Duplex With Covered
New
For Sale
$325,000
36 East Albany Street, Oswego, NY 13126
Two three-bedroom apartments feature separate utilities, updated mechanicals, and washer and dryer hookups.
Property Size2,989 SF
Days on Market5
Property Features for 36 East Albany Street
General Information
Standard status
Active
Size
2,989 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,221
Amenities
covered front porches
washer and dryer hookups
Building Details
Building Size
2,989 SF
Year Built
1900
Buildings
2
Listing Agency:
Hunt Real Estate ERA
(315) 622-5757
Listed By:
Teri L Beckwith · License #40BE0846273
(315) 622-5757
Source:
Highfallssir
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 14 at 12:55PM
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.
Built in 1900, this duplex property includes two three-bedroom apartments with long-term tenants. Each unit offers a covered front porch, maintenance-free vinyl siding, original woodwork, and washer and dryer hookups. Updated mechanical systems and separate utilities add functional separation between the apartments.
The property occupies a corner lot at 36 East Albany Street in Oswego, New York. Both apartments provide a multi-unit residential configuration with established tenancy and individual utility service.
The property occupies a corner lot at 36 East Albany Street in Oswego, New York. Both apartments provide a multi-unit residential configuration with established tenancy and individual utility service.
Key Highlights
- Two three‑bedroom apartments with long‑term tenants
- Built in 1900 on a corner lot
- Covered front porches for both apartments
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
$24,649
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
7.58%
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%
$492,980
$493.0K
Cap Rate 7%
$352,129
$352.1K
Cap Rate 9%
$273,878
$273.9K
Market Conditions
NOI Build-Up for 2,989 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
$37.7K $12.60/SF
− Vacancy
−$2.4K −$0.82/SF
EGI
$35.2K $11.78/SF
− OpEx
−$10.6K −$3.53/SF
NOI
$24.6K $8.25/SF
Area
Oswego County, NY
Vacancy
6.50%
Lease Rate
$12.60 /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%
$492,980
Cap Rate 7%
$352,129
Cap Rate 9%
$273,878
Alternative Uses
Best Use
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,649 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$327.6K
$286.6K – $382.2K
NOI $22,930 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$596.2K
$521.7K – $695.6K
NOI $41,733 @ 7.0% cap · market cap 12.84%
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
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?
Duplex - Two three-bedroom apartments feature separate utilities, updated mechanicals, and washer and dryer hookups.
Where is this duplex located?
The property is located at 36 East Albany Street 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: Two three‑bedroom apartments with long‑term tenants; Built in 1900 on a corner lot; Covered front porches for both apartments
