that includes a separate 2-family property located across the street.
Key Highlights
- 4‑unit configuration with two 3‑bedroom and two 2‑bedroom apartments
- Separate utilities for the individual apartments
- Corner‑lot setting with an additional adjacent lot on E Albany
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
$28,385
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
8.73%
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%
$567,700
$567.7K
Cap Rate 7%
$405,500
$405.5K
Cap Rate 9%
$315,389
$315.4K
Market Conditions
NOI Build-Up for 3,700 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
$54.6K $14.76/SF
− Vacancy
−$3.0K −$0.81/SF
EGI
$51.6K $13.95/SF
− OpEx
−$23.2K −$6.28/SF
NOI
$28.4K $7.67/SF
Area
Oswego County, NY
Vacancy
5.50%
Lease Rate
$14.76 /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%
$567,700
Cap Rate 7%
$405,500
Cap Rate 9%
$315,389
Alternative Uses
Best Use
Multifamily LT 5
$435.9K
$381.4K – $508.6K
NOI $30,513 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$405.5K
$354.8K – $473.1K
NOI $28,385 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$738.0K
$645.8K – $861.0K
NOI $51,660 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 13126, NY
35,477
Population
15,668
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
100.7 sq mi
ZIP Area
352
Density / Sq Mi
$63,590
Median Household Income
$30,469
Median Earnings
$992
Median Rent
$134,600
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?
Quadplex - Four apartments feature separate utilities, covered entry space, and low-maintenance exterior cladding on a corner parcel.
Where is this quadplex located?
The property is located at 34 E Albany St Oswego, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 4‑unit configuration with two 3‑bedroom and two 2‑bedroom apartments; Separate utilities for the individual apartments; Corner‑lot setting with an additional adjacent lot on E Albany
