Income-Producing Duplex with Garage
For Sale
$215,000
34 Pine St, Oneonta, NY 13820
Two-unit duplex with garage rental income in Oneonta, NY.
Property Size1,720 SF
Days on Market131
Property Features for 34 Pine St
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,531
Building Details
Building Size
1,720 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
River Hills Properties LLC
(315) 868-4596
Listed By:
Brandon Mosher · License #10301224028
(315) 868-4596
Source:
Elliman
Added: Apr 11
Changed: Aug 18
Last Checked: Aug 18 at 8:59AM
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 River Hills Properties LLC
Investment Insights
Based on property information with market context.
Located in Oneonta, NY, 34 Pine Street is a two-family duplex featuring one 3-bedroom unit and one 2-bedroom unit. Each unit has separate utilities. The owner is responsible for water and sewer. The property includes a garage currently rented long-term for tool storage, creating supplemental income. The property generates a current annual NOI of $15,575. This property is part of a three-property investment package that must be sold together. The portfolio includes 14–16 Otsego Street, a two-family duplex with 6 bedrooms and 2 bathrooms consisting of two 3-bedroom units with separate utilities and an NOI of $17,800, and 1–3 Birch Street, a two-family duplex with one 3-bedroom and one 2-bedroom unit with separate utilities and an NOI of $16,125. The total portfolio NOI is $49,500, offered at a 7.125% cap rate. All units across the three properties have separate utilities. The property is located in a strong rental market. The location has a walk score of 78, indicating it is very walkable, and a bike score of 60, indicating it is bikeable.
Key Highlights
- Part of a three‑property portfolio sale generating a total NOI of $49,500, offered at a 7.125% cap rate.
- Income‑producing duplex with an additional revenue stream from a rented garage.
- Current annual Net Operating Income (NOI) of $15,575 for 34 Pine Street.
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
$15,019
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
6.99%
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%
$300,380
$300.4K
Cap Rate 7%
$214,557
$214.6K
Cap Rate 9%
$166,878
$166.9K
Market Conditions
NOI Build-Up for 1,720 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
$22.7K $13.20/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$21.5K $12.47/SF
− OpEx
−$6.4K −$3.74/SF
NOI
$15.0K $8.73/SF
Area
Otsego County, NY
Vacancy
5.50%
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%
$300,380
Cap Rate 7%
$214,557
Cap Rate 9%
$166,878
Alternative Uses
Best Use
Multifamily LT 5
$214.6K
$187.7K – $250.3K
NOI $15,019 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$200.3K
$175.3K – $233.7K
NOI $14,020 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$474.1K
$414.9K – $553.2K
NOI $33,189 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,009
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-unit duplex with garage rental income in Oneonta, NY.
Where is this duplex located?
The property is located at 34 Pine St Oneonta, NY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Part of a three‑property portfolio sale generating a total NOI of $49,500, offered at a 7.125% cap rate.; Income‑producing duplex with an additional revenue stream from a rented garage.; Current annual Net Operating Income (NOI) of $15,575 for 34 Pine Street.
