Duplex With Two-Unit
New
For Sale
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37 Cherry Street, Johnson City, NY 13790
Multi-zoned duplex offering one three-bedroom residence and one two-bedroom residence.
Property Size1,532 SF
Price / SF$101.17
Days on Market6
Property Features for 37 Cherry Street
General Information
Standard status
Active
Size
1,532 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
Multi
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1900
Units
2
Listing Agency:
Kartar Realty
Listed By:
Susan Criscitello · License #10491214164
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 15 at 7:35AM
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 Kartar Realty
Investment Insights
Based on property information with market context.
This two-family duplex contains a 3-bedroom unit and a 2-bedroom unit within approximately 1,532 square feet of property area. The residential configuration provides two distinct unit types in one building, with Multi zoning supporting its identified use. Built in 1900, the property is located in Johnson City, New York, with proximity to hospitals, shopping, parks, dining, and major roadways. Its two-unit layout offers a straightforward residential income property configuration for buyers evaluating a duplex asset.
Key Highlights
- Two‑family duplex with a 3‑bedroom unit and a 2‑bedroom unit
- 1,532 square feet of property area
- Multi zoning
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
$13,689
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
8.83%
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%
$273,780
$273.8K
Cap Rate 7%
$195,557
$195.6K
Cap Rate 9%
$152,100
$152.1K
Market Conditions
NOI Build-Up for 1,532 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
$21.1K $13.80/SF
− Vacancy
−$1.6K −$1.04/SF
EGI
$19.6K $12.77/SF
− OpEx
−$5.9K −$3.83/SF
NOI
$13.7K $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%
$273,780
Cap Rate 7%
$195,557
Cap Rate 9%
$152,100
Alternative Uses
Best Use
Multifamily LT 5
$195.6K
$171.1K – $228.2K
NOI $13,689 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$182.3K
$159.5K – $212.7K
NOI $12,763 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$380.1K
$332.6K – $443.4K
NOI $26,605 @ 7.0% cap · market cap 17.16%
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
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 13790, NY
18,478
Population
9,585
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
89%
High-School Grad
27.2 sq mi
ZIP Area
679
Density / Sq Mi
$54,764
Median Household Income
$37,360
Median Earnings
$985
Median Rent
$117,300
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 - Multi-zoned duplex offering one three-bedroom residence and one two-bedroom residence.
Where is this duplex located?
The property is located at 37 Cherry Street Johnson City, NY.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Two‑family duplex with a 3‑bedroom unit and a 2‑bedroom unit; 1,532 square feet of property area; Multi zoning
